World Bank President Jim Yong Kim at a roundtable meeting with Indian government ministers. The World Bank has aligned its 2013-2017 strategy with the Indian government’s 12th five-year plan. Photo by: Graham Crouch / World Bank / CC BY-NC-ND
Although India has tempered absolute poverty, halving it to under 30 percent, the South Asian country remains home to a third of the world’s poor. Economic growth is hardly inclusive as scheduled castes, scheduled tribes and women remain marginalized and unable to reap the benefits of India’s recent successes. Further, much of the emerging middle class run the risk of slipping back into poverty, with consumption levels just slightly above the poverty line.
Key challenges undermining India’s progress include underdeveloped infrastructure, weak agricultural and manufacturing sectors, and poor natural resource management. Against the backdrop of a rapidly rising population, these constraints translate to limited access to economic opportunities, slow growth and declining environmental conditions.
This article is for Devex Members