THE SECOND FIVE YEAR PLAN (1980-85) Part-2
The Second Five Year Plan of Bangladesh, spanning from 1980 to 1985, was a crucial economic development strategy focused on accelerating agricultural growth, diversifying the export base, and improving basic infrastructure, aiming to stabilize the post-liberation economy while dealing with challenges like natural disasters and limited resource availability. Key aspects of the Second Five Year Plan:
- Agricultural Emphasis:Prioritized increasing food production through improved irrigation facilities, promotion of high-yielding varieties, and expanding rural credit access.
- Industrial Diversification:Sought to move beyond traditional jute exports by developing new industries like textiles, leather goods, and light engineering to boost export earnings.
- Infrastructure Development:Focused on improving transportation networks by expanding roads, waterways, and power generation capacity to facilitate economic activity.
- Social Sector Focus:Included programs for primary education, healthcare, and family planning to improve human capital development.
Challenges faced during the Second Five Year Plan:
- Frequent Natural Disasters:Frequent floods and cyclones disrupted development efforts and required significant resources for relief and rehabilitation.
- Foreign Aid Dependency:The plan heavily relied on foreign aid, which was susceptible to fluctuations in donor commitments.
- Political Instability:Political turmoil during the period could have impacted policy implementation and investment decisions.
Overall, the Second Five Year Plan aimed to lay the foundation for a more robust and diversified Bangladeshi economy, but its progress was hindered by external factors like natural disasters and fluctuating foreign aid.