Five months have passed since the interim government took office, but there has been little sign of success in the economic sphere during this period. The interim government has been focusing more on addressing political crises rather than economic issues. The formulation of the new monetary policy is nearing completion. The Bangladesh Bank has started discussions on the proposed monetary policy with stakeholders. If everything goes as planned, this policy will be approved in the Bangladesh Bank board meeting on January 22, and then it will be published. This will be the second monetary policy of the current fiscal year and the first of the interim government. This will also be the first monetary policy under the new governor of Bangladesh Bank, Dr. Ahsan H Monsur. Since taking office, the new governor has taken several practical steps, including initiatives to make the foreign exchange rate and bank lending interest rates market-based. However, these steps should have been taken earlier. The previous governor failed to take effective actions in these areas, which led to a sluggish and downward-moving economy. Among all the recent monetary policies issued by Bangladesh Bank, none has been as challenging as the proposed policy.

In the 1970s, an American development economist visited Bangladesh. At one point, he gave a speech to the faculty members of Dhaka University. The economics department’s professors were notably present at this event. During his address, the American economist presented his views on why Bangladesh’s economic development was not progressing to the desired level. The professors in attendance listened intently to his words. At that moment, a young economics professor from Dhaka University stood up and said to the American economist, "The reason we are unable to achieve the desired level of development is because you are intervening in our economy in various ways." After a brief pause, the American economist replied to the young professor, saying, "If 80 percent of the funds for your country's development activities come from us, whose economy is it? If you were able to finance your development from domestic sources, we would not need to offer any advice." Hearing this, the young professor remained silent and sat down.

The ousted Awami League government had proposed a budget of Tk 7.97 trillion for the ongoing FY 2024-25, which remains in effect under the interim government. The budget is primarily divided into two major segments: development budget and non-development (operating) budget. In the first five months (July-November) of the current fiscal year, total expenditures under these two segments stood at Tk 1.97 trillion, marking an implementation rate of 24.84% of the total allocation.

This government-backed family has become a liability to the banking sector. Dr. Mansur also announced that the Bank Resolution Act is being formulated to address banking failures. Some state-owned banks are also struggling, and measures will be taken to prevent the Financial Institutions Division of the Ministry of Finance from interfering in banking operations. The Bangladesh Bank will be allowed to function independently. However, the Governor did not explicitly state what would happen to banks that cannot be saved or how they would be phased out. His remarks, however, indicate that major changes are on the horizon for the banking industry.

cently, Bangladesh Bank announced a new monetary policy. This was the second monetary policy for the current fiscal year (2024-25) and the first one formulated under the present interim government. For quite some time, economists had been discussing the proposed monetary policy. Given the ongoing trend of high inflation in the country for nearly three years, there was significant interest in what kind of monetary policy would be adopted

The Bangladesh Bank announced the second monetary policy of the current fiscal year on February 10, 2025. This was the second monetary policy for the fiscal year 2024-25 and the first policy under the interim government. There was considerable anticipation regarding the announced policy, and many experts had expected it to be contractionary in nature. Indeed, the policy can be described as contractionary in terms of its characteristics, as it focuses more on controlling the existing high inflation rather than achieving high growth.

The leaders of the top four business organizations in the country have expressed their concerns regarding the government's initiative to increase gas prices in a joint letter addressed to the Energy Adviser. They have warned that raising gas prices at this moment will severely impact industries, leading to a sharp rise in production costs. As a result, Bangladeshi products may lose their competitive edge in the international market.

Every nation strives to achieve rapid and sustainable development. The core responsibility of any government is to ensure the optimal use of limited resources to maximize public welfare and elevate the country to the peak of development. A government that fulfills this responsibility effectively and brings development to all sectors of society is considered a government committed to public welfare. Many people believe that simply achieving economic development will fulfill the primary goal of development, but this belief is not entirely accurate. Development is a comprehensive concept, not limited to just economic progress. While economic development is an important indicator, it is not the sole measure of overall development. In other words, without achieving positive progress in other development indicators alongside economic growth, it cannot be considered balanced development. Economic growth is crucial, but it is not the only criterion for developmen

In the 1980s, the then military dictator General HM Ershad described uncontrolled population growth as the "number one national problem." Although his statement created a stir at the time, it was a completely misleading comment. Population growth, whether planned or unplanned, can never be the number one national problem for a country. Population is an irreplaceable resource. The progress of the world cannot be imagined without it. If population is systematically trained and transformed into a skilled and productive workforce, it becomes the nation's greatest asset. However, if population growth is unmanaged, it becomes a burden for the country. The responsibility of turning the population into human capital lies solely with the state. The state cannot escape the blame for its failure to do so.

At the current stage of our country's economy, achieving revenue targets necessitates the introduction of a "push factor." No matter the cost, there must be a strong effort to elevate revenue collection to the desired level. A significant number of people who are eligible to pay taxes have yet to be included in the tax network. On the other hand, efforts are being made to bring into the tax and customs framework sectors that should be taxed but currently aren't. In both cases, there is a need to move forward with a refined and reformed plan to create or implement a taxpayer-friendly and automated incentive-based system. In other words, for those who are capable of paying taxes but aren't, we must encourage them while simultaneously closing all loopholes that allow tax evasion. Effective measures must be taken to remove any obstacles or complexities that exist in the tax payment and collection processes.

Five months have passed since the interim government took office, but there has been little sign of success in the economic sphere during this period. The interim government has been focusing more on addressing political crises rather than economic issues. The formulation of the new monetary policy is nearing completion. The Bangladesh Bank has started discussions on the proposed monetary policy with stakeholders. If everything goes as planned, this policy will be approved in the Bangladesh Bank board meeting on January 22, and then it will be published. This will be the second monetary policy of the current fiscal year and the first of the interim government. This will also be the first monetary policy under the new governor of Bangladesh Bank, Dr. Ahsan H Monsur. Since taking office, the new governor has taken several practical steps, including initiatives to make the foreign exchange rate and bank lending interest rates market-based. However, these steps should have been taken earlier. The previous governor failed to take effective actions in these areas, which led to a sluggish and downward-moving economy. Among all the recent monetary policies issued by Bangladesh Bank, none has been as challenging as the proposed policy.

In the 1970s, an American development economist visited Bangladesh. At one point, he gave a speech to the faculty members of Dhaka University. The economics department’s professors were notably present at this event. During his address, the American economist presented his views on why Bangladesh’s economic development was not progressing to the desired level. The professors in attendance listened intently to his words. At that moment, a young economics professor from Dhaka University stood up and said to the American economist, "The reason we are unable to achieve the desired level of development is because you are intervening in our economy in various ways." After a brief pause, the American economist replied to the young professor, saying, "If 80 percent of the funds for your country's development activities come from us, whose economy is it? If you were able to finance your development from domestic sources, we would not need to offer any advice." Hearing this, the young professor remained silent and sat down.