Of this $2 billion is Banking Sector Support Loan, which will provide budgetary support to India, helping it maintain its broad economic stimulus program by enhancing the capital of select public sector banks.
Onno Ruhl said it is imperative to have a favourable global environment in addition to the domestic advantages.
The package comprises three projects that will aim to improve the state's road network (with an allocation of $250 million or Rs 1,225 crore), its agricultural tank systems ($112 or Rs 548 crore) and increase livelihood opportunities for its rural poor ($82.4 million or Rs 404 crore).
More and more women are making their presence felt in jobs related to sciences, technology, and engineering across organisations.
Jawaharlal Nehru Port Trust will raise Rs 450 crore (Rs 4.50 billion) to pre-pay high interest World Bank loan, the Lok Sabha was informed on Wednesday.
Saris were in vogue at the dinner President Droupadi Murmu hosted for G20 leaders on Saturday evening and earlier as well on Saturday morninbg when Kyoko Jaishankar, External Affairs Minister Subrahmanyam Jaishankar's wife, hosted the leaders's spouses in New Delhi.
She said that earlier governments used to sell dreams to people while the present regime is fulfilling the dreams.
India, President of the G20, will host global leaders for the Summit scheduled to take place on September 9 and 10 in New Delhi.
India's role as a leader of the global south may require it to give up its ambition to serve as a bridge between the warring halves of the international community, points out Mihir S Sharma.
The Reserve Bank on Thursday marginally revised upwards the economic growth projection for the current fiscal to 6.5 per cent, from its earlier estimate of 6.4 per cent. Unveiling the first bi-monthly monetary policy of 2023-24 fiscal, RBI Governor Shaktikanta Das said the GDP growth in the first quarter of 2023-24 is expected at 7.8 per cent.
They welcomed the guests before the start of the dinner from the reception dais, with its backdrop showcasing the ruins of the Nalanda University in Bihar besides India's G20 presidency theme -- 'Vasudhaiva Kutumbakam - One Earth, One Family, One Future'.
The challenge for the RBI in 2024 is likely to be less about containing elevated inflation and more about curbing excessive financial market exuberance and a 'problem of plenty', notes Sajjid Chinoy, Chief India Economist JP Morgan.
While the economy seems to be on a firm growth path, the fight against inflation is not over yet. Shaktikanta Das seems to be in no hurry. After playing well through a five-year Test match, he doesn't want to get out hit wicket, observes Tamal Bandyopadhyay.
The sources said India has always been a steadfast supporter and a responsible partner in implementing the IWT in letter and spirit.
United States President Joe Biden will travel to India from September 7 to 10 to attend the G-20 Leaders' Summit during which he will discuss with other leaders a range of global challenges, including the Ukraine conflict, the White House announced on Tuesday.
In a significant development, India is believed to have placed a funding request of around $55 million in its first call with the Pandemic Fund of the World Bank, sources said. The fund has been set up to finance critical investments in a bid to strengthen pandemic prevention, preparedness, and response capacities at national, regional, and global levels, with a focus on low- and middle-income countries. It was created in the aftermath of the Covid-19 global pandemic.
Nearly a third of an average Indian citizen's consumption budget is spent on food.
Is it a case of poor targeting of a welfare scheme, or is it a reflection of the government's desire to expand the scope of this benefit to secure greater electoral dividends? asks A K Bhattacharya.
Commodity investments can help you diversify your portfolio in asset classes other than equity and debt, says Dwaipayan Bose.
Balakrishnan, a full professor in the economics department who joined the private university in 2015, on Saturday wrote to Ashoka University Chancellor Rudrangshu Mukherjee and board of trustees chairperson Pramath Raj Sinha explaining his reasons for his resignation.
The Reserve Bank on Wednesday marginally lowered the country's GDP growth projection for the current fiscal at 6.8 per cent from its earlier estimate of 7 per cent. However, despite the downward revision in the economic growth projection, India will remain among the fastest growing major economies in the world, said RBI Governor Shaktikanta Das while announcing the latest bi-monthly monetary policy.
The African Union on Saturday joined the G20 after all member countries accepted Prime Minister Narendra Modi's proposal to bring the key bloc of the Global South to the high table of the world's top economies, a major diplomatic achievement of India's presidency.
Is Chandrababu Naidu being in jail an opportunity? How will the TDP capitalise on it? Or will it implode with nothing more than a sigh?
Modi's BJP has promised more revdis or freebies for these assembly elections than ever before, points out N Sathiya Moorthy.
'...to bring the Global South and others to the negotiating table on the basis of Gandhi's non-violence so that we can leave a safer world for our children.'
The biggest question looming over the summit is whether there will be a joint leaders' declaration in view of the sharp differences between the West and the Russia-China combine on the text to describe the Ukraine conflict in the document.
China has signalled that it will prevent India from assuming leadership of the Global South, observes Ambassador T P Sreenivasan.
An improvement in political relations, anchored in a restoration of peace and tranquillity at the border, could open up opportunities for expanded economic and commercial relations between them, suggests former foreign secretary Ambassador Shyam Saran.
India's exports contracted by 22 per cent, the steepest decline in the last three years, to $32.97 billion in June on account of global demand slowdown, especially in the Western markets like the US and Europe. According to the data of the commerce ministry, the trade deficit in June stood at $20.3 billion against $22.07 billion in the same month last year due to a fall in exports and imports. The inbound shipments during the month under review declined by a steep 17.48 per cent to $53.10 billion.
'With his envious academic record, extraordinary research calibre and unparalleled work experience, we can trust him to become the first Indian -- fully Indian, not one of those Americans of Indian origin -- to win the Nobel Prize in Economics,' says Sudhir Bisht.
What some of our leaders were up to on Tuesday and Wednesday.
'With a solid investment programme and sustainable development strategy, India can exceed 7 per cent growth per year, or a doubling of high-quality national income within a decade.'
India's national security focus has shifted from the western border to the eastern one. But our trade with China keeps rising. This trade is against our interest, because most of it comprises of Chinese imports, argues Aakar Patel.
As India's stock rises, the resolution of the border row may become even more difficult, warn Harsh V Pant and Kalpit Mankikar.
Prime Minister Narendra Modi on Sunday made a fresh push for reforms in global institutions, including the United Nations, asserting that the world's 'new realities' should be reflected in 'new global structure' as it is nature's law that those who don't change with times lose their relevance.
'There's no pro-China tilt in BRICS.' 'All these countries want to be close to China, but they are all good friends of India also.'
Amid rising geopolitical risks, a vast majority of Indian CEOs have indicated in a survey that they are reducing or planning to reduce operating costs, even as they are more upbeat than their global peers on their country's economic prospects. However, most of the companies do not plan to cut their headcount or salaries, found the annual Global CEO Survey released by consultancy giant PwC here on the first day of the World Economic Forum meeting on Monday. The survey also found that about four in ten CEOs (40 per cent of global and 41 per cent of India respondents) do not expect their companies to be economically viable in 10 years if they continue on their current path.
The Reserve Bank of India on Wednesday retained its growth projection at 7.2 per cent for the current fiscal on the back of improvement in urban demand and gradual recovery in rural India. Unveiling the third monetary policy for the current fiscal, RBI Governor Shaktikanta Das said the Indian economy remained resilient, and the central bank will continue to support growth. The RBI expects growth in the first quarter of the current fiscal at 16.2 per cent, which will taper to 4 per cent by the fourth quarter.
Pakistan has responded to a letter by India asking to start negotiations for the review of the Indus Water Treaty, the foreign office said on Wednesday.
