This year, Bangladesh marks the Golden Jubilee of its independence. The whole nation is celebrating this milestone with joy and pride. In 1971, Bangladesh emerged like a phoenix from the ashes of destruction after a nine-month Liberation War. At its birth, doubts were expressed by some about the future of the new country and yes, there have been some turns and twists in its
Prioritizing of health, education, social safety net, agriculture stressed in budget; SANEM bssnews.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bssnews.net Daily Mail and Mail on Sunday newspapers.
The need for higher allocation for the social safety net programmes (SSNPs) has never been felt so badly than during the ongoing pandemic. Historically, given the resource constraint, Bangladesh could not manage to allocate the required amount of resources for SSNPs compared to other regions of the world. In South Asian countries, the average allocation for SSNPs is about 4 percent of their gross domestic product (GDP). The East Asian and Pacific countries spend about 8 percent of GDP on SSNPs while the European countries allocate about 20 percent of their GDP on social protection.
We are making slow progress in this case. The allocation in terms of amount has increased over time, so has the size of our economy. But the SSNP allocation as a percentage of the GDP has remained almost the same for a long time. For example, in FY2011, the share of SSNPs in our budget was 3 percent of GDP and in FY2021 also, the allocation for SSNPs is equivalent to only 3 percent of the GDP. In terms of
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