“Many shall be restored that now are fallen, and many shall fall that now are in honor.”HORACE—ARS POETICA.

World Bank classifies a country in accordance with several indicators, including three economic criteria: high, middle, and low income countries.Countries with per capitagross national incomebetween US$ ($) $ 996 and $12,195 fall under middle-income country category.It is a matter of pride for us that Bangladesh will be middle-income country by 2021. The journey from the birth of the country to present isnot so easy at all rather hard-featured.

The People’s Republic of Bangladesh is a country of 55,598 sq miles full of dreams and hopes of more than 16 crorepeople living herein. This country was born into chaos and was shattered by a bloody war, had a ruined economy and a totally disrupted communications system. All residents of any country should know their history of birth, success and failure.The economic situation facing Bangladesh as it emerged from the war of independence in 1971 under leadership of Bangabandhu Sheikh MujiburRahmanincluded the highest rural population density in the entire world. There were critical shortages of essential food grains and other staples because of wartime disruptions and earlier cyclone of 1970.External markets for jute had been lost because of the instability of supply and the increasing popularity of synthetic substitutes. Foreign exchange resources were minuscule, and the banking and monetary system was unreliable. Although Bangladesh had a large work force, the vast reserves of undertrained and underpaid workers were largely illiterate, unskilled, and underemployed. Commercially exploitable industrial resources, except for natural gas, were lacking. Inflation, especially for essential consumer goods, ran between 300 and 400 percent. The war of independence had crippled the transportation system. Hundreds of road and railroad bridges had been destroyed or damaged, and rolling stock was inadequate and in poor repair. The new country was still recovering from a severe cyclone that hit the area in 1970 causing many deaths.But Bangladesh was fortunate to get help by neighboring countries. The United States and the World Bank thereafter also became leading foreign aid donors, and the World Bank organized a consortium known as the Bangladesh Aid Group, comprising twenty-six international financial institutions and foreign governments interested in assisting Bangladesh’s development.From then to now, they are still playing significant roles in development of Bangladesh. The World Bank Group’s Country Strategy Framework for Bangladesh for 2016 to 2020 will support Bangladesh to achieve its vision of attaining middle-income status by 2021.In recent years, our economy is growing consistently at more than 6 percent, making it one of the fastest growing economies in the world. Over some past months, that pace accelerated to 7 percent. Today, the Bangladeshi economy stands at about $180 billion. According to the World Bank, that will rise to $322 billion by 2021.

To be a middle income country there should be a great amount of government spending of that country. Government Spending in Bangladesh increased to 823.97 BDT Billion in 2015 from 702.09 BDT Billion in 2014 from an averaged 390.65 BDT Billion from 2003 until 2015, reaching an all time high of 823.97 BDT Billion in 2015 and a record low of 115.31 BDT Billion in 2003. Bangladesh Bureau of Statistics reports such spending as follows:

                       [Data Collected from Trading Economics]

Today we have foreign direct investments and in near future this will rise.Last year for the first time, foreign direct investment from other countries into Bangladesh surpassed $2 billion, a 44 percent increase from the year before. We just to need to make them trust that- Bangladesh has a lot of potentialities and we also can do best things. Here is the year wise investment graph given below:

Bangladesh Foreign Direct Investment Forecasts are projected using an autoregressive integrated moving average (ARIMA) model. The forecast for – Bangladesh Foreign Direct Investment – was last predicted on Thursday, September 8, 2016.   [Data Collected from Trading Economics]

Government is working in every sector includingagriculture, education and health. The present government is aiming to attain vision 2021 with the combination of this success and recognition.Some key features are:

• In the last two years Trading Corporation of Bangladesh (TCB) sold 38,803 metric tons of necessary daily commodities among the low income group. Formalin Control Act 2015 has been formulated to maintain quality of food. In the last two years, 417 projects with a cost of Taka 4, 29,804.462 crore have been approved through 62 ECNEC meetings. Seventh Five Year Plan (2016-2020) has been approved accelerating the economic growth in view of empowering every citizen along with poverty alleviation. The size of ADP for 2015-16 has been set at Taka 1, 00,996.92 crore. Prime Minister inaugurates ‘Rice at Tk 10 per kg’ project for poor families.
• To prevent drop-out of the poor students’ food incentives, full free studentships, free books etc facilities are given. With a view to building ‘Digital Bangladesh, as announced by the Prime Minister Sheikh Hasina, internet facilities have been introduced in field level offices related to primary education including 55 Primary Training Institutes (PTI) having a computer lab. Laptop, multimedia, internet modem and sound systems have been supplied to 5 thousand and 430 primary schools.
• In the last 2 years Department of Public Health Engineering has installed 318 service tube wells, 34 water treatment plants, 19 raised water reservoirs, 743 kilometer pipeline of different width and 8,403 sanitary latrine and 190 community latrine- public toilets through various projects
• Bangladesh has achieved enviable sums in power sector with the leadership of Sheikh Hasina, leader of the incumbent alliance government. The production capacity of electricity (greed connected) in the country has been raised to 11,952 megawatt from 10,289 megawatt during the past two years
• The construction work of the main structure of Padma Bridge and river training has been initiated. Two service areas and construction yard has already been completed. About 28 percent work of the project has been completed. Preparatory work of 20 kilometer long Metro Rail from Uttara to Bangladesh Bank costing Taka 22 thousandcrore has been done to ease traffic congestion of Dhaka city.
• International Tele-communication Union (ITU) has awarded Bangladesh the World Summit on Information Society (WSIS) Prize-2014 and ICTs in Sustainable Development Award -2015. People are using safely registered SIMs now.
• Bangladesh is determined to transform itself into a technologically advanced society. Programs long underway are already making many facets of society more transparent and accountable helping to boost the Bangladesh economy.Bangladesh’s chief information technology adviser Sajeeb Ahmed WazedJoy,has received an award in New York for his contribution to the ‘Digital Bangladesh’ initiative. The World Organisation of Governance & Competitiveness, Plan Trifinio, Global Fashion for Development, and School of Business of University of New Haven, Connecticut would also recognise his “outstanding leadership and commitment towards ICT and Competitiveness as a tool for sustainable development” with the award. This would be the first ever award to be given by the organizers to anybody.
• National Social Security Strategy of Bangladesh has been approved to make social safety network more updated and effective. The policy has developed 5 yearly and long term goals. Beneficiaries of social safety allowances are getting their allowance in their own account to maintain transparency.
• Ekti Bari EktiKhamar (One House One Farm) Project is one of the eight innovative initiatives of the Prime Minister Sheikh Hasina to alleviate poverty and to make the people of the country self reliant. Besides, the government is implementing various projects for poverty alleviation and rural development. Char Livelihood Project-2, Integrated Rural Development Program, Rural Housing (modern housing) Scheme, Economic Empowerment of the Poorest (EEP), Extension Program of Milk Vita, Construction of Bangabandhu Academy for Poverty Alleviation and Rural Development etc. are among the mentionable
• Testimony of cases is now recorded by voice recorders in courts. Important information including daily schedules, latest update of cases and date of next hearing in both lower and higher courts are available on online. 48 laws have been enacted, 152 treaties have been signed and 651 notifications have been issued in the last two years along with translation of a significant number of acts and rules.
• The Prime Minister of Bangladesh Sheikh Hasinahas been awarded with Champions of the Earth Award in 2015 as recognition of government’s effort to minimize effect of climate change. Approximately 45 thousand people have been benefited as a result of the Sundarbans Environmental and Livelihood Security Project (SELS) to create alternative employment opportunity.
• Construction work of 16 storied `TothyaBhaban’ (Information Building) for Department of Films and Publications (DFP), Mass Communication Department (MCD) and Bangladesh Film Censor Board, under Ministry of Information, has been inaugurated to ensure better service and prompt action in fast changing scenario.
• Building of a new 10 storied Parjatan Motel in place of Hotel Soikot in Chittagong costing Mica 4302 lath is about to complete. Construction of terminal 1 and 2, internal terminal, VVIP Complex, control tower building and fire alarm and detection system of power house of Hunt Shahjalal International Airport has been completed. Biman Bangladesh Airlines has profited Taka 233.06 crore (unaudited) in financial year 2014-15.
• Inflation on a point-to-point basis has come down by three percentage points in the last month, according to official statistics. The latest figures by the Bangladesh Bureau of Statistics (BBS) indicate inflation was down to 5.37 percent in August from 5.4 percent the previous month.Planning Minister AHM Mustafa Kamal revealed that food inflation stood at 4.3 percent in August, down from 4.35 in July. Non-food inflation, however, increased to 7 percent from 6.98 percent, said the minister.

Image: Inflation Rate            Source: Bangladesh Bank

• 192.42 kilometers of river have been dredged in the last two years. It includes test dredging in 22 kilometer areas of river Jamuna under “Capital (pilot) Dredging of River System in Bangladesh” project. Four cross bars have been developed adjacent to Sirajgonj town by the dredged materials and about 16 Square kilometers of land have permanently been recovered. 1, 4792 hectares of land have been settled among 17,533 landless families under the settlement and development projects in the coastal strips.
• As a result of the affinity of Prime Minister Sheikh Hasina for sports, cricket has helped Bangladesh to raise its profile in international arena. Bangladesh has successfully organized the World T-20 Bangladesh- 2014 and Asia Cup Cricket- 2014. Bangladesh became champion in the under-16 SAFF Football Championship defeating India and also became unbeaten champion in the first round of World Hockey League. National Service Program has been extended to 17 upazilas of 17 districts and 14,718 persons have been employed after training. Decision has been taken to extend this program to 20 upazilas in 2015-16 financial years.
• So, these are just the beginning, many yet to go. The economy of Bangladesh has been able to achieve sustainable progress confronting national and international challenges.

And, in fine,the globalization mechanism certainly paves way for transfer of surplus technological resources to developing countries like Bangladesh to march forward to join the league of developed nations.  Humanity has never stopped improving despite fighting and natural calamities.  Earth is round.  History reveals changes in the fates of nations: 

The world is blessed with 21^st century technological inventions including computers and software- key driver of changes.  Clarity in knowledge of “theory of relativity” can take us to any dimension surpassing our much-sought middle-income country status by cashing in on the country’s youth demographic dividend.  Bangladesh will be regarded as a role model worldwideamid the ebb and flowupholding its people’s voice and development inspired by the spirit of the Liberation War.

Disclaimer:The article contains available information on the topic on various sources as listed below and as fathomed by the writer.

Bibliography:

1. Bangladesh 2030- Strategy for Growth

http://www.dhakachamber.com/publications/Strategy_2030_Souvenir.pdf

• Can Bangladesh Achieve Vision 2030?

http://ep-bd.com/online/details.php?cid=35&id=18900

• Vision and Mission

http://www.erd.gov.bd/site/page/729b2a25-4424-4dc9-93b2-2886441af9aa/Vision-and-Mission

• Development by government

http://albd.org/index.php/en/resources/articles/3358-2-years-of-development-by-awami-league-government

• https://en.wikipedia.org/wiki/Bangladesh
• UNCTAD, World Investment Report 2015- Reforming International InvestmentGovernance
• YASHENG HUANG Harvard Business School- Selling China: Foreign Direct Investment during the Reform Era
• 23 Things They Don’t Tell You About Capitalism by JaJoon Chang
• Capital in Twenty First Century by Thomas Picketty
• The Dramatic Decade- Indira Gandhi Years
• 1001 Days That Shaped the World by  Peter Furtado (who is a fellow of Britain’s Royal Historical)