Political rivalry causes economic loss and impedes economic plans -Salahuddin Shuvo
Government must ensure entrepreneurial role and stable politics to achieve economic growth and nurture losses of Bangladesh. The economy is going through enough pressure over the past few years- so far. Risk increased due to violence, product supply system disrupted, investment shrunk, and growth slows down. The crisis arising from the current crisis political situation has overturned the strong system of the economy. Politics-economy serve as a complement to each other in a healthy democratic regime in general. But the unrivaled political structural economy faces disastrous situations. How is the mutual relationship between politics and economics determined? That has been discussed. In this article, in light of that relationship, I express the uncertainty of implementing mid-term economic plans in the post-election and upcoming parliamentary political environment.
Research shows that economic development was not possible to the desired extent in many countries in an unrivaled political environment. Question may arise – How meaningful is this discussion in a rising democratic country like Bangladesh where the foundation of democracy has not yet been established? In one word the answer is that such a discussion has meaning. The existing democratic system has had a significant contribution to the continuous economic progress of the country since the nineties. In the position of democratic government in ruling maintaining less democratic practices and conducting peaceful national elections without two, such as increasing mobility in economic activities, maintaining a supportive investment environment. If the opposite situation of the existing political environment is created during the past and upcoming parliamentary elections, there is a strong possibility that its negative reaction will be equal to the previous justice in economic activities.
Competitive politics has a crucial role in economic development, study shows. Political competition conducted within specific institutional structures ensures economic development. As:
Political challenges add new thoughts and knowledge to economic policy-planning.
Informs about alternative strategy
The weaknesses of policy- planning and collective initiative to implement decisions from time to time
People’s rational claims arise collectively if general public participation in political activities is easier.
It is easier for the political parties in ruling power to take the right financial decision by giving importance to those demands.
Political parties have to face the public constantly in a competitive and representative democratic environment. This is what the public representatives are under pressure. Due to such pressure, the public representatives fall into a kind of responsibility to implement economic policies. Political competition continues in a country as a whole creates positive interaction between economic- politics in economic development. It reduces the inability to implement economic policy and increases efficiency and boosts economy.
On the other hand, the problems that arise in the political vacuum environment are-
People’s demand and achievements become worthless.
People’s democratic claims get absent in the economic policy structure.
Political parties in government respond less or fail to react adequately in case of an emergency economic requirement.
In the new democratic country, there is no opportunity to build relations between politics and economy at this time.
The relations between politics and economy are interaction in the advancing democratic country continues to fade away.
On one side, the relationship between politics and economy in different countries becomes unbalanced in political situation.
Taking economic reform activities becomes slow.
Slow development activity.
In this situation, the public does not have the support to implement the economic policy of the government. There is an opportunity to cope with the above relationship between politics and economy with the past, present and future political situations of Bangladesh. The unchallenged political environment that was created or is going to happen again during the past and upcoming parliamentary elections – that situation does not seem to be possible in the desired scale of economic development by implementing mid-long term economic plans.
In the existing democratic system, it has not been possible to ensure equal participation of all political parties and public participation in the public. As a result, the minimum environment that was needed to maintain of political competition is not present. The expected positive interaction between politics-economic and economic development in the fiscal is still missing in its vast majority. Although not a desirable situation, the competitiveness at least that political environment was certain during the election- there were no remaining in the past few parliamentary elections. As a result, the country’s economy will be directed in the coming days by the government within the unrivalled political structure. “In such uncompetitive situation, implementation of mid and long term economic policies in the country in the coming years will not be easy at all because, the implementation of public participation economic policy structure will not be reflected in annual development programs. Due to the questionable positions of political institutions, running institutional reform activities, retaining skilled administrative structures, decentralization of power and taking activities in terms of people’s demand at the local level are absent. As a result, the normal rhythm of economic progress could be lost.
Such political government structure can create responsibility rather than supportive structure to implement long term economic development plans in the country. Targeted revenue collection is not possible due to question of government acceptance; the amount of money that will be required in the annual development programme is difficult to collect from domestic and foreign sources (IMF loans, oil deficit from Arab to Arab Proposal of a pineapple). It is not possible to get foreign aid and make good use of it to implement the projects. At this moment, Bangladesh’s foreign relations are facing various In an unrivalled political situation, these political and economic challenges are the difficult things the government should face.
After all, in the absence of political rivalry, the process of creating positive interaction between politics and economy has been delayed. At this moment it is important to ensure competition in the political process and establish democracy in political institutions. For this reason, the steps that are necessary to take for the participation of all parties and for fair voting in the upcoming parliamentary elections should be implemented immediately.
East west University
Reference by: Ahmad vi DU