The World Bank says it’ll be for the first time a single country will achieve that mark in yearly remittances. With a share of 23%, the U.S. surpassed the UAE as the top source country in 2020-21.
The report says that till 2036, the investment in the urban cities must be equivalent to 1.18% of the estimated gross domestic product (GDP) over this period.
After surging by about 60% in 2022, energy prices are projected to decline 11% in 2023 amid concerns of an impending global recession, the World Bank says in a report.
The poorest and most vulnerable were hit the hardest – pushing 70 million people into "extreme poverty" in 2020 alone: World Bank
From tax collections to credit outflow, capex, sectoral growth, inflation, interest rates, rupee devaluation and external factors, there are challenges to sustaining growth.
India's services exports have recovered more strongly than in the rest of the world, says report.
The Covid pandemic increased the global extreme poverty rate to an estimated 9.3% in 2020—up from 8.4% in 2019, says a World Bank study.
Amid slowing global growth, export growth will moderate while import growth will be driven by recovering domestic demand, says the World Bank.
UN agency attributes decline in growth to impact of weakening global economy and the fiscal pressures that may prevent the govt from ramping up its overall capital expenditure beyond a point.
India recorded strongest rebound from COVID but momentum is dissipating due to weaker external conditions, rising global food and energy prices tightening monetary policy, says OECD.
