Finance Minister Kamal eyes $12,500 per capita income in ‘Smart Bangladesh’

The Awami League government, nearing the end of its third consecutive term, has brought forward a plan to transition to 'Smart Bangladesh' after implementing the ‘Digital Bangladesh’ scheme.

Finance Minister AHM Mustafa Kamal provided an idea of the economic situation of ‘Smart Bangladesh’ during the presentation of the budget for FY24 in parliament on Thursday.

“In our 'Smart Bangladesh,' the per capita income will be at least $12,500, less than 3 percent of people will be below the poverty line, and extreme poverty will be reduced to zero.”

“Inflation will be limited between 4-5 percent, the budget deficit will remain below 5 percent of GDP, the revenue-GDP ratio will be above 20 percent, and investment will be 40 percent of GDP. We will achieve 100 percent digital economy and science and technology-based literacy.”

Healthcare will reach everyone's doorstep, said Kamal. “All the services required by the citizens will be at their doorsteps, including automatic communication system and sustainable urbanisation.”

“A paperless and cashless society will be created. Most importantly, a society based on justice and equality will be established in Smart Bangladesh.”

According to the latest data from the Bangladesh Bureau of Statistics, the current average per capita income in Bangladesh is $2,765.