Former governor of Bangladesh Bank (BB) Dr. Mohammed Farashuddin on Saturday said steps should be taken to increase people's earning capacity while minimizing inequality and poverty.

He emphasized inclusive economic activities for sustainable development and reducing the country's inequality level.

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Dr Farashuddin said this while speaking as the chief guest at a discussion meeting titled ‘Indomitable Bangladesh in Development Progress’ organized by the Education Research and Development Forum, Bangladesh (ERDFB) at the National Press Club on Saturday.

He said, employment will be increased by increasing industrialization, then the incomes of people will go up.

 “I have seen in my research that if the GDP growth is 10 percent, and if the population growth is 1 percent, then the national income doubles every 7 years,” Dr Farashuddin said.

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Speakers of the program also said Bangladesh will be the 29th economy in the world by 2030 and 23rd by 2050. And in 2026, Bangladesh will debut as a middle-income country, and in 2041 as a developed country.

Bangladesh University Grants Commission (UGC) member and president of ERDFB Professor Dr. Md Sajjad Hossain presided over the program. Vice-Chancellor of Sher-e-Bangla Agricultural University Dr Kamal Uddin Ahmed, Vice-Chancellor of Jessore University of Science and Technology Professor Dr Anowar Hossain, Vice-Chancellor of Rangamati Science and Technology University Selina Hossain, among others, spoke in the function.