World Bank President James D Wolfensohn on Friday called on Prime Minister Manmohan Singh at his residence as he wrapped up his 3-day visit to India.
The Bank suggested reforms in infrastructure sector.
Satyam Computer Services on Wednesday announced the winning of a new long-term contract from its existing customer, the World Bank whereby it has been chosen as the World Bank's primary offshore IT services partner.
Under Aadhar, more than 1 billion people have their online identity.
A report released by the World Bank had indicated that the financial and socio-economic health of Jharkhand may improve earlier than expected.
The ministry of finance is likely to assume crude oil price to remain within $85 per barrel while estimating subsidies for the Interim Budget 2024-25 (FY25), to be presented on February 1. Brent crude prices moved up on Thursday, ending at $78.9 per barrel. Crude oil and cooking gas prices, which move in tandem, impact fertiliser and cooking gas subsidies, constituting 53 per cent of the government's total subsidies.
India retains the tag of the fastest growing country among the world's major emerging economies
RBI Governor Shaktikanta Das and Finance Secretary Subhash Chandra Garg are also expected to attend the meetings.
Structural reforms, pro-people programmes and employment opportunities helped the economy get new vigour, the finance minister said. After contracting by 5.8 per cent in 2020-21, the economy recorded a growth of 9.1 per cent in 2021-22.
World Bank report on Thursday called for initiatives at the policy and institutional level to tap the economic potential it offers.
Nobel Peace Prize laureate and economist Muhammad Yunus has urged the World Bank to reform its policies, saying the development lender has failed to achieve its main goal of eradicating poverty because of its failure to modernise anti-poverty lending programmes.
A slowdown in India's growth rate, the bank said, has also affected the growth rate of South Asia. As a result, South Asia has fallen to second place after East Asia and the Pacific.
India's rural employment guarantee programme MNREGA has been ranked as the world's largest public works programme, providing social security net to almost 15 per cent of the country's population, the World Bank has said.
The BRICS Development Bank could become a World Bank in future due to the increasing influence of emerging countries, chairman of Goldman Sachs Asset Management said on Wednesday.
Paul Romer, a New York University professor and economist
Prime Minister Narendra Modi on Wednesday said he does not have a house in his name, but his government turned lakhs of daughters in the country house-owners.
Indian economy grew at 7.9 per cent in fourth quarter of 2015-16.
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Diplomatic channels activated to keep India eligible for soft loans from World Bank affiliate, though rules show it's probably time we made way for the needier others.
Crisil Ratings on Wednesday projected India's GDP growth at 6.8 per cent in the next fiscal and said the country will become an upper middle-income nation by 2031 with the economy doubling to $7 trillion. In its India Outlook report, Crisil said the Indian economy will take support from domestic structural reforms and cyclical levers and can retain -- perhaps even improve -- its growth prospects to become the third largest economy by 2031. "After a better-than-expected 7.6 per cent this fiscal, India's real GDP growth will likely moderate to 6.8 per cent in fiscal 2025," said the Crisil India Outlook report.
The World Bank condoled the Mumbai blasts and expressed "deepest sympathies" to the families of the victims. \n
The unemployment rate for women was last this low around Diwali in 2022. The unemployment rate has dropped for women from 14.9 per cent in December 2023 to 11 per cent in January 2024, according to data from the Centre for Monitoring Indian Economy (CMIE). It was higher in January 2023 at 13.5 per cent.
World Bank has sounded the warning bells for Indian banks and financial institutions on their high non-performing assets and the risks of suffering losses if interest rate starts rising.
Of the eight RBI governors who have held office since the 1991 economic liberalisation, Bimal Jalan had the longest stint and S Venkitaramanan, the shortest. Current Governor Shaktikanta Das will overtake Bimal Jalan before completing his second term in December, points out Tamal Bandyopadhyay.
The government had projected the GDP growth to be at 8.5%.
With this India will continue to retain the position of being the fastest growing emerging economy. And by 2021, its growth rate is projected to be 1.5 per cent more than China's 6 per cent.
The market rally was driven by strong buying in telecom, banking, realty, metal, FMCG and PSU counters.
N Chandrababu Naidu, when he was chief minister of the state, had sought funding for the project in 2015, but the Bank had deferred its decision in the light of the alleged government excesses.
Paul D Wolfowitz took charge as the World Bank's 10th President on Wednesday.
Finding "sense" in the Common Minimum Programme of the United Progressive Alliance government, the World Bank on Thursday said India could at least grow by 6 per cent over the long term, but containing fiscal deficit was important.
World Bank president James D Wolfensohn will begin his two-day India visit from Wednesday to monitor the bank-funded schemes and discuss with government officials ways to step up lending to the country.
Ajay Banga will be a 'transformative leader', who will bring expertise, experience, and innovation to the position of World Bank President, United States President Joe Biden has said after the top Indian-American business executive was confirmed as the new head of the international lender.
Braulio Ferreira de Souza Dias, the executive secretary, Convention on Biological Diversity, stressed that poverty eradication has a lot to do with the agenda on biodiversity which needs to be understood by all.
World Bank economists have urged the Indian government to cut unproductive farm subsidies and utilize agriculture spending the most productive manner.
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.
In a critical comment on India, one of the fastest-growing economies in the world, the World Bank said that robust economic growth and food security alone would not remove the tag of being 'one of the most malnourished nations'.
At least five Chinese nationals were among the six persons killed on Tuesday when an explosive-packed vehicle rammed into their bus in Pakistan's troubled northwestern province of Khyber-Pakhtunkhwa, officials said.
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