In sum, the pace of reforms will need to be maintained or even stepped up to meet the country’s development goals. Devolving more policy space to the states may produce enclaves of competitiveness and help garner further support for wider reforms among India’s people and political class, the report said.
The World Bank has said that the Indian economy has turned the corner and has projected the country's GDP to grow at 7.5 per cent in the current #
The report struck a note of caution about the US monetary policy as the financial market is a major recipient of capital flows.
"While the Reserve Bank of India has taken preventive measures to reduce external vulnerability and has built international buffers as a first line of defence, the risk remains, warranting vigilance," said Poonam Gupta, Senior Economist, World Bank.
The World Bank update was unflattering about the performance of MGNREGS. It said while the MGNREGS has the potential to drastically cut poverty, the potential impact of the programme may not be realised in practice. (SH)
Fibre2fashion News Desk - India