SME Times is powered by   
Search News
Just in:   • Modi at UNGA: 10 highlights of India's solutions at 'unparalleled' scale  • Import duty norm relaxed to improve containers availability  • Premium valuations biggest risk to market rally  • Big relief for service sector with SEIS release: FIEO  • Rs 300cr undisclosed income detected by I-T at financing syndicates 
Last updated: 05 Sep, 2021  

west-bengal-mapTHMB.jpg World Bank considers giving loan to Bengal for social welfare schemes

West Bengal Map
   Top Stories
» Import duty norm relaxed to improve containers availability
» Big relief for service sector with SEIS release: FIEO
» Semiconductor shortage to further impact PV sales in Sep
» Centre to bring new cooperative policy soon: Amit Shah
» Make SEEPZ a world-class facility, says Piyush Goyal
SME Times News Bureau | 05 Sep, 2021
The World Bank is considering approving a loan of 125 million dollars to the West Bengal government to help its efforts to strengthen and empower the vulnerable groups of society. To avail the loan the state government will have to engage an Independent Verification Agency (IVA) that will verify the Disbursement Linked Results (DLR).

The World Bank intends to finance the state government towards the cost of the "Women's Empowerment and Inclusive Social Protection Programme" and apply part of the proceeds for consulting services. This will help in certain welfare schemes launched by the state government like ‘Kanyashree', ‘Rupashree', ‘Lakshmir Bhandar', ‘Swastha Sathi', ‘Widow Pension' and ‘Old Age Pension'.

The state government has embarked on a long-term strategy to enhance inclusiveness of its social protection schemes to address these emerging needs and challenges that the economy faces. Primarily, the State is focused on widows, who have a challenging social position with little or no inheritance rights and high levels of dependence on their children.

The state also provides disability pensions - a scheme to support affordable household-community based care, ruling out the need for expensive institutional care. Apart from that the state also has low labour force participation of women like Kanyashree and Rupashree.

This will not only help the state government to help develop the policy framework and tools for a unified delivery system at the state level but the proposed operation aims to strengthen the capability of the state to build an inclusive and efficient social protection system, which will empower the vulnerable groups. The program is designed for the Widows and Scheduled Caste/ Scheduled Tribe Senior Citizens. This will allow greater expenditure benchmarking for state schemes and improve citizens' access by combining IT with frontline case management.

According to the finance department the state government and the Bank have agreed to concentrate Bank financing in two key result areas that contribute to the achievement of Program Developing Objective (PDO). The areas include strengthening Social Protection Delivery Systems for Vulnerable Populations and empowering Women and Vulnerable Populations. In order to provide evidence of continued progress towards the PDO as well as achievement of intermediate outcomes, the state government and the Bank have agreed on a set of Disbursement-Linked Indicators (DLIs).

As a part of the understanding with the Bank the state government will have to engage an IVA that will verify periodically, through paper and physical inspection and field survey, the accuracy and quality of results and eligible disbursement amounts claimed by the state government in its documentation supporting each disbursement claim.

"This will be a huge boost to the social welfare schemes. In this pandemic situation when the country is suffering from an economic slowdown this will help the state government to carry forward its social welfare schemes more effectively," a senior finance department official said.
Print the Page
Add to Favorite
Share this on :

Please comment on this story:
Subject :
(Maximum 1500 characters)  Characters left 1500
Your name:

  Customs Exchange Rates
Currency Import Export
US Dollar
UK Pound
Japanese Yen 58.85 56.85
As on 26 Sep, 2021
  Daily Poll
COVID-19 has directly affected your business
 Can't say
  Commented Stories
» Rajasthan the most unemployed state after Haryana(1)
» Credit monitoring cell to monitor MSME loans(1)
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter