Development Policies Since Independence
Having embarked on independence in 1971 with a war-affected economy, Bangladesh began its journey with the objectives to achieve higher growth and fight poverty from the very beginning. Both the achievements and the challenges of Bangladesh’s economic development can be attributed to policies that the government of the day has pursued since independence. The government pursued an agriculture policy that promoted agriculture sector activities under state control after independence in 1971. Bangladesh followed a public-sector-led industrial development plan from 1971 to 1975. This was largely attributed to the existence of a number of industrial units abandoned by non-Bangladeshis after independence. The basic feature of industrial policies during the post-independence period was to promote inward-looking import substitution and discourage exports. The Bangladesh Agricultural Development Corporation was the apex body that played a dominant role in the import, sale and distribution of agricultural inputs such as fertilizer, seeds and irrigation.