The revised projection comes after a 17% rise in the April-June.
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.
After disclosing late last year its decision banning Satyam Computer Services, the World Bank said earlier this month that Wipro and another Indian IT firm Megasoft have also been debarred from directly doing business with it under its corporate procurement programme. The Bank had disclosed the ban on Satyam on December 25, while debarment of Wipro and Megasoft was revealed on January 11.
The World Bank said on Monday hardening interest rates and a surge in oil prices worldwide will have a marginal impact on India's economy and the country would continue to witness high GDP growth.
'The impact will be minimal and it will only increase compliance cost on consent, data flows, localisation timelines, internal audits, data mapping, and new tooling.'
Once a quiet riverside ritual, Dev Deepawali has evolved into UP's largest soft-power spectacle -- merging faith, art, enterprise into a global cultural brand that reflects state's growing confidence.
Pulok Chatterjee, secretary in the Prime Minister's Office, has been appointed as executive director in the World Bank
India is on track to register its entire 1.25 billion population using its Aadhaar digital ID.
The reduction in goods & services tax (GST) on individual life and health insurance premiums has been called a "landmark step" for making insurance affordable and inclusive. In a panel discussion at the Business Standard BFSI Insight Summit 2025, Anup Bagchi, managing director (MD) & chief executive officer (CEO) of ICICI Prudential Life Insurance; Mahesh Balasubramanian, MD & CEO of Kotak Life Insurance; Tarun Chugh, MD & CEO of Bajaj Life Insurance; and Ratnakar Patnaik, MD of Life Insurance Corporation of India (LIC), listed what else the industry needs to reach more people.
The World Bank has approved a $1.5 billion loan for the ambitious clean India campaign.
The World Bank on Friday approved a $80-million loan for the renovation and modernisation of old, polluting and inefficient coal-fired power plants in India, in a move that could help lower carbon emissions.
Adani Enterprises' subsidiary Kutch Copper (KCL) and Australian Securities Exchange-listed Caravel Minerals on Thursday signed a non-binding memorandum of understanding (MoU) for collaboration on the Caravel Copper Project in Western Australia's Murchison region, for an undisclosed amount, according to a joint statement.
Rajinikanth may have made his last Hindi film two decades ago but he can still set the screen alight, blazing away with a gun that has dozens of barrels. As Thalaiva turns 75 on December 12, Dinesh Raheja looks back at his 17 year journey in Hindi cinema.
Chatterji, an IAS officer from the Uttar Pradesh cadre, will take over from Dhanendra Kumar for a term of three years, an official spokesperson said. Kumar, a 1968 batch IAS officer from the Haryana cadre, was to retire on October 31. However, he has been granted an extension till January 31, next year.
This was stated by Union urban development minster Sugata Roy in Rajya Sabha today in response to a written question.
Successful demonetisation will help in raising revenues on sustained basis as more and more people will come under the tax net, says a World Bank report.
This comes at a time when the global recovery remains fragile and is expected to slow later this year as the impact of the fiscal stimulus measures wanes.
Modi said the ease of doing business ranking improved because the government initiated reforms to end difficulties in the lives of people.
The Bank's projections show that developing countries face a financing shortfall of $270 to $700 billion this year, as private sector creditors shun emerging markets, and only one quarter of the most vulnerable countries have the resources to prevent a rise in poverty.
While UIDAI has given a nod for face authentication, banks need to join the process.
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.
As we celebrate the 136th anniversary of Jawaharlal Nehru's birth, let's embark on a journey to places in India, and across the world, that had a connection with India's first prime minister.
Giving an economic content to his visit to the US in the midst of high-profile diplomatic engagements, Prime Minister Manmohan Singh met World Bank President Robert Zoellick and top American CEOs in the backdrop of the financial meltdown that has kept the Bush Administration on its toes.
A boat ride through Vietnam's most glorious landscape.
The Tamil Nadu Irrigated Agriculture Modernisation and Water-Bodies Restoration and Management Project is designed to modernise irrigation systems covering over 600,000 hectares in 63 selected sub-basins throughout the state.
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.
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.
Assessing where their funds are flowing gives traders a hidden edge in predicting the market direction and momentum.
The IFC Global Corporate Governance Forum has signed an agreement with the Reuters Foundation to encourage these journalists and help them report on governance more effectively, the two organisations said.
'Re-electing Jim Yong Kim will allow the World Bank to continue to build on important initiatives and reforms.'
Bandhan Bank has filed a draft red herring prospectus with Sebi for an IPO of up to 119 million equity shares, with face value of Rs 10 each.
The government on Wednesday withdrew the order mandating pre-installation of cyber security app Sanchar Saathi on smartphones by manufacturers.
Dr Sulbha Arora, clinical director and fertility specialist at Nova IVF Fertility, explains everything you need to know about egg freezing in India, including the process, the cost and the risks involved.
Learning from East Asia, India must reform its district administration with performance, accountability, and vision to achieve the goal of Viksit Bharat, points out Deepak Mishra.
In its reply to the World Bank's allegations of corruption in five health projects worth a total of $ 568 million, the Indian govt has sent a report denying the charges. The report said World Bank has misunderstood protocols and has not provided evidence to substantiate the charges. The Union Health Ministry has said that the report erroneously created an impression that the health sector delivery system is beset with fraud and corruption. It has also damaged its credibility.
The World Bank is likely to sanction a reform-linked loan of Rs 16,000 crore (Rs 160 billion) to the UP government. The loan, called "UP Development Policy Loan", is in an advanced stage of negotiation and likely to be credited to UP in the current fiscal. The loan will help the state government retire costly old debt, which will reduce the annual interest burden by Rs 700 crore (Rs 7 billion).
With the Japanese government taking a lead in funding the megapolis' many signature infrastructure projects, the World Bank has evinced interest in funding the proposed Charkop-Dahisar and Wadala-Teen Hath Naka Metro projects.
Investors who constantly hop between 'top-performing' funds often end up earning far lower returns than the very funds they invest in -- simply because they enter late and exit early. Best investors don't chase returns, they chase discipline, says Ramalingam Kalirajan.
In a statement on Wednesday, World Bank said that its President Robert B Zoellick has announced that he would step down at the end of a five-year term in which a transformed Bank played an historic role during the global economic crisis, using record replenishments to provide more than $247 billion to help developing countries boost growth and overcome poverty.
