development, India, UID

Biometrics a factor in World Bank’s optimism on India

While India’s Economy has Turned the Corner, Wider Reforms are Needed to Boost Economic Growth (World Bank)

The report points out that India’s government has begun to implement reforms to unlock the country’s investment potential – to improve the business environment; liberalize FDI; boost both public and private investment in infrastructure; quickly resolve corporate disputes; simplify taxation, and lower corporate taxes. States are set to receive more resources and spending power, and the government has reiterated its resolve to implement the GST by April, 2016, a move that is widely expected to meaningfully increase India’s tax to GDP ratio. New models of delivering benefits through direct transfers to bank accounts, together with the biometric identification of beneficiaries, are expected to reduce leakages.

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