Page 20 - World Bank

Pace of remittance inflows has slowed for India in the past decade

Cash transfers increased in absolute terms but the rate of growth decelerated

World Bank sees India growth slowing to 6.6% next fiscal from expected 6.9%

India's economic growth rate will slow to 6.6 per cent in next financial year from an expected 6.9 per cent in 2022-23, the World Bank said in its latest economic update. India however is expected to be the fastest growing economy of the seven largest emerging-market and developing economies (EMDEs), it said. The growth rate of 6.9 per cent in current fiscal year (April 2022 to March 2023) compares with 8.7 per cent in the previous year. For 2024-25, the growth rate is projected at 6.1 per cent. "The slowdown in the global economy and rising uncertainty will weigh on export and investment growth," it said. The government has increased infrastructure spending and various business facilitation measures. However, it will crowd-in private investment and support the expansion of manufacturing capacity. "Growth is projected to slow, to 6.6 per cent in FY2023/24 before falling back toward its potential rate of just above 6 per cent," it said. The GDP expanded by 9.7 per cent on an annua

World Bank slashes Pakistan GDP growth projection to 2% as crisis worsens

Pakistan's economic condition is precarious with low foreign exchange reserves and large fiscal and current account deficits, has further worsened by severe flooding

Top headlines: World Bank cuts economic growth forecast, DESH Bill deadlock

Business Standard brings you the top headlines at this hour

Indian economy to grow at a robust 6.6% in FY24, says World Bank

'Limited spillovers' to Asia's third-largest economy, even as world 'perilously close' to recession

World Bank cuts 2023 economic growth forecasts, warns of global recession

Spillovers from a period of pronounced weakness in the US, China and the European Union are exacerbating other headwinds faced by poorer nations

Freebie culture hurting economic growth, must end: L&T chairman A M Naik

Developing infrastructure should be the govt's top priority, says L&T chairman

Top Headlines: India's GDP may grow 7% in FY23, forex reserves up by $44 mn

Business Standard brings you the top headlines at this hour

World stocks soar, investors pare rate bets after US jobs data

Wall Street sparked a global rally in stocks on Friday after a crucial US jobs report showed wage growth slowed in December, fueling investor bets that inflation is easing

World Bank grants $8.86 mn to improve Lebanon's solid waste management

The aid will be financed by the Global Environment Facility, a multilateral funder of green endeavours in developing countries which comprises UN affiliates and national entities

Word Bank approves $1.69 bn to support people in flood-affected Pakistan

The World Bank on Tuesday approved USD 1.692 billion in financing for five projects to support people living in flood-affected areas of cash-strapped Pakistan's Sindh province, according to a media report. Pakistan witnessed unprecedented monsoon rains over the summer that put a third of the country underwater, damaged two million homes, and killed more than 1,700 people. Out of the projects announced by the World Bank on Tuesday, three support rehabilitation, housing reconstruction, and the restoration of crop production for vulnerable communities, while the two projects support health services for mothers and children, Dawn reported, citing a statement issued by the global lender. It said that Sindh was the province worst affected by the 2022 floods as there was huge damage to the housing, health, and agriculture sectors and people lost their livelihoods. "Beyond the rehabilitation and reconstruction of damaged houses and infrastructure, our engagement in the flood response effor

685 million could be living in extreme poverty by 2022-end: World Bank

733 million people currently have no access to electricity and by 2030, 670 million people will remain without it, says World Bank's latest report

High regulatory burden, taxes keep cars out of reach of Indians: Automaker

The levies by the Indian govt have made purchasing vehicles expensive for the population, said RC Bhargava, Maruti Suzuki's chairman

India needs to change course to curb air pollution: World Bank study

Terming air pollution as a public health crisis for South Asia, the report highlights that this crisis not only imposes high economic costs but also cause nearly 2 million premature deaths each year

G20 mulls converting its global infra hub into a multilateral body

Currently, the GIH's work is limited to acting as a knowledge sharing hub, to produce data and insights that inform policy and infrastructure delivery

There's broad support for India's agenda at G20 meeting, says DEA secy

The FCBD meeting is setting the agenda for the meeting of G20 finance ministers and central bank governors, scheduled to be held in Bengaluru in February

Pakistan's external debt stocks in 2021 stood at $130 billion: World Bank

The World Bank has estimated Pakistan's total external debt stocks stood at $130.433 billion by end-2021 in comparison to $115.695 by the end-2020

Extreme heat waves may break human survivability limit in India: World Bank

Soon India may become one of the first places in the world to experience heat waves that break the human survivability limit, a World Bank report said

Remarkably resilient: World Bank ups FY23 India growth forecast to 6.9%

Says strong macro fundamentals place country in good stead

India better placed than emerging nations to face headwinds: World Bank

Asia's third-largest economy, which expanded 6.3% in the July-September quarter, is estimated to grow 6.8-7% in the current 2022/23 fiscal year