The NSE Nifty also gained 53 points, or 0.49 per cent, to settle 10,855.15 after shuttling between 10,870.40 and 10,749.40.
The govt plans to seek Centre's help for a re-assessment by the World Bank.
India's road sector may require an investment of Rs 87,440 crore (Rs 874.40 billion) by 2012 to achieve high growth rate, a latest study of the World Bank 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'.
DEA is currently headed on an interim basis by Corporate Affairs Secretary Tapan Ray
Concerned over an increased level of protectionism, the World Bank found India to be the most active nation in initiating anti-dumping measures against imports affecting 19 countries.
Meera Shankar, Indian Ambassador to the United States, informed that India has convened a ministerial meeting in September in New Delhi to see how we can bring the Doha Round back on track and as a follow up to that meeting experts were expected to meet in October in Geneva.
Remittance is defined as the sum of money paid to someone at a distance.
Recent estimates show that foodgrain production in 2016-17 has touched a new record of 273.4 million tonnes or 8.7 per cent higher as compared to last year.
The World Bank assistance will be utilised for converting 6,372 km of one-lane highways to two-lane, out of the total of 19,702 km of single lane highways in the country.
Figures of people living below the poverty line in India was being fudged by international agencies like the World Bank to paint a grim picture of the Indian economy, Planning Commission Member N K Singh said on Monday.
Stating that pushing GDP growth, which has slipped to 5-year low of 6.8 per cent in 2018-19, is the top priority, President Ramnath Kovind said Modi govt will bring more reforms and raise farm investments to boost growth.
This is an increase of $1.1 billion over the previous year, the World Bank said on Thursday, adding that it invested $6.6 billion in 89 projects to promote economic growth, fight poverty and assist private businesses. This includes nearly $2 billion in infrastructure financing, a critical sector to provide the foundation for rapid recovery from the crisis and job creation.
The World Bank on Monday forecast India's economy to expand by 5.1 per cent this fiscal, the slowest in six years, although the country has consistently outperformed the multilateral funder's estimates in the past.
Boosted by the strength of India and China, developing nations would grow 1.2 per cent this year, but without the two, these economies would shrink 1.6 per cent, says the World Bank. Warning that the world is entering an era of "slower growth", the multilateral
Consumption was the major driver, contributing 58.8 per cent to GDP growth
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The United States continues to remain the world's largest economy.
Rising unemployment rate reflects a rise in the labour participation rate, which in India's case has been worryingly low.
'If the RBI reduces the rate of interest, housing demand can pick up, investment can pick up, automobile demand can pick up...'
Remittances to the developing world are expected to reach $440bn in 2015.
Of the 17 cities figured in the World Bank and International Finance Corporation's "Doing Business In India 2009" report, Jaipur, Hyderabad and Bhubaneshwar are the other cities where it is easier to start a business.
With just 11.8 per cent, the nation lags behind its neighbours and peers when it comes to women's representation in national legislatures.
Nitish Kumar-led Bihar is followed by Telangana and Jharkhand.
Raghuram Rajan, Governor of the Reserve Bank of India, has scoffed at the contention that BJP's Prime Ministerial nominee, Gujarat Chief Minister Narendra Modi will be the knight in shining armour who will root out corruption in India.
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.
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.
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".
'We are working to put up an actual plan in play to deal with the banking situation, which is top of our agenda,' finance minister tells Harvard University students.
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.
An alumnus of St Stephen's College, Delhi, his professional career began in the early 1990s. He completed a Master's degree in international affairs from Columbia University during 1996-98. And an MBA from Northeastern University, Boston.
The recent release of the updated index for comparing the value of currencies across countries - generally known as purchasing power parity, or PPP - will have far-reaching implications.
'If money is spent on good projects, then it is explainable, especially in deflationary circumstances. To boost demand, there is a need to increase spending,' Justin Yifu Lin, chief economist, World Bank.
According to the report, the global economy is projected to strengthen this year, with growth picking up in developing countries.
The Bank suggested reforms in infrastructure sector.
'The expectation was that Modi would become even bolder in his approach, and after only four months into his second term, we are starting to see evidence of this.'
As a result, the global investment in developed countries will triple in the next two decades.
The government proposes to divest 76 per cent of Air India, along with its shareholding in Air India Express and its ground-handling subsidiary, AISATS.
India will also play an increasingly important role as one of the Asia-Pacific region's major economic growth engines, helping to drive Asian regional trade and investment flows.
Does Abhijit Banerjee's Nobel Prize help India reduce extreme poverty, asks Rajeev Srinivasan.
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