With a population of more than 1.2 billion, India is the world’s largest democracy. Over the past decade, the country’s integration into the global economy has been accompanied by economic growth. India has now emerged as a global player.
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With external vulnerability receding, time to refocus on reformsWashington, April 9. 2014—The World Bank said today it was cautiously optimistic about economic prospects in South Asia in 2014 because of... Show More + growing exports and investment as it emphasized that the risks to growth were becoming more domestic, including an increasingly vulnerable banking sector.In its twice-a-year “South Asia Economic Focus”, the World Bank forecast that economic growth would rise to 5.8% in 2015 from 5.2% this year and 4.8% last year. South Asian countries – which include Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan, and Sri Lanka – appeared to have largely recovered from last year’s financial turmoil caused by changes in US Federal Reserve monetary policy. Many were rebuilding currency reserves while curbing current account deficits.But these successes on the external side were accompanied by looming problems in the domestic economy. Economic growth could be held back by unstable bankin Show Less -
WASHINGTON, October 7, 2013–Economic growth in Sub-Saharan Africa (SSA) remains strong with growth forecasted to be 4.9% in 2013. Almost a third of countries in the region are growing at 6% and more, and... Show More + African countries are now routinely among the fastest-growing countries in the world, according to the World Bank’s new Africa’s Pulse, a twice-yearly analysis of the issues shaping Africa’s economic prospects.Buoyed by rising private investment in the region and remittances now worth US$33 billion a year supporting household incomes GDP growth in Africa will continue to rise and pick up to 5.3% in 2014 and 5.5% in 2015. Strong government investments and higher production in the mineral resources, agriculture and service sectors are supporting the bulk of the economic growth. As Africa’s growth rates continue to surge with the region increasingly a magnet for investment and tourism, Africa’s Pulse notes that poverty and inequality remain “unacceptably high and the pace of reduction una Show Less -
WASHINGTON, June 12, 2013 – Risks from advanced economies have eased and growth is firming, despite ongoing contraction in the Euro Area. However, the pick-up in developing countries will be modest because... Show More + of capacity constraints in several middle income countries, says the World Bank in the newly-released Global Economic Prospects (GEP) report.Global GDP is expected to expand about 2.2 percent this year and strengthen to 3.0 percent and 3.3 percent in 2014 and 2015. Developing-country GDP is now projected to be around 5.1 percent in 2013, strengthening to 5.6 percent and 5.7 percent in 2014 and 2015, respectively. Growth in Brazil, India, Russia, South Africa and Turkey has been held back by supply bottlenecks. While external risks have eased, growth in these countries is unlikely to reach pre-crisis rates unless supply-side reforms are completed. In China also, growth has slowed as authorities seek to rebalance the economy. Looking at broader region-wide trends, the East Asi Show Less -
New Delhi, April 30, 2013 – India is regaining economic momentum and growth is expected to recover gradually to its high long-term potential, says the latest India Development Update of the World Bank.According... Show More + to the Update, a twice-yearly report on the Indian economy and its prospects, economic growth is likely to accelerate to over 6.0% during the current financial year (April 2013-March 2014). Growth is expected to increase further to 6.7% in FY 2015. Recent data point to some improvements in economic activity: inflation and trade deficit came down in recent months, while private consumption and investment growth had accelerated in the third quarter of FY 2013.“Despite the current downturn, long-term prospects remain bright for India. India possesses the fundamentals to grow at sustained high rates over the next several decades,” said Martin Rama, the World Bank’s chief economist for the South Asia region. “With the working-age population increasing by 7 million people each year, t Show Less -
The focus of this operation in HP will be towards climate smart development across its key engines of economic growth – energy, watershed management, industry and tourismWASHINGTON, September 06 2012 -... Show More + The World Bank today approved a US$ 100 million development policy loan (DPL) to support the government of Himachal Pradesh, a mountain state richly endowed with natural resources, move towards an environmentally sustainable model of economic growth. This DPL to Promote Inclusive Green Growth and Sustainable Development will support the Government of Himachal Pradesh (GoHP) as it launches transformative actions across its key engines of economic growth -- energy, watershed management, industry and tourism. With this Program, HP will make a tangible contribution to the Government of India’s (GoI) objective of reducing the intensity of greenhouse gas emissions. The DPL loan approved today by the World Bank Board is a culmination of the Bank’s long-standing and multi-secto Show Less -