19 July, New Delhi Ajay Banga, the head of the World Bank, who is presently in India, highlighted that India has recovered from the pandemic comparatively stronger and that continuing the economic momentum would be the greatest approach to combat poverty and stimulate development.
Banga, an Indian-American, visited a skill centre facility in Dwarka and spoke with students enrolled in different skill development programs. Banga will begin serving a five-year term as the World Bank Group President on June 2, 2023. In May of this year, the World Bank’s executive directors chose Banga to serve as the institution’s 14th president for a five-year tenure. “I believe India has had a benefit in combating poverty because of its expanding economy. India had some difficulties during the epidemic, but has emerged from it largely unscathed…When asked to comment on a Niti Aayog study that indicated 13.5 crore Indians have escaped poverty in the previous five years, Banga stated that creating more employment was the greatest method to combat poverty here in the nation’s capital.
‘National Multidimensional Poverty Index: A Progress Review 2023’ was the title of the Niti Aayog paper that was issued on Monday. According to the research, between 2015–16 and 2019–21, 13.5 crore people in India were able to escape multidimensional poverty.
Banga said that the pandemic, climate change, and rising debt in certain nations all had an impact on the progress gained in eradicating poverty during the previous three to four decades.
“Growth is the finest method to hammer a stake through poverty. Additionally, you must give skilling for employment in every other manner. For such positions, education must be made available. For individuals to grow up, you must give healthcare, Banga stated.
India, he said, is focused on both job creation and economic development.
Therefore, he stated, “I’m actually more optimistic today given all the infrastructure investment that has been made in both the country’s physical and digital infrastructure.”