Empathising with Indian exporters hit by a rising rupee, the World Bank on Monday said government should look at options beyond tax sops to raise productivity and make the industry globally competitive.
Money to be used for the Rs 174,000-crore Bharat Nirman programme to develop rural infrastructure.
India and China will continue to be the focus of the World Bank as these countries represent 70 per cent of the poor in the world, said the Bank president Robert Zoellick. "You've more poor in India than in all of sub-Saharan Africa. So if we're focused on poverty, we have to focus on these countries (India and China)", he told BBC in an interview to be broadcast on Sunday.
This will be Jim Young Kim's first visit to India after taking over as President of the World Bank Group last July.
Saudi Arabia's Al-Hilal stunned Manchester City 4-3 in extra-time in Orlando on Monday to pull off one of the shocks of the Club World Cup.
'I realised why the farmers and the rural folks are going for Trump. They are so insecure and vulnerable that anybody who is throwing a line of hope to them, they seize it.'
In President Donald Trump's big priority bill, there is a proposal for a 5 percent excise tax on remittance transfers that would cover more than 40 million people, including those holding green cards and H1B visas.
"We have sought assistance from World Bank for 37,000 km of roads as we plan to take up work on these projects soon," Road Minister C P Joshi told reporters after a meeting with a World Bank delegation, headed by its South Asia Region Vice President Isabel Guerrero.
The United States has a moral and national interest in helping poor and struggling countries transform themselves into free and hopeful societies, Bush said.
The race for the top position at the Bank is really heating up.
The World Bank's move came as it told the two countries that it was responding to their separate proceedings initiated under the Indus Waters Treaty 1960.
World Bank President Jim Yong Kim, who is on a three-day visit to India, said a projected five per cent GDP growth in the current financial year was disappointing, but future prospects for the country were good.
Subramanian recommended five ways of financing additional expenditure over a period of one year, including cutting expenditure and borrowing directly from the RBI or monetising debt.
The downgraded World Bank forecast follows a similar move by the International Monetary Fund, which cut its growth forecasts two months ago
A World Bank study has virtually questioned the methodology of sovereign rating by the international agencies, saying there was evidence that Moody's such rating had low predictive power for currency crises.\n\n\n\n
Prime Minister Narendra Modi inaugurates the Navi Mumbai International Airport and a portion of the Mumbai Metro Line, marking significant improvements to transportation infrastructure in Mumbai.
In its latest report, the Bank has lowered its forecasts for developing countries, now eying growth at 4.8 per cent this year, down from its January estimate of 5.3 per cent.
The UK government on Sunday announced that it will support "iconic British brand" Jaguar Land Rover (JLR) with a loan guarantee of up to 1.5 billion pounds to give certainty to the Tata Motors owned carmaker's supply chain following a devastating cyber-attack. The loan will come from a commercial bank, backed by the Department for Business and Trade's (DBT) Export Development Guarantee (EDG), provided by export credit agency UK Export Finance, to be paid back over five years.
A feature of this year's BRICS summit was economic cooperation.
In South Asia, the poverty would fall to 13.5 per cent in 2015.
Wipro had denied allegations of providing improper benefits to Bank staff.
Indian information-technology (IT) service providers are likely to report another quarter (July-September) of low, single-digit growth owing to macro uncertainties, chiefly emanating from America, with no respite in sight even in the second half of the year.
World Bank on Monday said it would help the bank in moving away from an individual 'ring-fenced' project financing to a broad-based assistance to India.
'What we need to watch is how Saudi Arabia's financial assistance will be used by Pakistan. If the funds go to build their military hardware and operations, it should worry us.'
Robert B Zoellick will succeed Paul Wolfowitz as the 11th president of the International Bank for Reconstruction and Development, or the World Bank, for a five-year term from July 1, 2007.
His remarks came in response to several European nations announcing their decision to recognise a Palestinian state during a summit at the UNGA on Monday. While the move was largely symbolic, it added to Israel's diplomatic isolation. Washington, however, has made clear it does not support the step.
Congress leader Sonia Gandhi criticizes the Modi government's stance on Palestine, calling it a 'profound silence' and an abdication of humanity and morality. She argues that India needs to demonstrate leadership on the issue and that the government's actions are driven by personal friendship rather than constitutional values or strategic interests.
India's economy is estimated to contract by 9.6 per cent in the fiscal year 2020-21, reflecting a sharp drop in household spending and private investment, and the growth is expected to recover to 5.4 per cent in 2021, the World Bank said on Tuesday. In its Global Economic Prospects report, the World Bank said that the informal sector, which accounts for four-fifths of employment, has been subject to severe income losses during the COVID-19 pandemic.
Current President Robert Zoellick, who took office in July 2007, is schedule to retire in June.
Attacking the industrialised countries for agricultural protectionism, which was hurting the economies of poor nations, the World Bank has stressed that global trade liberalisation was critical for reducing poverty in developing countries.
The report, Doing Business in India 2009, took into account 17 states in the\ncountry and noted that Hyderabad and Bhubaneshwar are the two nodal locations\nsuitable for opening and operating business easily.
India on Monday hoped that World Bank would resume funding for a child health programme, as the government has agreed to put in place measures to check corruption and take action against those involved.
World Bank on Wednesday warned that a prolonged war in Iraq may adversely affect India's GDP growth prospects in this fiscal.
World Bank on Wednesday asked developed countries to work out a "trade deal" including removal of trade barriers to accelerate growth in the developing nations.
Kim, 52, will take over at the beginning of July, after the current president, Robert B Zoellick, steps down at the end of his five-year term.
Women's World Cup winner Divya Deshmukh, who has also qualified for the Women's Candidates, has opted out of the women's section to compete with the best in business.
The road transport ministry has asked the National Highways Authority of India (NHAI) to ascertain the findings of a report by the World Bank's Institutional Integrity Unit. According to the report, contractors paid bribes and gifts to influence the actions of NHAI officials and consultants.
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