The Asian Development Bank (ADB) on Wednesday lowered India's growth forecast for FY26 to 6.5 per cent from 6.7 per cent on account of trade uncertainty and higher US tariffs that are expected to impact exports and investment. Despite the downward revision from the April 2025 Asian Development Outlook (ADO), India remains one of the fastest-growing major economies in the world.
Better learning for all students worldwide is vital because economic growth, better development, and significantly less poverty depend on the knowledge and skills that people gain, not the years spent in a classroom, it said while launching its education strategy for the next decade.
The market rally was driven by strong buying in telecom, banking, realty, metal, FMCG and PSU counters.
Megasoft became the third Indian software vendor to have attracted the World Bank's ire, while Nestor Pharmaceuticals and Gap International were non-IT entities.
Mixed views were expressed by top economists on the Reserve Bank of India's (RBI) Monetary Policy Committee's (MPC) decision to hold the repo rate at 5.5% and maintain a neutral stance. While some say the decision was as expected and one more rate reduction is expected this fiscal, there is also a view that rate cut by MPC was warranted given the evolving global situation.
World Bank President Robert Zoellick on Friday called on Prime Minister Manmohan Singh and discussed funding for the changing needs of the country.
Let there be no doubt that Modi in these 24 years so far has reshaped politics and governance considerably, if not completely, asserts Nilanjan Mukhopadhyay, author, Narendra Modi: The Man, The Times.
Indian economy is expected to grow at over 7.5 per cent, to overtake China.
We need to bring cricket and glory back to Chinnaswamy Stadium: Venkatesh Prasad
India is the largest client for the World Bank Group.
The government on Thursday permitted RBI to invest $4.3 billion in special bonds of the World Bank, which would raise the agency's lending limit to India by a similar amount to $21.8 billion for infrastructure investment.
'India is a big market for StanC, and it is also fastest growing economy in the world.'
Ruhl, a Dutch national, was previously the Director for Operations Services and Quality in the South Asia Region of the World Bank, the multi-lateral funding agency said in a statement on Monday.
The expert overruled Pakistan's other technical objections.
World Bank has predicted a downward trend for India's GDP in 2008. China to follow too.
"Oil prices are not going to come down. The era of cheap food is over and prices are likely to remain high for at least the next 10 years," World Bank South Asia Region Vice-President Praful Patel told PTI. He said the current situation has 'caught the whole world by surprise' and the crisis was due to a combination of factors, he said.
Reforms can be the game changer for poor and help economy goes back on growth trajectory.
In its report 'Global Economic Prospects 2010' the World Bank has said: 'Global GDP, which declined by 2.2 per cent in 2009, is expected to grow 2.7 per cent this year and 3.2 per cent in 2011'.
In the 12-month cycle starting July 2013 and ending June 2014, World Bank had made financial commitments close to $5.2 billion in India.
The World Bank would provide loans to India at higher than its existing concessional rates but lower than the market rate.
However, the Indian economy is expected to bounce back in 2021, the World Bank said.
As per the latest government data, India's second quarter economic growth inched up to 4.8 per cent during second quarter (July-September) of 2013-14, well above 4.4 per cent in the first quarter (April-June).
How well will Shubman Gill fit in the T20 team? Is it a gamble by the selectors in order to unite captaincy across formats? asks Harish Kotian.
The bulk loan offered to India is for developing its infrastructure projects and to achieve the millennium development goals. Further, part of the loan would be spent in the seven low-income states -- Bihar, Chhattisgarh, Jharkhand, Madhya Pradesh, Orissa, Rajasthan, and Uttar Pradesh -- to support the poverty reduction programmes.
A World Bank team and experts from the US will visit the floods-affected areas on Saturday to discuss financial assistance and other help to rebuild the infrastructure.
Although risks from advanced economies have eased and growth is firming, despite ongoing contraction in the Euro Area, the pick-up in developing countries will be modest because of capacity constraints in several middle income countries.
The Indian government has introduced a bill in the Lok Sabha to ban online games played with money, aiming to curb addiction, money laundering, and financial fraud. The bill also targets advertisements and financial transactions related to such games.
The Maharashtra government, which is finding difficult to get investors for irrigation projects in the state, has now decided to rope in the International Finance Corporation (IFC), World Bank's lending arm for the private sector.
Growth projections for 2013-14 has been arrived at by taking into account present internal and external factors.
World Bank is likely to give Mumbai projects Rs 275 crore less, in wake of the appreciation of rupee against the dollar.
Subramanian recommended five ways of financing additional expenditure over a period of one year, including cutting expenditure and borrowing directly from the RBI or monetising debt.
Empathising with Indian exporters hit by a rising rupee, the World Bank on Monday said government should look at options beyond tax sops to raise productivity and make the industry globally competitive.
Money to be used for the Rs 174,000-crore Bharat Nirman programme to develop rural infrastructure.
This will be Jim Young Kim's first visit to India after taking over as President of the World Bank Group last July.
India and China will continue to be the focus of the World Bank as these countries represent 70 per cent of the poor in the world, said the Bank president Robert Zoellick. "You've more poor in India than in all of sub-Saharan Africa. So if we're focused on poverty, we have to focus on these countries (India and China)", he told BBC in an interview to be broadcast on Sunday.
The World Bank's move came as it told the two countries that it was responding to their separate proceedings initiated under the Indus Waters Treaty 1960.
"We have sought assistance from World Bank for 37,000 km of roads as we plan to take up work on these projects soon," Road Minister C P Joshi told reporters after a meeting with a World Bank delegation, headed by its South Asia Region Vice President Isabel Guerrero.
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