Tag: Indias

India’s foreign exchange reserves fall to $584.24 billion

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New Delhi: India’s foreign exchange reserves fell by $2.164 billion to $584.248 billion for the week ending April 21, according to data released by the Reserve Bank of India (RBI) on Friday.
In the previous reporting week, the overall kitty had risen by $1.657 billion to $586.412 billion.
Incidentally in October 2021, the country’s forex reserves had reached an all-time high of $645 billion.

In the period under review, the reserves fell mainly due to foreign currency assets (FCAs) shrinking by $2.146 billion to $514.489 billion.
The reserves have been declining as the RBI has used the funds to defend the rupee amid pressures caused mainly by global developments.
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#Indias #foreign #exchange #reserves #fall #billion

( With inputs from www.siasat.com )

April 28, 2023
India’s Rich Culture And Heritage Left Lasting Impression On G20 Delegates: Anurag Singh Thakur

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SRINAGAR: Union Minister for Youth Affairs and Sports Anurag Singh Thakur on Friday said that G20 under India’s Presidency has set new milestones for the country.
Maintaining that India’s rich art, culture and heritage has left lasting impression on the delegates from across the world, Union Minister said, “Around 103 delegates participating in the Y20 pre summit in Leh are mesmerized by the monasteries, sangam and landscape of Leh and they want to return to Ladakh again.”
Stating that despite statements by many that the pre summit should not be organized in Leh, the Y20 pre summit concluded successfully.
haring details on the outcomes of the Pre Summit in Leh, Union Minister said that there is a consensus on the five themes of Y20 summit among the participating countries and international organizations. He also informed that important suggestions have come on the future challenges including reskilling and Upskilling. |
“The meeting focused on the five Y20 themes of Shared Future: Youth in Democracy and Governance ; Future of Work: Industry 4.0, Innovation & 21st Century Skills; Climate Change and Disaster Risk Reduction: Making Sustainability a Way of Life; Peace Building and Reconciliation: Ushering in an era of No War and Health, Wellbeing & Sports: Agenda for Youth,” he said.
Earlier the Union Minister held Yuva Samvaad with the delegates and said that the runway is ready for youth to take off, whether it is for economy or education, sports or entrepreneurship,skill development or digitisation, and the youth – now have a mission to make a global impact.
He also said that the Y20 summit is providing an extraordinary opportunity for the youth and the world alike to shape their national as well as international discourse and in many ways be proactive in finding solutions to problems our respective regions face.
He further remarked, “I am confident that the young generation will make the advancements of the last century look miniscule compared to the milestones that this new (youth) generation will discover.”

He said that Young people should know that you are living in the greatest time to be alive and encouraged them to – Dream, read, write, think and act fearlessly.
He also added that the Y20 themes have been carefully selected to empower young people to create, collaborate, and contribute to the G20’s development agenda and the global community as a whole.
“We firmly believe, that at the end of this decade, emerging technologies such as artificial intelligence, machine learning and the internet will have evolved significantly and data science would have occupied much deeper parts of our lives. Youth should be prepared with these skills,” Thakur said.
He urged that Youth must move away from the constraints of the past and exploit the opportunities of the present, to unleash the potential of their countries in the future!

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#Indias #Rich #Culture #Heritage #Left #Lasting #Impression #G20 #DelegatesAnurag #Singh #Thakur
( With inputs from : kashmirlife.net )

April 28, 2023
Spurred border tensions: India’s 2022 military spending rose by 6%

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New York: Spurred by tensions along its borders, India’s defence spending rose by nearly six per cent to $81.4 billion last year, ranking it fourth in military expenditures, according to an analysis by SIPRI, the premier think-tank tracking military spending.
The increase in India’s spending was attributed to “the effects of its border tensions with China and Pakistan” by the Stockholm Peace Research Institute better known by its initials, SIPRI, in the latest edition of its Trends in World Military Expenditure report released this week.
New Delhi’s “expenditure on capital outlays, which funds equipment upgrades for the armed forces and to the military infrastructure along its disputed border with China, amounted to 23 per cent of total military spending in 2022,” it said.

China, the second highest military spender, is estimated to have spent $292 billion last year, the report added.
The military expenditure of Pakistan, which is facing a financial crisis, shrunk to $10.3 billion from $11.3 billion in 2021, according to SIPRI data.
Personnel expenses like salaries and pensions “remained the largest expenditure category in the Indian military budget, accounting for around half of all military spending,” the report said.
India’s military expenditure was $76.6 billion in 2021, according to SIPRI.
Despite the increase, India’s ranking in military expenditures slid from third place in 2021 to fourth because Russia, which had been in fifth place that year, ramped up its spending by 9.2 per cent to $86.4 billion in a year that it invaded Ukraine to displace India, according to the report.

With $877 billion in military spending last year, the US dwarfed all others, accounting for 39 per cent of the global military spending of $2.24 trillion, according to the report.
China’s share of the total military spending was 13 per cent, while India’s share was 3.6 per cent, the report said.
Saudi Arabia, with an increase of 16 per cent from the previous year to $75 billion leapfrogged from the eighth spot to the fifth spot displacing Britain, which spent $68.5 billion, according to the report.
Another Gulf region country Qatar, increased its military spending by 27 per cent to $15.4 billion, while Kuwait showed a decrease of 11 per cent to $8.2 billion, it said.
According to the Trends report, China’s military expenditure has increased for 28 consecutive years, “the longest uninterrupted period of spending growth made by any country in the SIPRI Military Expenditure Database”, but it was showing signs of slowing down.
“The growth rate of 4.2 per cent in 2022 was the second lowest rate of annual growth recorded by China since 1995”, with the lowest rate in the period being 2.6 per cent in 2021, it said.
The spending pattern follows priorities reaffirmed by the Communist Party Congress last year, “which placed a strong focus on boosting China’s arms-industrial base and promoting emerging military technologies, including military applications of artificial intelligence,” according to the report.
Military spending calculated as a share of the GDP was 2.4 per cent for India, an estimated 1.6 per cent for China and 2.6 per cent for Pakistan.
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( With inputs from www.siasat.com )

April 27, 2023
Bangladesh Army chief to hold talks with India’s military brass

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New Delhi: Bangladesh Army Chief Gen SM Shafiuddin Ahmed will embark on a three-day visit to India beginning Thursday with an aim to bolster bilateral military cooperation.
Gen Ahmed is set to begin his visit to India by paying tributes to the fallen heroes at the National War Memorial in New Delhi, officials said.
The visiting general will also be accorded a guard of honour at the South Block lawns in the Raisina Hills.

Later in the day, Gen Ahmed is expected to hold wide-ranging talks with Army Chief Gen Manoj Pande.
Gen Ahmed is also likely to meet Navy Chief Admiral R Hari Kumar and Air Chief Marshal VR Chaudhari.
Gen Pande visited Bangladesh in July last year during which both sides vowed to expand their military cooperation. It was his first trip abroad after taking the reins of the 1.2 million strong force.
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( With inputs from www.siasat.com )

April 26, 2023
India’s vision for healthcare is universal, says PM Modi

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New Delhi: Prime Minister Narendra Modi on Wednesday said that India’s vision for health was universal even when there were no global pandemics.
While inaugurating virtually the 6th edition of Advantage Healthcare India (AHCI) 2023 (One Earth One Health) in the national capital, Modi said that India’s goal is physical, mental and social well-being for all.
“True progress is people-centric. No matter how many advances are made in medical science, access must be assured to the last person at the last mile,” he said.

The Prime Minister underlined the significance of Yoga and meditation, saying these are ancient India’s gifts to the modern world that have now become global movements.
“India’s traditional healthcare systems hold a lot of answers to stress and lifestyle diseases,” the Prime Minister said, adding that India’s goal is to make healthcare accessible and affordable, not only for its own citizens but for the whole world.
He further elaborated that the world has witnessed the impact of Indian doctors, nurses and caregivers and they are widely respected for their competence and commitment and talent.
Modi stated that many healthcare systems across the world have benefited from the talent of Indian professionals.
The Prime Minister further said that India is proud to have been a partner to many nations in the noble mission of saving lives through vaccines and medicines giving examples of Made-In-India vaccines, the world’s largest and fastest Covid-19 vaccination drive, and shipping 300 million doses of Covid-19 vaccines to over 100 countries.

Modi reiterated that it showed a glimpse of India’s capability and commitment and the nation will continue to be a trusted friend to every nation that seeks good health for its citizens.
The Health Ministry in association with the Federation of Indian Chambers of Commerce & Industry (FICCI) has co-branded the 6th edition of Advantage Healthcare India (AHCI) 2023 (One Earth One Health) with India’s G20 Presidency and the event is being held on April 26 and 27 at Pragati Maidan, New Delhi.
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#Indias #vision #healthcare #universal #Modi
( With inputs from www.siasat.com )

April 26, 2023
Kerala: PM Modi to flag off India’s first Water Metro in Kochi

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Kochi: Prime Minister Narendra Modi will flag off India’s first Water Metro that connects 10 islands around Kochi through battery-operated electric hybrid boats for seamless connectivity with the city.
Water Metro is a unique urban mass transit system with the same experience and ease of travel as that of the conventional metro system. It is very useful in cities like Kochi.
“Kochi’s water metro project is a unique project which will be inaugurated by the Prime Minister. This is a game-changing transport system because Kochi is surrounded by many islands and out of them 10 islands are very important and thickly populated,” Managing Director, Kochi Metro Rail Limited told ANI ahead of PM Modi’s visit to Loknath Behera.

“Those who depend on main lands will be getting a sustainable, regular, and luxurious transport system at a very affordable price,” he added.
According to the officials, the Modi government has made a conscious choice to avoid a one-size fits all approach in providing infrastructure and connectivity. A prime example of this approach is seen in the expansion of metro connectivity in the country.
Prime Minister Modi, who is on a visit to Kerala, will lay the foundation stone and inaugurate various projects worth more than Rs 3200 crore.
Apart from Kochi Water Metro, rail electrification of the Dindigul-Palani-Palakkad section will also be dedicated by PM Modi.
During the event, PM Modi will also lay the foundation of various rail projects including the redevelopment of Thiruvananthapuram, Kozhikode, and Varkala Sivagiri railway stations; comprehensive development of Thiruvananthapuram area including Nemon and Kochuveli and increasing of sectional speed of Thiruvananthapuram-Shoranur section.

Earlier on April 24, the Prime Minister who landed in Kerala for a two-day visit, held a mega roadshow in Kochi on Monday.
Sporting traditional Kerala attire, PM Modi walked through the streets of Kochi. People queued up on both sides of the road and cheered for the Prime Minister. They also showered flower petals on him. PM Modi was also seen shaking hands with people.
After walking for over 15 minutes, the security personnel escorted him to an SUV.
He will flag off Kerala’s first Vande Bharat Express between Thiruvananthapuram and Kasargod at Thiruvananthapuram Central Station on Tuesday.
According to Prime Minister’s Office (PMO), the train will cover 11 districts namely Thiruvananthapuram, Kollam, Kottayam, Ernakulam, Thrissur, Palakkad, Pathanamthitta, Malappuram, Kozhikode, Kannur and Kasargod.
PM Modi will also lay the foundation stone of the Digital Science Park in Thiruvananthapuram.
According to Prime Minister’s Office (PMO), Digital Science Park is envisaged as a key research facility to develop digital products and services by industry and business units in collaboration with academia.
As a third generation Science Park, the Digital Science Park will house common facilities to support the development of products in the area of Industry 4.0 Technologies like AI, data analytics, cyber security, smart materials etc, said the PMO statement.
The state-of-the-art basic infrastructure will support high-end applied research by industries and the co-development of products in association with the Universities. The initial investment for Phase-1 of the project is around Rs 200 crore while the total project outlay has been estimated at around Rs 1,515 crore.
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#Kerala #Modi #flag #Indias #Water #Metro #Kochi
( With inputs from www.siasat.com )

April 25, 2023
JK’s Industrial Development To Fuel India’s Future Growth: LG Sinha

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SRINAGAR: Lieutenant Governor Manoj Sinha addressed ‘North Zone MSME Conclave & Investors Meet’ organised by Laghu Udyog Bharati, on Sunday.
The Lt Governor shared the key initiatives of JK administration to facilitate the MSMEs in the UT and to harness its unlimited potential.
“Under the guidance of Prime Minister Narendra Modi, Government has taken a number of steps to promote growth and development of MSMEs in the country. Today, MSMEs account for more than 30% of India’s GDP and 49.5% of exports, thus contributing significantly to economic growth,” said the Lt Governor.
“The future economic growth will be driven by the MSMEs. We have taken several steps in the UT such as investment in innovation skills, MSME-centric industrial estates, access to financing, incentives and adequate infrastructure to boost the growth of MSMEs,” the Lt Governor added.
Underscoring the important role of private sector in the UT’s growth, the Lt Governor asked the potential investors to take advantage of the business-friendly environment developed for the industries.
“J&K is emerging as a vibrant, fastest growing and most attractive investment destination. Today, the world is recognizing the all round transformation taking place in Jammu Kashmir. Renowned companies from across the country and abroad are looking forward to invest here. I welcome Industry leaders to be part of this journey”, said the Lt Governor.
Industrial development in J&K aims to create more inclusive, creative and sustainable society. The UT will play an important role as new engine of India’s growth in the future. New Industrial Scheme focuses on enabling environment to create jobs and increase productivity, he added.
Speaking on the effective measures taken in order to promote MSMEs, the Lt Governor said, 25% procurements from MSMEs have been made mandatory for Government departments & Public sector undertakings and local filter has also been made operational on GeM platform.

Since the launch of Udyam Registration portal in 2020, two lakh MSME units have been registered in J&K. As many as 38,000 micro and small enterprises are run by women. In the last financial year, 18,000 women-owned enterprises were provided assistance of more than Rs 500 Crore under credit guarantee scheme, said the Lt Governor.
On the progress registered to boost the MSME sector, the Lt Governor said, under PMEGP, an unprecedented 21,640 manufacturing and service units were established in 2021-22. As many as 42 industrial estates will be set up in Jammu Kashmir in the next few years and out of these 34 industrial estates will be focused on MSMEs, noted the Lt Governor.
All 20 districts are being developed as export hubs and emphasis has been laid on the promotion of products which will boost MSMEs’ growth, he added.
There is immense potential for MSMEs in the field of Integrated Processing Facility, Mega Food Park and Cold Chain Logistics. The Holistic Agriculture & Allied Sector Development Plan worth Rs 5013 crores will boost the growth of MSMEs in J&K UT, observed the Lt Governor.
The Lt Governor highlighted the efforts for reforms and strengthening of industrial ecosystem.
Massive reforms in terms of basic amenities, infrastructure and banking facilities have ensured stability and made the UT’s growth more inclusive, said the Lt Governor.
The work done for industrial development of J&K is clearly visible. In the last two years, Jammu Kashmir has received 5,372 investment proposals worth Rs 70,000 crore. Proposals worth Rs 24,000 crore from more than 1,800 companies have been approved, he added.
The Lt Governor said the UT Government is making dedicated efforts for GI tagging of niche & premium local products while the export in carpet and pashmina is witnessing an upward trend. We are promoting village industrial units and self-help groups and also developing human resources for Industries 4.0, he added.
The Lt Governor also spoke on the ongoing road infrastructural and other projects to strengthen the connectivity. He further highlighted the land reforms introduced in the last three years and the measures taken to ensure land availability for industries.

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#JKs #Industrial #Development #Fuel #Indias #Future #Growth #Sinha
( With inputs from : kashmirlife.net )

April 23, 2023
Top US official Donald Lu praises India’s press freedom

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A top US official has praised India’s press freedom and the importance of journalists in promoting democracy in the world’s most populous country.
US Assistant Secretary of State for South and Central Asia Donald Lu stated that “there is nothing that’s kept secret there. You have India as a democracy in part because you have a free press that really works.”
“I know the media market is changing. But I have such respect for the freedom of the press in India. There is nothing that’s kept secret there. You have India as a democracy in part because you have a free press that really works,” Lu told PTI in Washington.

“I can remember going into MEA (Ministry of External Affairs) once and seeing a senior person with files stacked up to the ceiling because he was processing a Right For Information request. And he was complaining bitterly about having to do this and I could only laugh because we have to do the same thing in our bureaucracy where if someone asks for a document, I have to spend several days finding the document for them because that’s what democracy does,” he said.
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( With inputs from www.siasat.com )

April 22, 2023
Air India’s HR policies, draconian, unethical: Pilot bodies

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Chennai: Terming the human resource (HR) policy of Air India Ltd as “draconian approach” and “driven by a lack of trust”, two pilot bodies have appealed to the Tata Group Chairman N. Chandrasekaran to intervene and rectify the situation.
“Tata has always prided itself on its fair and ethical practices. However, the actions of the HR department with regard to the pilots are completely contrary to these values. The pilots are being subjected to unfair treatment. It is clear that the HR department is flouting the laws and regulations that are in place to protect the rights of employees. The pilots are being subjected to a hostile work environment,” says a joint letter by the Indian Commercial Pilots’ Association (ICPA) and Indian Pilots’ Guild (IPG).
“It is imperative that the spiteful ideology of the Human Resource department (of Air India) be addressed promptly to prevent any potential adverse effects on the growth prospects of our esteemed airline,” the unions told the Chairman.

The pilot unions said they were hopeful and excited when the Tata Group bought the Air India as the group was reputed to “have the most phototropic and holistic management style amongst the leading organisations of the world”.
The unions said the HR department of Air India appeared to be focused on dismantling, restructuring, or even replacing the human assets of the airline.
“HR policies characterised by a draconian approach, driven by a lack of trust and aimed at curtailing the autonomy of employees, began to roll out,” the unions alleged.
According to the unions, the response of Air India’s human resources department to their issues were at odds with the public perception of the Tata Group as a compassionate employer known for their empathy towards their employees.
“The philosophy of the current HR leadership at Air India appears to be significantly divergent from the esteemed and compassionate principles espoused by the late Mr. JRD Tata and the Chairman Emeritus, the respected Mr. Ratan Tata,” the joint letter notes.

The unions are against the Air India’s move to unilaterally change the service conditions of some of the pilots in the guise of promotion.
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( With inputs from www.siasat.com )

April 22, 2023
India’s need for water increasing with growing population: Shekhawat

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New Delhi: With India becoming the most populous country in the world, its need for water is increasing, Union Minister Gajendra Singh Shekhawat said here on Thursday.
The central government is working towards fulfiling the country’s water requirement, the Jal Shakti minister said at the 16th Civil Services Day.
According to United Nations estimates, India has become the most populous country in the world with 142.86 crore people.

“We have become the most populated country in the world though the official figures are yet to come out. We are also the fastest growing economy in the world and our need for water is also increasing,” he said.
Underlining that water-bearing capacity has to be increased, Shekhawat said while the country’s present requirement of water stands at 1,100 billion cubic metres, it is likely to exceed the 1,500 billion cubic metre-mark by 2050.
The minister highlighted that the BJP-led central government concentrated on the last mile saturation.
“But achieving last mile saturation needed a lot of work and bureaucrats played a very important role in fulfilling India’s target set under the Jal Jeevan mission,” he said, adding, “This government gave freedom to bureaucrats to work freely”.
Shekhawat added that development work done by India has inspired the whole world.

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#Indias #water #increasing #growing #population #Shekhawat
( With inputs from www.siasat.com )

April 20, 2023