World Bank and its private lending arm International Finance Corporation are planning to float rupee-denominated bonds worth $100 million each when market conditions are 'favourable.'
In a time of tight credit, the facility will support grants to bank and non-bank institutions for activities to increase access to financial services, such as savings, credit, payments and insurance, in rural areas in developing countries as profitable business lines, the World Bank said.
The World Bank has suggested that cess on petrol and diesel be doubled to Rs 3 per litre to partly generate Rs 100,000 crore (Rs 1,000 billion) needed by 2011 for constructing roads and highways in the country.
By today's standards, when the cynicism about the corrupt system is rampant, New Delhi Times seems mild. But it was upsetting enough to have problems with film distributors. Even television refused to run it. Deepa Gahlot re-introduces you to this 1986 classic.
Warning that India's farm subsidy had mounted to 5.6 per cent of agriculture GDP, the World Bank on Wednesday said the country should instead be investing more in rural education, social and infrastructure development.
Former US Trade Representative and US Deputy Secretary of State, Robert B Zoellick (53), is said to be the frontrunner for the post of the next World Bank president, according to a report in the Financial Times.
'This is not just about Modi saying it, every Indian should say this -- if we want India to become the third-largest economy, every political party and every leader, keeping aside their hesitations, must work in the nation's interest and awaken the spirit of Swadeshi among the people'
Buoyed by an increase in public investment and incentives to boost manufacturing, India's economy is expected to grow by 8.3 per cent in the fiscal year 2021-22, less than the previous projection early this year before the country was hit by the second wave of the COVID-19 pandemic, the World Bank has said in its latest report. World Bank chief economist for the South Asia Region Hans Timmer told PTI here that when one looks at the high frequency data, they see that as a result of the second wave of the COVID-19 pandemic, the recovery paused, and some indicate that the recovery actually declined briefly. "We project for this fiscal year 8.3 per cent (growth rate for Indian economy) that is less than we projected early in the year before the health crisis caused by the second wave. "Given the sharp contraction of the economy last year, it might not look like a lot, but in my view, that is actually very positive news, given the violent second wave and the severity of the health crisis," he said on Thursday.
'They wanted the city to be a great business hub. They didn't like the fact that taxes collected in Bombay would go outside the city.'
World Bank is likely to double loan sanctions to India to about $3 billion annually for the next four years, as part of its Country Assistance Strategy to be announced in New Delhi on Friday.
Trump's new rules for how countries should treat him have led to the current breakdown in India-US relations, explains Ambassador T P Sreenivasan.
On average, Indian women are having fewer children than needed to maintain the population size from one generation to the next, without migration.
Under Aadhar, more than 1 billion people have their online identity.
Another official said that India is planning to enhance its current hydropower capacity of around 3000 megawatts on the rivers that were earlier being used by Pakistan and a feasibility study in this regard is planned, the official said
"India did a self-assessment (by the Committee on Financial Sector Assessment, or CFSA) of its financial sector in 2009. This has given us the confidence to get our financial sector evaluated by international financial institutions like IMF and the World Bank. We have voluntarily sought a full-fledged Financial Sector Assessment Programme," Finance Minister Pranab Mukherjee said at the second International Finance Conference at the Indian Institute of Management, Calcutta.
Reaffirming India's stand against terrorism, Prime Minister Narendra Modi has urged leaders of the G7 to galvanise global action against terrorism and underscored the need for strict action against those who 'promote and support' it.
The deal fell through over unresolved disagreements over contentious issues, mainly on agriculture and automotive sector tariffs.
India has suspended the Indus Waters Treaty with immediate effect, accusing Pakistan of breaching the pact by refusing to negotiate modifications and engaging in sustained cross-border terrorism. The decision follows a recent terror attack in Jammu and Kashmir that killed 26 people. Pakistan has rejected India's move, calling it an "act of war."
Numerous players and coaches, including England captain Harry Kane, have voiced concern over player welfare with the revamped Club World Cup meaning less time off between seasons.
The Pakistani delegation, in its meetings with World Bank officials, insisted on early appointment of the judges and setting up the court.
The International Monetary Fund and World Bank heads want their shareholders' consensus before working to rebuild Iraq, but some countries worry the United States is trying to use the multilateral lenders to cut out the United Nations.
A World Bank reports says the country has shown signs of "some softening" that could slow down the pace of growth slightly in 2011.
The foreign degree no longer sells itself, families are doing the math, and for many, the numbers just don't add up.
Appreciating India's initiatives in containing spread of AIDS, vice president and corporate secretary of the World Bank Ngozi Okonjo-Iweala said the World Bank is working closely with New Delhi to further improve the health scenario in the country.
The World Bank has agreed to provide give a $900 million financial aid to Pakistan which is facing devastating flood that has affected 14 million people.
The Washington-based multilateral lender had extended only $2.2 billion loan to the country for the year ended June 2009.
Glimpses from around the world that will make you smile and cry.
France football great Marcel Desailly does not feel that visa issues relating to entering the United States will have any impact on the 2026 FIFA World Cup.
Pharma firm Ambalal Sarabhai Enterprises Ltd, Mumbai-based Chemito Technologies, New Delhi-based Global Spin Weave Ltd and its director Sudhir Agrawal, have been banned from participating in any World Bank-financed or executed projects.
World Bank President Paul Wolfowitz, says a Financial Times report, had ordered the Bank's HR chief to give Shaha Riza, a lady official of the bank with whom Wolfowitz was romantically linked, a huge pay hike and promotion.
Braulio Ferreira de Souza Dias, the executive secretary, Convention on Biological Diversity, stressed that poverty eradication has a lot to do with the agenda on biodiversity which needs to be understood by all.
'For 40 years, India valued only technical skills. IITs, coding -- that became everything.' 'Soft skills were sidelined. But those are the skills that will keep you employable now, not technical skills.'
The World Bank has approved a $348 million loan to help improve the quality, capacity and safety of the road network in Tamil Nadu.
According to the report, the magnitude of internal migration is about two-and-a-half times that of international migration.
India's economy is expected to grow 6.4-6.7 per cent during the current financial year driven by strong domestic demand, even as geopolitical uncertainty poses downside risks, the newly appointed CII president Rajiv Memani said on Thursday.
Notwithstanding US reservations over the Iran-Pakistan-India gas pipeline, the World Bank has described it as a win-win deal and expressed readiness to fund the $7 billion project.
The ministry is also holding a road show aimed at projecting investment opportunities in the sector. The visit is significant as the ministry is scouting investment of $70 billion for road construction in the next 3-4 years, out of which about $45 billion is expected to come from the private sector, including $10 billion from foreign investors.
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