The World Bank has appointed Indermit Gill, an Indian national, chief economist and senior vice-president for development economics at the multilateral development bank. "Indermit Gill brings to this role a combination of leadership, invaluable expertise and practical experience working with country governments on macroeconomic imbalances, growth, poverty, institutions, conflict, and climate change," World Bank President David Malpass said in a statement. His appointment will be effective September 1, 2022.
Giving the slogan of "one earth, many efforts", he said India is ready to lend its support to actions to make environment better and improve global wellness.
At the World Bank Banga will be replacing David Malpass, a former Trump treasury official, reports axios.com. Malpass had already announced that he will resign by July, months ahead of his term expired. "Ajay is uniquely equipped to lead the World Bank at this critical moment in history," President Biden said in a statement. Banga, 63, currently serves as vice chairman at General Atlantic.
The finance minister continues to be backed by the same policy team in charting out the broad strategy as in the few earlier Budgets.
India scripted history as the ambitious third Moon mission of the Indian Space Research Organisation (ISRO) touched down on the Moon's south pole, propelling the country to an exclusive club of four and making it the first nation to land on the uncharted surface.
Moody's Ratings on Tuesday said India's growing water shortage can disrupt farm and industry sectors and is detrimental to the credit health of the sovereign as rising food inflation and decline in income may spark social unrest. It said decreases in water supply can disrupt agricultural production and industrial operations, resulting in inflation in food prices and hence can be detrimental to credit health of sectors that heavily consume water, such as coal power generators and steel-makers.
At a virtual press conference to launch the report, Inger Anderson, Executive Director, United Nations Environment Programme, said, "Climate change is here and now. No one is safe. Despite warnings from so many years, the world did not listen. We need to act now. Reducing greenhouse gas emissions will not only limit climate change but also reduce air pollution."
You don't prep for 2028 but for 2040, or even 2044. Sustained sporting excellence is based on mass support, grassroots development, and funding - and it is this trifecta India needs to work on, systematically, asserts Prem Panicker.
The idea that India is the world's largest democracy is a complete lie, Rahul Gandhi alleged.
'It was specifically mentioned in the Gadgil Committee report that this particular area where the colossal landside happened now should be in the Environmentally Sensitive Area under Zone 1.' 'Zone 1 is the most important and ecologically sensitive area, and that it has to be protected entirely.' 'At least 90% of the Wayanad disaster is man-made.'
Salaries in India are expected to increase by 9.5 per cent in 2024, slightly lower than the actual increase of 9.7 per cent in 2023, largely in response to market dynamics, according to global professional services firm Aon plc. According to the firm's annual salary increase and turnover survey 2023-24 India, that analysed data across 1,414 companies from almost 45 industries, salary increase in India seems to have stabilised at high single digits, after the post-pandemic high increments in 2022. "The projected increase in salaries in the Indian formal sector indicates a strategic adjustment in response to the evolving economic landscape.
'If such a practice were feasible, every state would seek additional funds, posing a significant risk to the overall health of the economy.'
'We are allowing FDI on the terms of the investors, multinationals.' 'We bow down to whatever they say.' 'When they say you open this sector, we open that sector.'
The World Bank has approved loans totalling $1.75 billion (about Rs 13,834.54 crore) to fund India's PM Ayushman Bharat scheme and private investment to boost the economic growth. Of the total loan, $1 billion will go towards the health sector, while the rest $750 million will be in the form of development policy loan (DPL) to fill the financing gaps through private sector investment in the economy. The World Bank Board of Executive Directors approved two complementary loans of $500 million each to support and enhance India's health sector.
The guidelines have been prepared in line with the National Education Policy (NEP) 2020 that has envisioned that top universities in the world will be facilitated to operate in India.
Having created businesses ranging from world's largest single-location oil refining complex to nation's largest mobile network operators in just few years, billionaire Mukesh Ambani says his group Reliance Industries Ltd will never be complacent and will grow to be among the top 10 business conglomerates of the world. Addressing employees on Reliance Family Day - the birthday of the group's founder Dhirubhai Ambani, he said Reliance is now aiming to consolidate a place among global leaders in digital data platforms and AI adoption. "Today, the domestic and global environments for business are changing very fast.
In January, Visa's chief executive officer, Al Kelly, said during an earnings call that "there's been a burst of the balloon in valuations in the fintech world". Noting that the trend of lower valuations "is a helpful characteristic of the current environment", he added: "We will look for capabilities and management teams that will bring more value to Visa than we can bring ourselves." Data from KPMG's Pulse of Fintech H2'22 shows that global fintech investment - via mergers and acquisitions (M&As), private equity (PE) and venture capital (VC) firms - at $164.1 billion in 2022, was down 31 per cent over the year before. Indian fintechs held up better during this timeframe, attracting $6 billion, or a fall of 24 per cent.
'Isn't it obvious? Do you have a doubt? There is so much data that shows that there is quid pro quo.' 'There are many instances of donations being given after the raids, donations being given before the award of a contract and many other permutations and combinations.'
Shekhar Kumar, an HR expert, talent, and client acquisition leader at SEPL offers advice on how to grow professionally.
...Even if it means less democracy, so that their everyday problems get solved? argues R Jagannathan.
The UGC defended Jio Institute's inclusion on the grounds that it was selected under rules for greenfield institutions. According to officials, 11 such institutions had applied for the IoE tag and Jio was selected from among them.
Among the Sensex firms, Larsen & Toubro, UltraTech Cement, JSW Steel, Titan, Bajaj Finance, Wipro, Tech Mahindra and Nestle were the major laggards. Maruti, Power Grid, Axis Bank, State Bank of India, NTPC, HDFC Bank, ITC and IndusInd Bank were the gainers.
Several global models are predicting El Nio to appear around the second half of the year, which are the crucial rain-bearing months.
For the first time, the Indian Institutes of Technology (IIT), Bombay and Delhi were ranked among QS top 50 engineering colleges in the world.
Former National Aeronautics and Space Administration (NASA) Official Mike Gold has said Chandrayaan-3's success is a triumph of Indian innovation, human capital and the capabilities that will take India even further.
World over, pluralism is in retreat. Luckily for us, Indian pluralism and its consequent tolerance of diversity is rooted in our basic values. As long as we remain faithful to these values and keep our institutions in good health, the Indian miracle of last 75 years is likely to last centuries, asserts Colonel Anil A Athale (retd).
Big Girls Don't Cry is too solemn to be fun and too timid to be truly bold, feels Deepa Gahlot.
Six decades and more later, we are now captives of our identities. Every poll is based on elaborate calculations of electability of candidates on the basis of their castes and other narrow definers. That, along with voter promiscuity, is what defines our political culture, which remains stubbornly resistant to any change, asserts Shreekant Sambrani.
Prime Minister Narendra Modi Thursday made a strong push for reforming multilateral institutions, including the United Nations, and spoke glowingly of India's ties with the United States, saying the two countries stand at a new dawn in their relationship that will not only shape their destiny but also that of the world.
Discover some of the winners of 2022 World Press Photo Contest.
At this year's TIME ball in New York City on Thursday, April 25, you would have run into a Coimbatore-born American scientist, looking lovely in Sabyasachi Mukherjee designer finery, who would most likely have been hanging out with Dua Lipa.
For the startup ecosystem in India, the scorecard so far has been a mixed bag, observes Akhil Gupta.
The migration of domestically developed intellectual property to foreign corporations within India reflects an anomaly in the demand pattern of the country's job market, points out Kanika Datta.
As the United States focuses on the Indo-Pacific, in particular the Quad, the Biden administration needs to address India's ties with Russia and its 'downward trend of democratic values and institutions', said a report by the Democratic Party of the Senate Foreign Affairs Committee.
It is in circumstances like this that the Constitution becomes extremely important. It reminds us that we have a commitment towards higher human values to fulfil, a path to get back to, suggests Shyam G Menon.Else, we risk being rudderless in an ocean of money and majoritarianism, suggests Shyam G Menon.
Modi said there was a need to make transactions 'transparent' in India.
Dr Shreekant Sambrani pays tribute to M S Swaminathan, renowned agricultural scientist and a lifelong crusader against hunger who passed away in Chennai recently.
'Keeping the global temperature below not just 1.5 degree Celsius, even 2 degree Celsius is beyond our reach now. Both are impossible.'
More and more women are making their presence felt in jobs related to sciences, technology, and engineering across organisations.
"This is very, very shocking! The images are very dramatic on television," says Mihir Bhatt, managing director of the All India Disaster Mitigation Institute, on seeing the images of Tsunami-ravaged Japan.
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