As a result, the unfinished roads and buildings were damaged and cost escalated to an enormous amount. The credit ratings of Amaravati bonds were affected negatively. The brand image of the state suffered and the confidence of investors was shaken.
The World Bank's Board of Executive Directors has approved two projects totalling $900 million to help Bangladesh strengthen fiscal and financial sector policies and improve urban infrastructure and management to ensure sustainable and climate-resilient growth.
In a major achievement, as many as 9 Indian ports have made it to the Global Top 100 in the latest edition of the Container Port Performance Index (CPPI), 2023, prepared by the World Bank and S&P Global Marketing Intelligence.
The WB report also highlighted that Pakistan is expected to miss its primary budget target as well, which would keep Islamabad in deficit for at least three more years.
Fatalities in road accidents reduced by 17 per cent in five years.
The agreement was signed by Dr CS Mohapatra, Additional Secretary, Department of Economic Affairs, Ministry of Finance on behalf of the Government of India; Rajdeep Dutta, Deputy Resident Commissioner, on behalf of the Government of West Bengal; and Junaid Ahmad, Country Director, India, on behalf of the World Bank.
The National Highways of India carry about 40 per cent of road traffic. However, several sections of these highways have inadequate capacity, weak drainage structures and black spots prone to accidents.
In the Rs 840 crore project signed, $82 million (Rs.615 crore) would be the share of the World Bank and $30 million (Rs. 225 crore) would be of the state government.
The fact is that a brain sitting in an uncongenial environment can drain away faster than if it goes to a stimulating interference-free environment abroad. It is decades of Nehruvian socialism which forced the best brains to migrate abroad. The critics seldom appreciated that the emigrants went because of paucity of career scope in India at the time.
It was preternaturally quiet, most people eating in silence.
