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WB projects 6.4% growth in ‘15, says caste bias a concern

India is likely to develop at the rate of 6.4 per cent in 2015 and even faster in 2016.

By: Express News Service | Gandhinagar | Published: January 12, 2015 2:50:53 am

The president of the World Bank Jim Yong Kim, on Sunday, said that India had withered the worst global economic crisis and Indians were on the cusp of major progress.

He, however, added that the country needs to reduce the number of people living under extreme poverty in coming years. He said India is likely to develop at the rate of 6.4 per cent in 2015 and even faster in 2016 but cautioned that an enduring “bias” on the basis of caste and other factors can impede prosperity.

“Indian society has an enduring exclusion that is based, among other things, on caste identities. This bias can impede shared prosperity,” Kim said.While speaking on the issue of eradicating extreme poverty at the Vibrant Gujarat Global Summit, Kim said India had to play a major role as a significant number of people live under extreme poverty in the country.

“At World Bank, we work with countries for economic development and maximise economic growth. Though, we do this in the context of our effort to end extreme poverty by 2030 and to boost shared prosperity,” Kim added.

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