Taking a dig at India and other countries that believe economic activities must be spread geographically to benefit the poor, a new World Bank report has called for concentration of production, mobility of people and economic integration to lift rural people out of poverty. Population shift from villages to cities is natural and should be encouraged, it said.
It will enable real-time intel sharing among banks and other financial sector participants to strengthen customer protection against digital fraud.
Sabalenka primed for Rybakina rematch with eyes on third Australian Open crown
The slowdown in global remittance flows that became evident in the last quarter of 2008 has continued in the first half of 2009. However, South Asian countries like India, Pakistan and Bangladesh have continued to post strong growth till now because of remittances from the Gulf region.
The World Bank will not reduce financial assistance to India for poverty alleviation measures because of the recent official data that showed a decline in the number of poor people in the country.
The Communist Party of India-Maoist on Tuesday finally broke its silence over the tragic death of Andhra Pradesh Chief Minister Y S Rajasekhara Reddy. The outlawed organisation described his death as the end of an era of a 'dictator, a war lord and an undemocratic World Bank agent'.Koteshwara Rao alias Kishenji, a senior underground leader of the CPI-Maoist, dismissed the outpouring of grief across the state after YSR's demise as an orchestrated show.
Jim Yong Kim, president of the International Bank for Reconstruction and Development concluded his three-day visit to India on Wednesday.
'Maybe he was wrong, but they believed he genuinely meant what he said.'
The multilateral agency had earlier projected that the world economy would expand by 3.6 per cent this year.
The World Bank, the United Nations and private sector partners recently launched a competitive development marketplace aimed at identifying and funding innovative approaches to reduce stigma and discrimination associated with HIV and AIDS in India and other South Asian countries. The initiative, called 'Tackling HIV and AIDS Stigma and Discrimination: From Insights to Action,' targets communities across India and the rest of the subcontinent.
'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 new project will concentrate on the states of Himachal Pradesh, Jharkhand, Meghalaya, Punjab, Rajasthan, Uttarakhand, and Uttar Pradesh, the Bank said.
On the eve of World AIDS Day 2011, the World Bank has released groundbreaking new evidence from India that demonstrates major advances in the understanding and prevention of HIV/AIDS of up to 3 million HIV/AIDS cases.
World Bank President Jim Yong Kim said on Tuesday that he sees much promise in Uttar Pradesh chief minister Akhilesh Yadav, with whom he held an hour-long meeting on Tuesday morning.
'We wrote to the bank a few weeks ago. We don't expect an immediate response as these things take time but we disagree with the claims they've made,' Australian IT quoted Tech Mahindra executive vice-chairman Vineet Nayyar as saying in Sydney. Satyam was blacklisted last September and a month later was forced to deny reports that its contractors had installed spy software on World Bank computers.
The Bank had predicted that China's GDP growth would slow to 8.7 per cent in 2011 in its last quarterly report released last November.
Firmly rejecting the contention that rising consumption in developing nations was responsible for the soaring food and fuel prices, India has blamed the policies of World Bank and IMF and 'excessive and unsustainable' demand in developed countries for the crisis.
"Despite a booming economy, India's growth potential is constrained by inadequate electricity services and limited power generation and supply infrastructure... The power sector has improved in recent years, albeit in an environment where demand for electricity continues to outstrip supply," the bank said. The Bank has made three direct loans to Power Grid since 1993.
Sustaining 8 per cent-plus growth rates is necessary if we are to reach high-income status by 2047, points out Amitabh Kant.
South Africa will be eager to turn consistent recent form into a title-winning run when they open their women's ODI World Cup campaign against traditional powerhouses England in Guwahati on Friday.
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.
'The trade deficit in some sectors is huge and that is an area of opportunity to localise.'
India's gross domestic product (GDP) can grow at seven per cent or more, provided the process of reforms is expedited, the World Bank has said.
The World Bank has decided to extend an additional soft loan of $ 1.05 billion (Rs 4,772 crore) to the government to improve the quality of education under two major schemes on elementary and technical education.
The Supreme Court has put on hold the Uttar Pradesh government's plan to develop the Shri Banke Bihari Temple Corridor in Vrindavan, citing a lack of consultation with key stakeholders. The court questioned the state's approach and the urgency of enacting an ordinance to take over the temple's management.
India will catch up with China's growth at 7 per cent during 2016-17, the World Bank has forecast, saying India's economy has recovered in the wake of the economic reform measures taken by the new Indian government, falling oil prices and lower interest rates.
India does not feature in the top 100 countries on eight of the 10 indicators of the World Bank study.
Attributing the growth to an upswing in consumption and investment, the World Bank has said India will continue to be the fastest growing major economy in the world.
The core dilemma remains: Why provide further stimulus to an economy that is already booming at an 8 per cent growth rate? asks Rajeswari Sengupta.
The panel, headed by Congress MP Saptagiri Sankar Ulaka, had called Patkar to hear her views on the implementation and effectiveness of the land acquisition law enacted by Parliament when the Congress-led UPA government was in power in 2013.
The report said that 1.2 billion people are still living in extreme poverty across the world.
Officials from both India and the US in the recent past have indicated that a "fair deal" will be concluded soon, with Indian officials holding that more formal rounds of talks are not needed.
As a result, the global investment in developed countries will triple in the next two decades.
World Bank expects India to absorb the oil price shocks and remain unaffected from the depreciation of the US dollar against the rupee.
Budget 2026 sticks to fiscal discipline, shuns populist measures despite five key state elections coming up, but ends up rattling stock markets with a higher transaction tax on derivatives trading.
The key question is how much of the latest growth record represents recovery from the 2020-2021 downturn, and what is the sustainable growth rate now, asks T N Ninan.
The Reserve Bank of India (RBI) does not target any price level on the rupee, Governor Sanjay Malhotra reiterated at an International Monetary Fund and World Bank event on Wednesday.
