Page 3 - World Bank

Pakistan faces 44.7% poverty while neighbours progress, reveals World Bank

Neighbouring countries like China, Bangladesh, and Nepal have managed to make meaningful progress in poverty alleviation through targeted strategies, industrial growth, and social reforms

Gaps in data gathering understate actual levels of inequality in India

According to the Household Consumption Expenditure Survey (HCES) 2022-23, inequality in consumption did decline

Congress slams govt assertion on India being among 'most equal' countries

The Congress on Monday termed as "fraudulent" and "intellectually dishonest" the government's assertion that India is among the world's most equal countries, and said the Modi government cannot simply wish away the stark reality of deepening inequalities by "doctoring data". The opposition party's attack came after an official release, citing World Bank data, said inequality in India has come down significantly between 2011-12 and 2022-23, making it the fourth-most equal country globally. The Congress demanded that the Press Information Bureau (PIB) must clarify as to the origins of this press release and retract it immediately. Congress general secretary in-charge communications Jairam Ramesh said, "Aap chronology samajhiye. The World Bank released its Poverty and Equity Brief for India in April 2025. Immediately after, the Congress released a statement identifying the several warning signs that the World Bank had flashed for poverty and inequality in India - including warnings abo

High equality ranking for India masks deeper gaps, say economists

According to the World Bank, India's Gini Index stands at 25.5, making it the fourth most equal country in the world, after the Slovak Republic, Slovenia and Belarus

Govt says India ranks 4th in income equality on World Bank database

India's Gini Index score of 25.5 places it among the world's most equal societies, ahead of China and the US, reflecting shared growth and effective poverty reduction efforts

World Bank approves over $1 bn for infra projects in Iraq, Syria, Lebanon

The World Bank said on Wednesday it approved over USD 1 billion dollars for infrastructure and reconstruction projects in Iraq, Syria and Lebanon. The biggest amount went to Iraq, where the World Bank approved USD 930 million to help improve the country's railway infrastructure, boost domestic trade, create jobs and diversify the economy. The World Bank said the Iraq Railways Extension and Modernisation Project will improve services and increase freight capacity between the Umm Qasr Port on the Persian gulf in southern Iraq to the northern city of Mosul. As Iraq shifts from reconstruction to development, enhanced trade and connectivity can stimulate growth, create jobs, and reduce oil dependency," said Jean-Christophe Carret, director of the World Bank's Middle East division. The World Bank also approved for war-torn Syria a USD 146 million grant to help restore reliable, affordable electricity and support the country's economic recovery. It said the Syria Electricity Emergency ...

Viksit Bharat by 2047 goal: Are we on track for tech advancement?

Public support for innovation must shift towards radical improvements in higher education and financial support for startups and new innovators

ADB, World Bank clear $1.5 bn loans to Bangladesh for reforms, climate push

The Asian Development Bank and the World Bank have approved loans worth USD 1.5 billion to help Bangladesh reform its banking sector, fight climate change among other projects, according to a media report on Friday. The Asian Development Bank (ADB) approved a USD 900 million loan, of which USD 500 million will support efforts to stabilise and reform the country's banking sector, while the remaining USD 400 million will promote climate-resilient and inclusive development initiatives, The Daily Star newspaper reported. The USD 500 million policy-based loan aims to strengthen governance, asset quality and stability within Bangladesh's banking system, the ADB said in a statement on Thursday. Separately, the ADB also approved a USD 400 million loan for the second phase of the Climate-Resilient Inclusive Development Programme (CRIDP) aimed at supporting Bangladesh's efforts to adapt to climate change, cut emissions and foster inclusive economic growth. Also on Thursday, the World Bank (W

World Bank urges 'radical' debt transparency to prevent future crises

World Bank wants to broaden the depth and detail of what sovereign countries disclose regarding new loans, as more of them enter complex, off-budget borrowing deals due to global market turmoil

Nirmala Sitharaman ask fintechs to find solutions to prevent cyberfrauds

Finance Minister Nirmala Sitharaman on Wednesday asked fintech startups to come out with solutions to deal with the rising incidence of digital arrests, cheating by fly-by-night operators, and other kinds of cyberfrauds. Lauding the success of fintechs, the Finance Minister said they have helped in speeding up financial inclusion, and taking the payment system to even the far-flung areas of the country. Speaking at the Digital Payments Awards 2025 Ceremony here, Sitharaman said it is important to ensure that startup companies come up with solutions so that people are not arrested at home digitally, or fly by night operators don't take away their money. Another major threat, she pointed out, is 'deep fake', which is causing a lot of damage to the public in large. "Today, we should take care of addressing them so we need a set of fintech companies which are constantly working to give solutions for the newer challenges which are arising," Sitharaman said. She also called upon the fin

World Bank lifts ban on nuclear power, considers upstream gas projects

Meeting rising power demand is 'one of the most urgent and complex development challenges we face,' the bank's president, Ajay Banga said

Stock Market close highlights: Sensex, Nifty settle higher; IT, OMC stocks rally; Bank, FMCG drag

Sensex Today | Stock Market close, Wednesday, June 11, 2025: HCL Tech, Infosys, Tech Mahindra, Bajaj Finserv and Reliance Industries were the top Sensex gainers

India's war on poverty: 171 million people rise above extreme deprivation

India's fight against poverty sees 171 million people lifted from extreme deprivation; MPI drops from 53.8% to 16.4%, reflecting a decade of transformative change across rural and urban areas

India pulls 269 million out of extreme poverty in 11 years: World Bank

From 344 million to 75 million, World Bank says India's extreme poor shrank sharply over 11 years

75% households, firms in South Asia to face extreme weather next decade

South Asia is facing a sharp rise in extreme weather, with nearly 90% of the population expected to be exposed to intense heat, and more than one in five people at risk of severe flooding by 2030

GST largest marginal contributor to rising poverty in Pakistan: World Bank

The General Sales Tax has the largest marginal contribution to the rise of poverty while a monthly cash transfer programme to the poorest families has the largest positive impact on inequality reduction in Pakistan, a World Bank study has said. The Effects of Taxes and Transfers on Inequality and Poverty in Pakistan' reports that the General Sales Tax (GST) payments account for over 7 per cent households' pre-tax expenditure, which leads to further impoverishment among poor and vulnerable households. Dawn reported on Sunday quoting the World Bank (WB) study that estimations of the marginal contributions of individual fiscal instruments or the additional impact that individual fiscal instruments have on poverty or inequality when all other fiscal instruments are included demonstrate that GST has the largest marginal contribution to the national poverty increase. The second-largest impact on inequality comes from pre-primary and primary education expenditures, the WB study said. It

With a stagnant economy, Pakistan needs to focus on citizens' welfare

In a low-income country, there will always be competing demands for resources

Centre plans to extend Ranbir canal on Chenab after Indus Treaty suspension

The government is considering plans to increase the length of the Ranbir canal on the Chenab river as part of its efforts to maximise the use of water that India will get after putting the Indus Water Treaty in abeyance following the Pahalgam attack, officials said. Till now, India has been using limited water from Chenab, mostly for irrigation, but by putting the treaty in abeyance now there is scope of expanding its use, especially in power generation sector to meet the energy demands, a senior official said. Another official said that India is planning to enhance its current hydropower capacity of around 3000 megawatts on the rivers that were earlier being used by Pakistan and a feasibility study in this regard is planned, the official said. "One of the major plans are enhancing the length of the Ranbir canal to 120 km," the official said, adding that as building of the infrastructure requires time, "all stakeholders have been urged to expedite the process". Moreover, the proces

No role beyond a facilitator: World Bank's Ajay Banga on IWT suspension

On April 25, a day after India held the Indus Waters Treaty in abeyance, Pakistan announced its intention of reaching the World Bank, seeking intervention

World Bank chief to visit UP to witness state's transformation: Govt

World Bank President Ajay Banga will visit Uttar Pradesh on Friday to witness the remarkable transformation of Uttar Pradesh, the state government said on Thursday. "His visit reflects the increasing global interest in Uttar Pradesh's rapid development under the leadership of Chief Minister Yogi Adityanath, as the state moves steadily toward its ambitious goal of becoming a USD 1 trillion economy," it said in a statement. During his one-day tour, the World Bank chief will travel from Delhi to Lucknow in the morning. He is scheduled to participate in a series of meetings and programmes at Hotel Taj, including a roundtable discussion with stakeholders in the presence of Chief Secretary Manoj Kumar Singh, the statement said. Later, he will meet the chief minister at his residence for a discussion and dinner, it added. Following the engagements in Lucknow, the World Bank president will visit the Take-Home Ration (THR) plant in Chinhat Block, where he will review the plant's operations