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Indus Water Treaty: India to Participate in the PIC Meet at Lahore

India to participate in bilateral talks with it’s bordering country Pakistan in Lahore. The Permanent Indus Commission (PIC) meeting would be scheduled in the month of March.

The IWT meeting’s agenda would be the implementation of the Indus Waters Treaty. Indian Government has called off by IWT in September due to the Uri terrorist attacks. The latest development suggests a change in India’s approach towards its Rival country.

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It is reportedly known that World Bank Officials have mediated for the talks between the two nations. After two months of mediation by the world bank, India changed its decision and given their consent for the meeting.

Officials had talks with Pakistan and made them to sent the Invitation of the IWT to India. The Indus water treaty is one of the old and fruitful International conflict resolution agreements. The treaty was made in the year 1960 Which resolved the water sharing issues between the two countries. Everything was fine between India and Pakistan in the distribution of the water until last year September.

Arundhati Bhattacharya will be India’s nominee for World Bank MD and COO post

According to the IWT, the Permanent Indus Commission meet must be organized Annually by the two nations alternatively. The agenda of the meeting will be decided by the hosts.The PIC constitues of officials from both India and Pakistan

India reviewed the Indus water treaty after the Uri terrorist attacks and hinted to block the water flow into the neighbor nation.It is a known fact that Indian Prime Minister Narendra Modi and Pakistan PM Nawaz Sharif shared a good relation, but it was before the terrorist attacks and surgical strikes done by the Indian Army.

If everything goes fine in the Lahore Meet, it is expected there would be change in the two rival countries approach towards each other. World Bank should be credited for making this possible.

Arundhati Bhattacharya will be India’s nominee for World Bank MD and COO post

Arundhati Bhattacharya for top post at World Bank

Arundhati Bhattacharya (60 years of age), present chairperson for State Bank of India (SBI) will be a nominee from India for the post of Managing Director (MD) and Chief Operating Officer (COO) at the World Bank

She will become the first Indian ever to hold the office if she is selected for the third most key post in the World Bank Group. She will replace the Indonesian economist Sri Mulyani Indrawati. She returned to her country as Finance Minister in July 2016. The post was vacant since then after her resignation.

Sources say that Prime Minister Narendra Modi has also given his ascent for the nomination. PMO has initiated the required procedures for this process. She will directly report to the World Bank president.

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Arundhati Bhattacharya was ranked 25th in the Forbes 2016 list of ‘The World’s 100 Most Powerful Women’. This list features top female CEOs, leaders, investors, entrepreneurs, philanthropists, and scientists.

India’s former deputy chairman of the Planning Commission, Montek Singh Ahluwalia in the year 2001 was appointed as the first director of the independent evaluation office of the International Monetary Fund.

World Bank, a name that is quite commonly heard in almost every country of the globe. It is an international financial institution that provides loans. Developing and under-developed countries take loans for capital programs.

World Bank comprises of two institutions - International Bank for Reconstruction and Development (IBRD), and the International Development Association (IDA).

India’s GDP has Grown to 7.6% in 2016 : World Bank

This is a component of the World Bank Group, which is part of the United Nations system. South Korean-born Jim Yong Kim is the 12th present president of the World Bank Group. The World Bank Group headquarters bldg. In Washington, D.C.

India stands in the top ten countries regarding the voting eligibility in various departments of the World Bank Group.

India’s GDP has Grown to 7.6% in 2016 : World Bank

World Bank has announced that India’s GDP (Gross Domestic Product) has grown to 7.6 percent in the year 2015-16.  The World Bank has described about the South Asia as a global growth hotspot and it will remain robust upto 7.7 percent by 2017.

“In India, GDP growth will remain strong at 7.6 per cent in 2016 and 7.7 per cent in 2017, supported by expectations of a rebound in agriculture, civil service pay reforms supporting consumption, increasingly positive contributions from exports and a recovery of private investment in the medium term,” the World Bank said in its latest report on South Asia Economic Focus released yesterday.

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“However, India faces the challenge of further accelerating the responsiveness of poverty reduction to growth, promoting inclusion, and extending gains to a broader range of human development outcomes related to health, nutrition, education and gender,” the report said.

According to the reports of World Bank, the Indian economic growth will be supported to reduce poverty education that is facing from the past. The growth numbers of the last government revenue will reinforce the India’s position as the world’s fastest-growing largest economy.

With the strong growth in the fourth quarter comes at a time when China has reported 6.7 percent in the March quarter as it is the slowest growth from the seven years. In Pakistan, the economic activity will be gradually accelerated over medium term of 5.0 percent in 2017 and 5.4 percent in 2018 by building up the 4.7 growth in 2016.

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As per the reports, Growth in Bangladesh will be sustained upto 6.8 percent in 2017 from the coming slightly down from 6.1 percent in 2016.

“This year is expected to see some convergence in rural and urban economies, supported by stimulating policies, such as passage of GST and civil pay revisions, along with good monsoons,” the report said.

The World Bank said the economic growth remains robust, and the GDP growth is accelerated by 7.5 percent in the four quarters in June 2016 from average of 6.5 percent in the previous twelve quarters.