Bangladesh has a comprehensive portfolio of social protection programs, fruits are yet to be reaped more effectively. However, the extent of their productive impacts is not yet analysed in great detail. The objective of this study is to estimate the productive impacts of cash transfer (old age allowance, allowances for the widowed, destitute and deserted women) and conditional cash transfer programs (stipend for primary students, secondary students and a combination of CFW, FFW, VGD, and 100 days employment scheme) in Bangladesh. The study used the HIES 2010 data. The study used PSM method. The outcome variables were i) labor allocation changes, ii) income generating activities, iii) investments in land, tools, animals, family enterprises, durable goods and housing, iv) investments in human capital, and v) coping mechanisms. Results show that different programs are producing different outcomes. So, policy makers should implement a number of interventions simultaneously to serve the needy.