India : Sustaining Reform, Reducing Poverty
The report analyzes India ' s
continued good progress in increasing incomes, and improving
living standards over the past decade, which after the
setback associated with the 1991 balance of payments crisis,
economic growth picked up, income poverty continued to
decline, and many social indicators, in particular literacy,
continued to improve. Likewise, there has been an opening to
private activity, trade policy and the exchange rate regime
have been further liberalized, and capital markets have been
reformed, leading to an improved investment climate.
Nonetheless, development progress has been steady, but
uneven, while in addition, the recent growth deceleration
was accompanied by a slowdown in investment, especially in
the private sector. The fiscal position of the general
government has now also deteriorated, with a rising budget
deficit, the result of a significant increase in government
consumption, and continued low revenue mobilization. But at
the same time, prudent monetary policy has helped contain
inflation, and strengthen the balance of payments. Based on
this analysis, fiscal reforms are needed in taxation,
financial, social, as well as for fiscal management. The
report also reviews the delivery of public services, showing
the need to access effective social safety nets, i.e.,
social services that require increasing the level, but more
importantly the quality of public expenditures in these
areas. This in turn requires improving the governance and
productivity of India ' s civil service, and the
pressing problem of affordability. An effective program of
civil service reform should include measures to achieve the
following three objectives: improve access to information;
strengthen accountability; and, reduce political
interference. Of special concern, are the weaknesses in the
service delivery of social sectors: education, health and
social safety nets, and, it has been argued that
decentralization, and local empowerment will ultimately
improve the quality of service delivery at the village
level. The report suggests improving the investment climate,
with a special look at infrastructure development, while
promoting rapid agricultural, and rural growth given its
importance in the socioeconomic, and political fabric of
India, through productivity-enhancing investments.
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Bibliographic Details
| Main Author: |
World Bank |
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| Language: | English
en_US |
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| Published: |
New Delhi: Oxford University Press
2003
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| Subjects: | ACCESS TO INFORMATION,
ACCOUNTABILITY,
AGRICULTURE,
ANTI-CORRUPTION,
AUTONOMY,
BALANCE OF PAYMENTS,
BENCHMARK,
BENCHMARKS,
BONDS,
BORROWING,
BUDGET DEFICIT,
BUDGET DEFICITS,
BUDGET MANAGEMENT,
CAPITAL FORMATION,
CAPITAL MARKETS,
CENTRAL GOVERNMENT,
CIVIL SERVICE,
COMPETITIVENESS,
CONSUMERS,
CORRUPTION,
DEBT,
DEBT SERVICE,
DECENTRALIZATION,
DEPOSITS,
ECONOMIC GROWTH,
ECONOMIC PERFORMANCE,
ELASTICITY,
ELECTRICITY,
ELECTRICITY SERVICES,
EXCHANGE RATE,
EXCHANGE RATES,
EXPENDITURE,
EXPENDITURES,
EXPORTS,
FINANCIAL AUTONOMY,
FINANCIAL INSTITUTIONS,
FINANCIAL SECTOR,
FINANCIAL SYSTEM,
FISCAL,
FISCAL DEFICIT,
FISCAL DEFICITS,
FISCAL DISCIPLINE,
FISCAL MANAGEMENT,
FISCAL POLICY,
FISCAL REFORM,
FISCAL REFORMS,
FISCAL RESPONSIBILITY,
FISCAL SITUATION,
FISCAL STANCE,
FISCAL SUSTAINABILITY,
FISCAL YEAR,
FOREIGN DIRECT INVESTMENT,
GDP,
GOOD GOVERNANCE,
GOVERNMENT DEBT,
GOVERNMENT POLICY,
GOVERNMENT REFORM,
GOVERNMENT SECURITIES,
GOVERNMENT SPENDING,
GOVERNMENT SUBSIDIES,
GOVERNMENTAL ORGANIZATION,
GROSS DOMESTIC PRODUCT,
GROWTH RATE,
HEALTH SERVICES,
HEALTH SPENDING,
HUMAN DEVELOPMENT,
IMPORTS,
INCOME,
INFLATION,
INSURANCE,
INTEREST RATES,
INTERNAL AUDIT,
INVESTMENT CLIMATE,
LABOR FORCE,
LEGISLATION,
LIVING STANDARDS,
MANAGERIAL EFFICIENCY,
MANDATES,
MARKET DISTORTIONS,
MONETARY POLICY,
NATIONAL INCOME,
PENALTIES,
PENSIONS,
PER CAPITA INCOME,
PER CAPITA INCOMES,
POTENTIAL INVESTORS,
PRIVATE SECTOR,
PRIVATIZATION,
PRODUCTIVITY,
PUBLIC AFFAIRS,
PUBLIC DEBT,
PUBLIC ENTERPRISES,
PUBLIC EXPENDITURES,
PUBLIC FINANCE,
PUBLIC INVESTMENT,
PUBLIC INVESTMENTS,
PUBLIC RESOURCES,
PUBLIC SAVINGS,
PUBLIC SECTOR,
PUBLIC SERVICE,
PUBLIC SERVICE DELIVERY,
PUBLIC SERVICES,
PUBLIC SPENDING,
REGULATORY SYSTEMS,
RESERVE BANK OF INDIA,
RESIDENTIAL CONSUMERS,
ROADS,
SAFETY NETS,
SAVINGS,
SOCIAL SAFETY,
SOCIAL SAFETY NETS,
SOCIAL SERVICES,
STATE GOVERNMENT,
STATE INSTITUTIONS,
TAX,
TAX ADMINISTRATION,
TAX RATES,
TAX REFORM,
TOTAL FACTOR PRODUCTIVITY,
TRADE POLICIES,
TRADE REFORMS,
TRANSPARENCY,
UNEMPLOYMENT,
UNEMPLOYMENT RATES,
UTILITIES,
WAGES,
WHOLESALE PRICE INDEX,
WORLD TRADE ORGANIZATION,
WTO STANDARD OF LIVING,
ECONOMIC DEVELOPMENT,
EDUCATION & ECONOMIC DEVELOPMENT,
CIVIL SERVICE REFORMS,
SOCIAL SECTOR,
MONETARY POLICIES, |
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| Online Access: | http://documents.worldbank.org/curated/en/2003/01/5044602/india-sustaining-reform-reducing-poverty
https://hdl.handle.net/10986/15046
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