ADB pegs India's GDP growth at 7.8 per cent in FY 2015-16
An official announcement to this effect would be made next week. The vice-chairman would be of Cabinet rank.
There are various projections about India's growth.
The combined market-cap of all listed Adani group firms has plunged nearly Rs 7.11 trillion since January 24 when the Hindenburg report was made public.
IFC will act as a transaction advisor for the projects to be developed in the public-private partnership mode.
Manila-based Asian Development Bank (ADB) has upgraded India's economic growth forecast to 6.3 per cent in 2015-16 on hopes of speedy reform process.
Pakistan has improved its full compliance on only two of the 40 FATF recommendations, the APG report noted.
The Paris-based global watchdog for curbing terror financing and money laundering will hold its virtual plenary session from October 21 to 23. It will review Pakistan's progress on the 27-point action plan.
The announcement of the formation of the BRICS bank will have as much an impact about how the non-G7 countries manage their economies and their foreign reserves, as it does on the intellectual discourse. The development priorities and agenda which was hitherto set by western experts responding mostly to western priorities and notions will now have to compete with an intellectual tradition that is and can be very different, says Mohan Guruswamy.
Equity indices overcame a wobbly start to clock gains for the third session on the trot on Tuesday, propped up by banking, metal and energy stocks amid a mixed trend in global markets. A recovery in the rupee also bolstered sentiment, traders said. The 30-share BSE Sensex advanced 246.47 points or 0.45 per cent to settle at 54,767.62 after starting the trade on a weak note. In a volatile session, the benchmark hit a high of 54,817.52 and a low of 54,232.82 during the day.
The global agency said there are "serious deficiencies" on the part of the country in checking terror-financing and it lacks an effective system to deal with it.
Hectic preparations are on at the newly-formed Niti Aayog to welcome the first Vice-Chairman Arvind Panagariya and other members whose appointments were approved by Prime Minister Narendra Modi on Monday.
Hippocampus Learning Centres bridges urban-rural gap through affordable, quality pre-schooling for kids.
The FATF warned Pakistan that if it doesn't complete a full action plan by June, it could lead to consequences on its businesses
The rapid growth of India and China will overshadow the development of their Asian neighbours in coming years, with the purchasing power of their populations increasing to almost match consumers in the US and EU combined, a senior Doha Bank official has said.
Climate and sustainable development financing, multilateral institution reforms, regulation of digital assets, the spillover effect on developing economies from actions of western central banks, energy and food security in the backdrop of war in Europe, and sanctions on Russia and their impact on the global economy are some of the agenda items that India will take up as President of G-20, Finance Minister Nirmala Sitharaman said on Tuesday. India will take over as President of the powerful international grouping on December 1 for a year. There will be around 200 meetings throughout the country, with the summit Heads of State meeting expected to be held in New Delhi next September.
However, the Indian economy is expected to bounce back in 2021, the World Bank said.
The 50-share NSE Nifty settled lower by 76.05 points, or 0.88 per cent, at 8,615.25
India's per capita GDP of $5,238 in 2013 was 65 per cent lower than Iran, 54 per cent lower than Maldives, 44 per cent lower than Sri Lanka and 27 per cent lower than Bhutan, according to the Human Development Report 2015
ADB was urged to take up the Railways sector.
Market cap of government companies has remained unchanged in the past 8 years.
Due to major policy reforms announced recently by the government, India is poised for good growth.
As the euphoria around US President Barack Obama's visit ebbs, the fine print of the investment announcements reveal a financial boost for American solar energy companies to increase their exports to India.
"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.
India also fares poorly on maternal mortality rate.
Equity benchmark Sensex pared its early losses to close higher by 231 points on Monday, helped by buying in index heavyweight Reliance Industries and ICICI Bank amid positive global trends. After falling 537.11 points to a low of 56,825.09 in morning trade, the 30-share BSE barometer staged a recovery in afternoon trade and climbed 231.29 points or 0.40 per cent to settle at 57,593.49. As many as 20 Sensex stocks closed with gains while 10 declined. The broader NSE Nifty recovered 69 points or 0.40 per cent to settle at 17,222 with 29 of its constituents ending in green.
The slowdown in global remittance flows that became evident in the last quarter of 2008 has continued in the first half of 2009. However, South Asian countries like India, Pakistan and Bangladesh have continued to post strong growth till now because of remittances from the Gulf region.
The World Bank, the United Nations and private sector partners recently launched a competitive development marketplace aimed at identifying and funding innovative approaches to reduce stigma and discrimination associated with HIV and AIDS in India and other South Asian countries. The initiative, called 'Tackling HIV and AIDS Stigma and Discrimination: From Insights to Action,' targets communities across India and the rest of the subcontinent.
Fitch Ratings director Thomas Rookmaaker said India's debt-to-GDP ratio is likely to rise to 76 per cent from 70 per cent currently due to wider fiscal deficit and low economic growth.
The appointment of new expenditure secretary comes a month-and-a-half ahead of the Budget for 2020-21 to be presented on February 1.
'India's economy faces further downside risks from sluggish private investment and rural demand weakened by slow wage growth.'
Only traces of rainfall were recorded in a few areas of the national capital on Thursday which continued to experience sultry weather.
India, along with other South Asian countries, is expected to sustain a growth of 6-6.3 per cent in the next two years, although global economic growth is slated to decline to 3.2 per cent, the World Bank said on Wednesday.
Broader markets underperformed indices with BSE Midcap down 0.43% while the Smallcap index fell 0.07%.
The 30-share BSE Sensex surged by 477.24 points or 0.83 per cent to close at more than one-week high of 57,897.48. As many as 28 of its constituents closed with gains while two declined. The broad-based Nifty of the National Stock Exchange rose by 147.20 points or 0.86 per cent to settle 17,233.45, tracking gains in Sun Pharma, Asian Paints, and Reliance Industries.
'Significantly, Foreign Secretary Gokhale was received at very high level in Beijing.' 'It only shows China's keenness to move forward and put the relationship on a 'win-win' footing,' says Ambassador M K Bhadrakumar.
India's GDP is poised to accelerate to 5.5 per cent in 2014-15 on the back of improved performance in industry and services but it may take some time for the country to reach its potential growth rate, says an Asian Development Bank (ADB) report.
Dealers attributed the fall in the rupee on Tuesday to dollar's gains against other currencies overseas, but a higher opening in the domestic equity market capped the fall.
After 2014, our growth has been average of around 5%. If this continues, we will remain here like Egypt, Brazil, South Africa and Bangladesh, points out Aakar Patel.
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