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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‘I did whatever I could to survive’Verma’s life epitomizes the emerging new India, where people are pulling themselves up by dint of their own hard work and gender roles are fast being reversed, with women... Show More + making the most of new economic opportunities. Seated in the one-room tailoring workshop run by her brothers from the tiny ground floor room of their family home, Verma recalls the struggles she has seen.“I did whatever I could to survive,” she says with a sadness that still lingers, “because I was both father and mother to my daughter.” Armed with a high school diploma, she worked a number of small jobs to help put food on the table at her parents' home.In true Indian tradition, the extended family lived together in a spare two-room house – 12 people in all, including her two brothers and their wives and children. One of her brothers was not up to much, putting the additional burden of sustaining him and his family on her young shoulders. Then, completing a bachelor’s degree al Show Less -
South Asia has seen an accelerated job growth and a substantial decrease in poverty over the past three decades, second only to East Asia. The region will be the largest contributor to the global workforce... Show More + over the next two decades. More and better jobs are needed to sustain growth and reduce poverty.According to the new flagship report, More and Better Jobs in South Asia, the region—defined by the World Bank as Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan and Sri Lanka,—will need to add between 1 and 1.2 million additional jobs every month for the next twenty years, equivalent to about 40% of the increase in the global labor force. Reforms will have to be accelerated if the region is going to meet the challenge of providing better jobs for them.Human CapitalSouth Asia has a young population and the second lowest female participation rate in the labor force. The demographic transition will result in more than 350 million people to enter the working age population o Show Less -
NEW OPPORTUNITIESAugust 11, 2011 - The United Nations commemorated the International Year of Youth from August 11, 2010 to August 11, 2011. To promote youth participation towards progress and development,... Show More + the Rural Livelihoods team at the World Bank has put youth at the forefront of poverty reduction and maximizing rural growth.SAROJA'S STORYSaroja (pictured above), like many others, could hardly string a few words of English together. Today she speaks boldly, thanks to 200 hours of training in English, soft-skills, and computer literacy offered by one of the many components of the Andhra Pradesh Rural Poverty Reduction Project.YOUTH PROVIDES OPPORTUNITIES TO ACCELERATE GROWTHSouth Asia is home to 26% of the world’s youth, with youth representing 20% of the region’s population. In this regard, South Asia is the youngest region in the world and each year between 2010 and 2015, an additional one million youth are expected to enter the labor market. There's a growing gap between urban and Show Less -
CHENNAI, December 23, 2010: The Government of India and the World Bank today signed a Credit Agreement of $154 million (approximately Rs 719 cr) for additional financing of the Tamil Nadu Empowerment and... Show More + Poverty Reduction Project.The Agreement was signed by the representatives from the Government of India, the Government of Tamil Nadu, and the World Bank. The signatories to the Agreement were Venu Rajamony, Joint Secretary, on behalf of the Government of India; K. Allaudin, Principal Secretary, Rural Development and Panchayat Raj Department, Government of Tamil Nadu; Dheeraj Kumar, Project Director, Government of Tamil Nadu; and Roberto Zagha, Country Director, World Bank, India.The objective of the Tamil Nadu Empowerment and Poverty Reduction Project – called “Vazhndhu Kaattuvom” locally, meaning “Let’s show how to live” – is to create economic opportunities and build social capital in the poorest communities. This puts poor people at the center of the planning and implementation of t Show Less -
Global Economic CrisisThe global financial crisis contributed to deceleration in real GDP growth in South Asia, from 8.7% in 2007 to 6% in 2009. This was largely driven by a pronounced decline in investment... Show More + growth and private consumption. Although the global financial crisis had a sharp negative impact on South Asia, the slowdown in regional GDP growth was the lowest among all developing regions.Since private capital inflows to South Asia is less significant as a share of its GDP as compared to other regions, the region escaped from a key transmission channel of the crisis. Also, domestic demand in the region was relatively resilient, having been cushioned by counter-cyclical macroeconomic policies. Growth is expected to rebound to 6.9 and 7.4% in 2010 and 2011.Global RecoveryThe report warns that while the worst of the financial crisis may be over, the global recovery is fragile. It predicts that the fallout from the crisis will change the landscape for finance and growth over the nex Show Less -