Welcoming the relaxation in foreign direct investment (FDI) norms, World Bank's Country Director in India Onno Ruhl said it is important for the government to open up the economy as it needs investment.
Banking reforms led by RBI Governor Raghuram Rajan would not be hampered when he exits in September as India's macroeconomic policies are fairly strong, World Bank Country Director India Onno Ruhl said on June 20
As per World Bank statistics, of the 2.4 billion people who lack access to improved sanitation globally, more than 750 million live in India, with 80 percent living in rural areas.
Multi-lateral lender World Bank on Wednesday approved USD 250 million loan for Jhelum and Tawi Flood Recovery Project for reconstruction of flood-affected public infrastructure in Jammu & Kashmir.
In an exclusive interaction with CNBC-TV18‘s Malvika Jain, World Bank‘s country director in India Onno Ruhl said the Washignton-based lender is working on a plan to support the implementation of PM‘s pet project.
"The World Bank has approved a USD 500 million credit for the Rural Water Supply and Sanitation (RWSS) Project for Low Income States to improve piped water supply and sanitation services through decentralised delivery systems in the Indian states of Assam, Bihar, Jharkhand and Uttar Pradesh," World Bank said in a release.