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.
The government had projected the GDP growth to be at 8.5%.
New norms to keep Raghuram Rajan out of the race.
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.
Find out what it's like to work at one of the biggest international organisations whose decisions affect the entire world.
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
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.
Fight on toward goals that keep receding, or exit with most objectives unmet. Trump is agitated, his poll numbers falling below the Plimsoll line, his base fractured between those who back the war and those who remember that he campaigned on ending them.
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.
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.
"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.
Ask rediffGURU Naveenn Kummar your insurance mutual fund and personal finance-related questions.
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.
'Women in crime can turn on and off emotions like a tap.' 'Something that comes in the way of their goals can be eliminated without a second thought.'
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
India retains the tag of the fastest growing country among the world's major emerging economies
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.
French President Emmanuel Macron announced that India and France will collaborate to develop an artificial intelligence framework that combines innovation with responsibility and technology with humanity, addressing the need for inclusive digital tools amid rising geopolitical tensions.
The World Bank report said Brand Northeast would build on elements such as healthy living, environmental sustainability, social responsibility, service orientation, among others.
India announces Padma Shri awards for 45 individuals, recognizing 'unsung heroes' like a former bus conductor who created the world's largest free library and a pediatrician who established Asia's first human milk bank.
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.
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.
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.
In this rivalry, numbers fade and national pride takes centre stage.
