There is lack of scientific basis in computing the poverty line, says govt.
'What we need to watch is how Saudi Arabia's financial assistance will be used by Pakistan. If the funds go to build their military hardware and operations, it should worry us.'
The World Bank and The International Monetary Fund concluded their annual spring meeting here by increasing the voting rights of India, China and Brazil, among others, thus giving them more say in the institutions' functioning.
Implementation of the VAT regime, strongly favoured by the Kelkar committee on tax reforms, has been hanging fire since April this year.
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.
Kaushik Basu, till recently the chief economic adviser of the government of India, who created a political firestorm in April when he said here on the sidelines of the World Bank/International Monetary Fund meetings that no economic reforms were likely in India before 2014 when parliamentary elections are due, has been appointed the World Bank's Chief Economist and Senior Vice President.
'The impact will be minimal and it will only increase compliance cost on consent, data flows, localisation timelines, internal audits, data mapping, and new tooling.'
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.
World Bank has predicted a downward trend for India's GDP in 2008. China to follow too.
India's rural employment guarantee programme MNREGA has been ranked as the world's largest public works programme, providing social security net to almost 15 per cent of the country's population, the World Bank has said.
New Delhi might have loudly welcomed an age of multipolarity, hedging and strategic autonomy. But it seems the winner in that game is Islamabad, not us, points out Mihir S Sharma.
Indian economy grew at 7.9 per cent in fourth quarter of 2015-16.
The recipe for Indian higher education institutions to succeed in the global markets is excellence in academics, promoting contemporary socially relevant material, and enabling individuals (learners) to realise their full potential, suggests N Ravichandran.
Growth projections for 2013-14 has been arrived at by taking into account present internal and external factors.
The World Bank has retained India's economic growth forecast for the current fiscal at 8.3 per cent as the recovery is yet to become broad-based. As per the first advanced estimates of the national income released by the National Statistical Office (NSO) last week, the economy is projected to grow at 9.2 per cent in 2021-22, surpassing pre-COVID level in actual terms, mainly on account of improved performance, especially in farm, mining and manufacturing sectors. "India's economy is expected to expand by 8.3 per cent in fiscal year 2021/22 (ending March 2022), unchanged from last June's forecast as the recovery is yet to become broad-based.
Indian economy is expected to grow at over 7.5 per cent, to overtake China.
As we celebrate the 136th anniversary of Jawaharlal Nehru's birth, let's embark on a journey to places in India, and across the world, that had a connection with India's first prime minister.
The reduction in goods & services tax (GST) on individual life and health insurance premiums has been called a "landmark step" for making insurance affordable and inclusive. In a panel discussion at the Business Standard BFSI Insight Summit 2025, Anup Bagchi, managing director (MD) & chief executive officer (CEO) of ICICI Prudential Life Insurance; Mahesh Balasubramanian, MD & CEO of Kotak Life Insurance; Tarun Chugh, MD & CEO of Bajaj Life Insurance; and Ratnakar Patnaik, MD of Life Insurance Corporation of India (LIC), listed what else the industry needs to reach more people.
India is the largest client for the World Bank Group.
In a major report prepared for the World Bank by the Potsdam Institute for Climate Impact Research and Climate Analytics, the rise in temperature will trigger a cascade of cataclysmic changes that include extreme heat-waves, declining global food stocks and a sea-level rise affecting hundreds of millions of people.
Reserve Bank Governor Raghuram Rajan today criticised multilateral institutions like the IMF and the World Bank saying "they are not immune to cognitive capture".
World Bank President Robert Zoellick on Friday called on Prime Minister Manmohan Singh and discussed funding for the changing needs of the country.
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 Indian Premier League (IPL) 2026 auction saw some foreign names earning big bucks, headlined by Aussie all-rounder Cameron Green
The report, Doing Business in India 2009, took into account 17 states in the\ncountry and noted that Hyderabad and Bhubaneshwar are the two nodal locations\nsuitable for opening and operating business easily.
Purchasing power parity revision set to alter poverty estimation; fall won't be so steep once the global poverty line is revised too.
If he cannot do it this term by using his bureaucracy and experts from different fields, it will be a tragedy, asserts Ramesh Menon.
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.
Former World Bank Chief Economist Kaushik Basu on Thursday said the US economic policy towards India has taken an unfortunate turn, noting that President Donald Trump's harsh stance against New Delhi appears baffling. US President Donald Trump on Wednesday announced a 25 per cent tariff on Indian goods from August 1, amid signs of a stalemate in the ongoing bilateral trade negotiations between the two countries.
In South Asia, the poverty would fall to 13.5 per cent in 2015.
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.
This will be Jim Young Kim's first visit to India after taking over as President of the World Bank Group last July.
The World Bank said on Wednesday rise in interest rates and oil prices is likely to slow down India's growth for the next few years.
Kolkata Knight Riders splashed the cash as they spent a record breaking Rs 25.20 to buy Australian all-rounder Cameron Green.
The BCCI invited bids for the Indian cricket team's title sponsorship rights after fantasy sports giants Dream11's pullout.
According to Roshni's statement to investigators, Rohini, who worked as a martial arts coach at a private school in Ashta, had been under work-related stress.
Reforms can be the game changer for poor and help economy goes back on growth trajectory.
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