Congress President and Leader of the Opposition in Rajya Sabha Mallikarjun Kharge on Wednesday questioned Union Finance Minister Nirmala Sitharaman over the Union Budget and claimed that the plates of all states except Bihar and Andhra Pradesh were empty in the budget allocation.
The Indian National Developmental Inclusive Alliance (INDIA) parties, led by the Congress, staged a walkout from both Houses of Parliament on Wednesday, in protest against all states except two being 'ignored' in the budget, an allegation termed 'outrageous' by Finance Minister Nirmala Sitharamanm, who said all the states never found a mention in any of the previous budgets, including those presented by the Congress.
Asian Development Bank will double its annual assistance to over $2 billion and is expected to lend India $7.3 billion in the next three years.
India and Pakistan may require more than two pipeline schemes for importing gas from countries like Iran, Turkmenistan
Asian Development Bank on Monday said India needs to increase investment rate and improve productivity on a massive scale if its economy was to expand beyond 7-8 per cent.
Three years after India declared its goal to become a net-zero economy by 2070, the policy design for achieving the target has begun, with the NITI Aayog forming dedicated multi-sectoral committees to prepare a transition plan. In 2021, India joined a select group of nations that set a target year for becoming net-zero carbon economy. At COP26 in Glasgow, Prime Minister Narendra Modi outlined a five-pronged 'Panchamitra' climate action target for India and committed to a net-zero target by 2070, joining nations like the US, the UK, and China.
The Asian Development Bank said on Wednesday India, despite making significant improvement in access to primary education, will not meet the millennium development goal targets as in the case of other countries in the Asia Pacific region.
A study, commissioned by ADB and titled 'Policy Changes for Asia after the Global Recession: Impact of the Global Economy and Policy Implications', found Asian economies are poised for accelerated growth as the global economic crisis recedes.
Optimistic on India sustaining 7 to 8 per cent growth, Asian Development Bank on Wednesday said it might scale up assistance to $3 billion annually and is ready for another Rupee bond issue for funding private sector.
Attributing to three studies on agriculture, energy and migration, the ADB said on Wednesday the impacts of rising temperatures in Asia would fall disproportionately on the region's poor, and rural women from developing countries would be among the most affected groups.
Asian Development Bank on Monday warned that job reservation in private sector could lead to swift flight of skilled labour from India.
Structural reforms, pro-people programmes and employment opportunities helped the economy get new vigour, the finance minister said. After contracting by 5.8 per cent in 2020-21, the economy recorded a growth of 9.1 per cent in 2021-22.
The Asian Development Bank has approved a $400 million loan to build roads in Madhya Pradesh and Chhattisgarh, the bank said in a statement in Manila on Monday.
Jammu and Kashmir will receive 'liberal financial support' for modernisation projects from the Asian Development Bank, the government said on Thursday.
The Union government has engaged the Asian Development Bank to provide technical assistance in implementing the new pension scheme for the unorganised sector.
Lauding India's economic reform process, the Asian Development Bank expected the country's economy to grow by 7-8 per cent in the medium term and said it would step up its loan exposure to $2 billion annually.
Indians are conservative, curious and women here are expected to dress modestly to avoid sexual harassment. This is the advice given out by the Asian Development Bank to all its delegates visiting India for the annual meeting beginning in Greater Noida on Thursday.
The Asian Development Bank on Monday projected that Indian economy was poised to grow by 6 per cent this year, marginally better than South Asia's growth of 5.7 per cent.
Assistance would be given to Small Industries Development Bank of India and its partner micro finance institutions to review and revise their gender policies and practices.
The Asian Development Bank on Thursday revised upwards its growth projection of Indian economy to 6.7 per cent in 2003, but cautioned that GDP was expected to grow by 6.3-6.4 per cent next year.
The Asian Development Bank is all set to tap the Indian capital market with its maiden bonds issue amounting to over Rs 455 crore (Rs 4.55 billion) and said its loan sanction to the country would go up to $1.7 billion next year.
With a total assistance of $122.21 million, India stood second to China in cornering loans from Asian Development Bank in the first quarter of this calendar year.
The Chinese yuan has the potential to be an alternative to the US dollar and help create a multi-currency global reserve system, says an Asian Development Bank report.
Asian Development Bank has predicted that South Asian economy, 80 per cent of which is accounted for by India, will grow at a slower pace of 7.7 per cent in 2007.
The rural co-operative credit sector in the country is set to get a boost with $1 billion loan from the Asian Development Bank to the centre.
Multilateral lending agency Asian Development Bank has revised upwards India's growth projection to 6 per cent for the current fiscal on account of rising business confidence but warned that inflationary pressure would continue.
Asian Development Bank has said that India's fiscal deficit targets are unlikely to be met this year due to large government spending and slow pace of domestic fuel price adjustment.
Deloitte India on Friday said it estimates India's GDP growth at 6.6 per cent in the current fiscal helped by consumption expenditure, exports rebound and capital flows. In its India's economic outlook report, Deloitte said the rapid growth of the middle-income class has led to rising purchasing power and even created demand for premium luxury products and services. With the expectation that the number of middle-to-high-income segments will be one in two households by 2030/31, up from one in four currently, we believe this trend will likely become further amplified, driving overall private consumer expenditure growth, it said.
It forecasts better growth on the back of stronger external demands and progress on reforms.
ADB's calculations imply almost half of India's population (47.7 per cent) was below the line in 2010. Both these estimates are based on the year 2005's purchasing power parity rates.
The Reserve Bank of India on Friday raised the GDP growth projection for the current fiscal to 7 per cent from 6.5 per cent earlier on buoyant domestic demand and higher capacity utilisation in the manufacturing sector. Announcing the bi-monthly monetary policy, RBI Governor Shaktikanta Das, however, flagged protracted geopolitical turmoil and global economic fragmentation as risks to the growth outlook. The RBI kept interest rates unchanged at 6.5 per cent in Friday's monetary policy statement.
Need to lower fiscal deficit and get GST implemented rolling.
ADB would clear the amount by September 2005 and loans would be sanctioned by March 2006.
India will receive $9.2 billion Asian Development Bank loan during 2008-10 for 31 projects in sectors like energy, transport and financial services, Finance Minister P Chidambaram said on Wednesday.
In its global economic forecast update for 2009, the World Bank projected a growth rate of 4 per cent for India during 2009-10, while the ADB, in its outlook, expects the economy to expand by 5 per cent. A separate outlook by the Organisation for Economic Cooperation and Development, a club of developed countries, has forecast a 4.3 per cent growth rate for India. India had last grown below this level in 2002-03, when the economy expanded by 3.8 per cent.
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