World Bank on Monday said it expects Indian economy to grow by 8 per cent this fiscal but asked the government to open up more sectors for foreign direct investment, encourage private sector participation and improve infrastructure.
The eight-day long annual meetings of the World Bank and International Monetary Fund, which began in Dubai on Wednesday, would intensively discuss employment creation, private sector development and financial sector reforms.
Lafitte was appointed neutral expert for the contentious 450 mw power project in May by the World Bank after Pakistan said construction of the Baglihar project violated the 1960 Indus Water Treaty.
RBI Governor Shaktikanta Das and Finance Secretary Subhash Chandra Garg are also expected to attend the meetings.
Prime Minister Narendra Modi inaugurates the Navi Mumbai International Airport and a portion of the Mumbai Metro Line, marking significant improvements to transportation infrastructure in Mumbai.
According to the finance minister, India was compliant with most of the internationally accepted standards in banking, securities markets and insurance sector.
The UK government on Sunday announced that it will support "iconic British brand" Jaguar Land Rover (JLR) with a loan guarantee of up to 1.5 billion pounds to give certainty to the Tata Motors owned carmaker's supply chain following a devastating cyber-attack. The loan will come from a commercial bank, backed by the Department for Business and Trade's (DBT) Export Development Guarantee (EDG), provided by export credit agency UK Export Finance, to be paid back over five years.
Observing that economy was "going well" in India, which has large internal markets, the World Bank said on Thursday that growth had to be labour oriented, even as it expressed concern over the mounting fiscal deficit.
While edging up China's gross domestic product growth projection for both 2010 and 2011, the report said that growth in domestic demand would remain strong although exports could suffer from a predicted global economic slowdown next year.
Indian information-technology (IT) service providers are likely to report another quarter (July-September) of low, single-digit growth owing to macro uncertainties, chiefly emanating from America, with no respite in sight even in the second half of the year.
The World Bank said on Monday that it would "more or less" stick to its forecast of 6.5 per cent growth rate for Indian economy despite the damage suffered by the country in the tsunami tragedy.
His remarks came in response to several European nations announcing their decision to recognise a Palestinian state during a summit at the UNGA on Monday. While the move was largely symbolic, it added to Israel's diplomatic isolation. Washington, however, has made clear it does not support the step.
'What we need to watch is how Saudi Arabia's financial assistance will be used by Pakistan. If the funds go to build their military hardware and operations, it should worry us.'
Congress leader Sonia Gandhi criticizes the Modi government's stance on Palestine, calling it a 'profound silence' and an abdication of humanity and morality. She argues that India needs to demonstrate leadership on the issue and that the government's actions are driven by personal friendship rather than constitutional values or strategic interests.
World Bank will provide another $220 million loan to Andhra Pradesh to expedite the reforms process even as it was considering sanctioning such loans to Tamil Nadu and Orissa as well.
Women's World Cup winner Divya Deshmukh, who has also qualified for the Women's Candidates, has opted out of the women's section to compete with the best in business.
The additional finance will also help the government focus on improving the quality of water supply.
The government and World Bank on Tuesday signed an agreement for a credit of 180 million SDR ($250 million equivalent) from International Development Agency for the Technical Engineering Education Quality Improvement Project.
The government is in talks with the World Bank for technical and financial assistance for overall e-governance projects in the country.
In line with its decision to maintain borrowing within its "load bearing" capacity, Karnataka has decided against going in for more loans from the World Bank and other agencies, Chief Minister S M Krishna said on Wednesday.
The World Bank has approved a $120 million loan to support the development of India's small and medium enterprises sector.
World Bank is optimistic that the Indian economy can grow by 6-8 per cent in the coming years but has asked the government to improve social services like education and health.
The World Bank and IMF have announced that they will try to complete reforms in the Bank's voting structure by next year, a move which would give emerging economies like China and India a greater say in the affairs of the financial institutions.
Former World Bank Chief Economist Kaushik Basu on Thursday said the US economic policy towards India has taken an unfortunate turn, noting that President Donald Trump's harsh stance against New Delhi appears baffling. US President Donald Trump on Wednesday announced a 25 per cent tariff on Indian goods from August 1, amid signs of a stalemate in the ongoing bilateral trade negotiations between the two countries.
Investors believe Indian is a tough place to do business with.
As a protege of Shinzo Abe, Takaichi is expected to scale bilateral ties much higher. Trade and investment shall grow. People-to-people contacts shall be scaled up, points out Dr Rajaram Panda.
India's Railways has struggled to expand to keep up with demand
Indian origin Hindus living in Europe and US are mulling opening overseas chapters of Prayagraj-based 'Ram Naam Bank' in their countries. On the occasion of Ram Navami on Sunday, the idea of opening a Ram Naam Bank was discussed among the devotees in Sweden.
The BCCI invited bids for the Indian cricket team's title sponsorship rights after fantasy sports giants Dream11's pullout.
For nearly two decades, Nitish Kumar has cultivated women as a distinct constituency. 'To create a broader vote base, he thought it would be better to bring women to electoral politics.'
Pakistan will get a whopping $6.2 billion aid from the World Bank in the next three years to come out of the current economic crisis, reduce poverty and improve the fragile security situation in the country.
Amid criticism over engaging experts from multilateral agencies like World Bank, Planning Commission on Wednesday asserted that none of the "outside bodies"
The revised projection comes after a 17% rise in the April-June.
Praggnanandhaa takes on a strong field at Grand Swiss, eyes Candidates berth
Entities controlled by governments - sovereign wealth funds, and pension funds - have recorded higher growth in equity assets under custody compared to other foreign portfolio investors (FPIs) over the past five years.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances