B.Com Ist Year World Bank Question Answer Notes
(5) Domination by Western Nations : The manageme the World Bank was dominated by the Western Nations. Notasin Asian, African or Latin American was found competent enough to me the president of the bank.
(6) Loans for Specific Project: The critics have also pointed out that the Bank has granted loans which were intended for specific development projects, rather than for general developmental purposus. It grants loans on a basis of sound financial and economic analysis. Thus, it is a tougher, harder lender than many other commercial institutions.
(7) Repayment in Foreign Currencies: World Bank insists upon receiving the repayment of the loan from the borrowing nation in the currency in which it was extended to it. This create difficulty before the developing nation to comply with the requirement of the Bank.
INDIA AND THE WORLD BANK STUDY NOTES
World Bank has played a vital role in the economic development of India. India has got following benefits from the membership of World Bank:
(1) Financial Assistance : The World Bank had given loans under various schemes for the development of electric power, transport, and communications, development of basic industries, irrigational facilities, etc. By 1958, India became the single largest borrower from the Bank and had continued to retain that position for a long time. Till March, 2012, the Bank has been sanctioned loaie of US $ 91.81 billion, for India. The Bank has lent for the expanse of Indian Railways, generation and distribution of electricos development of multipurpose irrigation projects, developmen ports, air-fields, financial institutions like ICICI.
(2) Aid India Club: Apart from such loans extended to the public and private sectors, the Bank has also taken a keen interes the planned economic development of India. A consortium countries and international institutions interested in assistitis India has been formed under the auspices of the World Bank, this is known as ‘Aid India Club’. Besides, the IBRD and the IDA,
this ‘Club’ consists of ten countries viz, the U.S.A., the U.K., Germany, France, Canada, Japan, Austria, Belgium, Italy and the Netherlands.
(3) Technical Assistance: The World Bank has also extended technical assistance to India. It has lent to India the services of its technical experts from time to time. These experts have given valuable suggestions to the Government for the formulation and effective implementation of its development plans.
(4) Arbitration in Pakistan’s Dispute : The Bank has also wondered useful service in setting the Indo-Pak Canal Water Dispute. The Bank has also extended loan assistance to the two countries for the development of their irrigation canal system.
(5) Missions to Assess Development Programmes : The Bank has sent ‘Several Missions’ to India to assess country’s development programmes and also for field survey of various project. The Bank has vendered valuable service to India by accelerating the rate of its economic growth.
(6) Aid in Foreign Exchange Crisis : The Bank extended programme aid to India when she was confronted with foreign exchange difficulty. India had enjoyed this facility because of her adverse balance of payments position. In the year 1958, the Bank has provided the aid of $ 100 million for this purpose.
(7) Advantages of Affiliates Institutions of the World Bank : India has also get advantages of the membership of IFC, IDA, ADB and MIGA, due to founder member of World Bank.
Conclusion : Despite the above advantages, the Bank has come in for criticism with regard to its loan assistance to India :
(1) The loan assistance granted to India is inadequate. The Bank practising discriminating behaviour against the countries of Africa and Asia including India.
(2) The Bank has granted only tied loans to India. The loans are not provided in accordance with the requirements of the economy.
(3) The Bank has charged high interest on its loans. A developing country like India is not in a position to bear the burden of high interest charges.
(4) Under the pressure and advise of World Bank, Indian rupee was devalued. For getting the loans India have to formulate its economic policies according to the direction of World Bank.
Table of Contents
B.Com Ist Year World Trade Organisation Question Answer Notes
B.Com Ist Year Foreign Trade And Economic Growth Question Answer Notes
[PDF] B.Com 1st Year All Subject Notes Study Material PDF Download In English
B.Com 2nd Year Books Notes & PDF Download For Free English To Hindi
B.Com 1st Year Notes Books & PDF Free Download Hindi To English
B.Com 1st 2nd 3rd Year Notes Books English To Hindi Download Free PDF
B.Com Ist Year Unemployment Short Study Notes Question Answer
Follow Me
Leave a Reply