Brexit uncertainty not good but India doing well: World Bank's Kim to NDTV
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Britain's exit from the European Union has led to "economic uncertainty which is not good but India seems to be doing quite well," World Bank President Jim Yong Kim has told NDTV in his first comments since Brexit. In an exclusive interview to NDTV, Dr Kim, who met Prime Minister Narendra Modi earlier today in Delhi, said he was concerned by the uncertainty in the world economy. "The uncertainty has led to fluctuations in currency, we see that UK has been downgraded two notches by one of the ratings agencies and this is very serious...to go down two notches at the same time. I am concerned, but unfortunately, right now we don't know which direction it's going to go." He also cautioned countries on turning "inward", saying multilateralism is critical. "Multilateralism is one of the great hopes for peace and prosperity. If you want to tackle inequality, you cannot have closed borders," he said. Dr Kim, however, held out hope for India, predicting "slightly higher growth" next year. He said: "India seems to be doing quite well. India has been growing rapidly. Its connections to UK is of course very strong but economically there was a one-day blip in the stock market but then now things have now seemed to calmed down. So it is good news for India." Asked on GDP numbers, which some economists have questioned, Dr Kim said: "We are as close to these numbers as anyone and this is not an exact science, and there is no physics in this. There are many people who question China's growth numbers. There are many people who question everybody's growth numbers. This is not a mathematical, scientific, exact snapshot. It is taking many indicators and then in a consistent way doing the best we can to make an estimate." On the exit of Reserve Bank of India (RBI) Chief Raghuram Rajan, the World Bank Chief said he did not believe it would impact India's policy. "I think both Raghu and PM Modi and the government have been communicating very effectively about it. He was a great central bank governor, tremendously respected. Respected as an academic before he came to Reserve Bank and then respected in how clearly he communicated in the things that he did. What I have heard from talking to PM Modi and members of his team is there is not going to be much of a change. They are going to continue to have independent central bank governor, an independent central bank...and the policies that have led to good outcomes so far economically will continue." The World Bank Chief had huge praise for the prime minister as he said: "PM Modi has set some incredibly difficult targets for his team and what I have seen is that along with us there is just an all-out effort to reach those targets. A couple of examples, the cleaning up of the Ganga, this is a huge project and they are moving much faster than I thought they ever would be able to. Swachh Bharat is one of the most important programs for India, not just for sanitation but for the health of young children for example, that's moving much more quickly than we had ever thought." Watch full video: http://www.ndtv.com/video/business/left-right-centre/brexit-uncertainty-not-good-but-india-doing-well-world-bank-s-kim-to-ndtv-421979?yt Download the NDTV news app: https://play.google.com/store/apps/details?id=com.july.ndtv&referrer=utm_source%3Dyoutubecards%26utm_medium%3Dcpc%26utm_campaign%3Dyoutube
Comments
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Biitch Nidhi Razdan of NDTV is disappointed that World Bank President is praising PM Narendra Modi ji development work in India,
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Where are the haters? lol
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Mr. Jim Yong Kim nailed it !!
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Hats off Nidhi Razdan. Excellent interview.
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World Bank Chief praising Modi at every level, but the bitch Nidhi always brings up negative aspects about the government and Modi. NDTV is NO DICKS TV because there are only bitches.
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Nidhi Razdan of NDTV is uncomfortable with Shri Jim Yong Kim's praise for Indian leadership of PM Shri Modi and now India as a bright spot amongst other non-performing economies both developed and developing economies. Just Modi-haters ready to bury Bharat.
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another slap at 14:00 on GDP
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slap on ndtv face at 11:00
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lady SRIRAM, what happened to NDTV. They are telling SRIRAM .... !!@😊
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He is spot on about middle class.
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Great talk by the CB chief. I feel like he gave a threat. Either accept central banks or be prepared for wars. Good deal, globalization it is.
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look like they are(NDTV) not happy with Mr. Jim Yong Kim answer. :D
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Oh gosh, Nidhi the whore, the presstitute from Kashmir begs another good one. I really hope to give her a bit of DYKE action one of these days. I bet her thong goes bizerk when she sees another attractive female.
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Why does NDTV post partial videos of so many shows, be it LRC or The Buck Sops Here or the Big Fight or We the People, etc. etc. Why do you do that? Are you guys just ignorant or lazy or worse? Even if you have a constraint of posting say up to 15 min. long videos (which I don't think you do, as I've seen about 50 min videos on this site), you could post them in different parts that are stitched together to be called up one after the other or which the viewer can click on sequentially,
Also, the reason that I'm on the ndtv youtuble site is that the ndtv site which has the full videos is so loaded with flash-based ads on each page, that flash plays the main video in a jerky or slow way and ultimately crashes after a few mons. When can Indians learn to not be such greedy baniyas (e.g., Indian cricet channels are similarly loaded w/ ads at every opportunity and cricket vieweing becomes very unenjoyable) and have a better sense of balance between economics/profit and enjoyable/pleasant living. Developed countries like USA and UK have achieved that balance and seeing shoes on their channels is so much more pleasant, but indians, as has been the case for a very very long time are just small-thinking myopic greedy baniyas which ends up destroying all semblance of real progress for the people and the nation (which is why we are still so poor, so heavily populated and have such filthy environments). So NDTV can you be less greedy and clean up your pages as well as post full videos on your youtube site? -
Nidhi...u tried hard to let down Modi Govt. by ultimately asking about authenticity of GDP nos., but unfortunately u didn't succeed. Hats off to Jim Yong Kim......better luck next time Nidhi!!!
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