Banker to Banks

September 23–24, 2003World Bank GroupInternational Bank for Reconstruction and Development International Finance Corporation International Development Association International Centre For Settlement Of Investment Disputes Multilateral Investment Guarantee Agency International Monetary FundStatement by the Hon. Mr. Y.V. Reddy, Alternate Governor of the Fund for India, at the Joint Annual DiscussionMr. Chairman:1. Since we met last in April 2003, there have been some si

I. BACKGROUNDInfrastructure contributes significantly to economic development both by increasing productivity and by providing amenities that enhance the quality of life. The impact of infrastructure on economic growth is well documented internationally. In the Indian context too, elasticities of output with respect to various stocks of infrastructure indicate that the transport and communication sectors play a dominant role in explaining the variations in GDP and its

It is a matter of great pleasure to be here with you to deliver the keynote address on this occasion of the 8th anniversary of the North Eastern Development Finance Corporation (NEDFi). As a financial institution NEDFi is unique, given the challenging domain of the North Eastern Region (NER) that it endeavours to promote. Like many of you, I have often wondered why the growth and development performance of this richly endowed Region has been well below its potential;