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The way India supported the poor during Kovid-19 is extraordinary – World Bank

When the outbreak of Corona had increased, then the whole world had suffered its impact. Especially poor countries had to suffer the most. There were also some countries which, despite being strong in every way, looked helpless. If we talk about the country of India, then Corona was spread in a dangerous way here too. But India faced it very easily and all the people showed unity and helped the needy people in Corona. World Bank President David Malpass praised India for the same thing. India had provided a lot of help to poor countries during the Kovid-19 epidemic crisis.

What did the President of the World Bank say?

World Bank President David Malpass on Wednesday praised the way India has supported the poor and needy people during the Kovid-19 epidemic crisis, terming it as an improvement. Malpass, while releasing the ‘Poverty and Mutual Prosperity Report’, said that other countries should also help other countries like India instead of extensive subsidies. He said that the biggest price of the epidemic had to be paid by the poor people. Poverty increased in poor countries due to the Kovid-19 epidemic.

economy weakens

David Malpass said that the Kovid-19 pandemic has led to economies that are more informal, social security systems that are weak and finance systems that are less developed. Despite this, many developing economies achieved great success during Kovid-19. India emerged like a country which maintained its economy which is commendable. The President of the World Bank said, “Through digital transfer, India has been able to provide food grains and cash support to 85 percent of the households in rural areas and 69 percent of the households in the urban area, which is a very good thing.

Digital transfer is essential

David Malpass said that, South Africa made the biggest expansion in social security coverage and spent $ 6 billion on poverty relief and it benefited about 29 million people. Succeeded in reducing and this was possible only with digital payment system. Malpass said, “Choose digital payment system instead of massive subsidy. Which is more effective in terms of supporting the poor and sensitive groups. More than 60 percent of the spending on digital payments reaches 40 percent of the people of the lower class. There is a bigger impact on income due to digital payments rather than subsidies.

Also read: Jaishankar Saudi Visit: Foreign Minister met the Indian community in Saudi, said- ‘India has done what anyone could not do’

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