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The World Bank is planning to increase its annual lending in India to $3bn. India is by far the biggest recipient of the multilateral body’s funding and the present portfolio of projects in the country funded by the World Bank is its second biggest world-wide.
According to country director Michael F Carter, India must correct itself on various counts if it is to crack the formula for attaining millennium development goals.
Fiscal mismanagement and unproductive expenditure, weak service delivery, especially in social services like education and health, infrastructure bottlenecks and hindrances to investment and the rural crisis are some of these areas where action was needed.
Read IMF recommendations deal with government deficit
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