MADHYA PRADESH-Why Did D P Mishra Quit Congress

In terms of transfer of foreign resources, they have little significance to developing countries. Yet a disproportionate amount of costly intellectual and manpower resources are devoted to dealing with issues which can more cheaply, more effectively and more relevantly be dealt with at the local level. These are issues relevant for a dialogue on development philosophy, not for determining the lending programmes of an aid agency. It is necessary that the Bank continues to emphasise the ultimate goal of development, but its lending has to be more relevant to the foreign exchange needs of the development programmes of its members.