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Friday, July 1, 2011

INDIAN ECONOMY: India not getting 'bang for rupee' from poverty schemes!

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Have you read, “Mayhem of the Miserables!” available @ http://www.smashwords.com/books/view/52075


May 19, 2011 / Reuters, New Delhi / DC.

Representative image - AP
Representative image - AP.

India's key social development programmes, which have formed the core election promises of the ruling Congress party at a cost of over 2 per cent of its GDP, are failing to effectively tackle widespread poverty, a World Bank report said on Wednesday.
The government's schemes to distribute food and guarantee work in rural areas suffer from poor implementation, red tape and corruption, the report said, common ailments that worry investors in Asia's third-largest economy.
Congress has trumpeted costly welfare schemes to lift hundreds of millions of Indians out of poverty and share the spoils of years of economic boom, propelling it to two successive victories in federal elections.
Though home to 69 billionaires, the country has more people living in poverty than the whole of sub-Saharan Africa.
While the Bank commended specific innovations and the impact of schemes in some states, it warned that welfare schemes were yet to make significant progress in helping up to 500 million people living below the poverty line in India.
"While India devotes over 2 per cent of GDP to her social protection programmes... the poor are not able to reap the full benefits of such large investments," the report stated.

With much of the the funds granted have been siphoned off by the moneybags, we cannot expect any miracles to happen in India's Poverty Alleviation Front!

This apart government depriving the livelihoods of the farmers and fisherfolk in favour of mega projects which not only do not pay the fair market price but also short-change the affected people in implementing the promised 'Resettlement and Rehabilitation Packages'!!

These mega projects are further grabbing more land than actually required for the project and also do create far less industrial jobs (directly and indirectly, put together) than they take away from the farming sector!!!

Full Story at,

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