Economic Condition of Bangladesh Essay
The consumer industry has grown considerably. The increasing foreign direct investment highlights the growth rate of the Bangladesh economy. Over time there has been structural transformation of the economy with a shift from predominantly agricultural led economy towards industry led economy, the contribution of agriculture sector to GAP was 38% in early ass’s but decline to 20% in 2009-2010, while the contribution of industrial sector increase from to 30% of GAP during the same period of time.
The growth of the economy in year 2009-2010 re mainly attributed by the high growth in industry, rapid growth in export and strong inward remittances, reforms in financial sector, sound monetary and fiscal policy and it was able to manage GAP 6. 07 from 5. 74 in the previous year. In the year 2011 the GAP of Bangladesh attained the highest GAP in Bangladesh history which was 6. 71 . According to the finance ministry it was possible for the proper monetary policy and also subject to favorable weather conditions for agriculture, robust growth in export and urgent sustainable increase in power and gas supplies.
In the other hand in 2012 the GAP decelerated into 6. 2 but still the economic condition seems in a
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But if N.B. negated to collect the projected amount of TAX it would not be possible to attain such goal and the economy would not grow as expected. Trend analysis of government revenues and expenditure: The gap between expenditure and revenue has been increasing on a year-to-year Asia because government expenditure has been increasing more rapidly than revenue. In FYI 2011-12, revenue collection was TX. 1148850 million, 20. 69 percent higher than that of the previous year whereas government expenditure at TX. 1612130 million was 17. 62 percent more than that of the previous year.