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.
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.
A report stated that despite initial setbacks from demonetisation and Goods and Services Tax, "all in all" the Indian economy has done well.
Emerging markets facing 5th year of slow growth: World Bank.
Wipro had denied allegations of providing improper benefits to Bank staff.
Lula da Silva congratulated Modi and thanked India for its efforts to give voice to the topics of interest to emerging economies.
According to the finance minister, India was compliant with most of the internationally accepted standards in banking, securities markets and insurance sector.
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.
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.
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.
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.
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.
"Growth is expected to moderate gradually in China... pick up in India, and remain broadly stable in the Asean-5 region."
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 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.
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.
The expert overruled Pakistan's other technical objections.
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.
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.
World Bank has predicted a downward trend for India's GDP in 2008. China to follow too.
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.
'Das is friendly, but he finally does what he does. The quality of engagement is very good.'
The additional finance will also help the government focus on improving the quality of water supply.
Implementation of the VAT regime, strongly favoured by the Kelkar committee on tax reforms, has been hanging fire since April this year.
The World Bank has praised India for its rapid economic growth but was critical of the country's labour laws, caste system, gender inequality and imperfections in capital market that were widening inequality.
India on Thursday said it cannot be compelled to participate in "illegal" proceedings at the Permanent Court of Arbitration over the Kishenganga and Ratle hydropower projects in Kashmir after The Hague-based tribunal ruled that it has the "competence" to consider the dispute between New Delhi and Islamabad on the matter.
Pakistan will get a whopping $6.2 billion aid from the World Bank in the next three years to come out of the current economic crisis, reduce poverty and improve the fragile security situation in the country.
The United States has a moral and national interest in helping poor and struggling countries transform themselves into free and hopeful societies, Bush said.
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.
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.
'When one was with Mother, one realised you were with somebody who was the nearest person to God.' 'She must have been God incarnate.'
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