A post is being shared on Facebook with a claim that while the Manmohan Singh government has taken a large amount of loan from the World Bank, the Modi government is running the country without taking any loans. Let’s try to analyze the claim made in the post.
Claim: Modi government did not take any loans from the World Bank.
Fact: On the World Bank website, it can be found that an amount of $ 21,750 million was lent to India, under different categories, by the World Bank’s IBRD (International Bank for Reconstruction and Development) and IDA (International Development Association) for the period 2014 – 2019. Hence the claim made in the post is FALSE.
When searched on the World Bank website about the loans taken by India, it can be found that an amount of $ 21,750 million was lent to India, under different categories for different central and state projects across India, by the World Bank’s IBRD (International Bank for Reconstruction and Development) and IDA (International Development Association) for the period 2014 – 2019. Also, the year-wise break-up of the total lending for the period 2014-19 can be seen here. It is not true that the Modi government has taken zero loans from the World Bank.
On the World Bank website, it can also be found that a loan agreement of $400 million US$ was signed between the World Bank and the Government of India for the Program Towards Elimination of Tuberculosis in June-2019.
To sum it up, the total lending by the World Bank to India during 2014-19 is ‘ $ 21,750 million’, not ‘Zero’.
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