The World Bank loaned China $1.3 billion in the fiscal 2019 year ended June 30, down from about $2.4 billion during fiscal 2017.

Notably, many analysts have been calling for urgent reforms in the factor markets, especially regarding land and labour, to get the economy out of the trough, citing the strong political mandate the government enjoys

Net collection of both direct and indirect taxes has seen a significant decline; lower tax collection means the Centre may fail to meet its fiscal deficit target of 3.3 per cent of the GDP 

Net tax revenue has to grow 42 per cent to achieve FY20 budget target of Rs 16.5 lakh crore, which appears to be a daunting task, says Dr. Devendra Pant, Chief Economist, India Ratings and Research (Fitch Group)

Different tax structures for equities market may be rationalised to almost a single tax structure. Finance Ministry wants to announce these tax cuts in the upcoming Budget, but the PMO may push for early announcement

Innovations in financial sector and openness and improvements in governance structures can help India achieve Prime Minister Narendra Modi's goal of $5 trllion economy target, says David Malpass, president, World Bank Group

FPIs have been net buyers for the second consecutive month. In September, FPIs invested a net Rs 6,557.8 crore in the domestic capital markets (both equity and debt).

\"Prime Minister Modi has a goal of USD 5 trillion dollar economy. It will be assisted by innovation in the financial sector,\" he said.

With regard to the Ease of Doing Business ranking, Malpass said India has been among top 10 countries in the last three years and it has moved from 140th place to 63rd

A former French finance minister, Lagarde was the first woman to head the IMF

As World Bank MD and CFO, Kant will be responsible for financial and risk management of the World Bank Group, reporting to the President.

All 13 presidents of the development lender have been American men

Earlier in his career, Malpass served as the US Deputy Assistant Secretary of the Treasury for Developing Nations and Deputy Assistant Secretary of State for Latin American Economic Affairs.