Gains Against Poverty Made Over Years at Risk of Being Lost Now, Says FM Sitharaman to World Bank

The rural sector has been provided support by way of refinance support through NABARD, injection of additional liquidity of USD 27.13 billion in the farm sector and by way of increased allocation for the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS), she said.

With regard to strengthening of health infrastructure in the wake of the pandemic, the finance minister said the government has committed USD 2.03 billion for this. Being a responsible member of the global fraternity, India is ready to share its experience and also play a leading role in the South Asian region as part of its ‘Neighbourhood First’ policy, she noted.

The finance minister stated that collective action is the key for effective response to the pandemic and welcomed the strong performance in Q4 of FY 2020 wherein World Bank Group has committed USD 45 billion for COVID-19 response.