After the government fulfilled over half a dozen conditions, including setting up an independent entity to purchase electricity from producers, the loan was finally approved by the World Bank (WB).
In 2008, India had to drop a proposal to borrow after China objected to a Rs 11,000 crore loan to strengthen electricity distribution and transmission in Arunachal Pradesh and Sikkim.
The Bank’s proposed ESS framework, which will replace the existing environmental and social safeguards, envisages new standards, mainly in respect of labour and working conditions.
Despite the modest jump, it marks the reversal of an adverse trend: FM
The World Bank, however, lowered India’s GDP growth to 7.8 per cent in 2016-17 and to 7.9 per cent in 2017-18.
India’s improved Doing Business rank puts the spotlight on state and local governments
A World Bank report yesterday ranked India at 130 out of 189 countries on the ease of doing business, up 12 places from 142nd rank last year.
The World Bank’s new poverty rate estimate of 12.4% does not mean that Indians have suddenly become richer. In fact, it is how you collect data that determines the poverty rate. What are the methods in vogue?
The recently-released India Rural Development Report, which is endorsed by the government, says 7% of the rural population is ‘very poor’; villages in eastern Indian states are the worst affected.
Any drop in poverty is a great story so to that extent it is a cause for cheer. It is also an attractive story because the total has a way of raising hope—the number of those living on $1.90 a day has slipped to less than 1 billion.
Under the URP, used in the National Sample Surveys since the 1950s, data is collected on the “30-day recall for consumption of both food and nonfood items to measure expenditures”.
India, accounted for the largest number of poor people in any country in 2012.
But the World Bank numbers, based on new methodology, should be viewed with caution.
Will be assessed next year on recommendations, have to take action on all these by December.
Urban sprawl accounts for 55.3% of India’s total population but official census understates it as just 31%, the report says.