Tag: World Bank

United Nations: As India reels from the impact of the COVID-19 pandemic, the World Bank projects the country’s economy to shrink by 3.2 per cent in the current fiscal year, the worst performance since 1979. The Bank said on Monday that the world was facing its worst recession since World War II and per capita […]

New Delhi: The prolonged closure of schools due to the COVID-19 pandemic in India may cause a loss of over USD 400 billion in the country’s future earnings, besides substantial learning losses, according to a World Bank report. South Asia region stands to lose USD 622 billion from the school closures in the present scenario […]

Washington: The world is experiencing one of the deepest recessions since the Great Depression in the 1930s owing to the novel coronavirus, World Bank President David Malpass has said, terming the COVID-19 pandemic a “catastrophic event” for many developing and the poorest countries. He told reporters that given the extent of the economic contraction, there […]

Washington: India’s economy is estimated to contract by 9.6 per cent in the fiscal year 2020-21, reflecting a sharp drop in household spending and private investment, and the growth is expected to recover to 5.4 per cent in 2021, the World Bank said on Tuesday. In its Global Economic Prospects report, the World Bank said […]

Washington: India, which has one per cent of the world’s vehicles, accounts for 10 per cent of all road crash victims, the latest World Bank report on road safety said on Saturday. Hartwig Schafer, World Bank’s Vice President for South Asia, said the Indian government in recent years has taken significant steps to address the […]