WB: Contain corruption to achieve turnaround

The World Bank8217;s latest report on Jharkhand: Addressing the Challenges of Inclusive Development was released by Deputy Chief Minister Stephen Marandi today. The report says, 8220;While mining and broad-based industrial progress will lead to growth in the medium to long term and create resource mobilisation, it is the agricultural and rural sector that needs to be continuously addressed in the short to medium term.8221;

A turnaround is possible provided Jharkhand strengthens its state apparatus, contains corruption by becoming more transparent, takes to e-governance, makes the climate suitable for investment, provides infrastructural facilities and opens opportunities to people in the rural areas, the report says.

8220;This requires several factors to move in tandem,8221; says the 105-page report, which was commissioned by the state Government under Arjun Munda in 2005.

8220;First, there is a need to focus on institution building, especially the aspects dealing with risk, risk perception and risk mitigating measures, which are necessary for growth. Second, there is a need to increase labour productivity in the agriculture and rural sector with high employment and increase in employment in the known rural sectors through development of small and medium enterprises. Third, each of the economic sectors should be able to grow to its long-term potential.