India 's An Economical Growth Pattern

1891 Words8 Pages
Introduction India is a country developing on many levels but their people are suffering in poverty as they watch their countries economy grow. More than half of all workers languish in low productivity agriculture, while another quarter or so are in low grade services. About 95% of all workers are in informal employment, and roughly half are self-employed. What 's more, the recognized and paid participation of women in working life has actually been declining in a period of rapid income growth. This basic failure helps to explain several other failures of the development project so far: the persistence of widespread hunger and very poor nutrition indicators; the inadequate provision of basic needs like housing, electricity and other…show more content…
These strings come in the form of policy prescriptions called "structural adjustment policies." These policies or SAPs, as they are sometimes called require debtor governments to open their economies to penetration by foreign corporations, allowing access to the country 's workers and environment at bargain basement prices (Global Exchange, 2011). Funding from international lending institutions like the World Bank and the IMF are helping the social, economic, or political development of India. The World Bank has financed many projects in India that have proven to give a better quality of life to the people of India. Programs that the World Bank has funded are: • Between 2001 and 2009, India’s Education for All Program enrolled some 20 million out-of-school children, especially girls and children from socially disadvantaged families (The World Bank, 2016). • Created vocational training programs in select institutions has helped more graduates to find jobs, with their numbers rising from just 32% in 2006 to over 60% in 2011 (The World Bank, 2016). • Created Rural livelihood programs have mobilized more than 30 million poor households in 90,000 villages to form 1.2 million self-help groups (SHGs)–up from 8 million in 2009 (The World Bank, 2016). • Over past two decades, World Bank projects have contributed over $1.4 billion in financing for rural water supply and sanitation (The World Bank,
Open Document