The AEM has upgraded the regions 2010 growth forecast for the 14 emerging East Asian economies to an aggregate 8.1 per cent from the 7.7 per cent it had projected in April.
Challenge before Indian policy makers was to make growth inclusive and manage infrastructure investments better.
Pakistan was put in the inglorious list in 2018 for its failure to check risk of money laundering, leading to corruption and terror financing.
India's forex reserves declined $5.24 billion to $617.23 billion for the week ending February 9, according to weekly data released by the Reserve Bank of India (RBI) on Friday. The forex kitty stood at $622.5 billion for the week ended February 2. However, in the current fiscal, the forex reserves have increased $50.28 billion, the RBI data showed.
The project will be in three stages and sources indicate that the funding will be for the first stage of 107 kilometre from Sarai Kale Khan to SNB Urban Complex.
Equity benchmark Sensex tumbled 674 points on Friday, weighed by losses in banking stocks as an unabated spike in new coronavirus cases fuelled uncertainty over the economic impact of the pandemic. After hitting a low of 27,500.79 during the day, the 30-share BSE barometer ended 674.36 points or 2.39 per cent lower at 27,590.95. The NSE Nifty shed 170 points, or 2.06 per cent, to finish at 8,083.80.
UltraTech Cement was the top loser in the Sensex pack, shedding around 3 per cent, followed by M&M, HDFC Bank, IndusInd Bank, Axis Bank and Reliance Industries. NSE Nifty fell 50.80 points or 0.38 per cent to 13,478.30.
While the economy seems to be on a firm growth path, the fight against inflation is not over yet. Shaktikanta Das seems to be in no hurry. After playing well through a five-year Test match, he doesn't want to get out hit wicket, observes Tamal Bandyopadhyay.
The Manila-based development finance institution has decided not to guarantee loans directed to Andhra Pradesh, where the microfinance activity has fallen sharply due to strict rules introduced by the state government in October last year.
Easy global liquidity and investors' eagerness to tap one of the world's few fast-growing regions should create a sweet spot for the region to fill the $600 billion in infrastructure needs the Asian Development Bank identifies over the next decade.
When Kamath took over the organisation, ICICI had 33 subsidiaries. He gradually brought them down to 24 and then to a dozen, preparing the organisation for an initial public offer in December 2005.
S&P Global Ratings on Monday cut India's economic growth forecast for current fiscal year to 7 per cent, but said the domestic demand-led economy will be less impacted by the global slowdown. S&P had in September projected the Indian economy to grow 7.3 per cent in 2022-23 and 6.5 per cent in next fiscal year (2023-24). "The global slowdown will have less impact on domestic demand-led economies such as India... India's output will expand 7 per cent in fiscal year 2022-2023 and 6 per cent in next fiscal year," S&P Global Ratings Asia-Pacific chief economist Louis Kuijs said.
After swinging nearly 330 points, BSE Sensex finished 172.69 points or 0.43 per cent higher at 40,412.57. Similarly, the 50-scrip NSE Nifty appreciated 53.35 points or 0.45 per cent to close at 11,910.15.
India's economy continues to be robust, but downside risks such as rising crude oil prices, adverse weather conditions, and the global banking crisis outweigh the upside potential in gross domestic product (GDP) growth in the current financial year (FY24), the finance ministry said on Tuesday in its Monthly Economic Review for March. "We reiterate that downside risks to our official forecast of 6.5 per cent for real GDP growth in FY24 dominate upside risks," the review said. "Opec's surprise production cut has seen oil prices rise in April, off their lows of low-seventies per barrel in March.
The Asian Development Bank (ADB), on Wednesday said it has approved $17.51 billion in financing operations last year to assist its developing member countries achieve their Millennium Development Goals.
'If you look at where inflation (headline and core) is today in India and where the rates are, there's clearly room to cut rates.'
Pakistan wanted to be constitutionally communal, India wanted to be secular but is communalising itself. All three nations share a penal code, but they have amended their laws to enable the State to specifically target minorities, points out Aakar Patel.
Takao replaced Haruhiko Kuroda, who had, in March, quit ADB to take charge as Japan's central bank governor.
The Manila-based multilateral lender had extended $2.4-billion loan to India across sectors like transport, energy, commerce, industry, trade and finance in 2012. India is the biggest borrower of ADB.
Asian Development Bank has asked Dhaka to send a formal request by Sunday.
European Investment Bank has expressed interest in financing solar park projects in India, the Asian Development Bank senior investment specialist Don Purka said on Thursday.
The report, however, warned of challenges arising from large capital inflows.
The report, titled Women and Labour Markets in Asia: Rebalancing for Gender Equality, noted that although Asia's economic growth of 6.2 per cent in 2000-2007 exceeded the
Offering "huge scope" for foreign investments, Finance Minister Pranab Mukherjee on Friday said India needs about $1 trillion in next five years for infrastructure development, half of which has to come from the private sector.
As the export-driven growth model is fraught with extreme risks caused due to a multiplicity of factors, a revisit to Swadeshi economics is inevitable, says M R Venkatesh.
Funds will invest in new technology companies involved with climate change mitigation.
The Asian Development Bank has given a loan of $313.6 million to the Indian Railways for strengthening its golden quadrilateral project, an official release said on Wednesday.
With almost $ 1.815 billion out of the fund's bucket for the bridge, the fate of Bangladesh's most important bridge has now become uncertain.
The Adani group, buoyed by a sharp recovery in its share prices over the past year, is set to embark on a series of roadshows this week to raise up to $4 billion (approximately Rs 33,254 crore) through equity and refinancing of older debt, according to banking sources. The roadshows, scheduled to take place in major cities, will inform investors about the group's investment plans across renewable energy, petrochemicals, and infrastructure development.
While the world's largest and the most populous continent has more than doubled its share in the global gross domestic product from 15 per cent in 1950 to 35 per cent currently, billions of its people do not get even basic amenities of life, the Philippines-based institutions president Haruhiko Kuroda said.
Noted economist Arvind Panagariya says India is an emerging power. With liberalisation, Indian entrepreneurs have emerged and they are top class.
Shaping strategies to suit different oppositions and venues will be key for every team during the World Cup and New Zealand have an Indian, who is familiar with conditions and owns the data to assist them -- Saurabh Walkar, their performance analyst.
The estimate was presented in the Damage and Needs Assessment (DNA), a survey conducted nationwide by ADB and the World Bank to assess the extent of the flood damage.
The growth in the current fiscal is likely to slip to a decade-low of 5.7 per cent.
The global financial crisis slashed the value of financial assets worldwide by a massive $50 trillion last year, with developing Asia suffering more than other emerging market regions.
A feature of this year's BRICS summit was economic cooperation.
Is Chandrababu Naidu being in jail an opportunity? How will the TDP capitalise on it? Or will it implode with nothing more than a sigh?
The demographics favour India, as it is a relatively young country with more working people than anywhere else
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