POVERTY ALLEVIATION IN BANGLADESH : PAST, PRESENT AND FUTURE

This article provides a comprehensive overview of poverty alleviation efforts in Bangladesh, from its independence to the mid-1990s, and looks ahead to future challenges. It critically assesses the various strategies that have been employed, from state-led development plans in the early years to the more market-oriented reforms and the rise of non-governmental organizations (NGOs) in later decades. The study analyzes the successes and failures of these different approaches in making a tangible impact on the lives of the poor. The research highlights the innovative role of microcredit as a major poverty alleviation tool pioneered in Bangladesh. The paper concludes by identifying the key challenges for the future, including the need for employment-generating growth, investment in human capital, and the creation of effective social safety nets to build a more inclusive and equitable society.

Poverty has been the single most persistent and formidable challenge for Bangladesh throughout its history. This paper offers a panoramic review of the strategies deployed to combat it, divided into a retrospective and a prospective analysis. The first part of the study examines the past and present. It traces the evolution of development paradigms, from the socialist-inspired five-year plans of the 1970s to the structural adjustment programs and the shift towards a market economy in the 1980s and 1990s. This section provides a critical evaluation of the state's direct interventions and their limited success. It then turns to the phenomenal growth of the NGO sector, with a particular focus on the microcredit revolution initiated by institutions like the Grameen Bank. The paper assesses the impact of microcredit on household income and women's empowerment, acknowledging both its significant contributions and its limitations. The second part of the paper looks to the future. It argues that while microcredit is a valuable tool, it is not a panacea. The findings suggest that a sustainable, long-term solution to poverty requires a multi-pronged strategy. This must include a focus on broad-based economic growth that creates formal employment, massive public investment in education and health to build human capital, and the establishment of comprehensive social protection systems to support the most vulnerable. The paper concludes that the future of poverty alleviation in Bangladesh depends on a synergistic partnership between the state, the market, and civil society.