World Bank praised the Modi government, said- India's support to the poor during Covid is unmatched

World Bank President David Malpass said that India's assistance to the poor and needy during the crisis of the global pandemic Covid-19 is unique. Other countries should also do targeted direct cash transfer instead of giving extensive subsidies like India. On behalf of the World Bank, Malpass released a research 'Poverty and Shared Property' report on Wednesday, saying that Covid-19 came at the end of the era of global progress in poverty reduction.

Over the past three decades more than a billion people have been lifted out of extreme poverty. The income of the poorest countries also got a strong base but with the arrival of the global pandemic Covid-19, the poorest people had to pay the heaviest price. The increase in poverty in poor countries shows that their economy is more informal. Their social security system is also weak. Also the financial system is less developed.

Despite this, many developing countries have achieved remarkable success during Covid-19. Malpass said India has helped 85 percent of rural households significantly by providing either food or cash through digital cash transfers. India has also given this facility to 69 percent economically weaker urban people. Similarly, South Africa spent $6 billion on social security to provide relief to the poor. Two crore 90 lakh people benefited from this.