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Sitharaman meets World Bank President Mr David Malpass in Washington D.C.

On Saturday, Union Minister for Finance Nirmala Sitharaman and World Bank Group President David Malpass met in Washington D.C., to discuss various issues.

The topics included India’s continued recovery from COVID-19 pandemic; impact of the Russia-Ukraine conflict on the world economy and India in particular, economy and role of the WBG, and many more.

The Finance Minister stated that India’s pandemic response has focused on the twin goals of saving lives and livelihoods. India has been successfully running world’s second largest vaccination programme, administering more than 1.85 billion doses of vaccine.

Sitharaman mentioned that India remains concerned about the risks to global recovery due to rising uncertainty amidst enhanced geopolitical tensions.

The Finance Minister suggested that the multilateralism has become more critical as the world is undergoing a phase of exceptional uncertainty. On account of the pandemic and the recent geo-political developments, there is a need for the World Bank to come to the rescue of countries facing debt stress. In particular, the World Bank needs to pay special attention to Sri Lanka, which is facing an unprecedented economic situation.

Sitharaman highlighted the India’s roadmap for infrastructure development and look forward to World Bank’s continued support for financing investments for the National Infrastructure pipeline and Gati Shakti programme.

India only country among top 10 nations to register growth in steel production in Jan-March

Union Steel Minister Shri Ram Chandra Prasad Singh congratulated the Indian steel industry for sterling performance at a global level and encouraged them to sustain this level of performance in the year 2022.

Such momentum of production will help India reach the targeted level of 500 million tonne production capacity in the next 25 years of Amritkaal, he added.

As per the data released by World Steel Association on April 22, India is the only country among top 10 steel producing nations of the world, which has registered growth in steel production in the January to March 2022 period, as compared to the corresponding period last year.

India has produced 31.9 million tonnes of steel in the period with a growth of 5.9 percent. In March 2022, with a production of 10.9 million tonnes of steel in India, the growth rate is 4.4 percent.

Brazil is the only other country among the top 10 Nations which has registered growth in the month of March.

According to a press statement by Ministry of Steel, Steel Minister held separate meetings with public sector and private sector steel companies earlier this week and reviewed their capital expenditure, production targets and future plans.

He exhorted them to keep in mind the carbon neutral commitment of India by 2070, hydrogen mission and clean & green steel while making strategic plans for the future.

Sitharaman Participates In Meeting Of Development Committee Plenary In Washington D.C.

Union Minister of Finance Nirmala Sitharaman participated in the 105th Meeting of the Development Committee Plenary in Washington D.C. on Saturday.

The items on the agenda included Digitalisation & Development, Making Debt Work for Development and Macroeconomic Stability, and World Bank Group’s Response to Global Impacts of the War in Ukraine: A Proposed Roadmap.

In her intervention at this session, the Finance Minister stated that India’s economic growth in the current year is robust and highest among all large economies and reflects India’s resilience and strong recovery.

Sitharaman stated that India faced the COVID-19 pandemic crisis with great resilience and made remarkable progress in vaccination and administered more than 1.85 billion COVID-19 vaccine doses.

The Finance Minister underlined that India voluntarily offered COVID Vaccine Intelligence Network (CoWIN) platform to all countries and stand willing to provide assistance for other public-goods platforms recognising the importance of replication of proven and scalable digital platforms.

Sitharaman drew the attention of distinguished gathering in the meeting to the unprecedented situation in Sri Lanka and hoped for decisive relief to Sri Lanka so that they come out of the crisis.

“Felt Like Sachin Tendulkar, Amitabh Bachchan”: UK PM Boris Johnson on India welcome

On Friday UK PM Boris Johnson addressed a joint press meet with PM Modi in Delhi and acknowledged the amazing reception he received. He said that he felt like Sachin Tendulkar.

“And I had an amazing reception – absolutely amazing– I felt like Sachin Tendulkar – my face was about as ubiquitous everywhere as Amitabh Bachchan. I was everywhere to be seen and it was fantastic,” said PM Johnson.

Talking about the Indo-Pacific region he said, “It was great to see you (PM Modi) at the G7. But since then, the threats of autocratic coercion have grown even further and it’s therefore vital that we deepen our co-operation, including our shared interest in keeping the Indo-Pacific open and free.”

India and UK will extend the partnership in science, and said that he had “the Indian jab” in his arm.

Johnson said, “We’re extending our partnership as science superpowers, And building on the collaboration between Oxford/Astra-Zeneca and the Serum Institute, which vaccinated more than a billion people against Covid, – including me – I have the Indian jab in my arm and the power of good it did me so thanks to India.”

These partnerships form the superstructure of the Living Bridge that Narendra describes between our countries, and today that bridge is humming with goods and services and people and capital, whizzing back and forth east to west

Johnson said that the new deals between India and UK are worth £1 billion and will create more than 11,000 new jobs across the UK.

Johnson said that the next round of the talks regarding the Free Trade Agreement will begin next week. Johnson has told the negotiators to get it done by Diwali in October.

“We’ve already closed four chapters, and today we’re announcing new measures to make it easier to export UK-made medical devices to India and ensure mutual recognition of UK higher education qualifications. And as the next round of talks begins here next week, we are telling our negotiators: get it done by Diwali in October. Get it done by Diwali,” said PM Johnson.

 

 

Nitin Gadkari Constitutes Expert Committee To Enquire Into E-Scooter Fire Incidents

Union Minister for Road Transport Nitin Gadkari has said several mishaps involving Electric Two Wheelers have come to light in the last two months. It is most unfortunate that some people have lost their lives and several have been injured in these incidents.

In a series of tweets on Thursday Gadkari informed that an Expert Committee has been constituted to enquire into these incidents and make recommendations on remedial steps. He further said that based on the reports quality-centric guidelines for Electric Vehicles will be issued.

“We have constituted an Expert Committee to enquire into these incidents and make recommendations on remedial steps. Based on the reports, we will issue necessary orders on the defaulting companies. We will soon issue quality-centric guidelines for Electric Vehicles,” tweeted Gadkari.

Gadkari said if any company is found negligent in their processes, a heavy penalty will be imposed and a recall of all defective vehicles will also be ordered.

An Ola e-scooter on March 26 caught on fire instance in the Dhanori Area of Pune, Maharashtra. And a few days later On 28 March Okinawa’s e-scooter caught fire in Vellore, Tamil Nadu.

 

UK PM Johnson Meets PM Modi In Delhi, Free Trade Agreement To Conclude By This Year

UK PM Boris Johnson arrived in Gujarat on Thursday for the start of his two-day visit to India. Boris Johnson met Prime Minister Narendra Modi in Delhi on Thursday as the UK looks to discuss topics from climate change to energy security to defence, the partnership of our democracies is vital as the world faces growing threats from autocratic states.

Addressing the joint press meet, PM Modi said PM Johnson has played a very important role in strengthening the relations between India and the UK and that the arrival of Prime Minister Boris Johnson here is a historic moment in itself.

“For the past several years, Prime Minister Johnson has played a very important role in strengthening the relations between India and the UK. At this time, when India is celebrating the Amrit Festival of its independence, the arrival of Prime Minister Boris Johnson here is a historic moment in itself,” said PM Modi.

Modi and Johnson also reviewed the progress made in “Roadmap 2030” which will guide the relationship between the UK and India in this decade.

“And we also launched an ambitious “Roadmap 2030” to guide our relationship in this decade. In our conversation today, we also reviewed the progress made in this roadmap, and also set some goals for the future,” Modi said.

Modi said that the Free Trade Agreement between both countries might be concluded by the end of this year.

“The teams of both the countries are working on the subject of Free Trade Agreement. Good progress is being made in the negotiations. And we have decided to do our best to conclude the FTA by the end of this year,” said Modi.

Modi also invited UK to join India’s National Hydrogen Mission to deepen the climate and energy partnership.

Modi emphasized the Global Innovation Partnership and said that it will prove to be a very important initiative between both countries. UK will also finance up to $100 million for scaling-up of “Made in India” innovations to third countries

“The conclusion of the implementation arrangements of the Global Innovation Partnership will prove to be a very important initiative between us today. This will further strengthen our development partnership with other countries,” Modi said.

“Under this, India and UK will co-finance up to $100 million for the transfer and scaling-up of “Made in India” innovations to third countries,” Modi further added.

Modi and Johnson also discussed the developments taking place at the regional and global level. They also talked about the Indo-Pacific region and India welcomed UK’s decision to join Indo-Pacific Oceans Initiative.

“We emphasized on maintaining the Indo-Pacific region based on a free, open, inclusive and rules-based order. India welcomes UK’s decision to join Indo-Pacific Oceans Initiative,” said Modi.

During the meeting both the leader reiterated the importance of respect for the territorial integrity and sovereignty of all countries.

 

“We stressed on dialogue and diplomacy in Ukraine for an immediate ceasefire and resolution of the problem. We also reiterated the importance of respect for the territorial integrity and sovereignty of all countries,” said Modi.

Talking about the Afghanistan situation Modi said that Afghan land should not be used to spread terrorism in other countries.

“We reiterated our support for a peaceful, stable and secure Afghanistan and for an inclusive and representative Government. It is necessary that Afghan land should not be used to spread terrorism in other countries,” said Modi.

Dilip Ghosh takes jibe at current BJP leadership in West Bengal

Bharatiya Janata Party (BJP) leader Dilip Ghosh on Thursday took aim at party leadership in West Bengal and told ANI that current BJP state president Sukanta Majumdar “lacks organizational experience”.

“The team that is working now (in WB) is new & lacks organizational experience. State chief (Sukanta Majumdar) is also new…It’s taking time, which is why people are disappointed. A decision should be taken soon…with participation of experienced leaders,” Dilip Ghosh told ANI.

The remark comes after the party’s defeat in the by-polls to Kolkata’s Ballygunge assembly and Asansol Lok Sabha seats on April 16.

Talking about political strategist Prashant Kishor’s joining with Congress he said that it’s Prashant Kishor’s business and that he will soon have a membership card of every party.

“It’s his (Prashant Kishor’s) business. He had joined TMC too…Whichever party he works for, gets its membership…He’ll have a membership card of every party, will show the card saying I’m from your party, give me order,” Dilip Ghosh told ANI on Kishor joining Congress.

Congress MP Adhir Ranjan writes to Mamata Banerjee on alleged ‘miserable’ condition of Muslims in Bengal

Congress MP Adhir Ranjan Chowdhury on Thursday wrote to West Bengal Chief Minister Mamata Banerjee seeking her attention to the “pathetic and miserable condition” of the Muslim minority in the state.

“I wish to draw your kind attention to the very pathetic and miserable condition of the Muslim minority in West Bengal. At the national level and also at the state level there is a huge Ministry for welfare of minorities. Every year programmes and policies are framed for the welfare of minorities but their social and economic condition has not improved at all,” Chowdhury wrote in the letter.

Talking about the West Bengal Minority Commission which act as watch dog for the rights of the minorities, the MP said that even though he is an MP for the 5th term, he has never been called or consulted on this matter which shows the sorry state of functioning of Ministry.

“In West Bengal, we have a very important body for the welfare of minorities called the West Bengal Minority Commission. The job of the Minority Commission is to act as watch dog for the rights of the minorities and give important recommendations for the welfare of the minorities. It is understood that the recommendations are framed after consultations with public representatives and other stakeholders in the society. However, I may like to point out that I have never been called or consulted on this matter though I am a Member of Parliament for the 5th term. It clearly shows the very sorry state of functioning of your Ministry for monitories as well as the State Minority Commission,” he wrote.

The MP said he represents Berhampore parliamentary constituency in Murshidabad which has more than 70% of Muslim populations and still Murshidabad is still categorized as aspirational district.

“I represent Berhampore parliamentary constituency in Murshidabad district which has more than 70% of Muslim populations. Therefore, I have a very good understanding about their social and economic challenges. Murshidabad is still categorized as aspirational district. It clearly means that development has not taken place in this district. The Government of West Bengal has completely failed in looking after the Welfare of the minorities in the state otherwise district like Murshidabad would not have been aspirational district till date.” Chowdhury wrote.

He said that his constant effort with the Central Government has resulted in opening of another campus of Aligarh Muslim University at Murshidabad but due to lack of support from the State Government, the project could not take of well.

“You may be aware that my constant effort with the Central Government resulted in opening of another campus of Aligarh Muslim University at Murshidabad. However, due to lack off support from the State Government, the project could not take of well and no development work is going on this huge campus. As a result the Muslim minority are deprived of huge job and educational opportunities in this district,” the MP wrote.

He said a sizeable population of the Muslim minorities of the Murshidabad migrated to different parts of the country in search of jobs.

“A sizeable population of the Muslim minorities of the Murshidabad have migrated to different parts of the country in search of job. They are skilled workers and they are contributing in the development of other cities. It is because of the lack of job opportunities in West Bengal that they have to migrate to other parts of the country. Today, West Bengal has become an exporter of skill Muslim workers to rest of the country,” wrote Chowdhury.

He concluded the letter requesting to give special attention for the welfare and development of minorities.

“Given the sorry state of affair of the minorities in West Bengal, I would request to give special attention for the welfare and development of minorities,” Chowdhury concluded the letter.

BGBS 2022: Bengal gets investment proposals worth over Rs 3.42 lakh crore

Chief Minister Mamata Banerjee on Thursday announced that Bengal has received investment proposals worth Rs 3.42 lakh crores during the two-day business summit.

While speaking on the last day of the sixth BGBS, Banerjee said that BGBS was a remarkable success as Bengal have received investment proposals worth ₹3,42,375 crores. Talking about employment she said this business summit is expected to generate around 4 lakh jobs.

She announced that at least 37 memorandums of understanding (MoUs) and letters of intent (LoIs) were signed in these two days.

She further informed that the next summit will be held on February 1, 2 and 3 next year.

The Adani Group on the first day of BGBS announced that it will invest Rs 10,000 crore in the state over the next decade.

West Bengal Governor Jagdeep Dhankhar, however, on multiple occasions accused the government for not sharing details of investments received from the five editions of BGBS.

FM Sitharaman Reaffirms India’s Commitment To Fight Money Laundering, Terrorist Financing

Union Minister for Finance Nirmala Sitharaman attended the FATF Ministerial Meeting in Washington D.C. on Thursday 21st April, conducted along-side the 2022 Spring Meetings of the World Bank Group and the International Monetary Fund (IMF).

A statement from the Ministry of Finance said, “This meeting focussed on Ministers’ providing strategic direction, by endorsing the FATF’s strategic priorities for the years 2022-24 and reinforcing Ministers’ commitment to ensure suitable funding for the delivery of the strategic priorities which are Strengthening the FATF Global Network, FATF systems of Mutual Evaluations, Enhancing International Beneficial Ownership Transparency, Increasing Capabilities to more effectively recover Criminal assets, Leveraging Digital Transformation, Ensuring Sustainable Funding for FATF Strategic priorities.”

During the Meeting, the Finance Minister reaffirmed India’s commitment to fighting Money Laundering, Terrorist Financing and Proliferation Financing and acknowledged and appreciated FATF on their work on Beneficial Ownership Transparency, Asset Recovery, and the role of FATF Global network in safeguarding the global financial system.

Sitharaman also extended support to the strategic priorities and said that India is committed to provide the necessary resources and support to FATF in its endeavour as a global alliance against money laundering, terrorist financing and financing of proliferation of weapons of mass destruction.