"India did a self-assessment (by the Committee on Financial Sector Assessment, or CFSA) of its financial sector in 2009. This has given us the confidence to get our financial sector evaluated by international financial institutions like IMF and the World Bank. We have voluntarily sought a full-fledged Financial Sector Assessment Programme," Finance Minister Pranab Mukherjee said at the second International Finance Conference at the Indian Institute of Management, Calcutta.
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Modi said the ease of doing business ranking improved because the government initiated reforms to end difficulties in the lives of people.
There is lack of scientific basis in computing the poverty line, says govt.
When it comes to issue of women's jobs, there is quite a bit of anomaly in India.
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.
The World Bank group has been publishing annually 'Doing Business Report' since 2004.
During that period, the World Bank Group's private sector arm, IFC, committed $1.2 billion in India.
Indian economy is expected to grow at over 7.5 per cent, to overtake China.
World Bank resumed financing the Mumbai Urban Transport Project on Thursday lifting the suspension imposed in March.
This will be the last visit of Zoellick as President of World Bank as he is retiring on June 30.
India was the World Bank's favourite last financial year when it came to extending financial aid in the form of loans, both among developing countries and the world's poorest nations.
The downgraded World Bank forecast follows a similar move by the International Monetary Fund, which cut its growth forecasts two months ago
A World Bank reports says the country has shown signs of "some softening" that could slow down the pace of growth slightly in 2011.
Pharma firm Ambalal Sarabhai Enterprises Ltd, Mumbai-based Chemito Technologies, New Delhi-based Global Spin Weave Ltd and its director Sudhir Agrawal, have been banned from participating in any World Bank-financed or executed projects.
In India, economic activity slowed substantially in 2019, with the deceleration most pronounced in the manufacturing and agriculture sectors, whereas government-related services sub-sectors received significant support from public spending, the Bank said.
Purchasing power parity revision set to alter poverty estimation; fall won't be so steep once the global poverty line is revised too.
The World Bank has agreed to provide give a $900 million financial aid to Pakistan which is facing devastating flood that has affected 14 million people.
Former US Trade Representative and US Deputy Secretary of State, Robert B Zoellick (53), is said to be the frontrunner for the post of the next World Bank president, according to a report in the Financial Times.
South Asia has the highest gender inequality in the world, says Kalpana Kochhar.
'There is no tried and true recipe for creating Silicon Valleys.' 'Attracting and creating a mass of truly dynamic entrepreneurs is at the core and among the hardest and most necessary ingredients.' 'In the US, close to 60% of the top valued tech companies were started by immigrants who found the start-up climate to be superior to where they came from.' 'India would clearly benefit from attracting back its talented Diaspora, but it also needs to hold onto those entrepreneurs.'
The World Bank on Wednesday cut India's economic growth projection to 6% for the current fiscal from 6.9% estimated earlier and blamed the slow down on corruption scandals and a host of policy issues including uncertainty in tax policies.
Financially burdened Prasar Bharati on Thursday sought government facilitation to help it receive assistance from the World Bank in its modernisation efforts.
The ministry is also holding a road show aimed at projecting investment opportunities in the sector. The visit is significant as the ministry is scouting investment of $70 billion for road construction in the next 3-4 years, out of which about $45 billion is expected to come from the private sector, including $10 billion from foreign investors.
Terming India's fiscal decentralisation as 'flawed', the World Bank has mooted six broad strategies, including strengthening the state finance commissions, broadening tax base and greater devolution of power to Panchayati Raj institutions.
The Reserve Bank of India on Friday raised the GDP growth projection for the current fiscal to 7 per cent from 6.5 per cent earlier on buoyant domestic demand and higher capacity utilisation in the manufacturing sector. Announcing the bi-monthly monetary policy, RBI Governor Shaktikanta Das, however, flagged protracted geopolitical turmoil and global economic fragmentation as risks to the growth outlook. The RBI kept interest rates unchanged at 6.5 per cent in Friday's monetary policy statement.
The government should reduce entry and exit barriers for the manufacturing sector and remove infrastructure bottlenecks for improving investment climate, the World Bank has said.
Amid the controversy over 'ownership issue', Reliance Industries vice-chairman Anil Ambani on Wednesday skipped a World Bank conference on 'Improving India's Investment Climate'.
India is the largest client for the World Bank Group.
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.
Arvind Subramanian was appointed CEA in October 2014 and got a year's extension in September 2017
What is required is a radical reworking of business processes and incentives to which staff respond.
The World Bank has suggested that cess on petrol and diesel be doubled to Rs 3 per litre to partly generate Rs 100,000 crore (Rs 1,000 billion) needed by 2011 for constructing roads and highways in the country.
World Bank and its private lending arm International Finance Corporation are planning to float rupee-denominated bonds worth $100 million each when market conditions are 'favourable.'
In the 12-month cycle starting July 2013 and ending June 2014, World Bank had made financial commitments close to $5.2 billion 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.
The ministry is seeking a $2.96-billion World Bank funding for double-laning of 6,300 km of single-lane highways, out of a total of about 19,000 km single-lane highways in the country.
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