SANEM-AAB Policy Brief on Youth Budget Framework in Bangladesh: An Appraisal
Composition of population plays a crucial role in the development effort. As is evident from the changing population structure in Bangladesh, the country is in the middle of a period of demographic transition. Lower fertility and mortality rates have increased the proportion of working age population and reduced the dependency ratio. This increased working age population or ‘youth’ presents a one-time demographic opportunity due to its critical implications for growth. Historically, realized potential of the increased labor force through investment in human capital during this window of opportunity has been described as demographic dividend. However, this window is time bound and requires concerted effort to produce the intended dividend. Bangladesh has entered into the first phase of demographic dividend in the early nineties and this window will close around 2031. Thus, it should be high priority for the government to invest in youths to cash in on demographic dividend. However, youth related discussions are often vaguely presented, segmented and extemporized. Even though Government of Bangladesh (GoB) has associated investment in youth with the development trajectory of the country through various plans and policies, most of the discussions are often broad based. Lack of structured and holistic approach towards these discussions result in inefficient implementation of well-intended policies. Overall, initiatives can be taken for designing and implementing a ‘youth budget’ to ensure coordination among all the plans and policies related to youths and adopt concise approach to address youth’s needs and challenges. This necessitates a deep dive into the current profile of youths to comprehend the existing challenges. Thus, the ‘youth budget’ will be an implementable framework that should facilitate mitigating the bottlenecks hindering youth development.
