Bangladesh To Be Developed Nation By 2041 : What Will Be Being Lacking and What Needs to Be Done?

Bangladesh to be a developed nation by 2041 following the present government’s declaration and the pace of growth suggests that it may be possible. The government's motto of being a middle-income country by 2021 has earned it a lot of prestige, but it's losing it now by implying that we'll be a developed nation by 2041. To explain the goal line of 2041, we need a lot of ifs and buts, which turns a noble dream into an idea. Based on current figures and projections, it would take another sixteen years to hit the amount of per capita income of USD 4,036. Even in 2031, we will be an upper-middle-income nation if we can boost both GDP growth and birth control. Simple math shows that if we want to become a developed country by 2041, we'll need to increase our per capita income by at least 9% consistently. That number would necessitate an average annual GDP growth rate of 10% for the next 24 years, assuming a 1% population growth rate from 2021. The regime must be optimistic in order to express expectations to the public, but these estimates could be unlikely, even though we believe that our infrastructure and institutions will change dramatically. As a result, while the motto of becoming a developed country should continue to motivate the nation to strive for greater heights, the year could be changed to 2054 or 2051 or 2060 which we do not to be. Thus, this study discusses in detail what will be being lacking and what needs to be done in reality to become a developed country by 2041. Without a doubt, our GDP growth has been marginally increasing in recent years, but the rate of increase in GDP growth is showing a slightly decreasing trend, necessitating urgent attention to fix institutional deficiencies first. It will be difficult to achieve the goal of becoming an upper-middle-income nation by 2031 if this does not happen. Reducing population growth to as close to zero per cent as possible is the most realistic way to achieve our dream. This study locates all those related parameters realistically and will be useful for policymakers to consider our recommendations on fiscal and monetary policy, budget, planning, and governance for Bangladesh