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'.
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.
Temperatures in 17 locations breached 45 degrees Celsius on Monday, with the punishing heat affecting health and livelihoods.
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.
The annual conference of the World Bank and International Monetary Fund where India was represented by Finance Minister P Chidambaram
IndiaCo, a Pune-based equity investment firm, on Wednesday, said that it has received approval for $800,000 programme from the World Bank to improve its incubation and innovation centre and support upcoming companies in India and abroad.\n\n\n\n
World Bank customarily withdraws fund for a project that has not been built in seven years.
Three days after the World Bank decided to ban it for eight years, Satyam Computer Services today hit back and demanded an apology from the bank for "certain inappropriate statements" made by its representatives.
The World Bank on Tuesday said that India could achieve eight per cent economic growth, provided the government stepped up reforms, including measures to contain fiscal deficit and wasteful subsidies.
Better learning for all students worldwide is vital because economic growth, better development, and significantly less poverty depend on the knowledge and skills that people gain, not the years spent in a classroom, it said while launching its education strategy for the next decade.
Independence Day was celebrated across states and Union territories on Thursday, as several chief ministers announced job schemes while some others vowed their support for Prime Minister Narendra Modi's vision of a Viksit Bharat by 2047.
The bulk loan offered to India is for developing its infrastructure projects and to achieve the millennium development goals. Further, part of the loan would be spent in the seven low-income states -- Bihar, Chhattisgarh, Jharkhand, Madhya Pradesh, Orissa, Rajasthan, and Uttar Pradesh -- to support the poverty reduction programmes.
The revised projection comes after a 17% rise in the April-June.
Optimistic of India sustaining 8.0 per cent GDP growth, World Bank on Friday indicated that it will step up assistance to the country next fiscal from close to $2.0 billion this fiscal.
Concerned over terror funding, the World Bank and the IMF have launched an intense programme using a comprehensive methodology involving 75 client countries to identify the means of formal and information remittances used for money laundering.
Wipro had denied allegations of providing improper benefits to Bank staff.
The World Bank on Friday indicated that it will double its lending to India to $2.5-3.0 billion annually within 2-3 years, and said it plans to raise $100 million from the domestic market through bonds.
According to the finance minister, India was compliant with most of the internationally accepted standards in banking, securities markets and insurance sector.
While edging up China's gross domestic product growth projection for both 2010 and 2011, the report said that growth in domestic demand would remain strong although exports could suffer from a predicted global economic slowdown next year.
The expert overruled Pakistan's other technical objections.
The Maharashtra government, which is finding difficult to get investors for irrigation projects in the state, has now decided to rope in the International Finance Corporation (IFC), World Bank's lending arm for the private sector.
Emerging markets facing 5th year of slow growth: World Bank.
World Bank is likely to give Mumbai projects Rs 275 crore less, in wake of the appreciation of rupee against the dollar.
A World Bank team and experts from the US will visit the floods-affected areas on Saturday to discuss financial assistance and other help to rebuild the infrastructure.
"Oil prices are not going to come down. The era of cheap food is over and prices are likely to remain high for at least the next 10 years," World Bank South Asia Region Vice-President Praful Patel told PTI. He said the current situation has 'caught the whole world by surprise' and the crisis was due to a combination of factors, he said.
Implementation of the VAT regime, strongly favoured by the Kelkar committee on tax reforms, has been hanging fire since April this year.
World Bank has predicted a downward trend for India's GDP in 2008. China to follow too.
The report, Doing Business in India 2009, took into account 17 states in the\ncountry and noted that Hyderabad and Bhubaneshwar are the two nodal locations\nsuitable for opening and operating business easily.
Empathising with Indian exporters hit by a rising rupee, the World Bank on Monday said government should look at options beyond tax sops to raise productivity and make the industry globally competitive.
