Issues and problems of development are significantly different in underdeveloped world from those of developed world. One prime difference is that the developed world was never ever underdeveloped. They were merely undeveloped. Underdeveloped world experiences the curse of poverty, child mortality, gender discrimination and inequality. Different theories of development regarding the development of the developed world may not successfully meet the problems of development in the underdeveloped world. The Human Development Index (HDI), Gross Domestic Product (GDP) and Gross National Product (GNP) may not measure development in the underdeveloped world. Rather, personal satisfaction and happiness can be good indicators of development in the countries struggling for development. Given that Bangladesh is an underdeveloped country, the incidence of poverty in Bangladesh holds one of the highest positions in the world. One third of the population live below the poverty line. 50% to 70% of women in the country are abused by their male partners physically, psychologically, sexually and economically. However, Studies indicate that education provides wider choices for occupation. Well educated person can succeed in entrepreneurship, business and jobs services. Since a significant amount of Bangladeshi women is illiterate or lower educated, they cannot contribute to household income. Thus, they become the victims of discrimination and domestic violence. The present study is an attempt to find out the role of education in decreasing poverty, gender inequality and child mortality in the context of underdeveloped countries. The study finds that education enables people for better opportunities to reduce poverty, income disparity, and gender inequality and child mortality.

Key words: Development, Education, underdevelopment, Personal satisfaction.