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Home Law & Policy

India State Support Programme for Road Safety

June 30, 2022
in Law & Policy
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India State Support Programme for Road Safety
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In news– Recently, the World Bank has approved a $250 million loan to support the Government of India’s road safety programme for seven States.

About the programme-

  • The programme seeks to help realise the vision  ‘Zero road fatalities on Indian roads.’ 
  • The scheme will incentivise State governments to drive road safety interventions at the grassroots level with the main objective of curbing road accidents and achieving a reduction in fatalities.
  • Currently it is being implemented in Andhra Pradesh, Gujarat, Odisha, Tamil Nadu, Telangana, Uttar Pradesh and West Bengal. 
  • The $250 million variable spread loan from the International Bank for Reconstruction and Development (IBRD) has a maturity of 18 years including a grace period of 5.5 years.
  • Under this initiative, a single accident reporting number will be set up to better manage post-crash events.
  • The project will also establish a national harmonised crash database system in order to analyse accidents and use that to construct better and safer roads.
  • It will also fund network expansion of basic and advanced life support ambulances and training of first responder caregivers to road crash victims on the spot.
  • It will also provide incentives to the States to leverage private funding through Public Private Partnership (PPP) concessions and pilot initiatives.

Road crashes in India-

  • According to a World Bank study, road crashes are estimated to cost the Indian economy between 5% to 7% of GDP a year. 
  • Official government data show that each year road accidents in India kill about 1,50,000 people and injure another 4,50,000. 
  • More than half of the victims are pedestrians, cyclists, or motorcyclists and almost 84% of all fatalities are among road users between the working ages of 18-60 years.
  • Poor households that account for over 70% of crash victims bear a higher proportion of the socio-economic burden of road crashes due to loss of income, high medical expenses and limited access to social safety nets.

About World Bank-

  • The World Bank Group is one of the world’s largest sources of funding and knowledge for developing countries. 
  • Founded in 1944, the International Bank for Reconstruction and Development—soon called the World Bank—has expanded to a closely associated group of five development institutions.  
  • Originally, its loans helped rebuild countries devastated by World War II. 
  • Its five institutions share a commitment to reducing poverty, increasing shared prosperity, and promoting sustainable development.
  • Mission:
  • To end extreme poverty: By reducing the share of the global population that lives in extreme poverty to 3 percent by 2030.
  • To promote shared prosperity:By increasing the incomes of the poorest 40 percent of people in every country.
  • The World Bank is like a cooperative, made up of 189 member countries. 
  • These member countries, or shareholders, are represented by a Board of Governors, who are the ultimate policymakers at the World Bank. 
  • Generally, the governors are member countries’ ministers of finance or ministers of development. 
  • The World Bank Group is a unique global partnership which consists of five development institutions.

World Bank Group-

  • International Bank for Reconstruction and Development (IBRD) provides loans, credits, and grants.
  • International Development Association (IDA) provides low- or no-interest loans to low-income countries.
  • The International Finance Corporation (IFC) provides investment, advice, and asset management to companies and governments.
  • The Multilateral Guarantee Agency (MIGA) insures lenders and investors against political risk such as war.
  • The International Centre for the Settlement of Investment Disputes (ICSID) settles investment-disputes between investors and countries. India is not a member of ICSID.
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Source: The Hindu
Tags: NewspaperPrelims

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