The World Bank and The International Monetary Fund concluded their annual spring meeting here by increasing the voting rights of India, China and Brazil, among others, thus giving them more say in the institutions' functioning.
World Bank on Tuesday resumed lending to three health projects in India amounting to $662 million (about Rs 2,9.79 billion), which were discontinued for more than a year.
Rejecting World Bank's warning of growth and fiscal slippages, the government said on Monday that the banks prediction that India needs major reforms thrust to achieve eight per cent growth was indeed unfortunate.
The World Bank on Monday said hardening interest rates and a surge in oil prices worldwide will have only a marginal impact on India's economy and the country would continue to witness high GDP growth.
India may be 15th among the top 25 Artificial Intelligence nations, but it has the 'the greatest upward potential' according to research by Tufts University's business school, the Fletcher School. At the top is the US, followed by China, fighting for global leadership in AI followed by the UK, Japan, and Germany. In the 15th spot, India is ahead of Brazil, Argentina, Indonesia, Mexico, Turkey, Indonesia and Thailand.
India's Railways has struggled to expand to keep up with demand
The World Bank has expressed concern over rising healthcare costs world wide while countries are struggling to cope with HIV/AIDS crisis and bird flu pandemic.
In its latest report, the Bank has lowered its forecasts for developing countries, now eying growth at 4.8 per cent this year, down from its January estimate of 5.3 per cent.
Lula da Silva congratulated Modi and thanked India for its efforts to give voice to the topics of interest to emerging economies.
The World Bank on Wednesday lowered its economic growth forecast for China this year to 6.5 per cent, down from 7.5 per cent at the end of last November, after huge falls in exports and shrinking private sector investment.
The president of République Française needed to attend the inaugural game of the rugby World Cup at the Stade de France in Paris on Friday night.
With the backdrop of the famous wheel from the Konark Sun temple in Odisha, Prime Minister Narendra D Modi welcomed G20 leaders at the Bharat Mandapam, venue of the G20 Summit in New Delhi, on Saturday, September 9, 2023.
'Das is friendly, but he finally does what he does. The quality of engagement is very good.'
The World Bank has sounded a note of caution on the global economy, which it says has reached a turning point with a slowdown that has already begun.
Investors believe Indian is a tough place to do business with.
Current President Robert Zoellick, who took office in July 2007, is schedule to retire in June.
Moody's Investors Service on Thursday said India is likely continue to face challenges in raising longer-term growth potential and creating enough jobs for its young population in the absence of higher trade openness. In its report on South Asia sovereigns, Moody's said compared with other South Asian economies, India appears to be in a better position to deepen its integration in global value chains, attract FDI and increase exports. The country has better macroeconomic fundamentals, more stable politics and a more developed export sector.
World Bank President Robert Zoellick on Friday called on Prime Minister Manmohan Singh and discussed funding for the changing needs of the country.
Kim, 52, will take over at the beginning of July, after the current president, Robert B Zoellick, steps down at the end of his five-year term.
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.
Contradicting the International Monetary Fund, which does not want India and other countries to use any of its foreign exchange reserves for building infrastructure
The road transport ministry has asked the National Highways Authority of India (NHAI) to ascertain the findings of a report by the World Bank's Institutional Integrity Unit. According to the report, contractors paid bribes and gifts to influence the actions of NHAI officials and consultants.
"We have sought assistance from World Bank for 37,000 km of roads as we plan to take up work on these projects soon," Road Minister C P Joshi told reporters after a meeting with a World Bank delegation, headed by its South Asia Region Vice President Isabel Guerrero.
New norms to keep Raghuram Rajan out of the race.
In its report 'Global Economic Prospects 2010' the World Bank has said: 'Global GDP, which declined by 2.2 per cent in 2009, is expected to grow 2.7 per cent this year and 3.2 per cent in 2011'.
Megasoft became the third Indian software vendor to have attracted the World Bank's ire, while Nestor Pharmaceuticals and Gap International were non-IT entities.
At a seminar on 'Corporate Governance: Trends in India', the World Bank Country Director, Michael Carter said that despite putting in place a series of legal and regulatory reforms, implementation was an area of concern.\n\n\n\n
Figures of people living below the poverty line in India was being fudged by international agencies like the World Bank to paint a grim picture of the Indian economy, Planning Commission Member N K Singh said on Monday.
The World Bank on Tuesday favoured opening up of the retail sector to foreign direct investment for speedy integration of India with the global economy.
The economy may grow by around 7 per cent this financial year as estimated by the Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI), say economists with various organisations. The first advance estimates for 2023-24 will be released on Friday by the National Statistical Organisation (NSO), an exercise done for calculating ratios such as the fiscal deficit. The interim Budget will be presented on February 1.
The annual conference of the World Bank and International Monetary Fund where India was represented by Finance Minister P Chidambaram
From the landing of Chandrayaan 3 to the bombardment of Palestine by Israel, a look at some events that shaped the world in the second half of 2023.
World Bank customarily withdraws fund for a project that has not been built in seven years.
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