With a population of more than 1.2 billion, India is the world’s largest democracy. Over the past decade, the country’s integration into the global economy has been accompanied by economic growth. India has now emerged as a global player.
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With economic reforms gaining momentum, India’s long-term growth prospects remain bright, says the World Bank’s India Development Update, a biannual analysis of the Indian economy.The report finds that... Show More + growth has rebounded significantly due to strong industrial recovery. Capital flows are back signaling growing investor confidence, the exchange rate has stabilized, and financial sector stress has plateaued. Economic growth is expected to rise to 5.6 percent in FY15, strengthening to 6.4 percent in FY 2016 and 7.0 percent in FY 2017.Although these projections could face risks from external and domestic shocks in the short term, downside risks can be offset by further progress on the reform agenda.Implement GST and dismantle inter-state check postsImplementing the Goods and Services Tax (GST), for instance, can transform India into a common market and dramatically boost the competitiveness of the manufacturing sector. This sector’s share in India’s GDP – at some 16% - has remained Show Less -
The Stories of Impact series highlights work involving the Global Facility for Disaster Reduction and Recovery (GFDRR) that has helped to reduce developing countries' vulnerability to natural... Show More + hazards and build communities' resilience.Weathering Future Storms in the SeychellesA damage and loss assessment supported by the World Bank Group and managed by GFDRR led to the development of multi-risk mapping and an extensive review of flood risk financing options for the Indian Ocean nation as it recovered from a cyclone. Read moreDisaster Planning Pays Off in Odisha, IndiaEffective disaster risk management significantly reduced casualties from Cyclone Phailin, and GFDRR and other partners are supporting the strengthening and scaling up of these efforts through the National Cyclone Risk Mitigation Project (NCRMP). Read moreBuilding Back Better in Tonga after Cyclone Ian Field assessments after Cyclone Ian revealed that properly designed and constructed housing infrastructure pr Show Less -
Explaining the Gap Between Facts and Perceptions of InequalityFacts and perceptions of inequality convey equally important, yet different, sets of information about a society. One refers to absolute well-being,... Show More + in terms of income, and the other refers to well-being relative to others or relative to past well-being. Author Paolo Verme uses recent evidence from Egypt and the United States to illustrate where fact and perceptions of inequality overlap, where they differ, and why this is important. Read full article here. Show Less -
The growth of cities is driven largely by the economic prosperity that they help create. But today cities are growing at unprecedented and challenging speeds. The World Bank's Urbanization Reviews offer... Show More + a framework for city leaders to make tough decisions on development in their cities by providing diagnostic tools to identify policy distortions and analyze investment priorities. What must be done to improve living conditions, especially in slums and hazard-prone areas? To create jobs? To expand the coverage and quality of basic services? The Urbanization Reviews help answer these critical questions.A series of prototypes have been piloted under the Urbanization Review, which seek to build a body of knowledge on urbanization challenges and public policy implications in a variety of country settings. Pilots in Colombia, India, Indonesia and Vietnam have already generated considerable traction with counterparts in national planning agencies and line ministries. Show Less -
Urban agriculture contributes to local economic development, poverty alleviation, the social inclusion of the urban poor and women, as well as to the greening of the city and the productive reuse of urban... Show More + wastes. While there is a growing awareness about the role of urban agriculture in the context of food security and poverty alleviation for urban populations, urban agriculture largely remains an informal sector that is not well integrated into agricultural policies or urban planning. Gaps in the availability of good quality, current and comparable data on the benefits and constraints of urban agriculture limit the design of relevant policies and interventions that would enhance the positive impacts for urban livelihoods and public health, as well as for the environment.The report Urban Agriculture: Findings from Four City Case Studies showcases four cities where urban agriculture is present. Through data collected in surveys, focus group discussions, and city consultations, this study Show Less -