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Business Standard
4 days ago
- Business
- Business Standard
MMR region can become $1.5-trillion growth hub, says Maharashtra CM
Maharashtra Chief Minister Devendra Fadnavis attended the CREDAI-MCHI Change of Guard 2025 event on Thursday and congratulated the new president, Sukhraj Nahar. At the event, the CM mentioned, "We can build a city bigger than Dubai and even better than that in Mumbai." Further, the Maharashtra Chief Minister Devendra Fadnavis said, "Maharashtra was the first state to adopt RERA, which has been the most successful in the state, bringing about significant changes." Talking on ease of doing business, the Maharashtra CM said, "The World Bank appreciated our efforts of bringing ease of doing business in Mumbai, and if you look at the report of the World Ban,k it's actually appreciated the efforts taken by the government and BMC bringing ease of doing business but still agree we have to do more. This is my first programme where you didn't ask me to reduce the premium. Today (Thursday), we delivered the first phase of the BDD chawl redevelopment, a significant milestone. "Over the last 10 years, whenever we've claimed that housing will be affordable, the price of housing has increased in Mumbai. Even after reducing the premium, the housing prices have not come down. We expected that building Coastal Road or Atal Setu would lower the price, but instead, it has skyrocketed after construction," said the Maharashtra CM. Talking about the development in Mumbai, Fadnavis said, "The Bandra Versova sea link is 60 % complete. It will be completed in the next 2 years. MMR Region has the potential to become even $ 1.5 trillion. Once our orange gate tunnel is completed, travelling from Marine Drive to the new Mumbai airport will take approximately 20 to 25 minutes." "We can build a city bigger than Dubai and even better than that in Mumbai. This is our potential. We can do a transformation in the next 10 years," he added further. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Time of India
23-07-2025
- Business
- Time of India
Assam govt incentivises Japanese language learning for youth
Guwahati: The Assam Government has decided to incentivise the Japanese language learning for the youths of Assam across the state and said that the state government will give a scholarship of Rs. 1.5 lakh to each student who pursues Japanese language. The State Cabinet has approved to launch the scheme, namely Chief Minister's Foreign Language Initiative for Global Human Talent (CM-FLIGHT), to provide structured foreign language training (eg, JLPT N2 level) and facilitate overseas employment of Assamese youth under various overseas visa programmes in other countries. Explore courses from Top Institutes in Please select course: Select a Course Category A pilot project will be implemented in the current financial year through the three agencies. These agencies will impart Japanese language training and facilitate overseas employment of Assamese youth under Japan's Specified Skilled Worker (SSW) visa programme. It will create significant employment opportunities for the local population by facilitating overseas placements. It will help in addressing the issue of unemployment and underemployment in Assam by providing access to the international job market. Assam chief minister Himanta Biswa Sarma said that the minimum salary for the youths in Japan is Rs. 2.5 lakh per month. "The average age of people in Japan is 48 years and in Assam the average age of people is 22 years. So, there is lots of scope for the youths from Assam to seek employment in Japan. Initially we are selecting 3000 youth for the Japanese language in the first phase," he said Live Events The Assam government decided to take a loan of Rs. 2750 crore from the World Ban for the education sector in Assam. Sarma said that the state's share in the loan will be 10 percent while the Central government will return the 90 percent of the loan. 'We are going to use this loan amount for training the teachers on maths and science, training the head teachers at the school on management, to promote work on science and technology and to stop school dropouts in Assam,' he said 'A total of 400 schools in the state will get Rs. 3 crores to Rs. 5 crore each to develop their infrastructure and will spend about Rs. 25 lakh each for upgrading about 1733 Anganwadi Centres in the state,' he said. The Chief Minister said that this will help revamp the education sector in Assam and will lead to a positive change. The State Cabinet has approved the Collective Infrastructure Development of Apartment Buildings through Funding from MLALADS and United Fund to ensure government welfare schemes reach the residents of these apartments. The Eligibility criteria for getting benefits under the Scheme include the minimum number of apartments in a building should be 16, the society must be registered under the Societies Registration Act, at least 80% of the apartments should be occupied.
Yahoo
04-02-2025
- Business
- Yahoo
Opinion - Project 2025's World Bank plan would backfire on America
Project 2025's call for U.S. withdrawal from the World Bank threatens to hand America's competitors a historic victory. While the blueprint correctly diagnoses the bank's inefficiencies, its prescription would be catastrophic for U.S. interests. Having moved from World Bank leadership to private sector corporate affairs, I can attest that it needs urgent reform — but abandoning it would be a strategic blunder of the highest order. The World Bank, for all its faults, remains America's most powerful tool for global development leadership. When I led health reforms in countries from Armenia to Romania, I saw firsthand how its technical expertise and convening power advanced both development goals and American interests. In almost every case, countries chose the World Bank over other partners because of its unique ability to mobilize resources and expertise at scale. However, Project 2025's criticism isn't entirely wrong. The bank's operating model desperately needs modernization. Drawing from my private sector experience, three market-based reforms could transform the institution's effectiveness while preserving American leadership. First, revolutionize the workforce strategy. While private sector companies embrace flexible contracting to match staffing with evolving needs, the World Bank remains wedded to lifetime tenure for most positions. This rigidity wastes resources and stifles innovation. The bank should adopt private sector-style staffing models that prioritize impact over job security, while maintaining core institutional knowledge. Second, implement systematic market segmentation. The World Bank's current country-by-country approach to defining priorities is inefficient and often politically driven. Instead, it should develop a comprehensive market taxonomy — similar to how private companies segment markets — to determine where and how to invest resources. This would prevent the wasteful tendency to try everything everywhere and enable more strategic resource allocation. Third, rationalize the development finance landscape. Multiple agencies offering similar services with different terms creates inefficiency and enables 'double-dipping' by borrowers. The U.S. should lead efforts to coordinate development partners and establish clear divisions of labor, similar to how private sector companies form strategic alliances to maximize impact. Critics might argue these reforms are too difficult to implement in a multilateral institution. But the alternative — U.S. withdrawal — would create a dangerous vacuum. China, through initiatives like the Asian Infrastructure Investment Bank and the Belt and Road Initiative, stands ready to fill any void left by American retreat. The resulting loss of U.S. influence would far outweigh any short-term savings from withdrawal. The new administration, currently debating World Bank funding, should instead use America's position as the bank's largest shareholder to drive these reforms. By modernizing the World Bank rather than abandoning it, the U.S. can maintain its global leadership while ensuring development dollars deliver maximum impact. The World Bank isn't perfect, but it's an invaluable instrument of American soft power and global development. The solution isn't to destroy it, but to transform it. In an era of intensifying great power competition, that's not just good development policy — it's smart foreign policy. Dr. Adanna Chukwuma is a physician and development strategist with leadership experience in the World Bank and Fortune 500 companies. She holds degrees from Oxford and Harvard Universities and is a fellow of the OpEd Project. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
