Noted economist Arvind Panagariya says India is an emerging power. With liberalisation, Indian entrepreneurs have emerged and they are top class.
According to China's National Bureau of Statistics, the GDP expanded 9.5 per cent year-on-year, which is a decline compared to the 9.7 per cent rate achieved in the first quarter.
European Investment Bank has expressed interest in financing solar park projects in India, the Asian Development Bank senior investment specialist Don Purka said on Thursday.
The demographics favour India, as it is a relatively young country with more working people than anywhere else
The engines of Asia's re-emergence - India, China and five other economies -- will account for 45 per cent of the global GDP by 2050, according to a report by the Asian Development Bank (ADB).
The Chinese yuan has the potential to be an alternative to the US dollar and help create a multi-currency global reserve system, says an Asian Development Bank report.
A study, commissioned by ADB and titled 'Policy Changes for Asia after the Global Recession: Impact of the Global Economy and Policy Implications', found Asian economies are poised for accelerated growth as the global economic crisis recedes.
The estimate was presented in the Damage and Needs Assessment (DNA), a survey conducted nationwide by ADB and the World Bank to assess the extent of the flood damage.
Global recovery following the economic downturn is still tentative and fragile, Asian Development Bank's managing director general Rajat Nag said in Ahmedabad on Friday.
The multilateral lending agency holds 3.9 crore (Rs 39 million) shares in Petronet LNG, which at today's trading price of Rs 114.85 is worth Rs 448 crore (Rs 4.48 billion).
"As our region returns to the trend, exit strategies for fiscal stimulus must be carefully timed. If left too long, deficits will be unsustainable; if withdrawan too soon, the region's recovery could be derailed."
Multilateral lending agency Asian Development Bank said on Thursday it is likely to revise upwards by the September-end India's growth and inflation forecast, which is 8.2 per cent and 5 per cent respectively for the current fiscal.
Attributing to three studies on agriculture, energy and migration, the ADB said on Wednesday the impacts of rising temperatures in Asia would fall disproportionately on the region's poor, and rural women from developing countries would be among the most affected groups.
The AEM has upgraded the regions 2010 growth forecast for the 14 emerging East Asian economies to an aggregate 8.1 per cent from the 7.7 per cent it had projected in April.
Multilateral lending agency Asian Development Bank has revised upwards India's growth projection to 6 per cent for the current fiscal on account of rising business confidence but warned that inflationary pressure would continue.
Pakistan has improved its full compliance on only two of the 40 FATF recommendations, the APG report noted.
The 50-share NSE Nifty slipped below the 10,200-mark by falling 47.20 points, or 0.46 per cent, at 10,192.95 after hovering between 10,169.85 and 10,296.55.
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The government also appointed Dr Vinod Paul, a pediatrician at the AIIMS, as a member of the NITI Aayog
India hopes to increase its share in the quotas of multilateral development banks like the International Monetary Fund and Asian Development Bank after major stakeholders in them bring forward the issue of quota review and expanding in accordance with current realities that will give proper representation to the emerging economies.
Overseas Indian workers are located in two regions -- the Middle East and developed countries such as the US, UK and Canada, ADB said. Those in the Middle East are mostly unskilled labour employed in construction and oil-related services while overseas Indians in the developed countries include skilled labour in the banking and information technology industry. 'Consequently, it is almost inevitable that remittances will decline,' the report said.
The global financial crisis slashed the value of financial assets worldwide by a massive $50 trillion last year, with developing Asia suffering more than other emerging market regions.
The report said even though overseas demand will take some more time to revive, robust domestic consumption and rising investment would place the economy firmly on the growth trajectory.
Equity benchmark Sensex tumbled 674 points on Friday, weighed by losses in banking stocks as an unabated spike in new coronavirus cases fuelled uncertainty over the economic impact of the pandemic. After hitting a low of 27,500.79 during the day, the 30-share BSE barometer ended 674.36 points or 2.39 per cent lower at 27,590.95. The NSE Nifty shed 170 points, or 2.06 per cent, to finish at 8,083.80.
The Indian equity market has emerged as third biggest after China and Hong Kong in the emerging Asian region, with a market capitalisation of nearly $600 billion, a latest ADB report says.
The still lingering global financial turmoil could push as many as 21 million more people into extreme poverty in the Asia-Pacific region, a joint report by the United Nations and Asian Development Bank said.
The observations are a part of the recently released edition of Asia Bond Monitor, a semiannual publication, which includes a theme chapter on Indian bond market. Lee said that securitization has a long history in India but the development has been slow and limted to a few asset types.
This move plus aggressive border violations by China has prompted the Indian Army to deploy extra troops and fighter jets in the area as a counter measures.
The minister would be accompanied by Finance Secretary Arvind Mayaram and other finance ministry officials.
Pakistan failed to fulfil six of the 27 mandates so far as a result of which the country continues to be in the grey list of the FATF.
The government needs about Rs 3.31 lakh crore (Rs 3.31 trillion) to meet its target of developing 35,000 kms of national highways over the next five years.
The FATF warned Pakistan that if it doesn't complete a full action plan by June, it could lead to consequences on its businesses
The adverse impact of the rupee appreciation has gone beyond exports. The currency's climb is now affecting government infrastructure projects funded by multilateral lending agency such as the Asian Development Bank (ADB).
India will receive $9.2 billion Asian Development Bank loan during 2008-10 for 31 projects in sectors like energy, transport and financial services, Finance Minister P Chidambaram said on Wednesday.
Market cap of government companies has remained unchanged in the past 8 years.
No one in Bihar will deny Nitish Kumar's contribution to governance, notes Aditi Phadnis.
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.
India on Monday said it will meet Pakistan next week to resolve issues, such as transit fee, impeding progress on the over $7 billion Iran-Pakistan-India gas pipeline project, even as it gets formally inducted in a rival line from Turkmenistan.
After GAIL, Indian Oil Corp has expressed interest in buying out Asian Development Bank's 5.2 per cent stake in Petronet LNG Ltd, company chairman Sarthak Behuria said. However, if the state-run promoters of Petronet are not allowed to raise stake in the company for fear of it becoming a public sector unit, Behuria suggested selling ADB's shareholding to the public.
Rajiv Kumar will continue as vice-chairman of the body, along with other full-time members V K Saraswat, Ramesh Chand and V K Paul.
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