Chandigarh, June 23 (IANS) Punjab Bharatiya Janata Party (BJP) President Kewal Singh Dhillon has written to World Bank Group President Ajay Banga, acknowledging his remarks on the state’s rural economy. In a letter, Dhillon said Banga’s observations had opened an important conversation on Punjab’s economic realities, one that deserved thoughtful engagement rather than political point-scoring.Referring to Banga’s remarks, Dhillon noted that Punjab’s youth faced economic vulnerability, c…
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Washington, June 11 (IANS) The World Bank Group said on Thursday it is prepared to deploy up to $100 billion over the next 15 months to help developing countries cope with the economic fallout from the conflict in the Middle East, as rising energy prices and slowing growth place fresh pressure on vulnerable economies.The multilateral lender said it is immediately making available between $50 billion and $60 billion through existing instruments, including $25 billion in pre-arranged financing, to…
New Delhi, April 19 (IANS) India is pairing artificial intelligence with digital public infrastructure, local‑language systems and governance safeguards helping farmers, women and village institutions can use AI directly rather than through urban intermediaries, a report has said.The report from One World Outlook said India’s approach counter structural challenges such as weak physical infrastructure and high friction in language, literacy, and access.It made services legible, local and usable…
Washington, April 16 (IANS) The World Bank Group has launched a global initiative to improve water security for one billion people by 2030, linking access to reliable water directly to jobs, economic growth and stability across developing economies. The platform, called Water Forward, aims to align reforms, financing and partnerships to expand water services and strengthen resilience to droughts and floods.“Water is foundational to how economies function. When water systems work, farmers produ…
New Delhi, April 10 (IANS) The Office of the Prime Minister of India on Friday highlighted an IANS report on World Bank President Ajay Banga backing job creation as the core of development strategy and citing India’s cooperative model as an example of scalable growth.The story shared by PMO India on the social media platform X underscores the importance of employment-led growth and the global recognition of India’s development approach.Banga emphasised that development efforts must move beyo…
Washington, April 10 (IANS) Underscoring job creation as the core of global development strategy, World Bank president Ajay Banga has pointed to models like India’s cooperative sector as examples of scalable growth solutions.Speaking at the Atlantic Council ahead of the annual Spring meeting of the World Bank and International Monetary Fund, Banga said development efforts must shift focus from individual projects to broader outcomes centred on employment and economic opportunity.“Development…
Washington, April 10 (IANS) Rising geopolitical tensions are beginning to reshape economic expectations, with the World Bank’s president Ajay Banga warning that prolonged conflict could dampen growth, fuel inflation and strain vulnerable economies.Speaking at the Atlantic Council, World Bank President Ajay Banga said the ongoing conflict in the Middle East, combined with existing crises such as the war in Ukraine, is already exerting pressure on global economic conditions.“The emerging marke…
New Delhi, Feb 10 (IANS) While the Pakistan government claims that it ushered in the recent macroeconomic stabilisation, the uncomfortable and far more consequential reality is that unemployment is rising, and for millions of Pakistanis, economic stability remains an abstract concept that has not translated into secure livelihoods, according to an article in the Pakistani media.The 2025 Labour Force Survey paints a stark picture. Unemployment has climbed to 7.1 per cent, the highest level in 21 …
New Delhi, Feb 7 (IANS) As millions of young Pakistanis enter an economy that has struggled to expand, stalled by macroeconomic instability and policy uncertainty, the country faces “twin dangers” of domestic unrest and accelerating outward migration, a new report has warned.Pakistan must generate between 25 and 30 million jobs over the next decade — about 2.5 to 3 million every year.However, without a thriving private economy, job creation on the scale required is simply not possible, arg…
Bhubaneswar, Jan 29 (IANS) Odisha Chief Minister Mohan Charan Majhi on Thursday held crucial discussions with World Bank President Ajay Banga on measures to strengthen cooperation between the State and the international financial institution across key development sectors and to advance the State’s long-term growth and reform agenda. Senior officials of the State Government, including Chief Secretary of Odisha Anu Grag, Development Commissioner D K Singh, and the representatives of the World B…