World Bank President Jim Yong Kim said we are the first human generation which can eliminate extreme poverty and India should be the leader in eliminating poverty. Stating that he is looking forward to a Vibrant India along with Vibrant Gujarat, Mr. Kim said India's economy is expected to grow at 6.4 percent this year. Mr. Kim added that tax and subsidy reforms essential for inclusive growth in India. India has potential to be a leader in solar energy production, and the solar sector could be India's key contribution towards fighting climate change. The World Bank President said after slowing to sub-five per cent growth in the previous two financial years, the economy has started showing signs of pick-up as it expanded by 5.7 per cent and 5.3 per cent in the second and third quarter of 2015. The World Bank President said Prime Minister Modi and his government have been quickly putting in place the building blocks for even more rapid growth, streamlining national regulatory structure and promoting social inclusion. Jim said he was very encouraged by the recent proposal of a Constitution amendment bill for Goods and Services Tax. He said the World Bank had a deep interest in promoting policies and supporting projects that maximise sustainable and inclusive economic growth.
News On AIR | January 11, 2015 8:32 PM
World Bank President projects 6.4% economic growth in India this year