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In 2022, Bangladesh became the unbeaten women's SAF champions in Kathmandu. This time also women's clean will be held in Kathmandu. After the SAF...
HomeEditorTo increase per capita national income, production should also increase

To increase per capita national income, production should also increase

Average per capita income in the country increased by 35 dollars. This income is two thousand 784 dollars as of the current fiscal year. In the fiscal year 2022-23, the per capita income was $2,749. Bangladesh Bureau of Statistics (BBS) released this calculation of per capita income on Monday, May 20. This per capita income has been calculated assuming a dollar price of 109 taka 97 paisa.

At the price of 109 taka 97 paisa per dollar, the per capita income of the people of the country is more than three lakh taka. For the first time, the average per capita income has crossed three lakh rupees. The average per capita income for the current financial year is Tk 3 lakh six thousand 144.

Per capita income is not the income of a single person. Total national income is calculated by including income from within the country as well as remittance i.e. income from abroad. This is calculated by dividing the income per capita.

The increase in per capita income of the people of the country is undoubtedly a good news. It is also a big achievement of the government. But the majority of the people of the country will never see all the achievements of a government equally. We don’t expect that either. But for the last few years, Bangladesh has been showing surprise in per capita income. It is said that neighboring countries are moving forward at their own pace, leaving behind India and Pakistan. Economist in this context. Debapriya Bhattacharya said, considering the economic growth patterns of Bangladesh and India, it can be seen that income inequality has increased recently in both countries. Wealth inequality has also increased. But inequality is more in India compared to Bangladesh. Both countries are not experiencing inclusive economic growth. It should be remembered that the size of Indian economy is about 10 times larger than that of Bangladesh. Again being a very large country, the economic conditions of India vary greatly between different states. So the whole matter has to be looked at considering the size of the economy, the difference in conditions between different regions within the country, the situation caused by the covid epidemic, the economic structure and its power growth pattern, the inequality situation etc.

Economists say that the development in our country is happening on a large scale. However, it is not shared by everyone at a proportional rate. The number of rich in the society is increasing rapidly. Wealth is being accumulated in the hands of some people in such a way that the common people of the country are not getting their share. Even in this situation, the GDP of Bangladesh has increased by a surprising number. This achievement was not announced by the government. It has been recognized by international authorities. Now we have to think about changing the fate of a large number of people with limited income. As the country’s economy is progressing, the standard of living of people of all classes should also be increased.

Dr. Narayan Vaidya in an essay said, the term per capita income is related to the total population. If the total production volume of a particular period is expressed in monetary terms, the total income of the period is obtained. Here production means the production of goods and services. Again, dividing the total national income by the total population gives the per capita national income of an economy for a given period. The main objective of every country is to increase the per capita national income. For this reason, every country undertakes various development projects to increase the production of goods and services at certain times. This benefits the economy in two ways. First, setting up factories to increase production increases the production of material goods and simultaneously increases the amount of employment.

Again, if the project is undertaken in the service sector, then the production of the service sector increases and employment also increases in that sector. If the products produced by the industry can be exported, then a lot of foreign exchange can be earned. However, there is another way to earn foreign exchange. In countries where there is a lot of manpower and the surplus manpower cannot be utilized, that manpower can be exported abroad to earn foreign exchange. This has the potential to increase per capita national income. In general, to increase per capita national income, output and income must increase.