ABSTRACT

Having embarked on independence in 1971 with a war-affected economy, Bangladesh began its journey with the objectives to achieve higher growth and fight poverty from the very beginning. The challenge, however, was to materialize such goals with limited resource and opportunities. The situation was termed a ‘test case for development’, fraught with abject poverty and a large population. 1 However, Bangladesh has been acclaimed for its achievements on economic and social fronts during the past few decades. The economy has been growing at around 6 per cent annually since the 2000s, which is higher than the average growth rate of all least developed countries together (UNCTAD, 2014). 2