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Global economy in protracted deterioration; India stands out: Kaushik Basu

Global economy in protracted deterioration; India stands out: Kaushik Basu

Worried about the global economy being in a "protracted deterioration", noted economist Kaushik Basu has warned against low interest regimes and the rich countries following "foolish policies" like protectionism even as he asserted India stands out with a growth rate of over 7 per cent.

No govt role for ex-World Bank chief economist Kaushik Basu, to return to academia

No govt role for ex-World Bank chief economist Kaushik Basu, to return to academia

Having served World Bank as its Chief Economist for about four years, India's former Chief Economic Advisor Kaushik Basu says he will not take up any position in the Indian government and plans to return to Cornell University and focus on his research projects.

Arun Jaitley meets PM Modi over new RBI Governor's appointment

Arun Jaitley meets PM Modi over new RBI Governor's appointment

Finance Minister Arun Jaitley on Thursday held an hour-long discussion with Prime Minister Narendra Modi over appointment of new RBI Governor, a post that will fall vacant on September 4.

 Central bank should enjoy autonomy: Kaushik Basu

Central bank should enjoy autonomy: Kaushik Basu

Stressing upong the fact that a Central bank should enjoy autonomy, World Bank chief economist Kaushik Basu said on Friday that ensuring the same is very important.

World Bank likely to name NYU's Paul Romer as next chief economist: Sources

World Bank likely to name NYU's Paul Romer as next chief economist: Sources

The World Bank is expected to name New York University economics professor Paul Romer as its next chief economist this week, two people familiar with the decision said, a move that would bring in a prominent voice advocating for investment in human capital.

Indian economy likely to grow at 7-7.5% in 2016: Kaushik Basu

Indian economy likely to grow at 7-7.5% in 2016: Kaushik Basu

Until October, the World Bank retained India's growth forecast at 7.5 percent for 2015-16 and expected it to be 7.8 percent in 2016-17 and 7.9 percent in 2017-18.

India, US are two engines of growth amid bleak global scenario: Kaushik Basu

India, US are two engines of growth amid bleak global scenario: Kaushik Basu

In this bleak global scenario, the US among the rich economies and India among the emerging economies are the two engines of growth, World Bank chief economist Kaushik Basu said.

World Bank may revise India's economic growth projection in January review

World Bank may revise India's economic growth projection in January review

Recession in Brazil and Russia and slowdown in China have made India the leading economy in terms of growth prospects for the first time this year.

India ranks 130 in ease of doing business report; jumps 12 spots

India ranks 130 in ease of doing business report; jumps 12 spots

India now ranks 130 out of 189 countries in the ease of doing business, moving up 12 places from last year, according to a World Bank report.

Widespread job restrictions on Indian women: World Bank

Widespread job restrictions on Indian women: World Bank

Indian women face widespread restrictions for jobs though things are changing which is reflected in some recent decisions like quota for women on corporate boards of publicly-listed companies, according to a new World Bank report on South Asia's largest economy.

$354-bn forex reserves too small to fight a crisis: Kaushik Basu

World Bank chief economist Kaushik Basu Wednesday said the USD 354 billion of forex war-chest is not sufficient to fight a crisis and advocated accumulation of more currency assets as the right strategy.

India leads emerging economies in growth chart, GDP set to surpass China this year

India with an expected growth rate of 7.5 percent this year is set to surpass China and for the first time is leading the World Bank's growth chart of major economies.

India tops in remittances, receives $70 billion

The World Bank has said India continues to be the leading nation in remittances pulling in USD 70 billion from its global migrant workforce in 2014.

India to overtake China as fastest growing big economy by 2017: World Bank

Fuelled by economic reforms, India is projected to become the world`s fastest growing large economy by 2017 with a growth rate of seven percent, overtaking China along the way, a World Bank report said Tuesday.

India will catch up with China's growth rate in 2016-17: World Bank

"India will catch up with China's growth in the year 2016 and 2017," World Bank Chief Economist and Senior Vice-President Kaushik Basu told reporters here.

Indian economy to grow by 7% in 2016: World Bank

Overall, Basu painted a dim picture of the global economy facing a "stalled recovery in some high-income economies and even some middle-income countries" but said "there are some silver linings behind the clouds."

India should use low oil prices to put fiscal house in order: Kaushik Basu

The sharp decline in global crude oil prices gives India a rare "window of opportunity" to put its fiscal house in order and carry out the much-needed economic reforms like cutting down oil subsidy, says a top World Bank official.

Expand BRICS into BRICKS: Basu pitches for Kenya's inclusion

A few years ago, South Africa was included into this grouping and it became BRICS.

Remittances to help balance capital outflows: World Bank

Remittances to developing countries should swell 6.3 percent this year to USD 414 billion, flowing from workers abroad to their home countries and helping to offset volatile capital outflows, according to World Bank forecasts released on Wednesday.

Use forex reserves to curb rupee volatility: Kaushik Basu

With the rupee sliding below the 63 mark against US dollar, World Bank Chief Economist Kaushik Basu Monday said the country should use forex reserves to curb volatility in the currency market and not to look to IMF for funds.