World Bank to provide Rs 3,000 crore aid for food parks

September 13, 2019 9:07 PM

World Bank to provide Rs 3,000 crore aid for food parks

Union Minister of State for Food Processing Industries Rameswar Teli has said, the World Bank will provide three thousand crore rupees assistance to finance, mini and mega food parks across the country. This will help boost farmers' income. He was addressing the  15th Indo-US Economic Summit organized by the Indo-American Chamber of Commerce-North India Council (IACC-NIC) in New Delhi today. In a statement, IACC-NIC quoted the Minister as saying that minor formalities remain to be compl...

India to grow at 7.5 per cent during next three years: World Bank

June 5, 2019 9:12 PM

India to grow at 7.5 per cent during next three years: World Bank

The World Bank has forecast that India's economy is projected to grow at 7.5 per cent in the next three years, supported by robust investment and private consumption. The bank in its Global Economic Prospects released yesterday said that India is estimated to have grown 7.2 per cent in fiscal year 2018-19, which ended March 31 this year. A slowdown in government consumption was offset by solid investment, which benefitted from public infrastructure spending.   The World Bank said, as ag...

World Bank to provide 250 Million dollar for NRETP to boost Rural incomes in India

March 6, 2019 7:19 AM

World Bank to provide 250 Million dollar for NRETP to boost Rural incomes in India

World Bank to provide 250 Million dollar for the National Rural Economic Transformation Project (NRETP) to boost Rural Incomes across 13 States in India.  The Agreement was signed by Mr. Sameer Kumar Khare, Additional Secretary, Department of Economic Affairs, Ministry of Finance, on behalf of the Government of India and Mr. Hisham Abdo, Acting Country Director, World Bank India, in New Delhi yesterday.  Wold Bank said in a statement that the loan will help women in rural households develop viab...

India signs loan agreement with World Bank Uttarakhand Disaster Recovery Project

March 5, 2019 8:06 PM

India signs loan agreement with World Bank Uttarakhand Disaster Recovery Project

India today signed a loan agreement with the World Bank for 96 Million US dollars for additional financing of Uttarakhand Disaster Recovery Project. Finance Ministry in a release said the World Bank has been supporting the State Government since 2014 to restore housing and rural connectivity and to build the resilience of communities.  It said, the Project has completed more than two thousand permanent houses and 23 public buildings and restored over one thousand 300 kilometers of roads and 16 b...

World Bank approves Country Partnership Framework for India to support its transition to higher middle- income country

September 21, 2018 1:56 PM

World Bank approves Country Partnership Framework for India to support its transition to higher middle- income country

World Bank Board has endorsed an ambitious five-year Country Partnership Framework (CPF) for India, which aligns with New Delhi's objectives of high, sustainable and inclusive growth. The move is aimed at supporting India's transition to a higher middle-income country by addressing some of its key development priorities such as resource efficient and inclusive growth, job creation and building its human capital.  The framework is expected to bring between 25 and 30 billion US D...

World Bank projects India's GDP growth at 7.3 per cent

March 14, 2018 8:12 PM

World Bank projects India's GDP growth at 7.3 per cent

The World Bank today projected India's GDP growth at seven point three per cent for the next financial year and accelerate further to seven point five per cent in 2019-20.  The World Bank's biannual publication, India Development Update - India's Growth Story, expects the economy to clock a growth rate of 6.7 per cent in the current fiscal ending March 31. The report, however, observed that a growth of over 8 per cent will require continued reform and a widening of the...