DHAKA, Jan 13, 2018 (BSS)-The implementation rate of Annual Development Programme (ADP) in the first five months (July-November) of fiscal year 2017-18 (FY18) was at a satisfactory level as the rate of implementation was 20.1 percent, said Centre for Policy Dialogue.
The civil society think-tank said the implementation rate was 47 percent in the power sector and implementation of projects had been expedited in this sector and utilization of foreign project aid and assistance during the period was increased.
CPD came up with the observation while presenting its assessment report titled 'State of the Bangladesh Economy in Fy2017-18 (first-reading) at a press briefing at CIRDAP auditorium here.
In its report research fellow of the think tank Towfiqul Islam Khan focused on ADP implementation situation, revenue collection, banking sector, Rohingya issue and floods. Distinguished fellow of CPD Debapriya Bhattacharya, executive director Fahmida Khatun and research director Khandker Golam Moazzem made comments on different issues of the report.
CPD said revenue collection witnessed a 23.5 percent growth during July-August period of the current fiscal year and though the revenue mobilization at export-import level was satisfactory and collection from direct tax was not at the satisfactory level.
The think tank suggested giving more attention to mobilization of income tax and said it is urgent to implement the ongoing reform programmes for increasing revenue collection.
It said economic growth is increasing but rich-poor disparity is not decaling in the country. Income inequality had widened from 2010 to 2016 and 0.23 percent of the total income of the people came from the five percent of the hardcore poor in 2016, which was o.74 percent in 2010, it said.
Debapriya Bhattacharya said that time has come to think about the quality of the growth. Towfiqul Islam Khan said people who are lagging behind were not getting the benefits of economic growth and the rich became richer while the poor became poorer, he said, adding that the rate of poverty alleviation became slow as adequate jobs were not in the country.
CPD said country's banking sector was not in a good position and suggested taking steps in establishing good governance in the banking sector.