The revised projection comes after a 17% rise in the April-June.
Here's what Indian investors diversifying into equities, ETFs, and real estate abroad to manage risk, returns, and currency exposure must watch out for.
In its global economic forecast update for 2009, the World Bank projected a growth rate of 4 per cent for India during 2009-10, while the ADB, in its outlook, expects the economy to expand by 5 per cent. A separate outlook by the Organisation for Economic Cooperation and Development, a club of developed countries, has forecast a 4.3 per cent growth rate for India. India had last grown below this level in 2002-03, when the economy expanded by 3.8 per cent.
After disclosing late last year its decision banning Satyam Computer Services, the World Bank said earlier this month that Wipro and another Indian IT firm Megasoft have also been debarred from directly doing business with it under its corporate procurement programme. The Bank had disclosed the ban on Satyam on December 25, while debarment of Wipro and Megasoft was revealed on January 11.
The World Bank said on Monday hardening interest rates and a surge in oil prices worldwide will have a marginal impact on India's economy and the country would continue to witness high GDP growth.
India is on track to register its entire 1.25 billion population using its Aadhaar digital ID.
Pulok Chatterjee, secretary in the Prime Minister's Office, has been appointed as executive director in the World Bank
'I wanted to go for the heart, and at the same time, open the audience's mind.'
'...the electoral playing field is tilted significantly in its favour.'
Group winners Flamengo were held 1-1 by Los Angeles FC to finish on seven points, one ahead of Chelsea. Esperance finished third with three points while LA FC were bottom with one point.
India's largest IT services firm Tata Consultancy Services (TCS) on Thursday reported a 1.39 per cent increase in consolidated net profit to Rs 12,075 crore in the July-September quarter of this financial year.
The World Bank has approved a $1.5 billion loan for the ambitious clean India campaign.
The World Bank on Friday approved a $80-million loan for the renovation and modernisation of old, polluting and inefficient coal-fired power plants in India, in a move that could help lower carbon emissions.
Successful demonetisation will help in raising revenues on sustained basis as more and more people will come under the tax net, says a World Bank report.
Chatterji, an IAS officer from the Uttar Pradesh cadre, will take over from Dhanendra Kumar for a term of three years, an official spokesperson said. Kumar, a 1968 batch IAS officer from the Haryana cadre, was to retire on October 31. However, he has been granted an extension till January 31, next year.
This was stated by Union urban development minster Sugata Roy in Rajya Sabha today in response to a written question.
Modi said the ease of doing business ranking improved because the government initiated reforms to end difficulties in the lives of people.
This comes at a time when the global recovery remains fragile and is expected to slow later this year as the impact of the fiscal stimulus measures wanes.
The Bank's projections show that developing countries face a financing shortfall of $270 to $700 billion this year, as private sector creditors shun emerging markets, and only one quarter of the most vulnerable countries have the resources to prevent a rise in poverty.
'An asset must generate income. Equities yield dividends, bonds pay coupons, deposits give interest, and real estate earns rent.' 'Gold, silver, and even Bitcoin produce no income, they merely store value. So, they should not be compared to productive assets.'
Extra time goals see Chelsea down 10-man Benfica to advance to quarters
Meera Shankar, Indian Ambassador to the United States, informed that India has convened a ministerial meeting in September in New Delhi to see how we can bring the Doha Round back on track and as a follow up to that meeting experts were expected to meet in October in Geneva.
Giving an economic content to his visit to the US in the midst of high-profile diplomatic engagements, Prime Minister Manmohan Singh met World Bank President Robert Zoellick and top American CEOs in the backdrop of the financial meltdown that has kept the Bush Administration on its toes.
The World Bank assistance will be utilised for converting 6,372 km of one-lane highways to two-lane, out of the total of 19,702 km of single lane highways in the country.
The Tamil Nadu Irrigated Agriculture Modernisation and Water-Bodies Restoration and Management Project is designed to modernise irrigation systems covering over 600,000 hectares in 63 selected sub-basins throughout the state.
The stock of mid-tier information technology (IT) major Persistent Systems has been one of the outperformers in the IT pack with a return of 5.3 per cent over the last year, while its peer index, the Nifty IT, is down 16.2 per cent over the same period. The strong September quarter (Q2FY26) result and upgrades by brokerages are positive but its ability to sustain growth momentum in a weak macroeconomic environment will be key for future gains. At the current levels, the stock is trading at a premium valuation of 38 times its FY27 earnings estimates.
'Re-electing Jim Yong Kim will allow the World Bank to continue to build on important initiatives and reforms.'
The IFC Global Corporate Governance Forum has signed an agreement with the Reuters Foundation to encourage these journalists and help them report on governance more effectively, the two organisations said.
Bandhan Bank has filed a draft red herring prospectus with Sebi for an IPO of up to 119 million equity shares, with face value of Rs 10 each.
Finance Minister Nirmala Sitharaman on Tuesday asked fintech firms to focus on risk management at a time when criminals are using AI to mimic voices, clone identities and create lifelike videos to manipulate people.
Dr Kali P Choudhury, a visionary entrepreneur immigrated to the United States with almost nothing and built his estate in Hemet before turning his focus to Inglewood.
In its reply to the World Bank's allegations of corruption in five health projects worth a total of $ 568 million, the Indian govt has sent a report denying the charges. The report said World Bank has misunderstood protocols and has not provided evidence to substantiate the charges. The Union Health Ministry has said that the report erroneously created an impression that the health sector delivery system is beset with fraud and corruption. It has also damaged its credibility.
The World Bank is likely to sanction a reform-linked loan of Rs 16,000 crore (Rs 160 billion) to the UP government. The loan, called "UP Development Policy Loan", is in an advanced stage of negotiation and likely to be credited to UP in the current fiscal. The loan will help the state government retire costly old debt, which will reduce the annual interest burden by Rs 700 crore (Rs 7 billion).
With the Japanese government taking a lead in funding the megapolis' many signature infrastructure projects, the World Bank has evinced interest in funding the proposed Charkop-Dahisar and Wadala-Teen Hath Naka Metro projects.
In a statement on Wednesday, World Bank said that its President Robert B Zoellick has announced that he would step down at the end of a five-year term in which a transformed Bank played an historic role during the global economic crisis, using record replenishments to provide more than $247 billion to help developing countries boost growth and overcome poverty.
WCP Mauritius Holding, an investment vehicle promoted by former World Bank president James Wolfensohn, has bought a minority stake in India's ethnic wear company Fabindia for about $11 million, a Financial Times report said.
Sources close to Mohamed Mushin say he regrets the indiscretion of purchasing the shares that he did, and even though it was perfectly legal, it gave the perception of conflict of interest, that his buying them under the Friends and Family IPOs seemed as it was a quid pro quo by the two companies that had secured handsome Bank contracts.
A report prepared by World Bank in coordination with Chinese experts said China has reached a 'turning point' in development but it could still emerge as the world's largest economy before 2030 if it carried structural reforms.
Amid US-China trade tensions and economic vulnerabilities, India must seize the 'China +1' opportunity, deepen reforms, secure FTAs, and globalise its firms for long-term growth, suggests Ajay Shah.
