India’s extreme poverty rate fell from 27.1% to 2.6% between 2011 and 2023: World Bank

October 30, 2026 4:35 PM

India’s extreme poverty rate fell from 27.1% to 2.6% between 2011 and 2023: World Bank

India lifted an estimated 496 million people out of poverty between 2011 and 2023, with the extreme poverty rate declining from 27.1 per cent to 2.6 per cent, according to the World Bank's October 2026 Poverty and Equity Brief. The report described India's progress as "one of the fastest poverty declines in the world", highlighting significant improvements in both monetary and non-monetary measures of poverty. According to the World Bank, the proportion of people living below the lower-middle-...

World Bank’s Banga sets goal of quintupling critical minerals financing in five years

October 16, 2026 9:48 AM

World Bank’s Banga sets goal of quintupling critical minerals financing in five years

World Bank President Ajay Banga on Friday said the development lender has set a goal of quintupling its critical minerals business in five years, and has identified 20 countries that it can partner with on critical minerals development projects. Banga revealed the new goal in prepared remarks to a plenary session at the International Monetary Fund and World Bank annual meetings in Bangkok. "In critical minerals, we plan to quintuple our business in five years," Banga said. "This week, we launc...

At World Bank Development Committee Meeting, Sitharaman Calls for Greater Private Capital Mobilisation, Better-Paid Jobs

October 15, 2026 11:51 PM

At World Bank Development Committee Meeting, Sitharaman Calls for Greater Private Capital Mobilisation, Better-Paid Jobs

Union Finance Minister Nirmala Sitharaman has called for greater private capital mobilisation and the creation of productive, better-paid jobs, saying these remain the most effective pathway to poverty reduction and shared prosperity amid growing energy market stress, trade fragmentation, climate pressures and rapid technological change. Sitharaman made the remarks while participating as India’s Governor of the World Bank in the 114th Meeting of the Development Committee Plenary in Bangkok, T...

RBI Signals Calibrated Tightening as World Bank Lifts India’s Growth Outlook to 7.1%

October 9, 2026 3:06 PM

RBI Signals Calibrated Tightening as World Bank Lifts India’s Growth Outlook to 7.1%

Inside This Week's Economic Brief This week's Economic Brief covers RBI's calibrated tightening stance, the World Bank's upgraded 7.1% FY27 growth forecast, India's FTA utilization push, rare earth magnet manufacturing, and Aramco's warning on thin global oil inventories. This week's edition of The Economic Brief on DD India examined five major stories: RBI Governor Sanjay Malhotra's clarification on monetary policy stance, the World Bank's upgraded growth outlook for India, a renewed push to ...

World Bank raises India’s FY27 growth forecast to 7.1% from 6.6%

October 6, 2026 3:09 PM

World Bank raises India’s FY27 growth forecast to 7.1% from 6.6%

The World Bank has raised its forecast for India's economic growth in FY27 to 7.1 per cent from 6.6 per cent, citing stronger-than-expected economic activity, robust domestic demand and exports.   In its latest India Development Update, released on Tuesday, the World Bank said India's medium-term growth prospects remain strong despite global headwinds.   The World Bank, however, flagged risks from higher global oil prices, El Nino conditions and potential stock market corrections, which co...

World Bank, IMF back debt framework changes for poor countries

September 21, 2026 9:51 PM

World Bank, IMF back debt framework changes for poor countries

The World Bank and International Monetary Fund said on Monday that both their executive boards had approved proposed reforms of their joint framework for evaluating the debt of low-income countries to reflect a more complex and riskier environment. A joint review, the first since 2017, recommended changes in several areas, including better analysis of domestic debt and broadening the analysis of long-term development challenges, including climate change. The reforms will work to improve the an...

India can clock growth beyond 8%: World Bank’s Ajay Banga

September 2, 2026 10:42 AM

India can clock growth beyond 8%: World Bank’s Ajay Banga

India has the potential to grow beyond its current 7-8 per cent trajectory, World Bank President Ajay Banga has said, describing the country’s latest economic performance as robust despite global energy pressures, trade uncertainty and the impact of El Niño. In an exclusive interview with IANS on the sidelines of the G20 Finance Ministers’ meeting in Asheville, Banga said the latest growth figures reflected the strength of India’s underlying economy. “India is now delivering regularly...

FM Sitharaman meets World Bank chief Ajay Banga, discusses deeper partnership and private capital mobilisation

September 2, 2026 10:09 AM

FM Sitharaman meets World Bank chief Ajay Banga, discusses deeper partnership and private capital mobilisation

Union Finance and Corporate Affairs Minister Nirmala Sitharaman met World Bank Group President Ajay Banga on the sidelines of the G20 Finance Ministers and Central Bank Governors (FMCBG) Meeting in Asheville on Tuesday, with discussions focusing on further strengthening the India-World Bank partnership. FM Sitharaman appreciated the World Bank Group’s continued engagement with India and acknowledged the speedy processing of $1.5 billion in Development Policy Financing (DPF). She also appreci...

World Bank cuts global growth forecast to 2.5%; India remains fastest-growing major economy

June 12, 2026 10:20 AM

World Bank cuts global growth forecast to 2.5%; India remains fastest-growing major economy

India remained the world's fastest-growing large economy, the World Bank said on Thursday, projecting GDP growth of 6.6% in 2026 following a 7% expansion in 2025. Growth rates in India were expected to remain fairly high for the next two decades, World Bank chief economist Indermit Gill said. The assessment came as the lender cut its global growth forecast for 2026 to 2.5%, citing heightened geopolitical tensions and the conflict in the Middle East. It also warned that global growth could sl...

World Bank sees Pacific growth slowing to 2.8% in 2026

May 12, 2026 3:01 PM

World Bank sees Pacific growth slowing to 2.8% in 2026

Economic growth across 11 Pacific Island countries is expected to weaken in 2026 as higher energy and shipping costs, slowing tourism momentum and persistent structural constraints weigh on activity, the World Bank said in a report released on Tuesday. The World Bank's Pacific Economic Update said growth in the Pacific Island countries it tracks slowed to an estimated 3.2% in 2024 and 2025, down from 6.5% in 2023, and is forecast to ease further to 2.8% in 2026 before edging up to 3.1% in 2027....