The World Bank would provide loans to India at higher than its existing concessional rates but lower than the market rate.
No experts, clearly, were involved in the design of these new tariffs, which have been the subject of bemused wonderment across the world in how completely they ignore logic, rationality, fairness, and economic theory, observes Mihir S Sharma.
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).
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.
India would neither succumb to the Americans on issues of national security, such as its defence ties with Russia, nor cede ground on its domestic interests in the agriculture and dairy sectors.
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.
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.
Gen Z, driven by AI anxiety and economic pragmatism, have concerns about pursuing passions as careers as they fear it may not make them enough sufficient income.
Growth projections for 2013-14 has been arrived at by taking into account present internal and external factors.
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.
World Bank is likely to give Mumbai projects Rs 275 crore less, in wake of the appreciation of rupee against the dollar.
India's economy is estimated to contract by 9.6 per cent in the fiscal year 2020-21, reflecting a sharp drop in household spending and private investment, and the growth is expected to recover to 5.4 per cent in 2021, the World Bank said on Tuesday. In its Global Economic Prospects report, the World Bank said that the informal sector, which accounts for four-fifths of employment, has been subject to severe income losses during the COVID-19 pandemic.
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.
This will be Jim Young Kim's first visit to India after taking over as President of the World Bank Group last July.
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.
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 ultra-rich invest differently -- embracing growth, compounding, and long-term clarity to build wealth with purpose and discipline, explains Ramalingam Kalirajan.
"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.
The race for the top position at the Bank is really heating up.
The downgraded World Bank forecast follows a similar move by the International Monetary Fund, which cut its growth forecasts two months ago
The United States has a moral and national interest in helping poor and struggling countries transform themselves into free and hopeful societies, Bush said.
World Bank President Jim Yong Kim, who is on a three-day visit to India, said a projected five per cent GDP growth in the current financial year was disappointing, but future prospects for the country were good.
The Supreme Court's order to remove stray dogs from Delhi-NCR localities has sparked mixed reactions, with RWAs welcoming the move and animal rights activists raising concerns about implementation and potential harm.
In its latest report, the Bank has lowered its forecasts for developing countries, now eying growth at 4.8 per cent this year, down from its January estimate of 5.3 per cent.
A World Bank study has virtually questioned the methodology of sovereign rating by the international agencies, saying there was evidence that Moody's such rating had low predictive power for currency crises.\n\n\n\n
A feature of this year's BRICS summit was economic cooperation.
In South Asia, the poverty would fall to 13.5 per cent in 2015.
Wipro had denied allegations of providing improper benefits to Bank staff.
The giant statue of Sardar Vallabhai Patel is most impressive and a trip to the viewing gallery on top is the high point of a trip to Kevadia, Gujarat.
'India's letter to Pakistan on April 24 (2025; two days after the Pahalgam terrorist attack) didn't tear up the treaty -- but it did put it on ice.'
Current President Robert Zoellick, who took office in July 2007, is schedule to retire in June.
World Bank on Monday said it would help the bank in moving away from an individual 'ring-fenced' project financing to a broad-based assistance to India.
Robert B Zoellick will succeed Paul Wolfowitz as the 11th president of the International Bank for Reconstruction and Development, or the World Bank, for a five-year term from July 1, 2007.
RBI Governor Shaktikanta Das and Finance Secretary Subhash Chandra Garg are also expected to attend the meetings.
Attacking the industrialised countries for agricultural protectionism, which was hurting the economies of poor nations, the World Bank has stressed that global trade liberalisation was critical for reducing poverty in developing countries.
Kim, 52, will take over at the beginning of July, after the current president, Robert B Zoellick, steps down at the end of his five-year term.
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