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.
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.
Spiralling prices of wheat, maize, sugar and oils apart from food items such as vegetables turning costlier, are pushing food inflation higher, according to World Bank.
While UIDAI has given a nod for face authentication, banks need to join the process.
Three days after the World Bank decided to ban it for eight years, Satyam Computer Services today hit back and demanded an apology from the bank for "certain inappropriate statements" made by its representatives.
The World Bank group has been publishing annually 'Doing Business Report' since 2004.
Domestic veterans Ruturaj Gaikwad, Rajat Patidar and Rinku Singh could keep the team management interested going forward in Test cricket.
Besides him, Brajendra Navnit who served in the Prime Minister's Office (PMO) has been appointed as Ambassador and Permanent Representative of India to the World Trade Organisation (WTO), Geneva, Switzerland. Topno is a 1996 batch Indian Administrative Service officer of Gujarat cadre.
The Mumbai Metropolitan Region Development Authority, which is implementing the project, said that it was in talks with the World Bank for funding the project.
There is lack of scientific basis in computing the poverty line, says govt.
Implementation of the VAT regime, strongly favoured by the Kelkar committee on tax reforms, has been hanging fire since April this year.
Learning from East Asia, India must reform its district administration with performance, accountability, and vision to achieve the goal of Viksit Bharat, points out Deepak Mishra.
The World Bank on Wednesday lowered its economic growth forecast for China this year to 6.5 per cent, down from 7.5 per cent at the end of last November, after huge falls in exports and shrinking private sector investment.
Pankaj Kapur, who visibly enjoys playing the ringmaster to this family circus, is the glue that holds Thode Door Thode Paas together, observes Deepa Gahlot.
Purchasing power parity revision set to alter poverty estimation; fall won't be so steep once the global poverty line is revised too.
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.
Tere Ishk Mein is a disservice to brilliant actors like Dhanush and Kriti Sanon, who have poured their heart and soul into their performances in a story that fails to honour its characters, notes Divya Nair.
Gold's glittering rally is expected to continue, with prices likely to climb towards $4,500 per ounce in overseas markets, supported by sustained global central bank purchases, persistent geopolitical tensions, and strong Asian demand, according to a report by Motilal Oswal Financial Services Ltd. Silver, which has outperformed gold in terms of returns so far this year, is projected to climb to around $75 per ounce, aided by robust industrial consumption and a widening supply deficit, the report said.
'When you think of cross-border payments, the first things that come to mind are risk, compliance, taxation, speed, and cost.'
Better learning for all students worldwide is vital because economic growth, better development, and significantly less poverty depend on the knowledge and skills that people gain, not the years spent in a classroom, it said while launching its education strategy for the next decade.
Megasoft became the third Indian software vendor to have attracted the World Bank's ire, while Nestor Pharmaceuticals and Gap International were non-IT entities.
Prime Minister Narendra Modi asserted his commitment to eradicating Maoist terror from India, criticizing the previous Congress regime for allegedly supporting 'urban Naxals' and ignoring the violence they perpetrated. He highlighted the significant reduction in Maoist-affected districts and the surrender of numerous Naxalites as evidence of his government's success in combating the issue.
Manu Bhaker said she is banking on her ability to go the extra mile in training to achieve success in upcoming events, including World Championships and World Cup Finals.
World Bank President Robert Zoellick on Friday called on Prime Minister Manmohan Singh and discussed funding for the changing needs of the country.
Prime Minister Narendra Modi on Thursday invited global businesses to participate in the growth story of India, which is the fastest growing large economy of the world.
The market rally was driven by strong buying in telecom, banking, realty, metal, FMCG and PSU counters.
Indian economy is expected to grow at over 7.5 per cent, to overtake China.
Even by conservative assumptions that 5 to 10 per cent of infected individuals develop long Covid, India today may be home to 50 to 100 million infected individuals -- many silently coping with breathlessness, fatigue, palpitations, brain fog, or unexplained clotting tendencies.
The government on Thursday permitted RBI to invest $4.3 billion in special bonds of the World Bank, which would raise the agency's lending limit to India by a similar amount to $21.8 billion for infrastructure investment.
The expert overruled Pakistan's other technical objections.
India is the largest client for the World Bank Group.
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.
World Bank has predicted a downward trend for India's GDP in 2008. China to follow too.
"Oil prices are not going to come down. The era of cheap food is over and prices are likely to remain high for at least the next 10 years," World Bank South Asia Region Vice-President Praful Patel told PTI. He said the current situation has 'caught the whole world by surprise' and the crisis was due to a combination of factors, he said.
In its report 'Global Economic Prospects 2010' the World Bank has said: 'Global GDP, which declined by 2.2 per cent in 2009, is expected to grow 2.7 per cent this year and 3.2 per cent in 2011'.
