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India's economic growth impressive: WB

India, the largest recipient of World Bank aid, touching 53 billion dollars in the last fiscal, has achieved impressive economic growth with its mortality rate and poverty showing a decline, the World Bank said in a report.

"Economic growth since 1980 has been among the fastest in the world. Social indicators for literacy, education enrolment, disease and mortality and tender have steadily improved and poverty has fallen since the mid-1970s," it said.

India, which received 53 billion dollars in cumulative World Bank assistance at the end of the last fiscal, has also developed a diversified industrial base and a relatively large and sophisticated financial sector.

Its software sub-sector, "one of the most dynamic in the world, has experienced a sustained and rapid upswing, with exports rising from 734 million dollars during the 1955-56 fiscal to 2.65 billion dollars in fiscal year 1999-2000, demonstrating the continued strength of the sub-sector."

These successes "have taken place against a backdrop of India's well-established democratic system -- the largest in the world -- which provides its population with a significant degree of political freedom and stability," the report said.

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The World Bank in India

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