If India can fast utilise currency flows for long-term projects, the regulatory regime could be more liberal.
India's reliance on domestic factors for growth and its comfortable foreign exchange reserves would help the nation to insulate itself from the Euro-zone debt crisis, financial services firm, ING said.
The downgraded World Bank forecast follows a similar move by the International Monetary Fund, which cut its growth forecasts two months ago
Favouring a 'new Bretton Woods Agreement', International Monetary Fund chief Dominque Strauss-Kahn has said an early warning system to detect impending dangers to the world economy must be put together by international financial expertise.
The Indian economy is rapidly normalising towards pre-pandemic activity levels, even as uncertainty exists about coronavirus mutations and repeated infection waves, industrialist Kumar Mangalam Birla said on Wednesday. Vaccination is picking up pace, which would improve India's resilience against a potential third wave, the chairman of Aditya Birla Group said while virtually addressing shareholders at the AGM of group firm UltraTech Cement Ltd. Moreover, various steps taken by the RBI and the government have helped in containing the economic disruptions of the pandemic, Birla added.
19 per cent of all travel in India (by bus, train or air) was pilgrimage or religious travel (possibly the single largest after business and family-related travel), discovers Ambi Parameswaran.
In the swap auction conducted on April 23, the Reserve Bank had received bids worth $ 18.65 billion against $ 5 billion on offer.
The suit also said that The Post ran the stories 'in a desperate attempt to bolster' its sales.
Former International Monetary Fund chief Dominique Strauss-Kahn facing sexual assault charges in New York will sue a French writer, who has accused him of attempted rape, for 'slanderous denunciation'.
PMO joint secretary Subrahmanyam to play a key ro#8804 full-time finance minister likely before October
Finance Minister Pranab Mukherjee on Tuesday congratulated French Finance Minister Christine Lagarde on her appointment as the new Managing Director of the International Monetary Fund.
Gordan Brown has advised IMF to set up an early warning system to alert economies of impending financial disasters.
International Monetary Fund (IMF) Managing Director Dominique Strauss-Kahn today commended India's role in managing capital inflows, which have already crossed $50 billion this year--about 4 per cent of the country's Gross Domestic Product (GDP).
International Monetary Fund managing director Dominique Strauss-Kahn on Thursday said he favoured new heads of the World Bank and the Fund to be from countries other than Europe and the United States.
The green signal would pave the way for additional funds to the IMF and reforms related to the country representation at the multilateral lending agency, among others. The IMF would get more funding to tackle the global crisis under an expanded borrowing arrangement. The US has committed to increase its credit line by up to $100 billion.
India's foreign exchange reserves nearly hit a nine-month low and fell by $5 billion to $302 billion for the week ended December 16, on account of revaluation in foreign currency assets.
Takao replaced Haruhiko Kuroda, who had, in March, quit ADB to take charge as Japan's central bank governor.
Mexican bank head seeks support for IMF post.
While United States President Barack Obama is expected to announce trade deals worth $10 billion with India, Chinese President.Hu Jintao has already signed trade deals worth $20 billion with French President Nicholas Sarkozy during his visit to the European nation.France also sought China's help during the upcoming G20 summit that will be held from Seoul from November 13. The two leaders also reportedly discussed reforms in the international monetary system.
Besides French Finance Minister Lagarde, seen as a strong candidate, there are four to five other aspirants in the race for the post vacated by Dominique Strauss-Kahn.
Wickremesinghe is the first Sri Lankan president to be elected by Parliament following a vote.
Ground reality suggests that someone from the developing world does not stand a chance to emerge victorious.
Brazil, Russia, India, China and South Africa came out in the open on Tuesday to oppose the notion that the next Managing Director of the International Monetary Fund (IMF) should be from Europe and argued that such a selection criteria undermines the legitimacy of the fund.
One of the names proposed by the dailies is India's Planning Commission Deputy Chairman, Montek Singh Ahluwalia.
Dominique Strauss-Kahn, the head of the International Monetary Fund, who has been charged with a criminal sex act and is under arrest in the United States, has resigned from his position, leaving the global financial body to hunt for a new chief.
International Monetary Fund chief Dominique Strauss-Kahn, who is facing damaging allegations of sexually assaulting a hotel maid, has been put on suicide watch by prison authorities who fear he may try to kill himself.
Ranil Wickremesinghe was on Wednesday elected as Sri Lanka's new President by Parliament, in a rare move that could provide continuity for ongoing discussions with the International Monetary Fund for a bailout for the cash-strapped nation but a development likely to anger anti-government protesters who have been demanding his resignation from office for weeks.
Strauss-Kahn allegedly sexually assaulted the 32-year-old maid, who happened to be in his $3,000 a night suite at the Hotel Sofitel in Times Square on Saturday afternoon, thinking it was empty.
'The inflow of FII or FDI has not distorted the market sentiments and therefore there is no question of putting any curbs.'
The global financial system needs more regulatory reforms to reduce the possibility of another meltdown, according to experts at International Monetary Fund.
The International Monetary Fund expects global GDP to grow by around 1.5 per cent, but global trade will shrink by perhaps 8 to 10 per cent. India's exports too have suffered the same fate.
The review will now make it mandatory for the world's top 25 financial economies to undergo IMF's surveillance. The check-up was earlier voluntary in nature.
Prime minister bats for common standards to be implemented in all jurisdictions.
The allocations for military have been made while outlays on the development and non-development budgets have been slashed by 50 per cent and 20 per cent respectively to create fiscal space for rehabilitating the flood-affected population.
Elections may be a few months away, but the government may get into election mode much earlier than that, predicts A K Bhattacharya.
"The challenge for many emerging and some developing economies (is) to ensure that present boom-like conditions do not develop into overheating over the coming year," the IMF said in its World economic Outlook report.
Pakistan is not raising revenues to the optimum extent. The tax to the GDP ratio is below 10 per cent.
The race for the top position at the Bank is really heating up.
While there is little doubt that the emerging economies present the best chances for economic growth, not all countries will prosper at the same rate, says the Wealth Report 2012 by Knight Frank & Citi Private Bank.
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