World Bank

  • Fisc consolidation needs to be our mantra for Budget: Basu 16-02-2014 10:40 PM

    In an interview to CNBC-TV18's Latha Venkatesh, Kaushik Basu, chief economist of World Bank spoke about his reading of the global economy and his outlook. Below is a verbatim transcript of the interview: Q: You aren't one of us at this point in time, in a way, as the World...
  • World Bank to invest $2 bn in Myanmar 27-01-2014 01:45 AM

    On his first visit to Myanmar, World Bank President Jim Yong Kim on Sunday announced that the WB Group plans to invest $2 billion in a multi-year development programme for the country, Xinhua reported. The plan will include projects that dramatically improve access to energy and health care for poor...
  • Will good governance make a comeback in 2014? 20-01-2014 11:26 AM

    The cynic would say the question to ask is whether 'governance', not even 'good governance', will make a comeback in 2014. In the last few years reforms have been dead and there has been very little to write home about on most governance fronts. Good governance as a concept has...
  • India's economy growth at over 6 per cent in 2014-15: World Bank 15-01-2014 01:15 PM

    The World Bank has projected India's economy will grow over 6 per cent in 2014-15 and 7.1 per cent by 2016-17 as global demand recovers and domestic investment increases. In China, growth is estimated to stay flat in 2014 at 7.7 per cent, slowing to 7.5 per cent for the...
  • Global economy to grow in 2014: World Bank 15-01-2014 12:53 PM

    The global economy is estimated to expand at 3.2 per cent this year from 2.4 per cent in 2013, with growth picking up in developing countries and high-income economies, the World Bank said. But growth prospects remain vulnerable to US tapering, the global lender said in its semi-annual Global Economic...
  • Bihar puts records of 3.5 lakh teachers of government schools online 27-11-2013 01:01 PM

    Bihar has published the service records of nearly 3.5 lakh teachers at 70,000 government schools online, officials on Wednesday said. "It is a first such move to put service records of 3.42 lakh teachers of primary and middle schools online," said RS Singh, an official of education department. He said...
  • India's corporate tax rates among highest globally: World Bank 26-11-2013 03:21 PM

    Tax rates for companies in India are among the highest in the world and the number of payments is also more than the global average, putting the country at a low 158th rank on the 'Paying Taxes 2014' list. However, the time taken for tax payments is relatively less in...
  • 53 per cent of Indian households defecate in open: World Bank 19-11-2013 01:50 PM

    With over 600 million people in India or 53 per cent of Indian households defecating in the open, absence of toilet or latrine is one of the important contributors to malnutrition, a World Bank report has said. The report that was released on Monday on the eve of the first...
  • Easiest to start business in Delhi, says World Bank 30-10-2013 02:37 PM

    It is easiest to start a business in New Delhi within India, while Hyderabad is the fastest for closing an enterprise, says World Bank study. On the other hand, Kolkata is the toughest place for closing a business among 17 cities, while Bengaluru requires the maximum efforts to start a...
  • India slips to 134th spot in ease of doing business list: World Bank 29-10-2013 03:25 PM

    India has slipped three positions to 134th spot in the latest ease-of-doing business list, which is topped by Singapore, according to World Bank. In the 'Ease of Doing Business' ranking of 189 economies, India has dropped from 131 spot last year while Singapore continues to remain at the top. Singapore...
  • World Bank approves $250 mn for Uttarakhand relief work 26-10-2013 05:06 PM

    The World Bank has approved USD 250 million assistance for Uttarakhand, which was hit hard in June by rains and landslides that killed 580 people, to help the state undertake rehabilitation work and strengthen its capacity for disaster management. "In order to respond in a timely manner, the project was...
  • World Bank offers $360m loan for UP water projects 25-10-2013 04:59 PM

    The World Bank will provide a $360 million loan for restructuring of water sector projects in Uttar Pradesh. Nilaya Mitash, a joint secretary in the Department of Economic Affairs in the union finance ministry on behalf of the Government of India and Onno Ruhl, country director, World Bank on behalf...
  • World Bank slashes India growth forecast to 4.7 pc in 2013/14 16-10-2013 05:45 PM

    New Delhi: The World Bank sharply lowered its forecast for India's economic growth to 4.7 percent from 6.1 percent for the current fiscal year, citing a sharp slowdown in manufacturing and investment as well as negative business confidence. In a report released on Wednesday, the bank said 'high headline inflation,...
  • World Bank chief expresses concerns over cyclone Phailin 13-10-2013 08:23 AM

    Washington: The World Bank chief has expressed concern over the landfall of cyclone Phailin, stating that his thoughts go out to all those living in its path. "I'd like to express our concern about reports in eastern India where Cyclone Phailin has made landfall," World Bank President Jim Young Kim...
  • Chidambaram to arrive in US today for World Bank annual meeting, likely to discuss tax issues 09-10-2013 08:50 AM

    US Treasury Secretary Jacob Lew is likely to raise issues of taxation and deepening collaboration on combating illicit financial activity with Finance Minister P Chidambaram, who arrives in US on Wednesday to attend the IMF/World Bank annual meetings. Lew will host Chidambaram on October 13 for the fourth annual meeting...
  • P Chidambaram visits US, to woo investors 08-10-2013 08:15 PM

    New Delhi, Oct 8 (IANS)Finance Minister P Chidambaram will be on a week's visit to the US beginning Wednesday to woo foreign investors and attend the annual meeting of the World Bank and the International Monetary Fund. According to a finance ministry statement here, Chidambaram will attend annual plenary meetings...
  • IMF lowers India's growth projections to 3.8 percent 08-10-2013 06:47 PM

    Washington:With the world economy entering yet another transition, the International Monetary Fund (IMF) expects India to grow at around 3.8 percent in fiscal 2013, about 1.8 percentage points lower than its July projection. For fiscal year 2014, growth is projected to accelerate somewhat to 5 percent, again 1.1 percentage points...
  • Cheap razor made after P&G observes men shaving in rural India 06-10-2013 12:28 PM

    Procter & Gamble executives say it was striking the first time they witnessed a man shave while sitting barefoot on the floor in a tiny hut in India. He had no electricity, no running water and no mirror. The 20 US-based executives observed the man in 2008 during one of...
  • India to be world's most populous nation by 2050: study 02-10-2013 01:34 PM

    India will overtake China as the world's most populous country by 2050, according to a new French study which predicts the global population to surge to 9.7 billion people by the middle of the century. The report by the French Institute of Demographic Studies (INED), predicts India will take the...
  • World Bank to prepare blueprint for three UP growth clusters 21-09-2013 02:49 PM

    The World Bank has agreed to prepare a blueprint for the three regional growth clusters proposed in Uttar Pradesh on the Eastern Dedicated Freight Corridor (EDFC), Principal Secretary (Industrial and Infrastructure Development) Surya Pratap Singh said on Saturday. The proposed regions are Auraiya-Kannauj-Kanpur, including Kanpur Dehat; Allahabad-Varanasi, including Kaushambi and...
  • World Bank blueprint for Uttar Pradesh growth clusters 21-09-2013 02:27 PM

    The World Bank has agreed to prepare a blueprint for the three regional growth clusters proposed in Uttar Pradesh on the Eastern Dedicated Freight Corridor (EDFC), Principal Secretary (Industrial and Infrastructure Development) Surya Pratap Singh said on Saturday. The proposed regions are Auraiya-Kannauj-Kanpur, including Kanpur Dehat; Allahabad-Varanasi, including Kaushambi and...
  • Indian campaigner seeks US support against sex selection 11-09-2013 01:05 PM

    Washington: An Indian campaigner wants the US government ban Internet companies like Google from advertising and legitimising new technologies of sex selection in India. "Sex selection tourism is worse than trafficking," Sabu M George, a member of India's Campaign Against Sex Selection, told a House panel on Tuesday accusing Google...
  • Manmohan Singh tells G20 not to restrict movement of labour 06-09-2013 05:16 PM

    Indian Prime Minister Manmohan Singh said on Friday the movement of labour should be free across nations without restrictions as it can otherwise stifle growth. In a short intervention at the second working session of the G20 Summit in St. Petersburg, the Prime Minister also emphasised on skill development in...
  • MFN-status to India not on table, says Pakistan's FM 31-08-2013 05:40 PM

    Granting MFN-status to India is not on the table "for the time being" as Pakistan's "own interests have to be defended first", Finance Minister Ishaq Dar has said. The remarks by Dar, a close aide of Prime Minister Nawaz Sharif, came within days of the World Bank saying in a...
  • Next 18 months tough for global economy: World Bank chief economist 19-08-2013 08:36 AM

    New Delhi: All eyes are on the markets after Friday's meltdown. It remains to be seen whether the Sensex will rebound on Monday after its worst fall in four years. World Bank chief economist Kaushik Basu has warned that the next year and a half will be tough for India...
  • Kerala is a model of development in India: Santosh Mehrotra 13-08-2013 05:37 PM

    According to the world bank almost 70 per cent of Indians live on about Rs 120 a day. Are we losing or winning the war against poverty? Santosh Mehrotra, Director General of Institute of Applied Manpower Research, joined IBNLive readers for an interaction on the issue. Q. I think we...
  • State of The Nation: Are we losing or winning the war against poverty? 12-08-2013 11:58 PM

    This Thursday is the 15th of August and in this 67th Independence Day week CNN-IBN is bringing you State Of the Nation focusing on whether there is anything to celebrate about Independence Day this year. ...
  • World Bank debars Indian firm for corruption in road project 03-08-2013 10:57 PM

    Washington: The World Bank has debarred Consulting Engineering Services (India) for five years on charges of fraud and corruption in an NH project in India. The decision follows a World Bank investigation and review of poorly performing road construction contracts under the bank-financed project, for which CES was the supervision...
  • Govt to seek aid from World Bank, ADB to rebuild U'khand 01-07-2013 05:28 PM

    New Delhi: The government will seek financial aid from multilateral bodies like World Bank and Asian Development Bank for reconstruction and rehabilitation in flood-ravaged Uttarakhand, Finance Minister P Chidambaram said on Monday. He said funds will not be a constraint for rebuilding the mountainous state which had witnessed the worst...