Nirmala Sitharaman Urges World Bank to avoid a Unidimensional View of SubsidiesTop Stories

October 15, 2022 19:28
Nirmala Sitharaman Urges World Bank to avoid a Unidimensional View of Subsidies

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Union Finance Minister Nirmala Sitharaman asked the World Bank to avoid a unidimensional view of subsidies that are provided by the government of India and she explained how important it is to differentiate between the target supports and the distortive subsidies to the vulnerable households. Nirmala Sitharaman spoke at an intervention of the World Bank Development Committee meeting. She said that the subsidies made a definitive contribution in improving the performance of the country on key parameters of the Sustainable Development Goals (SDG). Nirmala Sitharaman said "I urge the World Bank to avoid the unidimensional view of the subsidies. There should be a differentiation between distortive subsidies and targeted support to the vulnerable households".

Nirmala Sitharaman said that free LPG connections are provided under the Pradhan Mantri Ujjwala Yojna for the past six years. The Indian government has been promoting clean cooking methods for women. India's performance has improved on several parameters of SGD told Nirmala Sitharaman. Nirmala Sitharaman told the Development Committee members that India has set up a pure hydrogen-producing plant and 2G bioethanol refinery this year. There are three clear opportunities for the World Bank Group, she told. "Promoting the behavior change to increase energy efficiency and reduce food losses is the first. Helping all the countries in arranging concessional financing is the second. Supporting regional integration through IDA and IBRD is the third" told Nirmala Sitharaman.

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Nirmala Sitharaman  World Bank