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1 Ans The major impediments to development need to be effectively addressed

Asked by Birds of the sky (1 Gold) Thursday, 03 Dec 2020, 06:56 AM at (Jobs Job Preparation)

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 To become a #developed country by 2041, the major impediments to development need to be effectively addressed. 

Therefore, there is urgent need to: 


(i) Further increase public spending on infrastructure development; 


(ii) Increase the investment-GDP ratio, and encourage greater investments in the private sector; 


(iii) Increase export earnings by both increasing the volume and quality of RMG products as well as by considerably diversifying export basket and exploring new markets; 


(iv) Increase inward remittances by providing adequate skills to the migrant workers, exploring new countries of destination, and further improving banking channels for receiving inward remittances; 


(v) Create adequate number of "decent jobs" to provide the workforce with reasonable wages and decent standard of living; 


(vi) Make required investments in the health and education sectors to be able to reap the benefits of "demographic dividend";


 (vii) Ensure continued growth in agriculture, despite loss of arable land and threats of natural disasters; 


(viii) Increase efficiency and productivity in the SME sector by duly addressing various challenges faced by the sector; 


(ix) Increase private sector credit to the productive sectors; 


(x) Improve efficiency, management, governance, leadership, and transparency in the banking sector to check money laundering and other scams and recover NPLs, which could, then, be used for productive investment; 


(xi) Strengthen macro prudential frameworks and enhance exchange rate flexibility to improve resource allocation, reduce vulnerabilities and boost resilience; 


(xii) Ensure inclusive growth and development; and last, but not the least, 


(xiii) Improve efficiency, transparency, accountability and overall governance, both in the public and the private sectors.


====================================

Answered by Birds of the sky (1 Gold) Thursday, 03 Dec 2020, 06:57 AM

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