India

How does Bhutan’s Economy Look?

How does Bhutan’s Economy Look?

Bhutan has maintained solid economic performance to date in 2017 but delays in hydropower construction may affect its economic outlook with growth expected to slow to just under 7 percent in 2018. 

Bhutan is one of the smallest, but fastest-growing economies in the world. Its annual economic growth of 7.5 percent on average between 2006 and 2015, placed the country 13th of 118 countries, compared to the average global growth rate of 4.4 percent.

This growth has been shared by a majority of Bhutanese, with extreme poverty dropping from 25 percent in 2003 to 2 percent in 2012, based on the international poverty line of $1.90 a day (at purchasing power parity). This is among the rate in South Asia and compares favourably to the regional poverty rate of 19 percent. Equally impressive improvements were made in access to basic services such as health, education and asset ownership.

The recent developments on strong lending growth, inflation, exchange rates and international reserves show that Bhutan maintains a solid and stable growth in the first half of 2017. Gross international reserves have been increasing since 2012, when the country experienced an Indian rupee shortage. Reserves exceed $1 billion, equivalent to 10 months of imports of goods and services in mid-2017 which makes the country more resilient to potential shocks. This is also very much in line with the requirement spelled in the 2008 Constitution which outlines minimum reserve requirements. The Bhutanese ngultrum, pegged to the Indian rupee, have been stable or slightly appreciating against the U.S. dollar.

Despite recent solid growth and macroeconomic stability, we need to carefully monitor its Development. According to the latest Bhutan Economic Update, the hydropower construction and the implementation of the 2016 Economic Development Policy are expected to support this solid growth during the next few years. However, with confirmed delays in the completion of two hydropower projects, the contribution of the hydropower sector to growth will be lower than the originally projected. Therefore, the World Bank revised down its growth forecasts in 2019/20 by a few percentage points to 7.6 percent, still among the fastest in the world.

by · Thursday, 14 September 2017 · Bhutan, India
How does Bhutan’s Economy Look?

How does Bhutan’s Economy Look?

Bhutan has maintained solid economic performance to date in 2017 but delays in hydropower construction may affect its economic outlook with growth expected to slow to just under 7 percent in 2018. 

Bhutan is one of the smallest, but fastest-growing economies in the world. Its annual economic growth of 7.5 percent on average between 2006 and 2015, placed the country 13th of 118 countries, compared to the average global growth rate of 4.4 percent.

This growth has been shared by a majority of Bhutanese, with extreme poverty dropping from 25 percent in 2003 to 2 percent in 2012, based on the international poverty line of $1.90 a day (at purchasing power parity). This is among the rate in South Asia and compares favourably to the regional poverty rate of 19 percent. Equally impressive improvements were made in access to basic services such as health, education and asset ownership.

The recent developments on strong lending growth, inflation, exchange rates and international reserves show that Bhutan maintains a solid and stable growth in the first half of 2017. Gross international reserves have been increasing since 2012, when the country experienced an Indian rupee shortage. Reserves exceed $1 billion, equivalent to 10 months of imports of goods and services in mid-2017 which makes the country more resilient to potential shocks. This is also very much in line with the requirement spelled in the 2008 Constitution which outlines minimum reserve requirements. The Bhutanese ngultrum, pegged to the Indian rupee, have been stable or slightly appreciating against the U.S. dollar.

Despite recent solid growth and macroeconomic stability, we need to carefully monitor its Development. According to the latest Bhutan Economic Update, the hydropower construction and the implementation of the 2016 Economic Development Policy are expected to support this solid growth during the next few years. However, with confirmed delays in the completion of two hydropower projects, the contribution of the hydropower sector to growth will be lower than the originally projected. Therefore, the World Bank revised down its growth forecasts in 2019/20 by a few percentage points to 7.6 percent, still among the fastest in the world.

by · Thursday, 14 September 2017 · Bhutan, India
Fresh thinking on economic cooperation in South Asia

Fresh thinking on economic cooperation in South Asia

Young Economists sharing the stage with Sanjay Kathuria, Lead Economist and Coordinator, Regional Integration (Left to Right: Aamir Khan/ Pakistan, Sreerupa Sengupta/ India, Sanjay Kathuria/ World Bank, Mahfuz Kabir & Surendar Singh/ Bangladesh) Photo By: Marcio De La Cruz/ World Bank


That regional cooperation in South Asia is lower than optimal levels is well accepted. It is usually ascribed to – the asymmetry in size between India and the rest, conflicts and historical political tensions, a trust deficit, limited transport connectivity, and onerous logistics, among many other factors.

Deepening regional integration requires sufficient policy-relevant analytical work on the costs and benefits of both intra-regional trade and investment. An effective cross-border network of young professionals can contribute to fresh thinking on emerging economic cooperation issues in South Asia.

Against this background, the World Bank Group sponsored a competitive request for proposals.  Awardees from Bangladesh, India, and Pakistan, after being actively mentored by seasoned World Bank staff over a period of two years, convened in Washington DC to present their new and exciting research. Research areas included regional value chains, production sharing and the impact assessment of alternative preferential trade agreements in the region.

Young Economists offer fresh thoughts on economic cooperation in South Asia

Mahfuz Kabir, Acting Research Director, Bangladesh Institute of International and Strategic Studies and Surendar Singh, Policy Analyst, Consumer Unity Trust Society (CUTS International) presented their research: Of Streams and Tides, India-Bangladesh Value Chains in Textiles and Clothing (T&C). They focus on how to tackle three main trade barriers for T&C: a) high tariffs for selected, but important goods for the industries of both countries; b) inefficient customs procedures and c) divergent criteria for rules of origin classification.

Sreerupa Sengupta, Ph.D. Scholar at Centre for Economic Studies and Planning, Jawaharlal Nehru University, New Delhi discussed Trade Cooperation and Production Sharing in South Asia – An Indian Perspective. Reviewing the pattern of Indian exports and imports in the last twenty years, her research focuses on comparing the Global Value Chain (GVC) participation rate of India with East Asian and ASEAN economies. Barriers to higher participation include a) lack of openness in the FDI sector; b) lack of adequate port infrastructure, and long port dwell times; and c) lack of Mutual Recognition Agreements (MRAs).

Aamir Khan, Assistant Professor, Department of Management Sciences, COMSATS Institute of Information Technology, Islamabad presented his work on Economy Wide Impact of Regional Integration in South Asia – Options for Pakistan. His research analyzes the reasons for Pakistan not being able to take full advantage of its Free Trade Agreement (FTA) with China, and finds that the granting of ASEAN-type concessions to Pakistan in its FTA with China would be more beneficial than the current FTA arrangement. The work also draws lessons for FTAs that are currently being negotiated by South Asian countries.

by · Monday, 11 September 2017 · Bangladesh, China, India, Pakistan
Sri Lanka: Building a more resilient economy

Sri Lanka: Building a more resilient economy

At the launch of the Sri Lanka Development Update (SLDU), our Twitter chat #SLDU2017: Environmental Benefits of Economic Management set out to explore how Sri Lanka could meet the twin challenges of increasing its physical and financial resilience.
 
The panel comprised experts from the World Bank – Country Director for Sri Lanka and the Maldives, Idah Pswarayi-Riddihough; Senior Economist Ralph van Doorn and senior environmental specialist Darshani De Silva – and Kanchana Wickramasinghe, a research economist in the Institute of Policy Studies. Together, they unpacked the SLDU, discussed its key findings and fielded questions from across the region around its main themes.
 
The bi-annual report, notes key economic developments over the preceding months, placing them in a longer term and global perspective; in the Special Focus section, it explores topics of particular policy significance to Sri Lanka. 
 
Ralph started with the idea that Sri Lanka faces a window of opportunity during which key reforms could transform the country and its economy. He noted that Sri Lanka’s position in the global economy improved its global growth prospects, as well as that of its key export partners. Low commodity prices and the restoration of the GSP+ preferential trade arrangement with the EU had also combined to improve the outlook for the Sri Lankan economy.

For Idah, the country’s mood and the government’s commitment to change were critical to success:   
 

#SriLanka has demonstrated potential for significant reforms. Crucial for the move to a higher middle income status #SLDU2017

— Idah Pswarayi-Riddih (@Idah_WB) August 21, 2017

The panel delved into how natural disasters and extreme weather events posed a threat to Sri Lanka’s growing economy. In the short-term the damage was clear and serious, with losses amounting to several billions a year, as Idah noted in her blog. During the chat, she emphasised how Sri Lanka needed to be prepared for future disasters or it would cost the country enormously.
 
Kanchana pointed out that in the long-term, disasters could set back poverty alleviation efforts, especially in agricultural and rural areas, adding:
 

it can induce #urban #rural #migration – has implications on #foodsecurity in #lka #SLDU2017 #climatechange

— Kanchana (@Kanchi_w) August 21, 2017

With the chat underway, questions poured in from an online audience who were interested in diverse issues – from managing Sri Lanka’s ongoing drought and its impact on the Northern Province to what insights the SLDU had to offer other countries in the region such as India.

by · Wednesday, 6 September 2017 · India, Maldives, Sri Lanka
Online regulations and LGBT rights: A test for China’s legal system

Online regulations and LGBT rights: A test for China’s legal system

On June 30, 2017, the official China Netcasting Services Association (CNSA) released a new regulation related to online broadcasting. This is the latest step in a government-led effort to tighten political and administrative control over mass communication and social media through the implementation of new laws, rules, and regulations. In a country with 1.3 billion…

      

 

 

by · Friday, 1 September 2017 · China, India
And a river runs through it

And a river runs through it

Integrating the Brahmaputra’s innumerable ferries into Assam’s wider transport network

Anyone who has visited Assam cannot help but being struck by the mighty Brahmaputra. The river straddles the state like a colossus, coursing through its heart, and severing it into two – the northern and southern banks. During the monsoon, so vast is the river’s expanse – almost 20 km in parts – that you cannot see the other side. And so fearsome can be its waters that the Brahmaputra is India’s only river to have a masculine name; all the others have feminine appellations. Yet, just four bridges, including India’s longest bridge that was recently inaugurated on its tributary the Lohit – and one more under construction – span the state’s entire 900 km stretch of river.
 
Given this formidable natural barrier, most of Assam’s towns have developed on the river’s southern flank, where the plains are wider. With little connectivity, the northern side remains cut off from the mainstream, and is largely underdeveloped.

 
What’s more, small communities who live on the river’s hundred or so inhabited islands, remain isolated. It can be quite frustrating to see a school or a medical center on the other side and not be able to get to it! Only Majuli, the world’s largest riverine island and an administrative district by itself, supports schools and some form of medical facilities for its more than 100,000 residents.

by · Monday, 21 August 2017 · India

The heat is on

India has a priority to combat poverty and, like China, is torn between economic growth and emissions reduction. “The consequences of climate …

by · Monday, 21 August 2017 · China, India, Thailand
Is technology the way forward for addressing mental health among youth?

Is technology the way forward for addressing mental health among youth?

After an accident at his workplace, Bhoomi, a 26-year-old from rural Tamil Nadu, India, lost interest in work and isolated himself from everyone. His neighbors were at a loss to understand the change in his behavior. He was labeled a “lunatic,” which worried his parents and propelled them to seek help.
 
Mental illness or disability can be a debilitating experience for an individual as well as his or her family. People not only have to deal with the physical and biological impacts of an illness, but also with the social and cultural stigma that accompanies it.
 
This was what Bhoomi and his family went through before they benefited from the Tamil Nadu government’s Mental Health Program (TNMHP).
by · Saturday, 12 August 2017 · India

WhatsApp-ening in India’s measles-rubella vaccine campaign? ☺️☺️☺️

It’s a Saturday night  and my phone memory is full again. Another 53 messages have come through from Uttarkhand, and then 37 more from Telangana. Scrolling through them is a rainbow of colour and activity with the bright clothes of women health workers blurring as my finger scrolls with the red and white dots of the campaign materials. My finger pauses on an image. A pharmacist has drawn an impressive cartoon of a family with a message about the campaign in the local language, Pahari. Already the cartoon has gone viral on local WhatsApp groups. As materials in the various…

The post WhatsApp-ening in India’s measles-rubella vaccine campaign? ☺️☺️☺️ appeared first on UNICEF Connect.

by · Thursday, 10 August 2017 · India
Karnataka Becomes India’s First State to Safely Dispose Biomedical Waste at all Public Health Facilities

Karnataka Becomes India’s First State to Safely Dispose Biomedical Waste at all Public Health Facilities

What happens when infected needles, syringes, plasters, surgical gloves and intravenous sets are disposed of carelessly? Well, for a start, they spread hepatitis and HIV, not only among the poor rag-pickers who unsuspectingly handle them, but also infect all the waste around, multiplying the hazard manifold.  Then, when the waste is not properly incinerated, it causes further damage, polluting the very air we breathe. Liquids wastes are particularly harmful; they can leach into the soil and contaminate the water supply, with often devastating consequences.

Yet it is heartening to see how a few dedicated individuals can make a difference.
 

Nurses using needle cutter to destroy used syringes
by · Thursday, 10 August 2017 · India