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As predicted by the Indian Meteorological Department the first monsoon rains struck the Kerela coast right on dot - 31st of May. After coming out of a very difficult year on account of global economic crisis and drought, the behaviour of monsoon this year is crucial for the country's economy. But having made a good beginning one can hope for a good agricultural output to ease supply side pressures on food inflation. Monsoon rains are important for rice, grains, cane, soybean, oilseeds etc. Incidentally, India is the largest importer of oil seeds and biggest consumer of sugar in the world.

Managing Indian Railways is no child's play. However, the shabby on-ground performance of the railways since the regrouped United Progressive Alliance (UPA II) came to power last year and the railways got a new minister gives an impression that the government is least bothered about how the country's largest public sector movers of people and material is being run. As a result, rail travel is becoming increasingly a nightmare for rail passengers, rail employees and their near ones. Last year, the railways recorded 170 major accidents, killing over 2,000 people and permanently incapacitating a few more thousands.

GUWAHATI: CBI and Assam police authorities have tracked down and arrested four men involved in the serial blasts that accounted for 88 lives and much destruction of property, on October 30, 2008.

Executive Directors of the international Monetary Fund (IMF) have commended the authorities for their flexible and prudent fiscal policy, and proactive steps to enhance financial sector stability in the wake of the global crisis. Following a mild contraction, the economy is slated for modest but stable growth in the coming years, and higher growth could be achieved through the successful implementation of diversification initiatives and sound management of oil resources.

Executive Directors of the International Monetary Fund (IMF) have noted that Luxembourg, with its open economy and large internationally-integrated financial sector, experienced a severe shock from the global financial crisis. They commended the authorities' prompt and forceful policy response, which safeguarded the financial sector. At the same time, Luxembourg's strong fiscal position provided room for fiscal policy to support the economy and protect household incomes. While the economy has stabilized and growth has resumed, the balance of risks remains on the downside. Directors encouraged the authorities to address the vulnerabilities exposed by the crisis.

As a result of details provided to the Global Forum on Transparency and Exchange of Information for Tax Purposes, Brazil and Indonesia are now ranked in the category of jurisdictions that have substantially implemented the internationally agreed tax standard.

WASHINGTON - The World Bank will continue its support to the implementation of the Growth and Poverty Reduction Strategy Framework (2007-11), while helping Mali weather the lingering effects of the food and global crisis, through a budget support credit in the amount of SDR 46.5 million (US$70.5 million equivalent), including SDR 10.3 million (US$15.5 million equivalent) from the Crisis Response Window.

WASHINGTON - The Government of Mali will benefit from a multi-donor investment of US$160 million to increase the productivity of smallholder agricultural and agribusiness producers and to increase the use of sustainable land and water management (SLWM) practices.

WASHINGTON - The World Bank's Board of Executive Directors has approved a loan of $84 million to the People's Republic of China to assist Chongqing Municipality's efforts to meet the challenges of rapid urbanization. The project aims to increase resident access to improved public services including roads, water supply, employment training, and primary health care.

WASHINGTON ― The World Bank has approved a US$ 495 million loan to Brazil, in support of the Eletrobras Distribution Rehabilitation Project. The project will increase quality of service and operational performance of six state power distribution utilities located in Brazil's poor North and Northeast regions. Approximately 3 million people in 118 municipalities, an area equivalent to Colombia and Bolivia combined, will directly benefit from improved power reliability.