5 December 2022

Washington : Finance minister Nirmala Sitharaman has urged the World Bank to avoid a ” unidimensional ” view of the subsidies provided by the Indian government and asserted that it is important to differentiate between “distortive subsidies ” and ” targeted support ” to vulnerable households.

Speaking at an intervention of the World Bank Development Committee’s meeting on Friday, Sitharaman said that subsidies have made a definitive contribution to improving India’s performance on several key parameters of Sustainable Development Goals ( SDG ). ” We urge the Bank to avoid a unidimensional view of subsidies. It is important to differentiate between distortive subsidies and targeted support to vulnerable households, ” she said.

unidimensional view of subsidies
unidimensional view of subsidies

As an illustration , she said that by providing free LPG connections under the Pradhan Mantri Ujjwala Yojna over the last six years, the Indian government has ensured that access to clean cooking methods has achieved near saturation for women in India.

This has made a definitive contribution in improving India’s performance on several key parameters of SDG, Sitharaman said.

She told the Development Committee members that In dia has set up its first pure hydrogen-producing plant as well as its first 2G bioethanol refinery this year.

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