New Delhi: India will be a USD 4 trillion economy in 2024-25 and surpass Japan by early next fiscal to become the world’s fourth largest economy, Economic Advisory Council to the Prime Minister (EAC-PM) member Sanjeev Sanyal said on Thursday. Sanyal further said that a 7 per cent economic growth rate will be a ‘very … Read more
The Asian Development Bank (ADB) has given its nod to a USD 181 million loan aimed at bolstering the quality of urban infrastructure and services, thereby enhancing urban liveability and mobility in the peri-urban regions of Ahmedabad city in Gujarat. According to a press release by ADB, Ahmedabad and its peripheral areas have seen rapid … Read more
Videos of attack on Muslim child in U.P. taken down on X The Union government moved to block online, the viral video of a Muslim child being attacked by his classmates, in Uttar Pradesh’s Mansurpur village. The Hindu on Friday identified at least three posts on X (formerly Twitter), that have been taken down in … Read more
The Central government’s debt profile remains safe and the share of its external debt in the country’s gross domestic product dropped to 2.7% in FY23 from 3.3% in FY14 at the current exchange rate, the finance ministry told the Lok Sabha on Monday. In a written reply, minister of state for finance Pankaj Chaudhary said: … Read more
Finance Minister Nirmala Sitharaman on Wednesday underlined the need for focussing on four Is — infrastructure, investment, innovation and inclusivity — to achieve sustainable growth in the long-term. The global economy in the past few years has faced trials and tribulations, she said, adding countries have made efforts to protect the vulnerable section of the … Read more
The Asian Development Bank (ADB) continues to “monitor” the situation in Afghanistan as it “maintains a hold” on the finances for infrastructure projects in the Taliban-ruled country, a spokesperson for the Manila-headquartered bank has said. In remarks to The Hindu, the bank reiterated its commitment to Afghanistan’s humanitarian necessities. The Taliban, however, said the ADB … Read more
The International Monetary Fund pared its forecast for India’s growth to 5.9% from 6.1% for the current fiscal year, while painting a bleak picture for the world economy battling tightening financing conditions even as the Russia-Ukraine war rages on and the pandemic lingers. “Over the medium term, the prospects for growth now seem dimmer than … Read more
India and Sri Lanka held the first round of talks here last week on restructuring the bilateral official debt of the island nation facing economic crisis, according to an official statement on Tuesday. The discussions symbolise India’s support to early conclusion and approval of a suitable IMF Programme for Sri Lanka, for which financing assurances … Read more
The Asian Development Bank warned Tuesday that the highly mutated Omicron coronavirus variant could have a “substantial” economic impact, as it trimmed its 2021 and 2022 growth forecasts for developing Asia. Despite a sharp drop in infections and increased vaccination across the region stretching from the Cook Islands in the Pacific to Kazakhstan in Central … Read more
The Asian Development Bank‘s chief said on Tuesday said the lender will boost its climate financing goals by $20 billion to a new target of $100 billion through 2030 and aims to launch its concept for retiring coal-fired power plants at the COP26 climate conference in Scotland next month. The plans, disclosed by ADB President … Read more