Did India take no loans from World Bank between 2015 and 2017 as claimed on social networks?

"70 साल के इतिहास में केवल 3 साल ऐसे हैं जब भारत ने वर्ल्ड बैंक से कर्ज नहीं लिया 2015, 2016, 2017 ये मोदी की विफलता है या सफलता । नमो नमः" (In these 70 years of self-reliance, there were just 3 years India did not take any loans from the World Bank-- 2015, 2016, 2017-- is this Modiji's failure or success? Namo namah- equated). These claims were made on June 1 by a Twitter manage @Sagrika4india which has train minister Piyush Goyal's Workplace as one of its followers. It was 'liked' over 1200 times and retweeted over 450 times.70 साल के इतिहास में केवल 3 साल ऐसे हैं जब भारत ने वर्ल्ड बैंक से कर्ज नहीं लिया 2015, 2016, 2017 ये मोदी की विफलता है या सफलता । नमो नमः-- Sagrika (@Sagrika4india) June 1, 2018 The tweet was also

shared by a Facebook page< a href=https://www.facebook.com/Rajneetikhabar/ target=_ blank rel=noopener > राजनीति (Rajneeti) on June 2. The post got 12,000 likes and has been shared by more than 25,000 people.Alt News did

a Google reserve image search and found that the post has actually been circulating throughout social networks, commonly shared by many right-wing Facebook groups, pages and specific users, drawing a lot more shares and likes. A user called Sutinder Chhabra posted the identical text on his timeline, with the hashtag #ModiFirSe. Chhabra's post has 1,000 likes and a huge share count of more than 76,000. A Facebook page I Assistance Modi Ji and BJP has likewise shared the very same text and the hashtag. It received 4,500 likes and 3,300 shares. A Facebook group that goes by the name Zee News Fan Group has drawn in 2,600 likes and more than 2,200 shares for the post.Is the claim true?Alt News went through World Bank data to discover all the projects in India moneyed by the worldwide monetary institution between 2015 and 2017. We found that loans worth more than US$ 96,560 million for 50 projects have been approved for India during the time duration in question.For instance, on June 23, 2017, International Bank for Reconstruction and Advancement(IBRD )dedicated US$ 250 million for the US$ 3,188 million Skill India Mission. IBRD is the World Bank wing that offers loans to middle-income establishing nations. Skill India Objectiveis a 6-year job that ends on March 31, 2023, when India will need to pay back the financial obligation to World Bank.However., the biggest loan authorized by the World Bank in current times in the US$ 1.5 billion loan for Swacch Bharat in 2015.

It is yet to be released as India missed out on the due date for study results. The nation is still paying the"dedication charge"of 0.5%for a loan it is yet to utilize. This amounts to UD$ 1.87 million or Rs 12.75 crore.India has actually taken a number of loans by World Bank bodies IBRD and IDA (International Development Association) in between 2015 and 2017.

World Bank approved loans to India in between 2015 and 2018|Source:
World Bank

The majority of the tasks moneyed throughout this time duration are still active.Source: World Bank In between 2015-2018, the Indian federal government accepted financial dedications worth US$ 131,100 million from the World Bank for 61 jobs. With six months left in 2018, this number is most likely to rise. On comparing the data of 2015-18 with that of the preceding four years (2011-14), we found a comparable trend-- US$ 132,520 million loaned for 66 jobs.

World Bank authorized loans to India between 2011 and 2014|Source: World Bank A report published by the World Bank in 2016 revealed that India is the largest recipient of loans amongst all countries given that its independence. These include the loans taken throughout the existing federal government's period and to recommend otherwise is ignorant. The current contract signed by the Indian federal government with the World Bank is a US$ 500 million(Rs 3,371 crore)loan to finance rural road jobs under Pradhan Mantri Gram Sadak Yojana (PMGSY). As a growing nation with pressing infrastructural requirements, India continues to depend on World Bank for funding different developmental jobs focusing primarily on transport, health care, education, energy, amongst others. It is thus nothing brief of ridiculous to assert that India has not availed a single loan from the World Bank for 3 successive years.The post Did India take no

loans from World Bank between 2015 and 2017 as claimed on social media? appeared initially on Alt News.

Source

https://www.altnews.in/world-bank-loans-india-2017-2017-modi/