World Bank Managing Director for Operations Anna Bjerde said the bank is supporting the government turning the growth into jobs and also sustainable development.
The new steps, still in discussion, come on top of initial steps approved in April that will boost World Bank lending by up to $50 billion over the next decade.
World Bank President Ajay Banga will unveil measures, including the pause on repayments and embedding catastrophe insurance into new loans in a speech in Paris on Thursday.
During meeting with Banga a day before former Mastercard CEO takes office at World Bank, Yellen ‘conveyed her strong desire for Treasury to continue close collaboration’ with him.
Banga, 63, recently completed a 3-week world tour to meet govt leaders, civil society groups and others in borrowing and donor countries as he campaigned for the bank's top post.
These discussion will focus on India’s development priorities, the World Bank, & global economic development challenges, the Treasury said in a statement.
Banga, nominated by the US to lead World Bank, gained traction with leading members, a sign that he will likely have a smooth ride to confirmation by the bank's executive board.
A sound tax system is one based on the ability to pay or economic surplus. But the STT taxes the circulation of capital and not its returns, making it deeply distortionary.
Exporters said the Budget’s proposals to increase duty-free import limits on processing, create 500 reservoirs and support fisheries startups will boost the marine industry.
With recruitments under Agnipath set to rise, the Union Budget has significantly increased spending, with the Army taking nearly 87% of the total outlay.
The key to fighting a war successfully, or even launching it, is a clear objective. That’s an entirely political call. It isn’t emotional or purely military.
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