Socio-Demographic Depletion Due to COVID-19 Impact and Government Intervention: A Review in Bangladesh

Abstract

COVID-19 known as coronavirus disease, has been dominating the headlines all over the world since about a year ago which is now almost under control. The World Health Organization (WHO) has labeled it a pandemic. Bangladesh is struggling with this virus with its scarce resources. Nearly two million people have been reported as confirmed cases of coronavirus disease in 185 countries worldwide in the five months after the virus first emerged in December 2019. The COVID-19 pandemic affected people directly or indirectly all over the world. There has been a slowdown in all sectors worldwide and most of the global population was placed under lockdown. The families of 43.9 percent of the students might live in poverty, and export revenues from RMG fell by 18.12% from the previous year. Households in Chittagong city corporation experienced the least decrease in average income (11.7%) while the households in Sylhet city corporation experienced the most reduction in average income (63.4%). This COVID-19 created a widespread global shock. The government of Bangladesh has declared several stimulus plans worth a combined total of about USD 11.90 billion for the agricultural sector to ensure the country's food and nutritional security, for doctors, nurses, and the homeless for social safety, and for business sectors including small and medium enterprises and cottage industries at the early age of pandemic. There were 23 COVID-19 stimulus packages total across the nation, with a total outlay of USD 1.23 billion which is 4.44% of GDP. Approximately USD 3,529 million for the service sector and the impacted industries, USD 589 million to cover workers' salaries/allowances, and those of staff working in industries focused on exports were allocated as a package to tackle the serious impact of the COVID-19 pandemic.