The last five years have witnessed huge economic upsurge in Bangladesh economy. In spite of the rising conflict between the secular bloggers and the intensely intolerant Islamic fundamentalists, Bangladesh has managed to step up their economic progress. Not only has the famous apparel or garment industry flourished but also other sectors have shown promising success, making the nation an integral member of the South East Asian economic scenario. Especially amidst the healthy economies of India and China, Bangladesh is making their mark prominent in several sectors. Although the country has been bogged down again and again by rampant corruption, power struggle and radicalization of Islam, it has made significant progress in consolidating its foreign monetary reserve. As far as the recent details obtained from the IMF's World Economic Outlook, Bangladesh has healthily advanced 14 steps to 44^th, surpassing countries like Vietnam, Tajikistan, Portugal, Qatar, New Zealand and Peru. In 2015, GDP grew to $205.3 billion which indeed was a remarkable achievement, considering the constraints which the country has been facing over the years.

The GDP of Bangladesh can be sub divided into agriculture, industry and services sector. As far as agriculture is considered, more than 30% of the GDP comes from this domain, which engages more than 60% of the working population. The growth of agro based industries has been an added advantage to the developing economy. Be it jute, rice, wheat, tea or, pulses, the alluvial soil of Bangladesh is helping Bangladesh become self sufficient in food production. The agriculture sector is certainly susceptible to floods and cyclones where improved disaster management system is needed to minimize the losses.

Any discussion on Bangladesh economy is incomplete without the textile or garment industry. Ever since its independence in 1971, Bangladesh shifted its focus from its import substitution industrialization strategy to export oriented industrialization. One of the basic reasons behind this shift was that `most of the industries were owned by the erstwhile West Pakistanis. Under Sheikh Mujibur Rahman, Bangladesh Textile Mills Corporation (BTMC) was formed, opening a new prospective phase in Bangladesh economy. The 1974 Multi Fibre Arrangement brought regulation in the global textile industry, which, however, didn't thwart the journey of Bangladesh textile industry. When President Ershad introduced privatization through New Industrial Policy (NPI), it marked another significant change in the existing textile industry domain in Bangladesh. Interestingly, textile exports from Bangladesh to the United States increased by 10% in 2009. There is no denying the fact that the success of Bangladesh in global textile and manufacturing industry remains indebted to its lowest labour costs. Side by side, there has been vast involvement of child labour in the textile industry. The 'Clean Clothes Campaign' is one such initiative which has stressed on maintaining international regulations of child labour and working conditions. Although there have been certain mishaps like Tazreen fashion factory fire in 2012, Rana Plaza collapse in 2013, Mirpur textile factory fire in 2013, Bangladesh is still the second largest ready-made garments (RMG) manufacturer after China as per the McKinsey Report in 2011.

The Telecom industry in Bangladesh is another area which is indeed promising with more than 100 million mobile subscribers. Internet facility has vastly improved as more than 29 million internet users have changed Bangladesh for the better. Although there was social media ban for some days, internet seems to be a major gateway ahead especially with regard to online transactions and online shopping.  E-governance is another area which has been of great boon to Bangladesh, catering to academic accomplishments, employment opportunities and up gradation in banking and other important sectors which specify growth.  The rise of e-commerce start ups is indeed a sign of a new era in Bangladesh and is expected to garner huge revenue like neighbouring India's e-commerce domain.

Most developing countries face the tricky situation in strategizing the subsidies and Bangladesh is no exception to this experience. Considering the macroeconomic picture of Bangladesh, be it BNP or Awami League, governments have opted for subsidies in promoting equality and distribution of key resources including food security and other concerns. Especially state owned enterprises have been encouraged so that in the near future Bangladesh can raise its bar of export competitiveness. In spite of the fact that Bangladesh has witnessed worst natural calamities creating deadlock in rural development, policies such as duty free import, conditional and unconditional cash transfers, loan grants and catering agricultural, industries and services sector have been of great assistance  even in time of adversity. Like all developing countries Bangladesh is also targeting reduction of fiscal deficit as much as possible. Certainly reducing public expenditure is one of the traditional methods employed and Bangladesh authorities too are aiming at such steps.  Public financing is thus one area where the country cannot rely on anything other than domestic financing sources and avoiding high intake of foreign financing sources.  In this regard, lack of utilization of foreign funds needs to be taken care of. Lowering tariff rates and easier customs processes are also required. The success of Gramin Bank has been overwhelming. One can certainly note that as far as state owned commercial banks are concerned, they comprise of more than 30 percent of total banking system assets of Bangladesh economy.

Last year, with the announcement of Indian IT giant Infosys spearheading the formation of the largest technological park, the IT scenario in Bangladesh has received tremendous boost. The Infosys investment is expected to create job requirement of around 60,000 IT professionals. Certainly it can be said that Bangladesh as a whole needs to concentrate on infrastructure, solving energy crisis and gas shortages. Foreign investment is indeed mandatory which is already showing glimpses of its capability with various MOUs being signed with the Indian and the Chinese companies. Cost of living has to match requirements of the stable share market, organized housing sector and other basic utilities. Unfortunately, the last three years witnessed several bandhs or hartals for political agitations and violent flare ups, resulting in immense loss of working hours threatening the rising prospects of Bangladesh economy. The political authorities need to negotiate among themselves to reinstate conducive business friendly atmosphere in Bangladesh.