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.
According to the report, the magnitude of internal migration is about two-and-a-half times that of international migration.
Paul Romer, a New York University professor and economist
The annual conference of the World Bank and International Monetary Fund where India was represented by Finance Minister P Chidambaram
A record-extending 52nd ODI century by Virat Kohli and a rapid 57 from Rohit Sharma paved the way for India's victory in the series-opener in Ranchi.
The World Bank on Monday said hardening interest rates and a surge in oil prices worldwide will have only a marginal impact on India's economy and the country would continue to witness high GDP growth.
Concerned over terror funding, the World Bank and the IMF have launched an intense programme using a comprehensive methodology involving 75 client countries to identify the means of formal and information remittances used for money laundering.
Figures of people living below the poverty line in India was being fudged by international agencies like the World Bank to paint a grim picture of the Indian economy, Planning Commission Member N K Singh said on Monday.
The opening ceremony was held in China's financial capital.
After a disappointing loss in the first ODI, the Indian women's cricket team aims for a stronger batting performance in the second match against Australia to keep the series alive. Australia leads the three-match series after winning the first match by six wickets.
The World Bank on Friday indicated that it will double its lending to India to $2.5-3.0 billion annually within 2-3 years, and said it plans to raise $100 million from the domestic market through bonds.
'In India, there is this first generation migrant, say from a small village in UP. He didn't go to the Gulf to buy a big house but make the life of his family better.' 'He may have paid 1 lakh rupees to an agent to go to the Gulf. Imagine what will happen to him and his family if he has to come back. He and his family will become poor again.' 'He went to the Gulf to come out of poverty, but this war will make his family trapped in poverty once again.'
"GDP growth in India eased to a still strong 8.7 per cent in 2007, from 9.7 per cent in 2006, and is projected to slow further to 7 per cent in 2008," said the World Bank report on Global Development Finance released on Tuesday. World Bank attributed the moderation in GDP to 'monetary tightening in 2007 (that) led to softening in domestic demand'.
At a seminar on 'Corporate Governance: Trends in India', the World Bank Country Director, Michael Carter said that despite putting in place a series of legal and regulatory reforms, implementation was an area of concern.\n\n\n\n
South Asia has the highest gender inequality in the world, says Kalpana Kochhar.
New cars, new engines, change in qualifying, one rookie are among the many updates from the 2026 F1 season.
Billionaire David Blitzer, co-founder of Harris Blitzer Sports & Entertainment, is conducting due diligence on Royal Challengers Bengaluru and Rajasthan Royals.
The World Bank on Tuesday favoured opening up of the retail sector to foreign direct investment for speedy integration of India with the global economy.
IndiaCo, a Pune-based equity investment firm, on Wednesday, said that it has received approval for $800,000 programme from the World Bank to improve its incubation and innovation centre and support upcoming companies in India and abroad.\n\n\n\n
Analysts predict continued volatility in Indian equity markets due to domestic macroeconomic data, F&O expiry, global developments including US tariff policies, and geopolitical tensions.
The pause gives the US time to breathe, to regroup, to move its expeditionary force into position without risk of interception along the way. It gives Iran nothing -- on the ground, attacks against its infrastructure continue apace. Prem Panicker in his must read daily blog on the Gulf War.
India retains the tag of the fastest growing country among the world's major emerging economies
'For those in for the long haul, this is a God-given opportunity.' 'Your market is falling despite strong fundamentals, and such a clear roadmap has been announced.'
The World Bank on Tuesday said that India could achieve eight per cent economic growth, provided the government stepped up reforms, including measures to contain fiscal deficit and wasteful subsidies.
When it comes to issue of women's jobs, there is quite a bit of anomaly in India.
The World Bank on Wednesday cut India's economic growth projection to 6% for the current fiscal from 6.9% estimated earlier and blamed the slow down on corruption scandals and a host of policy issues including uncertainty in tax policies.
Addressing an event after launching the service, Shah said the rival ride-hailing platforms have reduced commission and are offering many other incentives, including free rides to customers, seeing the success of Bharat Taxi during the pilot operation.
India and Pakistan clash in a highly anticipated T20 World Cup match. India needs middle-order stability and a fit Abhishek Sharma, while Pakistan's spin attack poses a threat. The weather forecast predicts a high chance of rain.
The World Bank report said Brand Northeast would build on elements such as healthy living, environmental sustainability, social responsibility, service orientation, among others.
Optimistic of India sustaining 8.0 per cent GDP growth, World Bank on Friday indicated that it will step up assistance to the country next fiscal from close to $2.0 billion this fiscal.
A slowdown in India's growth rate, the bank said, has also affected the growth rate of South Asia. As a result, South Asia has fallen to second place after East Asia and the Pacific.
The World Bank has praised India for its rapid economic growth but was critical of the country's labour laws, caste system, gender inequality and imperfections in capital market that were widening inequality.
During that period, the World Bank Group's private sector arm, IFC, committed $1.2 billion in India.
