The IMF on Monday raised India's growth projection to 7.3 per cent for fiscal 2025-26, up 0.7 percentage point from its October forecast, on the back of better-than-expected performance of the economy. The Washington-headquartered multilateral lending agency has also revised India's Gross Domestic Product (GDP) growth forecast to 6.4 per cent for fiscal year 2026-27 beginning April 1, 2026, from its earlier estimate of 6.2 per cent.
'I had a feeling from within that this tournament (Asia Cup) would be something special, but I did not think that I would become the player-of-the-tournament.'
RBI Governor Shaktikanta Das and Finance Secretary Subhash Chandra Garg are also expected to attend the meetings.
The World Bank and IMF have announced that they will try to complete reforms in the Bank's voting structure by next year, a move which would give emerging economies like China and India a greater say in the affairs of the financial institutions.
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.
Domestic gold exchange-traded funds (ETFs) saw their holdings jump 65 per cent to 95 tonnes in 2025, elevating Indian ETFs to sixth place globally, going by holdings of the yellow metal. At the end of 2024, they ranked eighth with 57.5 tonnes of holding, according to an analysis of data from the World Gold Council (WGC).
Investors believe Indian is a tough place to do business with.
Amid criticism over engaging experts from multilateral agencies like World Bank, Planning Commission on Wednesday asserted that none of the "outside bodies"
Sabalenka primed for Rybakina rematch with eyes on third Australian Open crown
Pakistan will get a whopping $6.2 billion aid from the World Bank in the next three years to come out of the current economic crisis, reduce poverty and improve the fragile security situation in the country.
India's Railways has struggled to expand to keep up with demand
'...including my baby sisters, age three and one.' 'My dad was humiliated, and he started screaming at them.'
Lalit Modi posted a social media video from Vijay Mallya's 70th birthday party in London, referring to the pair as the 'two biggest fugitives' of India.
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.
India is set to become the world's fourth-largest economy in 2025, but slow income growth, lack of structural change, and rising inequality highlight the gap between progress and real transformation.
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.
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.
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 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.
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.
The World Bank has approved a $1.5 billion loan for the ambitious clean India campaign.
This was stated by Union urban development minster Sugata Roy in Rajya Sabha today in response to a written question.
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.
It will enable real-time intel sharing among banks and other financial sector participants to strengthen customer protection against digital fraud.
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.
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.
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.
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.
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.
Modi said the ease of doing business ranking improved because the government initiated reforms to end difficulties in the lives of people.
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.
'Just like oral hygiene, cyber hygiene must become a daily habit,' says Beena Vaheed, executive director, Bank of Baroda. 'It is not enough to rely only on banks, companies, or the government. Each of us must play our part.'
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.
Sustaining 8 per cent-plus growth rates is necessary if we are to reach high-income status by 2047, points out Amitabh Kant.
'Maybe he was wrong, but they believed he genuinely meant what he said.'
The SC has gone a step further to state that even if one were to not apply the codified GAAR provisions, the judicial GAAR would continue to apply, point out Pranav Sayta and Bhargav Selarka.
