India attracted a major chunk of the record $40.1 billion capital that flowed into South Asia in 2006, but restrictive policies could stunt investment growth leading to slower economic expansion, the World Bank warned in a report.
The new project will concentrate on the states of Himachal Pradesh, Jharkhand, Meghalaya, Punjab, Rajasthan, Uttarakhand, and Uttar Pradesh, the Bank said.
World Bank President Robert B. Zoellick will visit Bihar on January 10, 2011, officials said on Tuesday.
The Bank had predicted that China's GDP growth would slow to 8.7 per cent in 2011 in its last quarterly report released last November.
If the Bank's numbers are wide of the mark, they will make a difference to the poverty debate.
The outcome of the Doha trade round is more important to poor countries' economies than the US-led war with Iraq, World Bank President James Wolfensohn said on Monday.
In April, the World Bank had projected India's GDP would grow at 6.1 per cent in the current financial year and at 6.7 per cent the following year.
The executive directors of the World Bank unanimously selected Robert B Zoellick to succeed Paul Wolfowitz, effective July 1, 2007, as the 11th President of the Bank for a five-year term.
The rankings are based on 10 indicators of business regulation that track the time and cost to meet government requirements in business start-up,operation, trade, taxation, and closure.
Making a case for India to relax labour laws, World Bank has said such a move can generate more than eight lakh regular jobs in the manufacturing sector.
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.
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.
Seven World Bank-sponsored projects, worth about Rs 22,426 crore (Rs 224.26 billion), are being implemented across the country to improve delivery in centrally-funded schemes and meet other objectives, the government said on Wednesday.
The World Bank has decided to extend an additional soft loan of $ 1.05 billion (Rs 4,772 crore) to the government to improve the quality of education under two major schemes on elementary and technical education.
Global growth should have a large impact on the poor, says World Bank.
Contradicting Pakistan's claims that India has a higher tariff regime, a World Bank report has said Islamabad's tariffs were 10 per cent higher than that of New Delhi and has asked it to reduce the same through a unified trade liberalisation policy.
Weak exports and lower investment growth will cut down China's GDP growth, the World Bank said.
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.
World Bank President Robert Zoellick on Friday said India is likely to return to high growth of 8 to 9 per cent in a year or two, helped by strong fiscal and monetary actions to counter the global financial crisis.
"We can no longer rely on the US consumer to sustain global growth. We need multiple poles of growth," Zoellick told reporters at a news conference in Beijing.
India will be pushing for greater capitalisation of the World Bank at the meeting of G20 finance ministers in London next month. The meeting will precede the Pittsburgh meeting of G20 head of states scheduled later in September.
According to the report, the global economy is projected to strengthen this year, with growth picking up in developing countries.
'We wrote to the bank a few weeks ago. We don't expect an immediate response as these things take time but we disagree with the claims they've made,' Australian IT quoted Tech Mahindra executive vice-chairman Vineet Nayyar as saying in Sydney. Satyam was blacklisted last September and a month later was forced to deny reports that its contractors had installed spy software on World Bank computers.
The Biodiversity Conservation and Rural Livelihood Improvement Project will conserve biodiversity, while improving rural livelihoods by applying culturally appropriate and tested participatory approaches to support opportunities for improving rural livelihoods, the Bank said in a statement.
World Bank expects India to absorb the oil price shocks and remain unaffected from the depreciation of the US dollar against the rupee.
Lula da Silva congratulated Modi and thanked India for its efforts to give voice to the topics of interest to emerging economies.
As many as 36,000 rural youth have been issued job offer letters during the past eight months by various companies, from manufacturing to service, courtesy a World Bank sponsored scheme District Poverty Initiative Project. Since the placement agencies do not offer services in the non-skilled labour segment, companies hire non-skilled workers through references and relatives of the existing workforce.
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.
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.
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.
China's new leadership headed by Xi ruled out massive stimulus similar to the one in 2008 which amounted to $645 billion to tide over the global economic crisis.
East Asia's emerging economies are projected to grow by 6 per cent this year as policy makers face the delicate challenge of responding to a reduced pace of global trade expansion, the World Bank said on Wednesday.
As per official estimates, the Indian economy is likely to expand 6.9 per cent in the current fiscal, much lower than 9 per cent projected during the 2011-12 Budget.
"Despite a booming economy, India's growth potential is constrained by inadequate electricity services and limited power generation and supply infrastructure... The power sector has improved in recent years, albeit in an environment where demand for electricity continues to outstrip supply," the bank said. The Bank has made three direct loans to Power Grid since 1993.
India's private and state government-owned ports (non-major ports) continued to grow faster than those owned by the Centre (major ports) through the first three quarters of 2023-24 (FY24), cargo handling data shows. At 604 million metric tonnes (mmt), cargo at major ports grew by 5 per cent between April and December, while non-major ports' cargo traffic growth was 11 per cent at 531 mmt. During December 2023, central government-owned ports in India handled cargo volumes of 69.9 mmt, a tepid year-on-year (Y-o-Y) growth of 0.7 per cent.
