{
  "id": 2918791,
  "title": "Neelkanth Mishra at Idea Exchange: ‘Rise in inequality since labour is in surplus, capital in shortage. Need to democratise access to capital’",
  "url": "https://urgent.news/2026/08/24/neelkanth-mishra-at-idea-exchange-rise-in-inequality-since-labour-is",
  "topic": "world",
  "section": "World",
  "published": "2026-08-24T02:00:51.000Z",
  "source": {
    "name": "The Indian Express",
    "slug": "the-indian-express",
    "url": "https://indianexpress.com/article/idea-exchange/neelkanth-mishra-at-idea-exchange-rise-in-inequality-since-labour-is-in-surplus-capital-in-shortage-need-to-democratise-access-to-capital-10846479/"
  },
  "original_language": "en",
  "account": "In a recent conversation with Aanchal Magazine, Neelkanth Mishra, the Executive Director at the World Bank, discussed India's growth ambitions and the role of the World Bank in this context. Mishra, one of the youngest representatives at the World Bank, highlighted three key aspects of his role in the institution.\n\nFirstly, as an ED at the World Bank, Mishra will be involved in board-level deliberations and policy issues. The World Bank is undergoing a transition, with its role needing rethinking under new President Ajay Banga. Mishra will also act as a facilitator, recognizing that the Indian financial system is vast with non-governmental financial credit now at $3 trillion, growing at 15% annually. The World Bank's $2-5 billion investment is relatively small compared to this. Mishra emphasized the need to democratize access to capital, given the changing cost of capital.\n\nSecondly, Mishra discussed the importance of the World Bank's expertise in solving market failures in India. Areas such as tourism and urbanization can benefit from the World Bank's experience in developing tourist hubs and supporting urbanization in large countries like China. Mishra aims to improve India's image in Washington DC, as it is often perceived through outdated perceptions. He believes that highlighting India's achievements in semiconductors, digital public infrastructure, and urbanization can create a more positive image.\n\nLastly, Mishra addressed the issue of foreign currency non-resident (bank) deposits and their impact on India's growth and currency. While foreign investments are necessary for growth, they can also lead to capital outflows, potentially causing current account deficits. Mishra suggests that the strategic choice lies in balancing the need for capital to fund growth with managing the risks associated with foreign investments.",
  "summary": null,
  "key_points": [
    "Mishra will participate in board-level deliberations and policy issues at the World Bank.",
    "Mishra aims to democratize access to capital and improve India s image in Washington DC."
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}