Refusing to link his seeking voluntary retirement, a year before his superannuation, to his transfer to the relatively low profile power ministry, he said that he had conveyed his decision to the Prime Minister's Office on July 18.
Announcing a slew of measures for the sector, he said GST-registered micro, small and medium enterprises will be sanctioned a loan of Rs 1 crore in just 59 minutes through a new portal.
India was the World Bank's favourite last financial year when it came to extending financial aid in the form of loans, both among developing countries and the world's poorest nations.
Bihar, Uttar Pradesh and Jharkhand will have to do a significant amount of catching up.
'Today the real issue facing the Modi government is not about investment, credit and money supply and all those things economists like to talk about.' 'It is whether your average citizen has confidence in the government not to do something utterly whacky,' says T C A Srinivasa-Raghavan.
Corrupt practices are robbing the developing nations as much as $40 billion annually, even a fraction of which can fund treatment of over 6 lakh AIDS-affected people, according to the World Bank.
"We are concerned about the data localisation law and the new e-commerce regulations...they do not fully take into account the needs of all stakeholders, including American and other foreign companies," acting principal deputy assistant secretary of the US, Thomas Vajda said.
'The Modi government must create conditions to integrate millions into the rural economy as many migrants are certainly not going to return to live an undignified life,' notes Ramesh Menon.
The Centre also referred to various international economic reports and surveys to emphasise on the need for Aadhaar.
The World Bank has blacklisted Videocon Industries on allegations of fraud and corruption for three years.
The World Bank and The International Monetary Fund concluded their annual spring meeting here by increasing the voting rights of India, China and Brazil, among others, thus giving them more say in the institutions' functioning.
The World Bank now projects Gross Domestic Product growth of 11.3 per cent in 2007, but below 11 per cent in 2008, the World Bank's China Quarterly Update said.
Part of periodic Article IV consultations on state of the economy; team to have discussions with government as well as banks, private investors and civil society
The global economic slowdown that started in 2008 has changed the dynamics of many major economies.
The states now realise that the bulk of the money that comes from the World Bank does not come as grants. In fact, it costs them as World Bank loans carry an interest rate that is not cheap by any yardstick.
It further said India is facilitating external commercial borrowings by startups in order to encourage innovation and promote ease of doing business.
World Bank says India has bright prospects.
He said India has also opened its defence industry 'like never before' and sought investments in the sector.
Governments that did not respect the central bank's independence would sooner or later incur the wrath of financial markets, ignite economic fire, and come to rue the day they undermined the regulatory institution, Deputy Governor Viral Acharya warned.
In its latest report, the Bank has lowered its forecasts for developing countries, now eying growth at 4.8 per cent this year, down from its January estimate of 5.3 per cent.
.jpg)
Diplomatic channels activated to keep India eligible for soft loans from World Bank affiliate, though rules show it's probably time we made way for the needier others.
Indus Water Commissioner G Ranganathan has written a letter to his Pakistani counterpart Syed Jamaat Ali Shah inviting him for discussing the issue
The current World Bank portfolio in India consists of 68 projects with a total commitment of $19.57 billion, the statement said.
'Curiously, Pinarayi's approach, stressing the imperatives of development, is robustly backed by Nitin Gadkari.'
'I stand next only to Gadkari, one of the few outstanding ministers in the Modi government, in applauding Pinarayi's political courage and vision,' says Ambassador M K Bhadrakumar.
India has remained obsessed with cheap capital and infrastructure spending when instead the central constraint on Indian development remains the abysmal quality of Indians' skills, says Mihir Sharma.
The prime minister sought to allay slowdown concerns saying the fundamentals of the economy are strong, with low inflation and a potential to boost exports.
If the states do not chip in with better governance procedures in the setting up of new businesses, providing electricity connections, enforcing contracts, issuing construction permits or registering property, there is little the Centre can do on its own to quickly move India up the index on ease of doing business, says A K Bhattacharya.
There is talk of a fresh approach to a new labour code as well as reforming land acquisition laws in such a way as to be politically.
India on track to be third largest consumer economy by 2025.
The ministry is also holding a road show aimed at projecting investment opportunities in the sector. The visit is significant as the ministry is scouting investment of $70 billion for road construction in the next 3-4 years, out of which about $45 billion is expected to come from the private sector, including $10 billion from foreign investors.
The World Bank agreed to a greater say for member countries in dealing with governance and corruption after India, Britain and others questioned the 'overemphasis' on these matters at the cost of its core development agenda.
The World Bank and India have concluded negotiations for loans worth $3.2 billion for recapitalising state-run banks and funding for the India Infrastructure Finance Company Ltd, a state-run lender to infrastructure projects.
Modi, who turned 67, unveiled the plaque dedicating the dam to the nation.
The ministry is seeking a $2.96-billion World Bank funding for double-laning of 6,300 km of single-lane highways, out of a total of about 19,000 km single-lane highways in the country.
'What Modisaab will accomplish by tampering with the treaty is providing ammunition to ultra-nationalist right wing elements within Pakistan who see India as an existential threat.'
The government has sought loan for converting 6,372-km of 1-lane highways to 2-lane out of the total 19,702 km single lane highways in the country under National Highways Development Project Phase IV.
Most forecasts do not have a track record of transparency and accuracy
India's road sector may require an investment of Rs 87,440 crore (Rs 874.40 billion) by 2012 to achieve high growth rate, a latest study of the World Bank said.
Taking up the case of Indian IT companies and professionals, Jaitley told Ross about the contribution of highly-skilled Indians in the economic development of the United States and India and stressed that they should continue to do so, which is in the best interest of the two countries, officials said.
In its report 'Global Economic Prospects 2010' the World Bank has said: 'Global GDP, which declined by 2.2 per cent in 2009, is expected to grow 2.7 per cent this year and 3.2 per cent in 2011'.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances