MTC Global Journal, Jan-Mar 2020 Issue, Vol-8, Issue-18, ISSN 2231-3710

Book of Proceedings: International Multidisciplinary Conference in Science, Technology, Business, Management & Liberal Arts,
ISBN 978-81-922178-9-5

MTC Global Journal of Management & Entrepreneurship, Vol-8, Issue- 18, Jan - Mar 2020, ISSN: 2231 - 3710
i
MTC GLOBAL JOURNAL OF MANAGEMENT AND
ENTREPRENEURSHIP
ADVISORY BOARD
Tarun Das, PhD (Commonwealth Scholar,
UK) International Consultant (Public Financial
Management Reforms and Strategic Planning),
Former Macro economic adviser and policy
planning, MOF , India.
Prof. ORS Rao
Vice Chancellor
ICFAI University, Jharkhand
Dr. P H Waghodekar, PhD (Egg), IIT,KGP,
IE&M, 1985, Advisor (HR), IBS & PME (PG),
Marathwada Institute of Technology
Aurangabad (Maharashtra)
Dr. RP Mohanty
Former Vice Chancellor
Siksha O Anusandhan University
Khandagiri Square
Bhubaneswar
Prof. Varun Arya
IIT-D, IIM-A
Director- Aravali Gurukul Ashram
Jodhpur
Sri Virendra Goel
Former Director, M.P. Financial Corporation,
Founder honorary secretary later on president
and presently director of Indore Management
Association.
Dr. Subhash Sharma
Director
Indus Business Academy, Bangalore
Dr. MJ Xavier
Former Director- IIM Ranchi
Distinguished Professor
Mr. Ramesh Vemuganti
Former President- Hyderabad
Management Association,
CEO- Chanakya Consultancy
Anisul M. Islam, Ph.D.
Professor of Economics
University of Houston-Downtown
College of Business
Prof. Dr. Muhammad Mahboob Ali
Dept. of Business Administration
Daffodil International University
Dr. Victoria Wise
Associate Professor
Deakin Business School
Dr. Vichayanan Rattanawiboonsom
Business Administration Department. Faculty
of Business, Economics and
Communications. Naresuan University,
Thailand

ii
MTC GLOBAL JOURNAL OF MANAGEMENT
AND ENTREPRENEURSHIP
EDITORIAL BOARD
Chief Editor: Prof. Bholanath Dutta, Founder & President- MTC Global ®
Dr. Priya Krishnan
Professor & HOD
Department of Commerce
Vivekananda College of Arts & Science
Dr. Latha Krishnadas
Professor, Al Khawarizmi International
University College
Abu Dhabi
Dr. Paramita Chaudhuri
Principal
Lady Vailankanni English School [ISCE]
Bangalore
Dr. Usha Devi. N
Professor
MLAFGCW-Bangalore
Publisher: MTC Global ®
Research & Publication Wing
[HQ, Bangalore- www.mtcglobal.org]
Mail: president@mtcglobal.org
Copyright Declaration:
Authors are responsible for any copyright infringement as per the MTC Global Policy
Guidelines. Authors bear the sole responsibility for the genuinity of the papers.
Price: INR 90/- , USD $10

iii
A quarterly research journal from MTC Global
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I welcome you to join us. Together we can ACHIEVE MORE!
Prof. Bholanath Dutta
Educationist, Edupreneuer, Author, Start-up Mentor, Founder & President: MTC Global,
Start-up India Mentor, Mentor of Change AIM/ATL, Chief Editor~ MTC Global Journal of
Management & Entrepreneurship

iv
A quarterly research journal from MTC Global
CONTENTS
WHY NOT WE FIRST TRY TO INDIANISE
MANAGEMENT EDUCATION INSTEAD
OF ATTEMPTING TO INTERNATIONALIZE
IT?
Dr. S. Pratap Reddy
Founder Chairman,
DHRUVA College of
Management
1-4
THE DILEMMA OF INTERNSHIP IN HIGHER
PROFESSIONAL EDUCATION IN INDIA
Dr. P H Waghodekar
Adviser (HR), IBS,
Marathwada Institute of
Technology, Aurangabad: &
Chairman, Advisory Board,
MTC Global, Bengaluru.
5 -17
BANGLADESH TOWARDS DEVELOPMENT
PROCESS: PRESENT AND FUTURE
Md. Kamrul Hasan
Assistant Professor,
Department of Business
Administration, State
University of Bangladesh
18 - 45
THE ROLE OF SMALL AND MEDIUM
ENTERPRISES BANKING IN BANGLADESH:
POTENTIALITIES AND HINDRANCES
Shamim Ahmad
Student: Master of
Economics (Entrepreneurship
Economics), Dhaka School of
Economics, Constituent
Institution of the University of
Dhaka.
46 – 73
LEAPFROGGING OF MFSS: BRINGING
EQUITY IN FINANCIAL PRACTICES,
BOOSTING INCLUSIVE GROWTH AND
UNLOCKING THE POTENTIALS OF LOW
INCOME IN-MIGRANTS AND THEIR
FAMILIES
Shuvashish Paul
Lecturer, Development
Economics Program, Dhaka
School of Economics (DScE) 74 – 93
COST EFFECTIVENESS ANALYSIS OF
CLIMATE RESILIENT WATER
TECHNOLOGIES PROMOTION
Monira Parvin
Senior Manager, BRAC
Disaster Management and
Climate Change Programme
94 – 105
WOMEN ENTREPRENEURS: PERSPECTIVE
BANGLADESH
Dr. Nadia Binte Amin
President
Women Entrepreneurs
Network for Development
Association (WEND)
106 – 108

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WHY NOT WE FIRST TRY TO INDIANISE MANAGEMENT EDUCATION
INSTEAD OF ATTEMPTING TO INTERNATIONALIZE IT?
Dr. S. Pratap Reddy
Founder Chairman, DHRUVA College of Management
During the earliest part of the 20th century, the
United States started becoming industrialized.
Training in accounting and bookkeeping had
been offered in colleges, but the Industrial
Revolution brought about the need for more
people to work in different capacities.
Specific standards for business were rapidly
being developed. Labor was now being
managed by machinery rather than manually,
and the labor force had to evolve to develop
new skills to effectively manage their
companies. With so many new businesses and
revolutionary manufacturing, company owners
began to search for more effective management
techniques incorporating science and business
practices. Some of the issues which had to be
addressed were divisions of specialization and
labor tasks, a hierarchy that’s well maintained
with a compatible relationship between
management and employees, and specific rules
that governed each company. As corporations
grew, there became a need for skilled
management professionals, and colleges and
universities started their own business schools.
To the missionaries, education became not
merely an enterprise.
But, MBA as we teach, is all American or
western so-to-say. It’s about 100 years old. To
put in a nutshell, Phil Rosenzweig in ‘The Halo
Effect; criticizes modern management
philosophers and their books that are otherwise
considered LEGENDARY.
These include Tom Peters’ “In Search of
Excellence”, Jim Collins’s “Good to Great” &
“Built to last”, William Joyce’s “What Really
Works”. He finds similar faults with a swathe
of modern business literature. For today’s
MBAs, ‘success’ is measured by their salability
and their fabulous salaries. The moral
flabbiness born of the exclusive worship of the
bitch-goddess “success” and the squalid cash
interpretation put on the word “success” is like
disease. Winning is the only metric of success
as long as our EGO sits center stage .But its
proven quite often that the so called winners
are left broken emotionally, mentally not just
physically. Hence we need to redefine success.
Real success is developing champions win-or-
lose without compromising the human spirit.
But, management per se, is a few thousand
years old as postulated in the Indian lore. India
was the main hub for international trading
especially for spices and knowledge and the
Arabs were mediators between East and West
through India. In 1751, India had international
market share to the tune of 21% while the share
of US and Europe combined was 24%.
“India is the cradle of the human race, the
birthplace of human speech, the mother of
history, the grandmother of legend and the
great grandmother of tradition”-― Mark
Twain.
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7
Where are we today?
The mandate of British educators in India was
an alternative strategy to physical subjugation
of the vast and diverse country. Essentially, its
introduction to Indian natives was inextricably
linked to goals of colonialism. Unfortunately,
education policy was clearly enunciated in
colonial terms as well. In the words of Thomas
Macaulay, “We must do our best to form a
class who may be interpreters between us and
the millions whom we govern, a class of
persons Indian in blood and colour, but English
in taste, in opinions, words and intellect”.
British education was first introduced by
European missionaries who felt that education
was a powerful instrument in exposing idolatry
among Indian natives.
"When asked about a playwright from history,
who would most of us name? William
Shakespeare, if you studied in English-
Medium private school. As he wrote at least 38
plays and more than 150 short and long poems,
his oeuvre could cater for the most diverse
interests. And the cachet attached to
proficiency in quoting from them ensured that
Shakespearean survived even after the British
left. In contrast, only three plays, two epic
poems and two short poems have actually
survived the 1500-odd years that have passed
since Kalidasa wrote them. And that can
definitely be put down to general disregard we
have for documentation, cataloguing,
preservation and even sustained research into
our ancient rather than recent past. We have
been content to let so many Indian geniuses
fade into oblivion. Those plays and poems
speak for themselves and deserve more interest
and respect than they have engendered so far.
There are many other prolific Indian poets and
playwrights from our ancient past who have
been similarly forgotten or simply not been
made available to a wider audience via
translations"---Reshmi Dasgupta
"We need to unlock the MBA curriculum from
the determinism of the scientific method to the
freedom of liberal enquiry. Liberal education in
management is neither a self-indulgent luxury
nor an ivory tower experiment as recruiters are
competing to hire skills of creativity, listening,
empathy and vision. Liberal education is the
response to the future, not the past challenges.
Education of the heart will be critical in a
world of profound interconnectedness.
Buddhivritti and hridayavritti have to go in
tandem. Students need to develop relational
competencies and be aware of the
interconnection of self, others and larger
systems"---Debashis Chatterjee
Shouldn’t the world look upto India again?
"If there is one place on the face of earth
where all the dreams of living men have found
a home from the very earliest days when man
began the dream of existence, it is India" ---
Romain Rolland.
Various countries have delved deep into the
depths of their heritage for saving
organizational principles. Zen- the art of
Japanese management is derived from Dhyana
which is the Sanskrit root of Zen. Only when it
travelled to China as ‘chin’, then to Japan as
‘zen’, we started adoring the word ZEN. Even
“Dharma” is derived from the verbal root
Dharayet – that which holds or sustains.
Bhagavad Gita says, swadharme nidhanam
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8
shreya, parodhrama bhayavaha, i.e. one’s own
allotted duty (Dharma) even if tinged with
faults, is better than the duty of another even if
well performed. Grit, fidelity, dignity and
integrity and above all honour- are the key
human values of swadharma. It’s preferred to
counterfeit, fair-weather success, which might
flow from parodharma. We must reach out for
“spirit- centered”, psycho-philosophical”
Indian tradition. Rama, Bheeshma,
Harishchandra are few shining examples of this
tradition- Rama followed his royal obligation
of defending royal reputation than personal
fame/Bheeshma took to celibacy in reverence
to his father Shantanu’s desire. Harishchandra
stood by ‘truth’ at personal and family peril!
Most people would think that spirituality would
decelerate a person on material progress.But
spirituality, as one understands deeply, plays a
major role in the financial well-being of
society. Scriptures like the Ishopanishad advice
not to accumulate things after utilizing one’s
quota. The Bhagavata says the Kali (The
‘Kaliyuga, the age of quarrel’ personified)
stays in where gold is hoarded. Clearly, the
emphasis is on the flow of liquidity. Scriptures
explain, a person should only possess as much
as he needs and distribute the wealth for a
higher cause. Spirituality encourages us not to
hoard the wealth but to spend for the higher
cause.
Hence, it’s the duty of Indian corporate and
academia to reinvent our own ‘thousands of
years old tradition’ against modern/young
western management philosophy. As
Rabindranath Tagore opines, ‘we in the east
have had to arrive at our own solution of the
problem of life; artificial uniformity leads to
lifelessness. Shakespeare said, in Julius Caesar,
“The fault, dear Brutus, is in us, not in our
stars”; West, afflicted with the problems of
affluence in a stressful competitive world, is
seeking new ways of a consumerist living that
is illusory. By applying the standards of a very
young civilization on another with one of the
longest surviving cultures, Indian academicians
in general and management experts in
particular have been rejecting
almost everything salient to Indian tradition.
Deep convictions are being bartered away for
cheap cosmetics. Mainstream management
education has remained confined to imported
American wisdom.
‘East Vs West’ – A Contrast
Prashna literally means, in modern usage,
question, query, inquiry. Prashnopanishad
consists of six questions and their answers.
The questions are not randomly arranged, but
have an embedded structure. They deal with
macrocosmic and microcosmic, thus covering
both universal and particular. It prescribes
‘Ethics before Education’ .Compare this with
early 20 century Rudyard Kipling’s “I keep six
honest serving men; they taught me all I knew.
Their names are “What, Why, When, How,
Where and Who”. Strategy adopted by Sri
Krishna is in contrast to modern theories of the
likes of Richard Pettinger. Chaturanga Bala;
Ratha, Gaja, Turaga and Padati and Adam
Smith’s Division of Labour! Maslow’s
“Hierarchy of Needs” Vs Pancakosa or for
that matter Bhagavad Gita – the song celestial
is epitome of motivation. External rewards are
related to outcomes outside of us, such as
money, job, possessions, status, pelf and power
that are less stable and more dependent on
circumstances Viz; Mriga Trishna...With
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desires, I’ve acquired all material possessions-
with abundant possessions, I languish in
desires! Pancakosa deals with vipashyanti
where in we look inwards seeking everlasting
'Nirvanic anandamaya'.
Modern management is inspired by military
strategies. The whole approach to business is
violent. So we compete, fight, seek to grab the
market share by hook or by crook.
The moot point is to stand on the top of the list
of Forbes. It smacks of ‘rana bhoomi’, not
‘ranga bhoomi’ where we don’t fight like
animals, eternally hungry and paranoid-rather
we compete and cooperate...
Coopete!(excerpted from Devdutt Pattanaik)
Sanskrit-our ancient language is rich in most
advanced sciences contained in “Vedas,
Upanishads, Shruti, Smriti, Puranas,
Mahabharata, Ramayana etc. NASA possesses
60,000 palm leaf SANSKRIT manuscripts,
which they are studying. It is building
6th &amp; 7th generation computers
based on Sanskrit. Why go that far? Even the
pranavananda “Omkara” is the sound
emanating from the Sun. The origin of
Corporate Social Responsibility (CSR) can be
traced from the Vedic literatures such as
Valmiki Ramayana, the Mahabharata and the
Puranas. Kautilya's ‘Arthashastra’ provides an
inside-out approach to CSR contrary to the
western approach that takes an outside-in
perspective. A Harvard Business Review
survey reveals people don’t leave companies,
they leave bosses who disguise themselves as
leaders-we see it in Vidura & Vibheeshana,
leaving Duryodhan & Ravan-both bad bosses’.
Fighting the enemy is important, but not
hating. How do we not hate those whom
we fight? Bheeshma gave his enemy Yudhishtir
the clue of Shikhandi-a transgender for his
demise.
Present and future can be made brighter than
the past glory provided we are in the right
direction with determination, a mission with
vision, and not by merely chanting the past
glory! Instead of internationalizing
management education, why not we first try to
indianise it?
AHIMSA (Axis Hyderabad – Indian
Management Systems Academy),
A Dhruva forum is taking baby steps to usher
in ancient Indian wisdom into MBA
curriculum. This may open vistas of hope
swaying present day MBAs away from
materialistic pursuits that may result in Viz;
corruption, high-handedness, unethicality,
flamboyance and snobbish behavior. On the
contrary, they may get imbibed with Indian
ethos, culture, wisdom and spirituality.
4

MTC Global Journal of Management & Entrepreneurship, Vol 8 Issue 18, Jan – Mar 2020, ISSN: 2231-3710
1
THE DILEMMA OF INTERNSHIP IN HIGHER PROFESSIONAL EDUCATION IN INDIA
Dr. P H Waghodekar
Adviser (HR), IBS, Marathwada Institute of Technology, Aurangabad: 431005 &
Chairman, Advisory Board, MTC Global, Bengaluru.
Abstract
Education is the prime goal in 17 Sustainable Development Goals (SDGs) identified by UNO [1, 2].
Education immensely contributes to individual, societal, national or global happiness and prosperity
that are expressed in terms of remaining 16 SDGs. Relevant training during the process of education
plays a key role. Physical and mental skills are, therefore, the essential outcomes of education.
Training, internship and apprenticeship are some of the ways to train the students. This paper
discusses feature of these tools, takes an overview of the practice, various approaches developed by
regulatory bodies like AICTE, UGC, ACAR, MCI, etc., and presents challenges before the Higher
Education Institutes in India. A few recommendations such as better collaboration among the
regulatory bodies, faculty training, student log-book for in-plant training, etc., have been made so
as to optimally utilize training facility for enhancing employability of graduates. It is believed the
paper is of interest to all concerned.
1.0 Introduction
Education and training is a natural process in
all living creatures save man. We do not find
schools in case of other living creatures. Man
being endowed with intellect has created
several systems for his survival. Education is
the most prime one. Education, formal,
informal, distance or online, is essentially
inclusive of training of both mind and physical
body. Education is as old as man himself. In
ancient times we had education and training
facilities. As the time passes, newer and newer
methods and approaches have been evolved.
For example, workforce training became
essential because of the factory system, an
outcome of the first Industrial revolution.
Factory needs different skills according to the
nature of job and/or factory. This has given
rise to the concepts like ‘Work force Training
and Development [3], apprenticeship,
internship, job ready, industry ready or student
READY (Rural and Entrepreneurship
Awareness Development Yojana, etc. [4].
Education, therefore, is regarded as the prime
sustainable development goal (SDG) among
the 17 SDGs identified by UNO for the
happiness and prosperity [5]. The next Section
presents an overview of such concepts
practiced or evolved in man made education
and training system(s).
2.0 Literature Overview
2.1 Basic Concepts
Bharatratna Sir M Visvesvraya says “When a
young man leaves the institution after a course of
training, he should be clean in speech and habits,
with a correct sense of patriotism, loyalty to the
country, aptitude for initiative, love for self-help,
appreciation of the value of time, respect for law
and order, and knowledge of the value of right
thinking and right living, sufficiently well-
equipped to fall into a position in some business or
other calling and be able to support himself”.
Integrated education, therefore, is the call of the
day. It includes such things as teaching-learning,
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Research and Development and Extension
Education and provides training for acquiring skills
both mental and physical. Thus, in essence,
education helps promote educate, elevate and
empowerment of an individual. Several approaches
are used to make student employable. Integrated
(wholesome and complete) education has three
components:
 Teaching & Learning;
 Research & Development; and
 Outreach Programmes, comprising
Industrial Consultancy, Extension
Education or Continuing Education,
and Social Impact Action Programmes.
The purpose of wholesome education is to
hone the student to be employable, job seeker
or job creator.
This can be squarely achieved by fixing the
concepts like training, apprenticeship and
internship that have different shades,
objectives and modus operandi. Six
differences between internship and
apprenticeship can be summarized as given
below [6]:
1. Internship programs outnumber
apprenticeships
2. Apprenticeships are of longer
duration.
3. Apprenticeship offers more pay than
that of an internship
4. Apprenticeship facilitates hands on
training.
5. Classroom training is tied to the
apprenticeship.
6. One will come out of the
apprenticeship with a job.
Table 1 presents a comparison chart for
training Vs internship [6].
Table 1: Comparison chart between training
and internship [6].
Basis for
comparison
Training Internship
Meaning Training is a
programme used
by most of the
companies and
big organizations
to improve the
skills,
performance
ability of the
employees for
doing a specified
job.
An Internship is
a type of
training in
which the
students of
various
colleges and
universities get
the real world
experience
about the
workplace for a
limited period
of time.
For whom Employees and
Prospective
employees.
Students
Duration Depends on the
company or an
organization, but
normally more
than 6 months.
2-3 months.
Objective Improving the
employee’s
performance and
productivity.
Gaining
practical
knowledge.
Payment Training is
always paid.
Internship may
or may not be
paid.
Training is a program organized by most of the
companies for improving the skills,
competencies, knowledge and the ability of the
employees for performing a specified job.
Training may be of different types like
orientation, apprenticeship, job, vestibule,
promotional, refresher training or internship.
6

3
In-plant training is one that takes place in the
industry or company, where one will get to
learn something which happens in the real
world. Further, a training undertaken by the
company itself or an institute owned by the
company is called industrial training.
An internship is a kind of training in which
the students of college and university get the
practical experience of an occupation at the
workplace. The main purpose of such training
is to enable students to apply their theoretical
knowledge in real life working situations and
learn the workplace ethics. Internship model
for medical sciences programs like MBBS,
BAMS, MS, etc., is a proven one.
2.1.1 Key Differences between Training and
Internship [7]
 Training is a program organized by the
companies for their employees for
improving their skill, performance and
ability while Internship is a job training
given to the students, giving them real
world experience about the workplace.
 Rules and Regulations of the company
are applied to the trainees but not to the
interns. After the completion of the
training, the trainees get job placement
while no job is given to the interns.
 The duration of training is normally
more than the duration of the
internship.
 The training can either be on the job or
off the job, whereas internship is
always on the job.
2.1.2 Benefits of Training
 Builds employee’s self-confidence.
 Increases employee’s performance and
productivity.
 Improves employee’s morale.
 Increases profitability.
 Ensures satisfaction among the
workers.
 Better chances/opening for promotion.
2.1.3 Benefits of Internship
 Builds self-confidence of intern.
 Intern gains practical knowledge.
 Improves intern’s workplace ethics.
 Enhances intern’s skills.
 Improves intern’s performance quality.
 Improves intern’s communication skill.
2.2 Sandwich Programmes
As mentioned above, for higher education
internship term is normally used though it
turns to be some sort of industrial training or
in-plant training. Pune University, Pune,
started B E (Metallurgy: Sandwich)
programme of 4.5 years’ duration in early
70’s, followed by BE (Mechanical: Sandwich)
4.5 years, then all sandwich programmes in
Metallurgy, Mechanical and Production were
converted into 4 years program. In-plant
training of 2 semesters was sandwiched in 8
semesters program. The author as Head of
Industrial Engineering Department had an
opportunity to introduce BE (Mechanical:
Sandwich) and BE (Production: Sandwich),
each of 60 intake, and ran the programmes
successfully from 1993 to 2005 AD. There
was also a practice that a few colleges used to
send their students for industrial training for a
short period of 2-3 weeks to nearby industry
during vacation period.
2.3. Industry-Institute Linkage [8-12]
Private Engineering Colleges entered into
Higher Education sector by mid-80 and over
the last three decades the number of colleges,
student-intake and faculty has multiplied many
folds. This has prompted Educationists and
7

4
Policy makers to evolve such concepts as
industry institute linkage, industry-institute
partnership, industry parks etc. Waghodekar
has identified 22 potential areas such as
curriculum development, student growth,
faculty quality improvement, seminar and
projects, consultancy, R & D, etc., where
industry-institute linkage can fetch dividend to
both. [8].
Waghodekar has advocated industry-institute
partnership for capturing global market
through quality goods and services at
affordable cost. and further recommends pre-
service training for faculty for preparing them
to face the challenges of globalization [12], see
Table 2.
Table 2: Pre-service training of faculty to meet global challenges [12]
.
2.4 AICTE Internship Policy [16-20]
In 2018 AICTE has notified Internship Policy: Guidelines and Procedures [17]. This is a detail
document that specifies procedures for all involved in internship, i.e., students, faculty, industry,
university, internship duration, frequency, credits, etc. See Tables 3 and 4.
Table 3: Credit framework and internship UG/Diploma level [17]
Sl. Schedule Duration Activities Credits
College Diploma College Diploma College
14-20
Diploma
10-18
1 Summer
vacation
after 2nd
Semester
Summer
vacation
after 2nd
Semester
3-4
weeks
3-4
weeks
Inter/Intra Institutional activities 3-4 3-4
2 Summer
vacation
after 4th
Semester
Summer
vacation
after 4th
Semester
4-8
weeks
4-8
weeks
Industrial/Govt./NGO/MSME/Rural
internship/innovation/entrepreneurship
4-6 4-6
3 Summer
vacation
after 6th
Semester
6th
Semester
4-8
week
3-4
week
Degree: Industrial/Govt./NGO/
MSME/Rural internship/innovation/
entrepreneurship.
Diploma: Project work, Seminar
4-6 3-4
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(excluding credits for Advanced
Courses)
4 8th
Semester
3-4
weeks
Project work, Seminar (excluding
credits for Advanced Courses)
3-4
Table 4: Credit framework and internship/Industrial Project at PG level [17]
Sr. Schedule Activities Duration Credits
1 Semester-III Industrial project/Dissertation 20 weeks 10
2 Semester-IV Industrial project/Dissertation 32 weeks 20
2.5 Student –READY [4]
ICAR has recommended Rural and Entrepreneurship Awareness Development Yojana (READY) for
B Tech (Food Technology) four years’ UG programme. It consists of the following components:
1. Industrial visits
2. Experiential Learning Programme-I and II.
3. Seminar
4. Research Project
5. In-plant training.
Tables 5 and 6 present some provisions for Student-READY [4]
Table 5: Constituents of Student READY programme [4]
Table 6: Generalized layout for In-Plant Training [4].
9

6
2.6 Project work and Internship for B Sc
(Nursing).
Maharashtra University of Health Sciences,
Nashik (www.muhs.ac.in ) and Indian Nursing
Council, New Delhi (www.inc.in ) are the
regulatory Bodies for B Sc (Nursing) four
years’ programme. This programme gives due
weight-age for Clinical practice in Hospital.
Besides this, the student has to undergo Project
work and internship in the fourth year of the
program. As good as 30% weight-age goes to
these activities. See Table 7.
Table 7: Project work and Internship for final
year of B Sc (Nursing)
Project Work to be carried out internship
Practical = 30 hours per week
Internship (Integrated
practice)
Subject p. Clinic
Hours
Weeks
1.Midwifery &
Obstetrical Nursing
240 5
2. Community Health
Nursing-II
195 4
3. Medical Surgical
Nursing (Adult &
Genatrics)
430 9
4. Child Health Nursing 145 3
5.Mental Health nursing 95 2
6.Reserach Project 45 1
Total 1150 24
3.0 Challenges
In the previous Section a few models for
internship like AICTE, Sandwich, INC, ICAR,
etc., are presented. Each model is striving for
integration of theory and practice, though the
approaches advocate different mode of
execution of internship or in-plant training.
The Indian Higher Education, however, has
been facing such challenging issues as:
1. How to increase employability of
graduates? At present, it varies in the
range 10-15%.
2. How to go about skill development?
Job ready skills are hardly imparted in
institutes.
3. How to meet affordable cost of
education? Arrest skyrocketing tuition
fees?
4. How to train faculty worthy enough for
better outcome of internship?
5. .How to up-grade and up-date institutes
for world class quality education?
6. How to handle hyper growth in number
of institutes and students without
affecting the quality of education, i.e.,
balancing quantity and quality?
7. How to move about for
internationalization/globalization of
education?
8. How to bridge the widening gap
between industry and institute so that
graduates employability can be
increased?
9. How to bring all regulatory bodies like
AICTE, UGC, etc., and Councils like
INC, ICAR, MCI, CoA, etc, on a
common platform so as to promote co-
operation, collaboration and co-
ordination among them in such matters
as internship policy, integration of
education, etc.?
.
4.0 Suggestions
The following suggestions are made:
1. Better coordination, co-operation
and collaboration among the
regulatory bodies and Councils.
Provide them a common platform.
10

7
2. Each model of internship presented
in this paper has got its own strong
and weak points. A consciousness
can be built up to have a common
model incorporating good points of
each.
3. Faculty training: Pre-service,
minimum of one year, and in-
service training of minimum two
months in industry and 2 refresher
courses in a block of 2 years, see
Table 2. [13-15].
4. Produce quality
project/Seminar/Dissertation and
in-plant Training of internship or
perish.
5. There are over 1000 engineering
colleges, 500 management
institutes, 1500 polytechnics. In
such a situation, AICTE model
appears to be infeasible as the
number of students is too large to
accommodate them both in industry
and institute.
6. Quality of internship training can
be controlled though such means as
‘Log-Book’ see Appendix “A”.
7. In vocational training, the ITI
certificate is held valid only after
successful completion of one year
or so apprenticeship training.
Likewise, the degree needs to hold
valid only after completion of at
least 6 months training in industry.
8. Apprentice Act may be mandatory
for industry.
9. The Director, State BOAT or his
nominee need to be an ex-officio
member of the Governing Body of
Institute.
10. More emphasis on R & D,
consultancy, industry projects,
industrial visits, innovation,
patenting, etc., may be given.
11. Training and Placement Cell,
Entrepreneurship Development
Cell and IQAC need to be activated
with due spirit with good ROI.
12. Close association with Professional
Bodies like CII, CSI, etc., is
strongly recommended
5.0 Conclusions
This paper argues that due industrial training
to students will help promote them to educate,
elevate and empower so as to turn them to be
employable or be entrepreneurs. The paper has
highlighted some aspects of internship models
like sandwich program, AICTE, ICAR,
student-READY, Nursing, etc. It is also
pointed out that for fruitful and productive
outcomes of internship or in-plant training,
partnership with industry, professional bodies
on one hand and industrial training of faculty
on the other can fetch a big dividend for
wholesome or integrated education. The
present challenges posed before the Higher
Education institutes like skill-gap, quantity vs.
quality, affordable cost of education,
globalization, etc., are enlisted. Some
recommendations like a common platform for
all regulatory bodies and Indian Councils, pre-
service and in-service training for faculty,
emphasis on R &D, industry projects and
consultancy, Log-Book for trainees, etc., are
also put forth. The paper, it is believed, is of
interest to all concerned.
References
[1] Bredan O’Malley, 2019, SDGs ‘not
attainable without contribution of HE’, UN
told 20 July,
11

8
https://www.universityworldnews.com/post.ph
p?story=20190719135507840
Waghodekar P H, 1991, Education: The Man’s
prime sustainable developmental goal
[2] Anon, 2018, AICTE Internship Policy:
Guidelines and Procedures.
[3] Greg Belkin, 2010, Workforce Training
and Development, Aberdeen Group,
Customer-Centric Productivity for Retailers,
Harte Hank Company, April.
[4] Anon, 2018, Revised Course Curriculum
and Syllabus of B Tech (Food Technology) as
per ICAR, New Delhi, recommendations for
State Agricultural Universities of Maharashtra
from Academic Year 2017-18.
[5] Waghodekar P H, 12017, Education: The
Man’s prime sustainable developmental goal,
address, 7th World Education Summit, Main
Theme SDG: Education, Bengaluru,
September.
[6] Glassdoor Team, 2018, 6 Differences
Between an Internship and Apprenticeship,
July 28, https://keydifferences.com/difference-
between-training-and-internship.html
[7] Anon, Training Vs Internship.
https://keydifferences.com/difference-
between-training-and-internship.html
[8] Waghodekar P H, 1991, Institute-Industry
Linkage: Today and Tomorrow, proceedings
of the 21st ISTE Annual National Convention,
Madras, 14-16 Dec., 1991, and also appeared
in J Eng. Education, Jan 1992, Vol. V, No. 3,
Jan, pp. 20-35.
[9] Waghodekar P H, Institution’s Role in
Industry Institution Partnership (with Limaye),
J Eng. Education, IX (4), April, 1996, pp. 41-
45.
[10] Waghodekar P H, Industrial Training :
The Hub of a Curriculum Wheel, invited paper
jointly with Mr. B.Y.Tekawade, AICTE
Sponsored National Seminar on “Engineering
Education with Industrial Park”, Sathyabama
Eng. College, Chennai, 1-2 March, 1997
[11] Waghodekar P H, Industry Institute
Partnership (Present situation and role played
by Institute, Industry, Government and
Professional Bodies), 1996, invited paper,
AICTE Programme on IIP, VIT, Pune, 23-28
December
[12] Waghodekar P H, 1999, Institute Industry
Partnership: impact on Globalization, Indian
Journal of Technical Education, Vol. 22 No. 3,
July-September, pp.63-67 also appeared .in
Journal of Engineering and Technology,
Sardar Patel University, Vallabh Vidyanagar,
Gujarat, Vol. 13, March 2000, pp. 28-33.
[13] Waghodekar P H, Professional Training
for Technical Teachers, J Eng. Education,
April 1994 p.25-30.
[14] Waghodekar P H, Faculty Training: A
Challenge of the New Millennium (jointly
with B Y Tekawade), proceedings of the
National Conference on “Technical Education
in the New Millennium Management and
Challenges” (TECMANCH-2000), 12-13
March, 2000, University College of
Engineering (Autonomous), Osmania
University, Hyderabad, Andhra Pradesh, India.
12

9
[15] Waghodekar P H, In-house in-service
training to junior faculty of an engineering
college: a case study, proceedings of the
National Conference on “Best Practices in
Engineering Education”, jointly organized by
Engineering Education Foundation, Pune and
Sinhgad Technical Education Society’s
Engineering Colleges, Pune, 2 – 3 February,
2007 and also submitted for publication in
Industrial Engineering Journal.
[16] Johannnes Bauer and Prenzel, 2012,
European Teacher Training Reforms, 2012,
Science (www.sciencemag.org), Vol. 336, 29
June, pp. 1642-1643.
[17] Anon, 2018, AICTE Internship Policy:
Guidelines and Procedures.
[18] Anon, 2019, List of Companies MOU
with AICTE for internship, UGC Notification,
30 April
[19] Prashant K Nanda, 2018, AICTE reduces
theory burden, mandates internship for
engineering students, 25 Jan,
https://www.livemint.com/Education/7HUOx
HporbS5CAdqA7H4OM/AICTE-reduces-
theory-burden-mandates-internship-for-
enginee.html
[20] Anon, 2018, Top 10 colleges with best
internship culture honored by AICTE in
'Internship Day ceremony', India Today.
13

10
APPENDIX “A”
14

11
15

12
16

1317

14
BANGLADESH TOWARDS DEVELOPMENT PROCESS: PRESENT AND
FUTURE
Md. Kamrul Hasan
Assistant Professor, Department of Business Administration,
State University of Bangladesh
Abstract
Bangladesh stared its journey in the early 70’s as one of the poorest countries of the world. In
1972 the per capita income of Bangladesh was 190 USD (at 1995 constant dollar), one of the
five poorest countries of the world. Henry Kissinger, the then Secretary of State of the US
termed Bangladesh as a bottomless basket for aid programs. Currently Bangladesh became low
income group middle income country. Although history of reform in Bangladesh dates back to
late 70s and many of the reforms came out governments own initiative, major reforms in
Bangladesh came out as implementation of private sector initiatives. Bangladesh is one of the
first 35 countries which adopted Bretton Woods institution sponsored Structural Adjustment
Program (SAP). It started with World Bank structural adjustment loans (SALs and SECLs) in
1980. We hope to see Bangladesh as a successful country in the future. The study observed
that in the next 20 years timeline, we dream of a Bangladesh which will be competent like
Malaysia or Singapore if political stability can be attained.
Keywords: Economic vision, Socio political vision, Environmental Vision, Science &
Technological vision.
1. Introduction
Bangladesh, a country with immense
opportunities in multiple sectors, has a
population of 164 million which includes a
large number of skilled & semi skilled
workforce. This number is increasing
gradually. Bangladesh has survived the
recent economic recession & was successful
to hold a sustainable inflation rate during
that period. This country has a better GDP
growth rate than the other developing
nations too. I tried to illustrate my thoughts,
imaginations & objects with the help of
most updated statistical data available. We
will be standing at our 50th
years of our
independence in 2021. We want to see an
economy with the presence of an accounting
democratic system. In this article I tried my
best to present a model of Bangladesh that
may become at 2021. Bangladesh is a
developing country with vast population
base where population is a problem. We
think this should not be considered as an
impediment in achieving this vision. Rather
our population a base can be one of our
strengths, if used properly. Research
question is whether wealthy & self-
sufficient Bangladesh in 202 is possible?
2. Literature Review
Bangladesh is facing different challenges
concerning these categories. There is a big
18

15
threat of Global Climate Change on our
head too. But besides this off putting
circumstances, we are full of different
opportunities too. Our economy will flourish
if we can exploit these opportunities. These
opportunities will lead us toward a
sustainable economy in near future.
Sustainable economic growth is compulsory
to achieve the “Future Bangladesh” we see.
A double digit GDP growth will help us in
this regard too. it will be possible to be a
“Tiger Economy of Asia” in the next 40
years if proper execution& management is
feasible with good governance.
Proper mobilization of resources will be a
vital issue for us. I provide here different
facts of resources mobilization & how they
should be managed in next 6 years timeline.
Bangladesh has many competitive edges
over its neighboring & other developing
countries. We only have to make sure that
we are providing a better business
environment for them. We have
demonstrated different comparative &
competitive advantages of our s over the
other countries & have sketched a
“Roadmap” to make most out them all.
Rostow’s Five Stages of Growth
(2005):Traditional society; Preconditions for
take-off; Take-off; Drive to maturity; Age of
High mass consumption. Bangladesh has in
recent decades achieved reasonably rapid
economic growth and significant progress in
social development indicators despite many
impediments: the desperate initial conditions
after gaining independence, lack of
resources, natural disasters, widespread
corruption, and a record of systemic
governance failure. By identifying the
sources of growth stimulus and the drivers
of social transformation, the paper addresses
what it calls Bangladesh’s development
surprise. Over all through this report I want
to say it straight that we have to be
optimistic about our country & tried to
exemplify that it is very much possible to
make our dream come true of a “Prosperous
Bangladesh” Bangladesh today is the 48th
largest economy in the world with a GDP of
US$225 billion on the basis of purchasing
power parity. In nominal terms, the per
capita income is US$ 1314 with a GDP size
of nearly US$ 90 billion. Bangladesh is also
the 70th
largest exporter and the 4th
largest
RMG exporter in the world. Bangladesh is
also the 21st
fastest growing economy. With
an impressive 5% annual GDP growth for
the last 20 years, our economy has moved to
a new growth trajectory. Bangladesh is no
longer in position to be considered as one of
the lower middle income countries (LMI)
countries in the world.
From a project management perspective, the
success of fast track projects depends both
on success of implementation as well as
success in operation following project
completion (Baccaarini, 1999). The present
study assesses the progress of
implementation of the fast track projects
from this dual perspective. Project
management success is categorized into two
components - project success and product
success. Project success indicates successful
completion of a project within specific
objectives. The three key components of
project success include being on time (in
terms of meeting the schedule), within cost
(in terms of meeting budget) and achieving
quality objectives (in terms of conformity
with functional and technical specifications).
Project success also considers the manner in

16
which the project management process is
being conducted. Product success, on the
other hand, focuses on the effects of the
project’s final product on the final users. Its
three key components include meeting the
project owner’s strategic organisational
objectives (in terms of achieving the
project’s goal), satisfaction of users’ needs
(in terms of satisfying real needs) and
satisfaction of stakeholders’ needs
(Baccaarini, 1999).
Internet connection has already reached to
the 50% upazila of Bangladesh and
broadband fiber connectivity to that upazila
will be available within next 1 year.
Guidelines for both submarine and terrestrial
cable owned by private organization are
ready and just waiting for advertisement. 3
terrestrial and 2 submarine cable licenses
will be given to private sector. Leading US
investment bank Goldman Sachs has
included Bangladesh as one of the Next-11
(N-11) countries after the BRIC nations of
Brazil, Russia India and China to be one of
the rising economies of the world. Similarly,
JP Morgan and Price Waterhouse Coopers
have also included Bangladesh as one the
potential growth economies of the world.
There will be some obstacles to achieve this
vision but we can overcome all the
obstacles. The young generation is entering
the business sector and the government is
providing physical, financial and policy
support but the young should lead us toward
the right direction. We need a science and
technology based society to build a Digital
Bangladesh.
4. Objectives of the study
 Study of the trend that may come as
the new improvement &
development of Bangladesh
 Develop formulation of plan that is
very useful for us to
 Detailed study of each of the
strategies and show how it is useful
for the economic growth for
Bangladesh.
 Signifies the possible outcome that
we can obtain in near future
 Strategically growth inducted by the
society
5. Methodology
In our study we have done a detailed
research on the impact of external factors on
GDP growth.
Data Collection
I find most of the related data as on the help
of the general reasoning where there is a
very well-known reason of journal &
articles written by different persons of
Bangladesh.
The general source is classified with the
different aspect which is related as on their
main view of information & related field:
 National Accounts Statistics
published by Bangladesh Bureau of
Statistics
 Bangladesh Economic Review
published by the Financial Advisor
Wing, Ministry of Finance
 Economic Trends
 www.Earthtrends.com (For the Data
of India, Pakistan and Srilanka)
 DCCI Website
19

17
 Bangladesh 2021
 Bangladesh Bank , World Bank and
IMF web sites
Structuring the Vision
The total report is structured as they are
signified of nature & main topic is gathered
with the total information & solution
Data Analysis
Significant analysis is measured with the
help of statistical data which is calculated &
conducted over the main frame of the
information.
6. Limitations
The present study is not out of limitations.
Some constraints are appended below:
Lack of Information or data:
Adequate and in-depth well organized
information is not available for access. As
vision 2021 is relatively a new addition in
the government’s strategy, there lacks
sufficient studies and literatures in this
respect.
Time Constraints:
It is nearly an impossible task to cover the
entire purview of strategy for growth: 2021
within the limited time frame.
Comparison Status:
Major part of the report is based upon the
secondary sources of data, which consists of
the views and opinions of the financial
analysts. In that case, the reliability and
authenticity of the information provided by
them is not absolutely above the question.
Finally the nature of the information on the
topic of strategy for growth: 2021 is to some
extent critical to apprehend. It was quite
difficult to have sufficient knowledge and
understanding in that particular field within
the short time period.
Economy of Bangladesh
Bangladesh is a developing country that is
classified as a Next Eleven emerging market
and one of the Frontier Five. According to a
recent opinion poll, Bangladesh has the
second most pro-capitalist population in the
developing world. Between 2004 and 2014,
Bangladesh averaged a GDP growth rate of
6%. The economy is increasingly led by
export-oriented industrialization. The
Bangladesh textile industry is the second-
largest in the world. Other key sectors
include pharmaceuticals, shipbuilding,
ceramics, leather goods and electronics.
Being situated in one of the most fertile
regions on Earth, agriculture plays a crucial
role, with the principal cash crops including
rice, jute, tea, wheat, cotton and sugarcane.
Bangladesh ranks fifth in the global
production of fish and seafood. Remittances
from the Bangladeshi diaspora provide vital
foreign exchange.
The Bangladesh telecoms industry has
witnessed rapid growth over the years and is
dominated by foreign investors. The
government has emphasized the
development of software services and hi-
tech industries under the Digital Bangladesh
scheme. Bangladesh has substantial reserves
of natural gas and coal; and many
international oil companies are involved in
production and exploration activities in the
Bay of Bengal. Regional neighbours are
keen to use Bangladeshi ports and railways

18
for transhipment. Located at the crossroads
of SAARC, the ASEAN+3, BIMSTEC, and
the Indian Ocean, Bangladesh has the
potential to emerge as a regional economic
and logistics hub. In 2015, per-capita
income stood at USD 1,314. While
achieving significant macroeconomic
stability, Bangladesh continues to face
challenges such as infrastructure deficits and
energy shortages.
Macro-economic Scenario
Global and Asian Economic Trend:
According to the latest outlook of the
International Monetary Fund (IMF), the
global economy is likely to witness some
positive changes in the short and medium
term. Uneven growth prospects are taking
shapes across different countries of the
world. The decline in oil prices in one hand
and jobless growth on the other, or,
declining potential output carry mixed
signals for the future prospects of global
economy .However, in terms of trade
potential and employment, global scenario
reveals positive prospects for the future of
Bangladesh economy.
Inflation decline:
Inflation is likely to decline in the advanced
as well as most of the emerging and
developing economies in 2015 due to
reduced oil prices. Taking advantage of this
situation, we will strive to bring 17
discipline to the subsidy management
system in the energy sector.
Growth:
To be precise, growth is projected to
increase in advanced economies to 2.4
percent in 2015 from 1.8 percent in 2014.
Growth in the United States and Euro area is
projected to reach 3.1 percent and 1.5
percent in 2015 from 2.4 percent and 0.9
percent in 2014 respectively. However,
growth in emerging and developing
economies including Asia will slightly
decrease reflecting the impacts of
geopolitical tensions, slowdown in growth
of oil exporting CIS countries due to decline
in oil prices and sluggish investment in
China. On the other hand, growth in
neighboring India is expected to strengthen
to 7.5 percent this year benefitting from
recent policy reforms and lower oil prices.
Overall, global growth is projected to reach
3.5 percent and 3.8 percent in 2015 and
2016 respectively from 3.4 percent in 2014.
GDP Growth and Investment:
GDP growth target for FY 2014-15 was set
at 7.3 percent. We could nearly reach the
target had the positive economic prospects
of the first half of the fiscal year sustained.
You know how the destructive actions
perpetrated by the 20-party alliance halted
this trend from the beginning of the second
half, economic activities, however, soon
returned to normal through people’s
spontaneous participation. Satisfactory
agricultural production, vibrant rural
economy, encouraging remittance flows,
increase in public investment and higher
wage rate in the private sector together
helped in keeping domestic demand
buoyant. Meanwhile, Bangladesh Bureau of
Statistics (BBS) has released the preliminary
estimate of GDP for FY 2014-15 which
stands at 6.51 percent. However, I
personally believe that the real situation is
far better and the growth rate may exceed
6.51 percent.
Inflation:
Our persistent efforts helped contain
inflation at a tolerable limit. Average
20

19
inflation rate gradually declined and stood at
6.6 percent by the end of April 2015.
Supported by lower fuel prices in the
international market, supportive fiscal and
monetary policies, satisfactory agricultural
production and improved distribution
system, food and non-food inflation will
likely remain within the target by the end of
the current fiscal year.
Money, Credit, and Interest Rate:
We have been pursuing a 18 growth-
supportive monetary policy harmonizing it
with fiscal policy. In order to keep broad
money supply in control, we have placed
emphasis on controlling the reserve money
growth. As of March 2015, reserve money
and broad money growths stood at 15.6
percent and 12.5 percent, respectively,
which are within the targets set by
Bangladesh Bank's Monetary Policy
Statement (MPS).While steps have been
taken to stem its flows to unproductive
sectors, credit to productive and growth-
promoting sectors is being encouraged.
Productive and export-oriented enterprises
have ample opportunities to avail short and
long-term foreign loans. As of March 2015,
private sector credit growth was 13.6 percent
on an annual basis. If the foreign borrowing
is taken into account, private sector credit
growth would be around 16 percent. You
will be happy to note that the interest rate
spread between loans and deposits is
narrowing gradually due to banking sector
reforms. The interest rate spread has
decreased to 4.87 percent at the end of
March 2015 from 5.31 percent in June 2014.
This gap should be reduced to 4 percent
within two years‟ time.
Import and Export:
Till April this fiscal, growth in export
registered 2.6 percent whereas import
growth recorded 12.2 percent up to March
2015.Expected export growth could not be
achieved due to sluggish growth in the Euro
zone, appreciation of Tk. against Euro, and
the ongoing process of improving working
conditions as well as of protecting labor
rights in the apparel industry. On the other
hand, due to buoyant domestic demand,
import growth has increased. In particular,
import of capital machinery has substantially
increased indicating acceleration of
production capacity in the near term.
Remittance Income:
Remittance flows have registered 7.1
percent growth in the first ten months of the
current fiscal year compared to the same
period of the previous fiscal year. After long
six 19 years, Saudi Arabia has re-opened its
labor market for Bangladeshi workers,
which indicates future growth prospects for
manpower export.
Foreign Exchange Reserve and Exchange
Rate:
In recent months, the US dollar has become
stronger against almost all of the leading
currencies. On the other hand, Tk. has
remained stable against the US dollar. As a
result, it has experienced slight appreciation
against almost all these currencies. Despite
the negative current account balance due to
trade deficit, overall balance of payment is
in surplus reflecting surpluses in the
financial and capital accounts till April of
the current fiscal year. In effect, foreign
exchange reserve has been rising
consistently. As of 27 May 2015, reserve
stood at 23.7 billion US dollars which is
sufficient to foot about 6 months‟ import
bills.
Macroeconomic Context
How did the present context is to inform the
budget for FY2016?; How realistic is the
21

20
macroeconomic outlook proposed in
FY2016 budget?
Fiscal Framework: Budgetary Allocation
and Financing
Is the fiscal framework losing credibility?;
How challenging will attainment of revenue
target in FY2016 be?
Are agriculture and social sectors
marginalized within the public expenditure
framework for FY2016?;
Can ADP for FY2016 be implemented
without addressing the structural
bottlenecks?
Is the foreign aid requirement for FY2016
too ambitious?
Fiscal and Other Budgetary Measures
What are the ‘good’ and ‘not-so-good’ fiscal
measures proposed in the budget FY2016?
Why should we continue the incentives for
legalizing undisclosed money?
What is the revenue implication in FY2016
of the significant duty restructure?
How has investment in industrial sector been
incentives in budget for FY2016?
Governance and Reforms
Is the agenda for strengthening local
government lost?; The unsung agendas –
what about reforms?
How did the present context inform the
budget for FY2016?
The national budget FY16 has been prepared
in the backdrop of the following advantages
in national economy: Low inflationary
pressure; Declining interest rates; Stable
exchange rates;
Manageable fiscal deficit; Upward trend in
remittance flows; Favorable balance of
payments
Augmented foreign exchange reserves;
However the economy has to confront the
following challenges:
Poor fiscal planning creating credibility
gap; Domestic borrowing biased financing
mix of the budget deficit; Sluggish private
investments and poor job creation;
Unachieved tax revenue target and overall
poor revenue generation; Poor utilization of
confessional financial including project aid;
Depressed export growth, both in the US
and EU markets; Inability to take advantage
of current macroeconomic stability for
growth-friendly expansionary economic
reforms.
How realistic is the macroeconomic
outlook proposed in FY2016 budget?
The GDP growth target for FY16 is set at
7.0% (6.5% in FY15, provisional); Moderate
improvement in GDP growth and
investment (both private and public)
forecasted – modest expectation regarding
investment scenario; In FY16, 65% of
incremental investment to come from private
sector, remaining 35% from the public
sector; An additional (approx.) Tk. 57,000
crore private investment will be required in
FY16; ICOR is expected to decline (improve
in productivity) in FY16 and stabilize; The
growth targets for FY2016 has been toned
down in view of the underachieved growth
targets that were envisioned in the SFYP;
Inflation is also expected to stabilize around
6%; It has been mentioned in the budget
speech that annually 1.3 million jobs in the
domestic market and 0.5 million abroad
were generated during 2010-2013; However,
it has not been mentioned that between
2005-06 and 2010, the corresponding figures
were 1.7 million and 0.6 million respectively
- a slowdown in employment generation!;
This implies a slowdown in annual
employment generation after 2010 (in both
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21
home and abroad) in comparison to previous
four years
Is the fiscal framework losing credibility?
Revenue (27.6%) projected to grow faster
than public expenditure (23.1%); Total
budget expenditure is set at 17.2% of GDP;
Revenue income will be 12.1% of GDP;
Development expenditure (27.4%)
programmed to grow slower than no
development revenue expenditure (29.2%) –
impact of new pay scale!; ADP: 32.9% of
total public expenditure (31.3% in the
RBFY15); Budget deficit has been projected
at 5.0% of GDP (same in RBFY15).
Balance in financing budget deficit will be
restored, if implemented; High foreign
financing target (39.6% growth over the
RBFY15) has been set with anticipated
gross foreign aid flow of USD 4.9 billion
(highest USD 2.9 billion in FY14);
Government’s net bank borrowing will
increase by only 4.1%; The proposed fiscal
framework is thus questionable; The budget
does not provide monitorable and
transparent plan for implementation: needed
result-based management; Budget targets
take revised budget figures for FY15 as the
reference point. However, these are likely to
be lower when the full picture for FY2015
will be available which in reality will be
lesser; In view of this, according to CPD
projections, all major parameters of fiscal
framework will need to register higher
growth rates to attain the targets compared
to those planned in the budget FY16;
Quality of fiscal planning has weakened
over the last three years and is likely to
continue in FY15; One of the weakest links
among the indicators relate to net foreign
borrowing; As share of GDP, between FY12
and FY15 ; Revenue-GDP ratio also
declined; Public expenditure did not
increase; ADP has increased.
State of the Bangladesh Economy in
FY2015 and the Closure of Sixth Five
Year Plan
The Bangladesh Bureau of Statistics (BBS)
recently established a provisional estimate of
6.5 per cent for gross domestic product
(GDP) growth in fiscal year 2015 (Figure
2.1). This was 0.8 of a percentage point
lower than the target of 7.3 per cent in the
FY2015 budget. It may be recalled that,
according to SFYP, the GDP growth rate for
FY2015 was set at 8.0 per cent. Many
analysts, including those from the World
Bank and Asian Development Bank,
expected economic growth in FY2015 to be
between 5.6 and 6.1 per cent due to political
turmoil in the third quarter of the fiscal year
and trends of associated macroeconomic
correlates (see World Bank [2015] and ADB
[2015]). CPD (2015) estimated that total
losses suffered by selected sectors from
January to mid‐March of 2015 due to
political unrest would be approximately Tk.
4,900 crore, which would be approximately
0.55 per cent of GDP for FY2015 if the 6.5
GDP growth projections for FY2015 by the
Bangladesh Bank is taken as a reference
point. Indeed, the provisional GDP growth
estimate was found to be higher than
expectations.
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22
Figure 2.1: GDP growth rate (%)
Note: p denotes provisional estimate.
Of the 6.5 per cent overall provisional
growth estimate for FY2015 – agriculture
contributed 0.5 per cent (compared to 0.7
per cent in FY2014 and 0.4 per cent in
FY2013), industry’s contribution is
estimated to be 2.7 per cent (compared to
2.3 per cent in FY2014 and 2.6 per cent in
FY2013), and the contribution of the
services sector is estimated to be 3.0 per cent
(compared to 2.9 percent in FY2014 but 3.4
per cent in FY2012) (Table 2.1). Over the
past five years, the average increase in the
GDP growth rate was 0.01 of a percentage
point per year.
Table 2.1: Contribution to GDP growth over the period FY2011-FY2015
Sectors FY11 FY12 FY13 FY14 FY15(p)
Agriculture
sector
0.78 0.52 0.41 0.70 0.48
Crop Sector 0.40 0.18 0.06 0.34 0.12
Other
agriculture
sector
0.39 0.34 0.35 0.36 0.37
Industry sector 2.31 2.47 2.59 2.27 2.72
Manufacturing
sector
1.64 1.69 1.80 1.60 1.93
Other industry
sector 0.66 0.78 0.79 0.67 0.80
Services sector 3.25 3.43 2.88 2.92 3.02
Tax less
subsidy
0.12 0.10 0.13 0.16 0.28
GDP 6.46 6.52 6.01 6.06 6.51
(Source; BBS)
For FY2015, the per capita gross national
income (GNI) of Bangladesh is estimated to
be approximately USD 1,314, which is USD
131 more than that of the preceding year
(representing growth of 11 per cent). Per
capita GDP is estimated to have risen to
24

23
USD 1,235 in FY2015 from USD 1,110 in
FY2014, an increase of USD 125 (11.3 per
cent growth). These new per capita GNI and
GDP estimates indicate an increased
likelihood that Bangladesh is graduating to
lower-middle-income status. However,
Bangladesh will have to wait more for being
eligible to be graduate from the least
developed (LDC) status
.
Table 2.2: Bangladesh’s performance in LDC status review
Year of Review EVI HAI GNI per capita
(USD)
2006 25.8 50.1 403.3
2009 23.2 53.3 453.3
2012 32.4 54.7 636.7
2015 25.1 63.8 926.3
(Source; BBS)
Manufacturing is estimated to have achieved
a significantly high growth of 10.3 per cent
in FY2015 in real terms despite the severe
disruption of the supply chain during the
aforementioned political turmoil (Table 2.3).
The services sector’s estimated growth rate
of 5.8 per cent in FY2015 is a surprise. The
industry sector, mainly driven by
manufacturing growth, is estimated to have
largely contributed to the additional growth
of 0.45 of a percentage point in FY2015. A
more disaggregated analysis is necessary to
determine how the manufacturing sector
could achieve such growth, which represents
a moderate share of between 19 and 20 per
cent in GDP. The manufacturing sector is
composed of two Quantum Indexes of
Industrial Production (QIPs), Large and
medium scale and small scale. Both QIPs
are estimated to have achieved 10-11 per
cent growth despite the fact that the small-
scale QIP has a comparatively smaller share
of about 3.5 per cent in total GDP.
Table 2.3: Sector-wise GDP growth (%)
Sectors FY2012 FY2013 FY2014 FY2015 (p)
Agriculture 3.01 2.46 4.37 3.04
Industry 9.44 9.64 8.16 9.60
Manufacturing 9.96 10.31 8.77 10.32
Services 6.58 5.51 5.62 5.83
GDP 6.52 6.01 6.06 6.51
(Source; BBS)
During the first six months of FY2015,
production estimates based on the QIP of
large- and medium-scale manufacturing
industries recorded impressive growth of
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24
10.3 per cent. Within the general index, food
products, pharmaceuticals and medical
chemicals, non-metallic mineral products -
which have a combined weight of 26.1 per
cent – mainly contributed to improved
growth in July-December of FY2015
compared to growth in FY2014 (see Annex
Table A-2.1 for detail). Notably, two major
export-oriented products, textiles and
wearing apparel, which have a combined
weight of 48.9 per cent, have achieved
negative growth (-12.8 per cent) and growth
of
less than 1 per cent (growth was 10.5 per
cent in FY2014), respectively, in the first six
months of FY2015. The production
performance of this particular group is
reflected by the low export growth achieved
during the initial months of FY2015.
Small-scale industries, on the other hand,
registered lower growth rates during the
same period, although jute, cotton, wearing
apparel, leather and fabricated metal
products performed relatively better.
Fabricated metal products and basic metal
products had higher growth rates of 22.1 per
cent (compared to 10.8 per cent in FY2014)
and 14.8 per cent (compared to 6.4 per cent
in FY2014), respectively, in the first half of
FY2015. However, food, beverage and
tobacco products, which are export-oriented
products, saw moderate growth of 9.9 per
cent in July-December of FY2015.
From the expenditure side, both public and
private consumption declined in the
FY2011-FY2015 period (Table 2.4).
However, both domestic and national saving
increased during this period.
Table 2.4: Share of GDP components by expenditure method
Industrial origin
sector
FY96-FY00 FY01-FY05 FY06-FY10 FY11-FY15
Consumption 81.81 79.22 79.50 78.34
Private 76.86 74.15 74.27 73.14
General
government
4.95 5.07 5.23 5.21
Investment 22.24 24.80 26.20 28.32
Private 16.37 19.15 21.37 22.10
Public 5.86 5.65 4.83 6.22
Export of goods &
services
11.22 12.55 16.79 19.16
Import of goods &
services
16.38 17.44 22.92 26.70
Gross domestic
saving
18.19 20.78 20.50 21.66
Gross national
saving
22.62 25.41 28.31 29.50
(Source; BBS)
Since FY2012, private sector investment
growth has stagnated (Figure 2.2). The
provisional GDP figure for FY2015 projects
a marginal improved private investment
26

25
performance (with a change of 0.04 of a
percentage point as a share of GDP). The
proxy indicators indicated a mixed picture as
regards investment in FY2015. The growth
of credit to private sector could only by 13.6
per cent as of March 2015. In contrast,
growth of term loan for industries increased
by 45.2 per cent during the first nine months
of FY2015. However, there is a growing
concern over the quality of term loan data as
loans against trust receipts (LTR) were also
often accounted under the term loan. The
utlisation of bank loans also need to be
monitored closely. Total investment in
export processing zones (EPZs) achieved a
growth rate of 13.1 per cent (worth USD 3.4
billion) in July-April of FY2015 over the
corresponding period of FY2014. The
corresponding growth figures were 14.5 per
cent in FY2014 and 31.5 per cent in
FY2013.6
Figure 2.2: Private investment (% of
GDP) in last 10 years
Growth of payments against capital
machinery import was also impressive –
23.0 per cent during the first nine months of
FY2015. To investigate at a more
disaggregated level the sources of the recent
rise in imports of capital machinery while
private investment is still perceived to be
stagnating, CPD examined detailed import
shipment data for July-March of FY2015. It
was identified that 30 import items (at HS 8-
digit level), whose assessable value is more
than Tk. 100 crore, achieved over 100 per
cent growth during the period. More
precisely, four of the items (in the categories
aeroplanes and other aircraft, compression-
ignition internal combustion piston engines,
and machines for treating metal including
electric wire and transformers [power
handling capacity 16-500]) show very high
growth in their value. More importantly,
very high growth can be observed in the
price of these four items during July-March
of FY2015, which is abnormal within the
period of a single year. With regard to price
growth in July-March of FY2015 over the
corresponding months of FY2013, apart
from the effluent treatment plan that saw
557 per cent growth, all other items show
either lower or negative growth. Imports of
such a large amount of capital machinery at
this price level during this period warrant a
double check. Such an exceptional pattern of
import figures necessitates appropriate
scrutiny on the part of the National Board of
Revenue (NBR). It may be recalled that,
CPD (2014) also indicated the possibility of
illicit financial flow through import of
capital machinery. On a welcome note,
following the CPD’s repeated assessment,
the central bank has recently has started
scrutinising bills of entry (BoE) received
from commercial banks to unearth possible
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26
capital flight in the form of capital
machinery import. A recent rapid business
environment assessment survey conducted
by the CPD found that a significant portion
of large entrepreneurs in Bangladesh (62.5
per cent) who were surveyed, (somewhat,
largely and strongly) agreed that money
laundering was taking place through formal
banking system in Bangladesh extensively.
The aforementioned survey of also indicated
a rather unimpressive private investment
outlook. About 60.7 per cent survey
respondent apprehended that investment
environment could deteriorate further in
coming days. During the survey, the
respondents also mentioned the major
impediments towards private investment;
which were corruption, inadequate
infrastructure, inefficient government
bureaucracy, government instability, and
limited access to financing. Given the high
interest on lending charged by the domestic
banking sector, most of the survey
respondents (53.5 per cent) supported
allowing foreign loans for private
investment to a great extent. The survey
results revealed that most of the respondents
possessed a rather pessimistic
view as regards the ongoing initiatives to
improve infrastructure in Bangladesh (67.8
per cent) and their prospects of timely
implementation (76.7 per cent).
2.2 Anticipated revenue shortfall is a
reality in FY2015, but will the lesson be
learnt for FY2016? Collection of both tax
and non-tax revenue have continued to fall
below expectations throughout the fiscal
year, while attempts have been made to
attain ambitious targets for FY2015.
According to integrated budget and
accounting system (iBAS) data, during the
first eight months of FY2015 (July-
February), tax revenue collection by the
NBR registered growth of 12.4 per cent
compared to the same months of the
previous fiscal year, although this did not
meet the target of 34.4 per cent over the tax
revenue collected in FY2014 (MoF, 2015).
Only import duty and supplementary duty
collections are on track to achieve their
respective targets (Figure 2.3).7 In contrast,
collection from non-tax revenue sources was
32.2 per cent less (worth Tk. 5,619 crore) in
July-February of FY2015 compared to the
corresponding months of FY2014. At the
end of FY2015, it appears that overall
revenue collection may fall short by Tk.
30,000 crore, well below the target set in the
budget for FY2015.8 In its previous two
reviews of Bangladesh’s economy in
FY2015 (released to the media on 3 January
and 5 April 2015, respectively), CPD
predicted a shortfall of Tk. 25,000 crore.
Hence, while setting targets for FY2016, a
realistic revision of the revenue targets for
the ongoing fiscal year is warranted.
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27
Figure 2.3: Targets and achieved revenue growth in FY2015
2.6 The financing mix for the budget
deficit will be a challenge in FY2016
As has been the case for the last three years,
the budget deficit was well within the
planned limit, according to data for the first
eight months of FY2015. A significant
revenue shortfall can be envisaged, but it
will be offset by lower public expenditure.
The structure of public financing is
characterized by a heavy reliance on
domestic financing sources and low net
intake from foreign financing sources.
Within the domestic financing structure, the
buoyant sale of high-yield national savings
certificates has been a key feature in
FY2015 (Figure 2.5). One of the major
challenges for the FY2016 budget is to
balance the overall structure of public
financing. Since a large proportion of
financing has already been secured from
sales of National Savings Directorate (NSD)
certificates, bank borrowing may be very
limited. Notably, the lack of utilization
capacity for foreign resources remained a
weak area.
Figure 2.5: Share of budget deficit financing sources (%)
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41
Major Challenges for Development of
Bangladesh
Poverty and inequality
Overall poverty levels fell from 57 percent
in 1991–92 to 31.5 percent in 2010. The
rate of reduction has been faster in the
present decade compared with the last
decade, lifting out of poverty more than
2.8 million people a year. Bangladesh is,
however, still among the poorest countries
in the world, ranking 146 out of 187 on the
2011 United Nations Human Development
Index. Inequality is growing and many
people are not benefiting from social and
economic development. About 25 percent
(40 million people) are extremely poor and
spend almost all of their income on food
and still do not meet their minimum
nutritional requirements. Women, children
and in particularly female headed
households and children living without
parental care are especially vulnerable.
Around 40 percent of children and 30
percent of women are malnourished.
Minority ethnic groups also suffer from
high levels of extreme poverty, particularly
in regions such as the Chittagong Hill
Tracts, the Northern Plains, Mymensingh
and Teknaf (where there is a large
population of Rohingya refugees from
Myanmar).
Social development
The country has been recognized globally
for its progress towards meeting the
Millennium Development Goals,
particularly in the areas of gender equality
in education, combating HIV/AIDS,
malaria and other diseases, and
significantly reducing infant and child
mortality rates. However, maternal and
neonatal mortality rates remain
unacceptably high. Although gender
indicators are improving, many women
still face extreme social and economic
disadvantages. Violence against child,
women and girls is common, affecting one
out of every two women. Bangladesh also
has one of the highest rates of child
marriages and adolescent motherhoods in
the world.
Security matters
The Government of Bangladesh is actively
engaged in commendable efforts of
managing Islamic radicalization, both at
national and international levels, but the
fight against national and global terrorism
remains a challenge. The Peace Accord for
the Chittagong Hill Tracts was signed in
1997, but the implementation has been
slow and considered not satisfactory by the
indigenous peoples and by national and
international observers. The lack of
substantial progress in implementing the
Chittagong Hill Tracts Peace Accord is
leading to an increasing sense of
frustration and disillusionment among the
indigenous peoples in the region. Even
though the situation in the area is
reasonably secure, there are tensions and
frequent confrontations between
indigenous communities and settlers from
the plains, mainly caused by conflicts over
rights and access to land. Violent clashes
between political groupings among the
indigenous communities also occur.
Climate change and geopolitical
challenges
Key emerging challenges include
increased vulnerability to natural disasters
and climate change adaptation,
accompanied by a rapidly growing urban
population. Situated in a low lying delta
and with a very high population density –
150 million people in an area only 144,000
square kilometers or three and a half times
the size of Denmark – Bangladesh is
extremely vulnerable to natural disasters
including floods, cyclones and tidal surges
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42
often with catastrophic consequences. In
the coming decades, the global sea level
rise is expected to inundate land areas in
the Southern part of the country displacing
people living on marginal lands along the
coast and rivers and in low-lying lands.
Lack of regulation and control of massive
water, air and soil pollution in and around
Dhaka and other major cities is a growing
problem affecting the liveability and
public health conditions for millions of
people. By 2025 half of the population is
expected to be living in urban areas, and
Dhaka is one the world’s fastest growing
megacities today. Land resources are
scarce, and access to and ownership of
land are characterized by a high level of
inequity, increasing conflicts over land
rights as well as widespread land grabbing.
Impressive economic growth – and
constraints
Bangladesh has experienced strong
economic development over the past
decade. Economic growth is progressing at
a steady rate of 5–6 percent per year on
average since 2004. The twin drivers of the
economy are robust remittances mainly
from the Middle East and exports with the
garment sector contributing two thirds.
The impact of the global economic crisis
has been relatively limited and prospects
of continued growth are relatively good.
Bangladesh’s GDP is about one third of
Denmark’s. Although half of the GDP is
generated by the service sector, agriculture
with its 20 percent share remains the
mainstay and employs half of the working
population. The economy is gradually
shifting from agriculture to
manufacturing.
The greatest constraint today lies in energy
production, which, although investments
have been made, remains insufficient to
keep pace with growth in manufacturing.
The garment and manufacturing sectors
offer good prospects of generating
employment and underpinning economic
growth, but they require structural and
infrastructure support to do so. It is
estimated that the annual economic growth
is 2 percentage points lower than the
potential due to lack of sufficient energy.
Working Conditions and labor rights
Industry growth in Bangladesh has been a
key factor in reducing poverty, notably by
creating employment in the garment sector
for women. However, it remains a major
concern that at some factories, wages and
security are at unacceptable levels. Less
than 5 percent of the workers are
organized and the existing trade unions are
weak and fragmented, especially when
compared to the often well organized and
resourceful employer’s organizations.
While regulations are in place on issues
such as fire and building safety,
compliance is a serious concern.
Government inspectors are understaffed
and under equipped. Widespread
corruption makes it possible for culprits to
escape inspection and sanctions. This only
enhances the duty of foreign buyers to
strengthen CSR and inspection schemes to
compensate for inefficient Government
control and impunity.
External assistance from development
partners
In recent years, the annual aid flows to
Bangladesh were approximately USD 1.2
–1.5 billion. The World Bank, the Asian
Development Bank, Japan, the United
Kingdom, the USA and the European
Union are major donors in Bangladesh.
Currently, aid accounts for approximately
40–45 percent of the country’s annual
development plan, including social and
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43
infrastructure development. Aid flows are
expected to grow over the next five years
with the UK announcing a doubling of its
assistance. Besides the traditional multi
and bilateral development partners, there
are also new large emerging development
partners such as China and India, which
are providing assistance mainly in the form
of credit lines and infrastructure loans.
Bangladesh is, however, not an aid
dependent country in terms of financing
with the total aid accounting for less than 2
percent of GDP.
Sector-wise Work Plan and Resource
Allocation
At this stage, I would like to briefly
present before you our work plans for
different important sectors for next fiscal
year and beyond, and corresponding
budget allocations to materialize those
plans.
(1) Human Resource Development
Education
Primary Education: The foundation of
education is laid at the primary level.
Hence, we are placing special emphasis on
ensuring quality primary education and
planning to expand primary education up
to class VIII by 2018.In order to retain the
benefit of hundred percent enrollment, we
have taken up a school feeding programme
for about 33 lakh 90 thousand children in
all primary schools of 93 upazilas.
Formulation of School Feeding Policy is
also in the offing. I have already
mentioned that out of the planned 1
thousand 500 primary schools, 1 thousand
19 primary schools have been constructed
in villages having no school and the rest is
under construction. We are implementing
the 3rd Primary Education Development
Programme (PEDP-3) with the assistance
of ten development partners/countries,
under which furniture and learning
materials are being supplied and teachers
are being trained. Efforts are on to make
all activities of primary education field
administration IT-based. In addition, tribal
children are now able to undertake primary
education in their own language as primary
education curriculum has been developed
in eleven tribal languages.
Application of Information Technology
in Education and Expansion of Higher
Education.
In order to ensure greater use of IT in
education, alongside other initiatives, we
are developing websites for all educational
institutions. The work of establishing
resource centres at 128 upazilas is
progressing fast. The task of setting-up
Barisal Engineering College is also
underway. Initiatives have also been taken
to establish Banghabandhu Sheikh
Mujibur Rahman Maritime University,
Gazipur Digital University, Khulna
Agricultural University, Bangladesh
Islamic Arabic University and Rabindra
University at Shahjadpur, Sirajganj. In
order to ensure the quality of higher
education at universities, we have almost
finalized the process of establishing an
Institutional Quality Assurance cell
ultimately going towards setting
Accreditation Council.
Quality Improvement of Technical
Education: In order to reap the benefits of
demographic dividend, we need wider
expansion of technical education. With this
end in view, a project of Tk. 924 crore is
being implemented to establish one
technical school in each of 100 upazilas. In
addition, development projects have been
undertaken for setting-up of a technical
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44
school in every divisional town, poly-
technical institutes in 23 districts, 4
technical institutes for women in 4
divisions, and an engineering college in
every division. Besides, a project has been
taken up to deliver basic literacy and life
skill trainings to the illiterate people of 15-
45 years age group.
Expansion of Quality Education: Our
strategies for expansion of quality
education such as, introduction of creative
questions, distribution of free books up to
secondary level, creative talent hunt and
provision of stipend have paid off greatly,
and they will continue. At the same time,
we will continue to provide special
trainings to the teachers of English and
Mathematics. Provision of stipends for girl
students at the graduate and equivalent
levels will also be continued from the
profit of Tk. 75 crore earned from Tk. 1
thousand crore seed money of the
Education Assistance Trust Fund of the
Prime Minister.
Health and Family Welfare
Community Clinic: We are planning to
distribute 13 thousand 861 mini laptops
among the community clinics to bring our
slogan „A Mini Laptop will be a Digital
Doctor‟ into fruition. Thisprogramme will
enable the rural people to avail
telemedicine services and keep themselves
updated with the latest information on
health related issues and education.
Expansion of Telemedicine Service: We
have undertaken a programme to provide
health services through mobile phones in
64 zila and 418 upazila hospitals. Side by
side, zila and upazila health complexes
will continue to provide health services
through video conferencing,
Maternal Health Voucher Scheme:
Maternal Health Voucher Scheme for the
poor, distressed and pregnant mothers is in
operation in 53 upazilas. Initiatives
havebeen taken to expand this programme
to another 20 upazilas. Besides,
emergency maternity services have been
strengthened in 132 upazilas.
Modernization of Public Health System:
We are formulating the „National Drug
Policy 2014‟ to modernize public health
system. At the same time, we are working
to integrate and update different
amendments to make Drug Control
Ordinance,1982, Drug Act, 1940, and
Drug Rules, 1945 and 1946 time befitting.
Finance minister propose to allocate Tk.
12 thousand 726 crore for the Ministry of
Health and Family Welfare for FY 2015-
16.
Science and technology
Expansion of Science-based Education:
We aim to develop a pool of scientists,
technologists, researchers and
educationists and are therefore providing
scholarships to suitable candidates under
the „Bangabandhu Fellowship on Science
and ICT‟ to undertake research and pursue
higher studies including PhD. Steps have
been taken to establish a trust to continue
this scholarship after the completion of the
project in 2016. A project is being
implemented to establish a national Marine
Research Institute at Ramu in Cox‟s Bazar
to conduct research on oceanography.
They also plan to set up an international
standard Marine Aquarium in this area
following the completion of this project.
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45
(2) Physical Infrastructure
Power: At the beginning, we had to resort
to some short-term solutions for resolving
the long pending problems of power
sector. Power crisis has almost been
mitigated. They are now taking a number
of steps aimed at lasting and sustainable
solution.
Coal-based Power Generation:
Considering that coal will be the main fuel
after 2015, we have finalized a plan to
establish coal-based power plants. Some of
the important steps are: forming
Bangladesh-India Friendship Power
Company for setting up 1 thousand 320
MW coal-fired power plant at Rampal,
signing an agreement with JICA for the
construction of 1 thousand 200 MW coal-
based power plant at Matarbari, installing
four power plants at Moheskhaliwith
combined capacity of 4 thousand and 800
MW electricity each generating 1 thousand
200 MW and another coal power plant of 1
thousand 320 MW at Paira in Patuakhali
with the financial assistance of China,
Malaysia, South Korea and Singapore. At
the same time, agreements have also been
signed to establish coal power plant to
generate 1 thousand 411 MW electricity
under public-private partnership.
Nuclear Power Plant: As a long term
solution of power crisis, we have
undertaken a plan to generate 2 thousand
MW and 4 thousand MW electricity from
nuclear energy by 2022 and 2030
respectively.
Power Import under Sub-Regional
Cooperation: We have fixed a target to
import 6 thousand 500 MW electricity by
2030 from the neighboring countries.
Since November 2013, we are importing
500 MW electricity from India. Import of
additional 600 MW is under process.
Discussion on importing hydro electricity
from Nepal, Bhutan, Myanmar and north-
eastern region of India is in progress.
Renewable Energy: We have established
Sustainable and Renewable Energy
Development Authority (SREDA) with the
intention of generating 2 thousand MW
electricity from the renewable energy
sources by 2020. We have also launched a
programme to produce 500 MW electricity
from solar energy.
Transmission Line: Till December 2014,
about 3 lakh 31 thousand km transmission
line has been constructed to supply
electricity to 1 crore 62 lakh users.There is
a plan to construct 10 thousand km new
transmission line and 1 lakh 50 thousand
km new distribution line to bring
everybody under electricity coverage.
Expansion of Energy Production
Capacity and Import of LNG: Technical
capacity of BAPEX has been enhanced
more than ever before so as to dig more
exploration wells in the prospective areas.
On the other hand, in order to reap the
benefits of maritime boundary dispute
resolution with India and Myanmar, we are
conducting 3D seismic surveys and
working on signing production sharing
contracts. At present, we have 26 blocks in
the deep and shallow water ready for
exploration. Production capacity of
Barapukuria Coalmine has been increased
by adopting advanced technology. If we
start extracting coal from the north side of
the mine by using an open method, 110
million MT of coal could possibly be
extracted over the next 25 years with an
estimated 4-5 million MT coal per year.
Besides, initiatives to install an LNG
terminal and import LNG to meet ever
increasing energy demand are underway.
Hopefully we will be able to supply gas
from imported LNG by mid-2017.
Natural Gas and its uses: Natural gas is a
valuable resource but its estimated reserve
34

46
is small in our country. As per preliminary
estimate, the total gas reserve is 38.2
trillion cubic feet with extractable net
reserve standing at 14.6 trillion cubic feet.
Currently, gas is mainly used in power
generation and industrial production. Gasis
also used in private households in different
cities of the country. In principle, we need
to do away with allowing further
household gas connection. Gas exploration
activities have been strengthened while
preparations have been made for LNG
import. A gas reserve has been discovered
in Bhola and a gas-based power plant will
soon be established there. Presently,
Dhaka and Rashidpur industrial area are
regularly receiving gas supply. But, its
supply to Chittagong andnorthern and
southern regions of Bangladesh is quite
limited. To increase supply of gas, we will
have to step upgas exploration within our
maritime boundary. At the same time,
formulation of a long term integrated
master plan for exploration, extraction,
import, distribution, and use of gas is
urgent as well as important. Power and
Energy Saving: We have, meanwhile,
started installing pre-paid meters in all
households in phases over the next three
years to ensure economic use of electricity.
Beside the expansion of energy
production, we also place emphasis on
saving of energy by 10, 15 and 20 percent
within 2016,2021and 2030 respectively
through saving and conservation of energy
in the industrial, commercial and
residential sectors. To this end, we are
formulating the 'Energy Efficiency and
Conservation Master Plan'. Steps are
underway to implement energy auditing
and energy management programmes in
industries. Alongside, we have undertaken
energy star labeling programme to
encourage the use of efficient appliances
among people.
Physical Infrastructure
Development and Expansion of Roads
and Bridges: In order to improve the
communication network of the western
part of Bangladesh, 61 bridges will be
reconstructed under the Western
Bangladesh Bridge Improvement Project.
Construction of2ndKanchpur, Meghna and
Gumti bridges is in progress. Besides,
steps have been taken to construct bridges
on the Golachipa, Paira and Kocha rivers.
At the same time, there is a plan to
construct the 2nd Padma Bridge at Paturia-
Goalando point in future. In respect of
road infrastructure, substantial progress
has been made in the upgradation of
Joydevpur-Chandra-Tangail-Elenga
highway into four lanes. We expect to
complete the following projects by FY
2015-16:
Eastern Bangladesh Bridge Improvement
Project; Dhaka-Chittagong and Joydevpur-
Mymensingh Highways four lane projects
;Construction of Sheikh Kamal, Sheikh
Jamal and Sheikh Russsel bridges on the
Barisal Patuakhali-Kuakata Highway;
Construction of Cox's Bazar-Teknaf-
Marine Drive (Inani to Sillkhali) -2nd
Phase; Upgradation of Jatrabari-Kanchpur
Highway into eight lanes ;Construction
of7thBangladesh-China Friendship bridge
on the Arial Khan river ;Apart from this,
formulation of a number of laws relating to
bus transit, road transport and traffic
system is underway.
Development and Maintenance of
Existing Roads: In order to re-construct,
rehabilitate, expand and upgrade
35

MTC Global Journal, Jan-Mar 2020 Issue, Vol-8, Issue-18, ISSN 2231-3710

MTC Global Journal, Jan-Mar 2020 Issue, Vol-8, Issue-18, ISSN 2231-3710

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MTC Global Journal, Jan-Mar 2020 Issue, Vol-8, Issue-18, ISSN 2231-3710