The Union budget, which would be tabled in the Parliament on July 8, is likely to focus on policies which would promote growth, investment and employment generation. Going by the address of the Finance Secretary D.C. Gupta at a World Bank seminar on ‘‘Millenium development goals in India’’, the budget is also likely to come up with policies aimed at poverty reduction. ‘‘Growth is imperative to create policy environment for promoting growth and investment,’’ Gupta said. He said economic growth does not benefit the poor unless it generates employment avenues, which is essential to meet the target of halving the number of people living below the poverty level by 2015. Citing India’s experience during the eighth Five Year Plan period, Gupta said ‘‘the sharpest decline in poverty rate was during 1992-97, when GDP growth was the highest.’’ Stressing on a ‘‘balanced approach’’ for growth with equitable distribution of resources, he said regional disparities needed to be removed through rapid economic development in states like Bihar, Uttar Pradesh, Madhya Pradesh, Orissa and Rajasthan. ‘‘The country faces the challenge of reducing poverty in these areas,’’ Gupta said, adding that delivery of public services have to be improved and last mile projects completed. He said foreign aid flows must increase as it amounts to a meagre 0.5 pc GDP and the rest is garnered from domestic sources. World Bank Country Director Michael Carter said service delivery in health, education, water, sanitation and safety needs to be improved. ‘‘How service delivery will be strengthened in the lagging states of the country needs to be further examined and better understood,’’ he said. Carter said that the World Bank is committed to supporting India’s efforts to achieve its human development goals and it is the ‘‘central’’ theme of their work in the country. World bank Vice-President (South Asia) Praful Patel said that there were two India — one where economic reforms and social changes have begun to take hold where people’s lives are improving and opportunities emerging, and other where millions of poor are struggling for access to basic services, struggling for opportunity.
