1. World Bank CEO lauds PM Modi’s demonetisation move, says “What India has done will be studied by other countries”

World Bank CEO lauds PM Modi’s demonetisation move, says “What India has done will be studied by other countries”

World Bank CEO Kristalina Georgieva on Thursday lauded PM Narendra Modi's demonetisation move.

By: | Updated: March 3, 2017 11:12 AM
During her visit, she traveled in a local train and also inspected the operations of the suburban rail system which has been supported by the international financial institution.

Though in its first projection on India post-demonetisation, the World Bank lowered the country’s GDP growth estimate for this fiscal to 7 per cent, from its earlier estimate of 7.6 per cent made in June last year, World Bank CEO Kristalina Georgieva on Thursday lauded PM Narendra Modi’s demonetisation move. “PM Modi’s decision to ban high-value banknotes as part of efforts to stamp out corruption will have a profound and positive impact on India’s economy,” she told Hindustan Times. “What India has done will be studied (by other countries). There hasn’t been such demonetisation in a country so big,” she further told HT.

Georgieva was in India for two days. It was her first official visit to the country. During her visit, she traveled in a local train and also inspected the operations of the suburban rail system which has been supported by the international financial institution. She held discussions with Finance Minister Arun Jaitley, Maharashtra Chief Minister Devendra Fadnavis, RBI Governor Urjit Patel besides other key policy-makers.

“India is our biggest middle-income client. Its economic growth influences global growth. Its achievements in health and education contribute to the world achieving the Sustainable Development Goals. I am keen to learn more as India is a laboratory for the world to learn about what works in development and to find new ways to collaborate.” Georgieva said. also visited a school serving low-income households in Dharavi and interacted with students, teachers, and parents. The newly appointed CEO of World Bank then met children with special needs.

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Meanwhile, On Tuesday, the government pegged GDP growth at a higher-than-expected 7.1% for the current fiscal despite note ban with agriculture sector doing exceptionally well, helping India retain the tag of world’s fastest growing major economy.

  1. A
    Anil
    Mar 3, 2017 at 10:58 am
    👍👍👍👌💐💐
    Reply
    1. A
      Aashu
      Mar 13, 2017 at 4:00 am
      India growing up
      Reply
      1. J
        Joseph
        Mar 4, 2017 at 7:01 am
        Indians are having great patience to carry on even in good or bad situation as they think good day will come
        Reply
        1. M
          Mohammed
          Mar 3, 2017 at 12:10 pm
          Modi is anti muslim .....
          Reply
          1. A
            Ashley
            Mar 4, 2017 at 7:51 am
            Hey devotees.dias loan from world bank stands at $104 billion and indian is the largest recipient of loans from world bank.world bank defenitly expect india to repay the loan,if indias economy colapse how they are going to get their money back???its a clear indication that they ate wirried abt the repayment and so they started to dliver such comments..
            Reply
            1. P
              Prashanth
              Mar 4, 2017 at 3:24 am
              How much corruption has been rooted out by just demonetisation? Small and medium businesses, farmers have been affected. Some people have died waiting in lines and some committed suicide. How much black money has been found? How much? less than 100 cr? How does mere demonetisation bring about change in the country? How much black money has been found with politicians? They are the ones who d money, we all know that. They are the ones who have the best and the biggest houses, the best cars the best lifestyle.
              Reply
              1. S
                Srinivas rao
                Mar 4, 2017 at 4:20 am
                Let us all come out of worshipping persons, let us ess the policies and their implementations. Let us all protest for the freebies offered by the successive govt. Let there be accountability for the tax payers money.
                Reply
                1. S
                  Sunish
                  Mar 4, 2017 at 8:48 am
                  Ashley, can I know what u do for living. I don't think you understand economics. Am an entrepreneur and I know with out debts you can't run an economy. The w world runs on credit buddy.
                  Reply
                  1. A
                    Anshul
                    Mar 3, 2017 at 7:21 pm
                    i have mason and daily wagers working at my home for renovation. they are getting paid.. so are electricians, sanitary workers.. they are busy as usual and i have to wait for their availability, this is the news from field.. what field are you talking about?
                    Reply
                    1. R
                      Rajendra Wani
                      Mar 4, 2017 at 4:22 am
                      The lines in our temples are many fold.I have stood in Ration lines for hours in my school days.Bank lines were for few days.These Mody haters have one point agenda.They can't see beyond that.
                      Reply
                      1. Ashish Tailor
                        Mar 4, 2017 at 2:41 am
                        It's really good to have such appreciation from World Bank CEO Kristalina Georgieva really positive.
                        Reply
                        1. R
                          Ramakanth
                          Mar 3, 2017 at 10:44 pm
                          I haven't seen a better political marketer than Mody he knows how to market himself so called social media is promoting Mody suppressing the facts. Media doesn't talk about the people who died in the banks que line bcoz today we are listening and watching what Mody wants India to Watch and listen please friends wake up don't get trap in the web of Mody'S pseudo patriotism
                          Reply
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                            Atanu Dutta
                            Mar 4, 2017 at 3:45 pm
                            now the world is acknowledging pm Modi ji effort,even China n stan praised Modiji s demonetization, they said that only he can take such a big risk, only our so-called leftist n Pappu hi do not understand the honesty and hardwork he puts,and also modiji is 100percent honest,not like the Congress and the hi family, those who are entangled in corrupt cases including jamairaja Robert wadra,shame on our political leaders.
                            Reply
                            1. M
                              Mansi Joshi
                              Mar 3, 2017 at 11:36 pm
                              Your post itself shows how much superficial knowledge you have . First of all got your spelling for 'Modi' right. This shows how much you only hear from others and how much you actually read news.
                              Reply
                              1. Deven Dalal
                                Mar 13, 2017 at 11:55 am
                                A financial wizard PM called MM failed where a practical person Modi ji with guts succeeded. A PM with vision-----good for the nation.
                                Reply
                                1. P
                                  Parvin Lasania
                                  Mar 3, 2017 at 5:40 pm
                                  You are anti-humanity.
                                  Reply
                                  1. G
                                    gouri kumar
                                    Mar 3, 2017 at 7:08 pm
                                    World Bank has right as per the data provided. But the thing is just vice versa. They do not go to open market, and they docalculate as per the data supplies by govt.
                                    Reply
                                    1. Harpreet Kaur
                                      Mar 4, 2017 at 12:19 pm
                                      I agree with Joseph
                                      Reply
                                      1. G
                                        G.V.Badri
                                        Mar 4, 2017 at 7:35 am
                                        Thanks to World Bank CEO... As our Indian Political parties (except BJP) Donkeys are propaa on negetive for bote bank....
                                        Reply
                                        1. G
                                          G.V.Badri
                                          Mar 4, 2017 at 7:30 am
                                          Yes, I do agreed with Mr.Joseph...👍👍👍👍👍
                                          Reply
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                                            Pavi
                                            Mar 3, 2017 at 6:35 am
                                            This is a tight slap in the face of fake biased "experts" like Amartya Sen, who serve no purpose for India, but hog unnecesary space in the media.
                                            Reply
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