ECONOMY & BUSINESS
World Bank approved USD 1.5 billion in
financing for India
¨
World Bank approved USD
1.5 billion in financing for India.
¨
The financing supports
the Boosting Job Creation in the Private Sector Development Policy Financing
(DPF) Operation.
¨
The programme aims to
promote private sector-led job creation, economic growth, and structural
reforms.
¨
Development Policy Financing
(DPF) is a World Bank instrument that provides budget support for policy and
institutional reforms.
¨
The India operation
focuses on reforms in taxation, trade, investment, labour regulations,
entrepreneurship, and access to capital.
¨
In November 2025, India
consolidated 29 labour laws into four Labour Codes.
The four Labour Codes are:
1. Code
on Wages
2. Industrial
Relations Code
3. Code
on Social Security
4. Occupational
Safety, Health and Working Conditions Code
The reform package also includes tax simplification,
trade integration, and ease of doing business reforms.It supports higher labour
force participation of women, reduced barriers to entrepreneurship, and
streamlined trade and investment procedures.India is expected to add around 11
million young people to its workforce every year over the next two decades.The
financing is intended to help create jobs for this growing workforce through
private investment and business expansion.The World Bank was established in
1944 and is headquartered in Washington, D.C..Johannes Zutt serves as the World
Bank Vice President for South Asia.South Asia is one of the World Bank’s
regional operational divisions, with India being one of its major borrowing
members.
