The net outflows from India during the fiscal ended June 1999 stood at $ 391 million and a whopping $ 2157 million during the period 1994-99, the report points adding India was the only country in South Asia to be in such a position. Pakistan and Bangladesh continue to have positive flows from the bank, it says. In fiscal 1999, while World Bank and IDA commitments to India totalled $ 1,055 million; undisbursed balance was $ 8,939 million, gross disbursements stood at $ 1,437 million, the repayments were $ 1,157 million resulting in net disbursements of $ 280 million. This along with interest and charges of $ 671 millionled to a net outflow of $ 391 million, the bank and IDA to India was a negative $ 391 million. For the 1994-99 period, against the net disbursements of $ 2636 million, the interest and other charges stood at $ 4,793 million taking the net outflows to a huge $ 2,157 million, it says. Bangladesh and Pakistan had positive flows of $ 354 million and $ 197 million respectively during the fiscal ended June 1999.

Apart from political instability, the imposition of economic sanctions by united states in the aftermath of nuclear tests by both India and Pakistan in May last year, affected the bank's lending programme in the first half of 1999, the bank said. Referring to South Asia as a whole, the bank said widespread civil conflict and political unrest impeded economic progress and external aid into the region which accounted for 40 per cent of the world poor.

INSIGHT:

India 4th largest economic power

WASHINGTON: India is the fourth largest economic power in purchasing power parity (PPP) terms,despite her unrealised potential and low per capita income, according to the World Bank.

India though ranked fifth by the World Bank on the basis of a population of 989 million, would stand at the fourth position (equal to that of Germany) if its current population, which is over one billion is taken into account. The country is ahead of as many as five (or six if Germany is included) out of the group of 8 industrial countries (US, Britain, France, Germany, Japan, Italy and Canada plus Russia).