Contrastive Analysis, since its introduction as a potential predictor of the influence of the learners' first language on the second language and the resultant errors, has constantly been subject to criticism on both theoretical and empirical grounds. This once-popular approach of interpreting errors resulting from the interference from the native language met a gradual decline in acceptability as Behaviorism, the theory on which it was based, lost its credibility. Also, empirical findings pointed out its ineffectiveness as the predictor of errors. However, contrastive analysis projects have been carried out in different parts of the world to avoid errors in specific language areas, including pronunciation. This paper aims to shed light on the origin, evolution and significance of the theory, especially in designing instructional materials for the Bengali learners of English as a second language.