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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Two-thirds of the world’s poorest people remain uncovered, says WB reportWASHINGTON, May 13, 2014 – Social safety net programs have grown exponentially around the world in recent years, but more than two-thirds... Show More + of the world’s 1.2 billion poorest people –those living on less than US$1.25 per day—are still not covered, says a new World Bank report. According to The State of Social Safety Nets 2014, more than 1 billion people in 146 low- and middle-income countries benefit from social safety net programs, yet 870 million of the world’s poorest people remain un Show Less -
WASHINGTON, October 7, 2013–Economic growth in Sub-Saharan Africa (SSA) remains strong with growth forecasted to be 4.9% in 2013. Almost a third of countries in the region are growing at 6% and more, and... Show More + African countries are now routinely among the fastest-growing countries in the world, according to the World Bank’s new Africa’s Pulse, a twice-yearly analysis of the issues shaping Africa’s economic prospects.Buoyed by rising private investment in the region and remittances now worth US$33 billion a year supporting household incomes GDP growth in Africa will continue to rise and pick up to 5.3% in 2014 and 5.5% in 2015. Strong government investments and higher production in the mineral resources, agriculture and service sectors are supporting the bulk of the economic growth. As Africa’s growth rates continue to surge with the region increasingly a magnet for investment and tourism, Africa’s Pulse notes that poverty and inequality remain “unacceptably high and the pace of reduction una Show Less -
Subsidies often keep poor hungry, boost fiscal deficits and encourage corruption WASHINGTON, July 25, 2013 - Global food prices declined for three consecutive quarters, then rose in May and June, remaining... Show More + close to historical peaks. Some countries with high poverty and weak safety nets are now responding to this chronic volatility by scaling up consumer food subsidies but these are often counter-productive, the World Bank Group’s quarterly Food Price Watch reported today.“Poorly designed food subsidy programs that lack transparency and accountability in implementation do not benefit poor people. These programs can be very costly and prone to corruption, and waste scarce fiscal resources,” said Jaime Saavedra, World Bank Group’s Acting Vice President for Poverty Reduction and Economic Management. “Reforming such programs is a policy priority, leading the way to smart subsidies that target the most needed and complement existing safety nets.” Saavedra added.According to the latest Show Less -
Is it an employment program? Is it an anti-poverty program? Is it a safety net? Is it a disaster management program, is it…..? Actually, it’s all of these. Public works programs are both good development... Show More + and good politics. India’s National Employment Guarantee Scheme (now called the Mahatma Gandhi EGS) , despite its implementation challenges, is fast becoming the stuff international lore is made of.Demographers talk of the diffusion effects of ideas of low fertility and other behaviors. And while South Asian countries have a history of public works programs as safety nets – a history that actually goes back to the Maurya Empire in circa 3rd century BC - the diffusion effect of NREGS across South Asia is apparent. This is as much due to the urgent employment needs in all countries in the region, as due to the fact that the Congress victory in India was purported to have hinged significantly on NREGS.Consider some South Asian countries. Nepal has several public works programs based on bo Show Less -
OVERVIEWMarch 10, 2010 - The state of Bihar in India is home to some of the country's poorest people. But a new reform effort by the Bihar government, backed by World Bank funding and technical support,... Show More + has helped it improve public finance management and direct the proceeds to getting more children into schools, to immunizing its people, and to fighting corruption. Reducing poverty and accelerating growth in the state are likely to have national implications, particularly in helping India reach the Millennium Development Goals.HIGH POVERTY LEVELS, POOR INFRASTRUCTURE AND SERVICESBihar is one of India’s largest and poorest states. Until 2007, economic growth in Bihar was much slower than the rest of the country. The state’s public services and infrastructure were among the worst in India. Nearly half of all workers were agricultural laborers, about double the national average. Only a third of the women were literate, infant mortality was high, and over half the children were underweight Show Less -