Advisory Center for Affordable Settlements & Housing

acash

Advisory Center for Affordable Settlements and Housing
ACASH

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Document TypeGeneral
Publish Date15/02/2018
AuthorBangladesh Economic Review
Published Byhttp://www.bbs.gov.bd/
Edited ByTabassum Rahmani
Uncategorized

Role of government in economic development in Bangladesh

A government is the system or group of people governing an organized community, often a state. In the case of its broad associative definition, government normally consists of legislature, executive, and judiciary. Government plays various role to state .Among various roles, economic role is one of the essential role which leads to a country apex of development. Economic development is the growth of the standard of living of a nation’s people from a low-income (poor) economy to a high-income (rich) economy. Economic development is the process by which emerging economies become advanced economies. In other words, the process by which countries with low living standards become nations with high living standards. Economic development also refers to the process by which the overall health, well-being, and academic level the general population improves. During the development, there is a population shift from agriculture to industry, and then to services.

Role of government refers to activities of government. Responsibilities of governing body of state. The government has many roles in economy. Like other businesses, the government spends and makes money, consumes goods and services, and employs people. Federal, state, and local governments raise funds directly through taxes and fees. They often borrow money from the public by selling securities, such as bonds. A bond is an investment in which people loan money to the government for a specified time and interest rate. Governments also disburse money via contracts with businesses or through social programs that benefit the public.

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