World Bank News

In India, growth moderated in FY2024/25 (April 2024 to March 2025), partly reflecting a deceleration in industrial output growth.

About 75.24 million people were living in extreme poverty in India during 2022–23, a massive drop from 344.47 million in 2011–12.

India will play a key role at the World Bank Land Conference 2025, wherein the SVAMITVA Scheme will be spotlighted as a transformative model of rural empowerment through drone mapping, high-accuracy geospatial data, and platforms like Gram Manchitra for climate-aligned planning.  

Recognising India’s fast pace of growth averaging 6.3 per cent between 2000 and 2024, the WB report noted that India’s past achievements provide the foundation for its future ambitions. 

Speaking at the 'Advantage Assam 2.0 Business Summit' here, World Bank Country Director, Auguste Tano Kouame, dismissed worries over short-term fluctuations, calling India “the shining light in the world.”

In contrast, fiscal deficits in other South Asian nations are projected to remain stable due to fiscal adjustments being offset by higher interest payments in Pakistan and infrastructure investments in Bangladesh. 

At a time when global growth is expected to remain at 2.7 per cent in 2025-26, this remarkable performance underscores India’s resilience and its growing significance in shaping the world’s economic trajectory, said Ministry of Information and Broadcasting. 

The World Bank approved 1.16 billion USD to help Bangladesh improve health services, water and sanitation services and achieve greener and climate-resilient development. 

The World Bank will bring global expertise to support the design of city institutions and infrastructure that can create economic opportunities.

During the meeting, Finance Minister Sitharaman shared updates on the World Bank's Evolution Agenda, which is actively considering 27 of the 30 recommendations put forth by the G20 Independent Expert Group. 

The South Asian country achieved a growth of 3.9 per cent in 2023-24, noted the international financial institution.

According to Economic Survey, the country's real gross domestic product (GDP) will grow at 6.5-7 per cent in 2024-25. However, the Reserve Bank of India estimates a higher 7.2 per cent for the current financial year. 

The World Bank has raised India's economic growth forecast by 1.2 per cent to 7.5 per cent for 2023-24, on the back of robust activity in services and industry in its latest update for South Asia.

Poverty in Pakistan rose within one year from 34.2 percent to 39.4 percent.

The anti-LGBTQ law in Uganda, enacted in May, has drawn widespread denunciation from local and international rights organisations and Western governments, though it is popular domestically.

Tertiary education in India has been growing steadily from 29 million enrolled students in 2011-12 to 39 million enrolled students across 40,000 institutions in 2019-20. 

The plan will assess the current and future shoreline changes in the state and create policies to address the risks to environmental resources, human settlements, and infrastructure along the coast.

That's the highest level since the early 1990s, and currently, Venezuela and Zimbabwe are the only two countries experiencing higher inflation than Argentina, according to International Monetary Fund data.

The President of the World Bank Group is also the Chair of the Board of the Executive Directors of the International Bank for Reconstruction and Development (IBRD).  

Banga, a finance and development expert, will take over the role on June 2. He was the sole contender to replace departing World Bank chief David Malpass whose term ends early next month.