Transforming our world as better places, the 2030 agenda for sustainable development is setting 17 goals with 169 targets. This goal and targets are completely action oriented, easy, concise and universally applicable to all countries. To make a country as inclusive social development, environmental sustainability, inclusive development and peace and security, the application of these SDG goals is inevitable. Reduction of inequality among the people is the tenth number SDG goal, which is crucial in Bangladesh perspective. Inequality harms growth, quality relations of the public and political spheres and individual’s sense of fulfilment and self-worthand increases the poverty among the majority of the people. We have divided this goal in two parts i.e. a) ‘within means’to reduce inequality between urban and rural areas of our country and b)‘among means’ reduce inequality between developing countries Bangladesh and developed countries obviously population and geography have to consider on such comparison.
Income inequality has increased 7% in last ten years in Bangladesh. It shows the Gini coefficient which has gone .451 to .458.Dhaka city only includes 35% GDP of total domestic GDP. We don’t focus on other city along with Dhaka city for economic development. Woman in rural areas are still up to three times more likely to die while giving birth than living women in urban areas. What’s the reason Bangladesh is lagged behind within in income health and socially. Centralizing Dhaka city, inflation and rural areas people are likely less concern about the government policy. Dhaka is now respiratory of our country such economic, infrastructure development is happened through our Dhaka city.
So it is creating more problems to live in Dhaka because environment like air and sound pollution is severely polluted in Dhaka and also Dhaka has turned into second in the list of worst city in the worlds. Recently, the price of our necessary goods such as oil, natural gas has increased and it will persist in future which creates the creeping inflation between 5 to 6%. But nominal wage is stagnant most of these public and private workers which induces to such great income inequality.
Behind this scenes Bangladesh has performed impressively not only in terms of increasing and sustaining economic growth, but also in ensuring that growth is inclusive and pro-poor. In order to decentralizing of Dhaka city, economic sectorsshould beestablished outside of Dhaka city such Chittagong, Camilla etc. Investment more in health, education social protection especially private sector investment should also be increased. Minorities and ethnic classes need to be included with our labour forces. Urbanization should be environment friendly and authority should provide the symmetric information so that people expect the proper inflation and assert higher nominal wage. These are possible areas of development inBangladesh where we can and shouldreduce the inequality among the people.
Bangladesh is now least middle income country. Its existing per capital is $1602 and purchasing power parity is $3790 while India is now $6890 on PPP. UNDP has said that in developing countries, inequalityhas increased by 11% taking into account the growth of population compared to developed countries. Inequality in the poorest countries is 20% of the population, which is still up to their time more to die before their fifth birthday. We do expect that we shallsee all the people of the countryto have good food and access to health and education. Because In order to reduce the inequality,
Bangladesh has to grow 8% GDP growth then trickledown effect may be executed and 23.01% of people may eradicate from the extreme poverty line, which is possible. But lack of infrastructure, climate change, lack of skill and proper education, migration problem and Proper policy are the major causes of inequality and hindrance of economic growth. Economist has viewed infrastructure as a key ingredient of productivity and growth at least in the eye of Adam Smith.
TheWorld Bank (2013) estimated that Bangladesh needs to invest USD 74 to USD 100 billion in infrastructure till 2020.Bangladesh used to face drought, flood and cyclone in every year for green-house effect. Recently flood has affected swamps land and north-west side of Bangladesh which hampered the sessional crops. Rohingya migration problem is one of the major causes which hinder the general economic local market and geography. If they exist for long time our geography will go to the worse side and economic performance will reduce. Policy makers want to implement the inducing policy by World Bank and IMF.
This policy wouldn’t implement of our variety of economic market thus its failure most of the case .there are a lot of deficit of skilled human capital such as specified sector like information technology and business entrepreneurship. Bangladesh has a lot of opportunities for improvement. Legitimate migration has to be ensured. Closing the infrastructure gap, Attract the FDI, Skilled labour forces and proper employment Pledged to provide funding for adaptation and mitigation. Rohingya issue must be solved by diplomacy and cooperation with the other nations. Infrastructure raising to labour production and minimizing transaction cost are beneficial for economic growth.
Especially private sector investment should be encouraged for networking effect and raise our geo-political significance to attract the foreign direct investment. Bangladesh has to utilize the human dividend by providing proper technical education on special raising sector. Obviously our climate effect should be mitigated. Bangladesh has sign the INDC (intended national determine contribution) that encourages the developed countries to willingly fund for devastating affected developing countries like Bangladesh.
So Bangladesh can raise their voice and pervade the mitigation fund of coastal embankments, irrigation and proper adaption infrastructure development. Income inequality is a global problem that requires global solutions. This involves improving the regulation and monitoring of financial markets and institutions, encouraging development assistance and foreign direct investment to regions where the need is greatest. Facilitating the safe migration and mobility of people is also key to bridging the widening divide income according to UNDP.
SDG 10% achievement is only possible when all men and women are completely integrated with each other for development. Also our political environment should be fair and non-violence. Because such processions, political turmoil and shutdown hamper our economic growth.So Bangladesh is now most tremendous economic country and will be better if this SDG goal can be achieved.
The writer is an undergraduate student of the University of Dhaka.