COVID-hit Indian economy to contract 7.7% in 2020-21: Govt estimates
"Real GDP or GDP at Constant Prices (2011-12) in the year 2020-21 is likely to attain a level of Rs 134.40 lakh crore, as against the Provisional Estimate of GDP for the year 2019-20 of Rs 145.66 lakh crore. "The growth in real GDP during 2020-21 is estimated at -7.7 per cent as compared to the growth rate of 4.2 per cent in 2019-20," said the first advanced estimates of national income released by the National Statistical Office (NSO).
Jan 07, 2021, 23:35 PM IST
India, World Bank sign $400 million project to tide over impact of COVID-19
The programme will strengthen the capability of state and national governments in India to provide coordinated and adequate social protection to the poor and vulnerable from the shocks triggered by the COVID-19 pandemic.
Dec 17, 2020, 17:05 PM IST
India and World Bank sign $400 mn project to protect poor and vulnerable from COVID-19 impact
India and the World Bank has signed a $400 million project to support the nation's efforts at providing assistance to those impacted by COVID-19 pandemic.
Dec 17, 2020, 00:15 AM IST
Namami Gange programme gets World Bank's monetary push to rejuvenate the holy river
The World Bank has been supporting the government’s efforts since 2011 through the ongoing National Ganga River Basin Project, which helped set up the National Mission for Clean Ganga as the nodal agency to manage the river, and financed sewage treatment infrastructure in several riverside towns and cities.
Jul 07, 2020, 19:36 PM IST
World Bank approves USD 1 billion to support India's fight against COVID-19
This takes the total commitment from the World Bank towards emergency COVID-19 response in India to USD 2 billion.
May 15, 2020, 11:31 AM IST
IMF, World Bank disburse funds to help countries battle coronavirus COVID-19 pandemic
International Monetary Fund (IMF) and the World Bank are providing emergency funds to developing and low-income countries across the world to strengthen their efforts to battle the rapidly spreading coronavirus.
Apr 18, 2020, 10:56 AM IST
IMF, World Bank call for debt payments suspension of poorest nations hit by coronavirus COVID-19 pandemic
The World bank in a statement said, "The World Bank Group and the IMF believe it is imperative at this moment to provide a global sense of relief for developing countries as well as a strong signal to financial markets."
Mar 25, 2020, 22:39 PM IST
Coronavirus impacts global economy; growth forecast cut, cash flow hit, markets plunge
Many leading world organisations have warned that the deadly coronavirus outbreak could cut global economic growth in half.
Mar 04, 2020, 23:31 PM IST
World Bank announces up to $12 billion in immediate funds for coronavirus
The World Bank on Tuesday announced an initial $12 billion (9.38 billion pounds) in immediate funds to assist countries grappling with the health and economic impacts of the coronavirus virus outbreak that has spread quickly from China to some 80 countries.
Mar 04, 2020, 07:12 AM IST
New World Bank project to arrest country’s depleting groundwater levels, strengthen groundwater institutions
The programme will introduce a bottom-up planning process for community-driven development of water budgets and Water Security Plans (WSPs). Water budgets will assess surface and groundwater conditions (both quantity and quality) and identify current and future needs.
Feb 17, 2020, 22:56 PM IST
World Bank predicts India's GDP growth at 5% in 2019-20
India's gross domestic product (GDP) is expected to register a growth of just 5% in the financial year 2019-20, according to a World Bank report. While the projection for the current financial year is not very good, the report titled January 2020 Global Economic Prospects also states that India's GDP will grow at 5.8% in the next financial year 2020-21.
Jan 09, 2020, 12:30 PM IST
Donald Trump calls for World Bank to stop loaning to China
The World Bank on Thursday adopted a plan to aid China with $1 billion to $1.5 billion in low-interest loans annually through June 2025.
Dec 07, 2019, 10:00 AM IST
Rise in interest rates dependent on growth of India, China: Finance Minister Nirmala Sitharaman
Talking about the IMF and WB meetings, Union Finance Minister Nirmala Sitharaman said the discussions were mostly focused on the economic slowdown.
Oct 20, 2019, 09:38 AM IST
World Bank's Malpass says Brexit deal would reduce some growth uncertainty
World Bank President David Malpass said on Thursday that clarity over Britain`s exit from the European Union would strengthen the outlook for global growth, aiding both rich nations and the developing world.
Oct 17, 2019, 20:03 PM IST
World Bank slashes India's growth forecast to 6% for this fiscal year
The World Bank on Sunday slashed its growth forecast for India`s current fiscal year to 6%, down from 7.5%, warning that the "severe" slowdown could further weaken the country`s stuttering financial sector.
Oct 13, 2019, 18:47 PM IST
Taal Thok Ke: Pakistan faces heat from FATF group over failing to act on terror funding
In a big blow to Pakistan, Islamabad has been given a warning by Financial Action Task Force's (FATF) subgroup Asia Pacific Group APG on failing to meet its commitments on the issue of dealing with the financing of terror.#PakistanKaBlackFriday #PMModiFranceVisit #FATF
Aug 23, 2019, 20:04 PM IST
India, UK to launch coalition for disaster-proof infra at UN
India had announced the creation of a Coalition for Disaster Resilient Infrastructure (CDRI) soon after the Asian Ministerial Conference on Disaster Risk Reduction, held in New Delhi in 2016.
Aug 01, 2019, 15:35 PM IST
Andhra Pradesh capital Amaravati's fate hangs in balance after World Bank, AIIB pull out of project
China-based AIIB on July 23 confirmed that it is not considering the Amaravati Sustainable Infrastructure and Institutional Development Project, barely six days after the World Bank dropped the project.
China led AIIB could overtake ADB as major financier of infra projects:Experts
With China continuing its financial assertiveness across the globe through its various infrastructure projects like the One Belt One Road (OBOR) strategic initiative, the AIIB funding is the logical next step for them, the experts opined.
Jun 13, 2019, 18:06 PM IST
Indian economy grew 7.2% in 2018-19, likely to top at 7.5% in FY19-20: World Bank
The Bank`s Economic Prospects Report released on Tuesday forecast India`s economy to grow by 7.5 per cent during this and the next two fiscal years, retaining its top spot as the fastest growing major economy. It would be helped by a "more accommodative monetary policy" and low inflation, it said.
Jun 05, 2019, 09:36 AM IST