World Bank expects India's GDP at factor cost to grow 5.7 per cent in 2013-14 and then accelerate to 6.5 per cent and 6.7 per cent in the two subsequent financial years, respectively. The multilateral lending agency said this in its Global Economic Prospects report released recently. In 2012-13, the economy expanded at a decade-low pace of 5 percent. The report notes that growth in South Asia would primarily be driven by an estimated pick-
Tag: World Bank
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Towards accessible hinterlands
Those against central-state joint participation and champions of the “federal structure” should learn the rural roads case study. Without the Rs 132,000 crore Pradhan Mantri Gram Sadak Yojana (PMGSY)
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Highway project in Mizoram
In Mizoram, a major road construction project that is financed by the World Bank is to be started soon.
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WB support for Hyd metro
Barjor E Mehta, Country Head of World Bank in India expressed the commitment of the multilateral lending agency to support Hyderabad Metro Rail project and activities to transform Hyderabad as an eco-friendly global city.
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World Bank funded double-lane highway in Mizoram soon
In Mizoram, a major road construction project, that is financed by the World Bank, is to be started soon. PWD Engineer-in-Chief Lianchungnunga said that the double-lane highway to link Mamit, Lunglei and Lawngtlai district with Kaladan Multi Modal Transit Transport Project in the western part of Mizoram has been approved by the Centre and the total length of the road to be constructed with about Rs 2,000 crore World Bank Project II is 350 kilometers.
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World Bank lends $216 mn for road projects
Road projects in Kerala received $216 million funding from the World Bank, which points out that of the 4,340 km highways in the state, around 70 percent are still single-lane with 54 percent in poor condition. Kerala government would use the fund for its Stage Transport Project II (KSTP II). The fund would enable upgradation of 363 km of strategically important state highways
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Experts call for mechanism to rework PPP contracts
International experts on public-private partnerships (PPP) projects suggest the government to devise mechanisms to permit contract renegotiations during the term of the concession. Experts said this at a FICCI conference on PPP held recently in Delhi. According to a study by the World Bank, 55 per cent of (PPP) contracts in the transport sector were renegotiated across the world during 1985-2000
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World Bank chief welcomes idea of BRICS bank
World Bank President Jim Young Kim welcomed the idea of setting up a bank collectively by Brazil, Russia, India, China and South Africa or BRICS countries in order to fund their infrastructure projects. He said every single BRICS country has an enormous infrastructure deficit that simply can't be met by a single institution, certainly not the World Bank in and of itself
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Govt clears 2 National Highway projects in Rajasthan
The Union government approved two highway extension projects in Rajasthan involving investments of Rs 713 crore with assistance from the World Bank. A press release from the Ministry of Road Transport and Highways said that government has approved a proposal for rehabilitation and upgrading of two stretches of National Highways in Rajasthan under Phase I of National Highway Interconnectivity Improvement Projects (NHIIP) with World Bank loan assistance.
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Majority of developing countries subsidise fuel products
A study by World Bank shows that about two-thirds of the developing countries (considered in the study) have kept domestic prices of one or more petroleum products below market-clearing levels in the past three years. It adds that with the additional burden sharing by the oil and gas companies included, fuel subsidies amount to about 2