Government outlines 10 priorities for inclusive, non-discriminatory economy

The government has set the goal of building a non-discriminatory and inclusive economy by ensuring participation and partnership of all in the country. In his budget speech in the National Parliament on Thursday, June 11, Finance Minister Amir Khasru Mahmud Chowdhury outlined 10 priority sectors including development, education, health, social protection, investment, energy, information technology and environment.

According to the government's announced priorities, balanced participation will be ensured to evenly distribute the benefits of development to all classes and professions of people and all regions of the country. Initiatives will be taken to transform young people into skilled human resources through a practical, skill-based and value-oriented education system. Ensuring quality and universal healthcare for all as a fundamental right has also been mentioned.

In the area of social protection, plans are in place to strengthen the foundation of a welfare state by bringing citizens of all ages and levels, from children to the elderly, under the protection system. Initiatives will be taken to create new entrepreneurs and increase employment through planned industrialisation, export diversification and expansion of technology-driven economic activities. Strengthening agriculture as a strategic sector for production, livelihoods and national food security has also been emphasised.

Emphasis has been placed on deregulation to ease the business environment. The goal is to create a transparent, easy and cost-effective business-friendly environment by reducing delays and unnecessary procedures in government services. Initiatives will be taken to increase discipline, transparency and accountability in banks and financial institutions and restore depositor confidence to ensure stability in the financial sector. Plans are also in place to encourage investment through capital market reforms.

Citing energy security as a top priority, the government said it would build self-reliant energy security through an affordable, reliable and environmentally friendly energy system, in addition to ensuring uninterrupted electricity and energy supply. The goal of transforming Bangladesh into one of the world's leading ICT exporting countries has also been set.

In the area of environment and water resource management, the government has mentioned tackling the impacts of climate change, turning biodiversity conservation and afforestation programmes into a green revolution, as well as restoring navigability of rivers and relaunching canal excavation programmes. Additionally, emphasis has been placed on establishing a merit-based, skilled and accountable administrative system and increasing efficiency in the implementation of public investment.