'I wanted to go for the heart, and at the same time, open the audience's mind.'
The ministry is also holding a road show aimed at projecting investment opportunities in the sector. The visit is significant as the ministry is scouting investment of $70 billion for road construction in the next 3-4 years, out of which about $45 billion is expected to come from the private sector, including $10 billion from foreign investors.
Here's what Indian investors diversifying into equities, ETFs, and real estate abroad to manage risk, returns, and currency exposure must watch out for.
'An asset must generate income. Equities yield dividends, bonds pay coupons, deposits give interest, and real estate earns rent.' 'Gold, silver, and even Bitcoin produce no income, they merely store value. So, they should not be compared to productive assets.'
World Bank report on Thursday called for initiatives at the policy and institutional level to tap the economic potential it offers.
What is required is a radical reworking of business processes and incentives to which staff respond.
Stocks of IT companies, including Wipro and Megasoft, took a beating at the bourses after it was revealed on Monday that the two firms were barred from doing businesses with the World Bank.
Foxnews.com on Tuesday reported that the World Bank ban started in September this year "due to alleged malpractice's including bribery". The news report said the World Bank debarment -- the harshest sanction ever made by the bank since 2004 -- was meted out for 'improper benefit to bank staff' and 'lack of documentation on invoices'.When contacted, a Satyam spokesperson said that "the company does not comment on individual clients".
The ministry is seeking a $2.96-billion World Bank funding for double-laning of 6,300 km of single-lane highways, out of a total of about 19,000 km single-lane highways in the country.
The World Bank has asked the government to cut a slew of duties, including entertainment tax on broadband Internet connections in some states, on telecom services.
According to the report, the magnitude of internal migration is about two-and-a-half times that of international migration.
World Bank on Tuesday resumed lending to three health projects in India amounting to $662 million (about Rs 2,9.79 billion), which were discontinued for more than a year.
This will be the last visit of Zoellick as President of World Bank as he is retiring on June 30.
World Bank President Robert B Zoellick in his remarks at the Rome Conference on Food Security pointed out that 28 countries have imposed export bans on food items and stressed 'these restrictions and taxes should be lifted, at a minimum for humanitarian food purchases and transportation by World Food Programme'. UN Secretary General Bank Ki-moon on Tuesday called upon the countries to resist the temptation to impose ban on export of foodgrain.
India's largest IT services firm Tata Consultancy Services (TCS) on Thursday reported a 1.39 per cent increase in consolidated net profit to Rs 12,075 crore in the July-September quarter of this financial year.
The stock of mid-tier information technology (IT) major Persistent Systems has been one of the outperformers in the IT pack with a return of 5.3 per cent over the last year, while its peer index, the Nifty IT, is down 16.2 per cent over the same period. The strong September quarter (Q2FY26) result and upgrades by brokerages are positive but its ability to sustain growth momentum in a weak macroeconomic environment will be key for future gains. At the current levels, the stock is trading at a premium valuation of 38 times its FY27 earnings estimates.
Contradicting the International Monetary Fund, which does not want India and other countries to use any of its foreign exchange reserves for building infrastructure
In the first two years, we spent Rs 15,000 crore, which was more than our target, says S K Chaturvedi, CMD, Power Grid Corp.
India has stopped releasing water from the Baglihar Dam on the Chenab River and is planning similar measures at the Kishanganga Dam on the Jhelum River, following a recent terror attack in Jammu and Kashmir. These hydroelectric dams offer India the ability to regulate water releases. This decision potentially affects the Indus Waters Treaty, a decades-old agreement between India and Pakistan governing the use of the Indus River and its tributaries. The Baglihar and Kishanganga dams have been points of contention between the two nations in the past.
India has brought down the number of people living below $1 a day by 2 percentage points to 24.3 per cent in three years up to 2005, as Asia's third-largest economy accelerated to 7 per cent plus growth in those years, latest data from the World Bank revealed. In absolute numbers, 9.6 million people came out of poverty between 2002 and 2005, the largest reduction between two consecutive surveys released by the World Bank since 1981.
The World Bank has expressed concern over rising healthcare costs world wide while countries are struggling to cope with HIV/AIDS crisis and bird flu pandemic.
The government had projected the GDP growth to be at 8.5%.
The series promises a fascinating duel between the two modern-day pace greats.
The economic growth could slow down to 7.8 per cent in 2008 from over 9 per cent currently due to policy bottlenecks resulting in deceleration in investment growth in the country, says a World Bank report.
A credit agreement of $600 million equivalent, for the Second Elementary Education Project, was signed on Thursday between the government of India and the World Bank.
Paul Romer, a New York University professor and economist
The World Bank has sounded a note of caution on the global economy, which it says has reached a turning point with a slowdown that has already begun.
Find out what it's like to work at one of the biggest international organisations whose decisions affect the entire world.
New norms to keep Raghuram Rajan out of the race.
Amid US-China trade tensions and economic vulnerabilities, India must seize the 'China +1' opportunity, deepen reforms, secure FTAs, and globalise its firms for long-term growth, suggests Ajay Shah.
Finance Minister Nirmala Sitharaman on Tuesday asked fintech firms to focus on risk management at a time when criminals are using AI to mimic voices, clone identities and create lifelike videos to manipulate people.
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.
The opening ceremony was held in China's financial capital.
India will argue for Pakistan's return to the Financial Action Task Force (FATF) grey list due to its alleged failure to combat money laundering and terror financing. The move comes after recent tensions between the two countries following a terror attack in Pahalgam, India. India believes Pakistan has not adequately addressed the issue of terrorism emanating from its territory and has diverted funds from multilateral agencies towards arms purchases.
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