In dispute with Pakistan over Kishanganga & Ratle projects, India objected to World Bank move to initiate parallel mediation & refused to take part in Court of Arbitration proceedings.
India & Pakistan have locked horns over Kishanganga & Ratle hydroelectric projects, primarily over process of dispute resolution under Indus Waters Treaty and World Bank's role.
For the South Asian region, growth in 2023 & 2024 is seen at 3.6% & 4.6% respectively. 'This is mainly due to weak growth in Pakistan,' the bank said in its latest economic update.
In April 2022, India suffered a 'punishing' heat wave that brought the country to a standstill, with temperatures in New Delhi topping 46 degrees Celsius.
Strong macroeconomic fundamentals have placed India in good stead compared to other emerging market economies, says World Bank. Lowers next year’s growth estimate from 7% to 6.6%.
A new World Bank report says that a sustainable cooling strategy will not only help India reduce emissions but also open an investment opportunity of $1.6 trillion by 2040.
Indian cities require an estimated capital investment of US$ 840 bn in 15 yrs in urban infra & municipal services, equivalent to 1.18% of estimated GDP over this period, it adds.
Previously, Sri Lanka was placed in the lower-middle economy category. The categorisation as a 'low income' country would ease access to concessional funding, the cabinet spokesman said.
For an industry globally classified as hazardous, protections such as health insurance and a provident fund for workers are necessities. In Sivakasi, they remain elusive.
The industry forecasts exports are set to grow 16% in 2025-26, boosted by surplus domestic production and a drive to push into 26 underserved global markets with strong potential.
Indigenisation level will progressively increase up to 60 percent with key sub-assemblies, electronics and mechanical parts being manufactured locally.
It is a brilliant, reasonably priced, and mostly homemade aircraft with a stellar safety record; only two crashes in 24 years since its first flight. But its crash is a moment of introspection.
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