
WASHINGTON, JUNE 18: Despite impressive gains made by India, the country stands last in the list of 53 countries surveyed for the quality of overall infrastructure in 1998, World Bank officials have said.
Rapid growth and poverty reduction in India depend on macroeconomic stability, an incentive framework that supports rapid, efficient and internationally competitive growth and, finally, investment in infrastructure, Wolfenson points. Roads, water supply, well-designed irrigation systems, flood control and electrification all make inroads against poverty, he adds.
The paradigm calls for the integration of the macroeconomic and financial systems, the traditional tools of development planners, with an analytical framework which includes structural, social and human aspects. quot;This holistic view of development,quot; he says, quot;calls attention to the structure of society, including good and clean government, effective legal and justice systems, a well-organised and supervised financial system, and a social safetynet and social programmes. The human aspects include education and knowledge institutions and health and population issuesquot;.