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Sunday, February 26, 2023

Vodafone Idea shareholders approve convertible debentures issue to ATC :-ET Feb 25,2023

 

Vodafone Idea shareholders Saturday approved the Rs 1600-crore preferential issuance of optionally convertible debentures to American Tower Corporation (ATC), a move which will allow the cash-strapped telco to pay off most of the US tower company’s dues.

“An Extra-ordinary General Meeting ("EGM") of the Company was held on Saturday, 25th February, 2023 at 4:00 p.m. (IST) through Video Conference / Other Audio-Visual…," Vodafone Idea said in a statement to the Bombay Stock Exchange.


GOP presidential candidate Nikki Haley pledges to cut billions in foreign aid to Pakistan, China, other US adversaries ;-ET

 


US Republican Party, Grand Old Party (GOP) Presidential candidate Nikki Haley has said that if voted to power, she will cut every cent in foreign aid for countries that hate the US. This includes China, Pakistan and other adversaries as "a strong America doesn't pay off the bad guys".

I will cut every cent in foreign aid for countries that hate us. A strong America doesn't pay off the bad guys. A proud America doesn't waste our people's hard-earned money. And the only leaders who deserve our trust are those who stand up to our enemies and stand beside our friends," Haley, the Former Governor of South Carolina and former US ambassador to the UN, wrote in an op-ed for New York Post.

According to Haley, America spent USD 46 billion on foreign aid last year. That's more than any other country by far. Taxpayers deserve to know where that money is going and what it's doing. They will be shocked to find that much of it goes to fund anti-American countries and causes.


Nikki Haley formally launched her 2024 campaign for the White House on February 15 (local time), pitching herself to voters as part of a "new generation" of Republican leaders who can win at the ballot box.

Haley is now the first Indian American woman from the Republican Party to run for the presidential bid. As the former governor of South Carolina and US ambassador to the United Nations, took the stage, Haley introduced herself as the proud daughter of Indian immigrants pitching  a new future for the Republican party.

Haley in the Op-ed, while citing examples said that the US has given Iran more than USD 2 billion over the last few years, even though its government is getting closer to the murderous thugs in Iran who shout "Death to America!" and launch attacks on our troops.

"The Biden administration resumed military aid to Pakistan, though it's home to at least a dozen terrorist organizations and its government is deeply in hock to China. Team Biden restored half a billion dollars to a corrupt United Nations agency that's supposed to help the Palestinian people but in fact covers for deeply anti-Semitic propaganda against our ally Israel," she said.

The US has given hundreds of millions of dollars to Zimbabwe, a country with one of the most anti-American voting records in the UN.

American taxpayers still give money to Communist China for ridiculous environmental programs, despite the obvious threat China poses to Americans. We give money to Belarus, which is Russian dictator Vladimir Putin's closest ally. We even give money to Communist Cuba -- a country our own government has designated as a state sponsor of terrorism, Haley stated  ..in her Op-ed for the New York Post.

"This is not just Joe Biden. It's been happening for decades under presidents of both parties. Our foreign-aid policies are stuck in the past. They typically operate on autopilot, with no consideration for the conduct of the countries that receive our aid. It will take a determined president to root out these taxpayer rip-offs."

Haley said she is running for the president's post to restore US's strength, national pride, people's trust. Backing American allies and friends like Israel and Ukraine is smart. Sending our tax dollars to enemies isn't.

"I will be that president, just as I was that ambassador," Haley wrote.

"As ambassador, I strongly supported President Donald Trump's decision to cut nearly USD 2 billion of military aid to Pakistan because that country supports terrorists who kill American troops. It was a major victory for our troops, our taxpayers and our vital interests, but it didn't go nearly far enough. We've still given them way too much in other aid. As president, I will block every penny," the US presidential candidate further wrote.

With the aim of moving from the "stale ideas and faded ideas" of the past, the Indian American leader Nikki Haley on February 15 (Wednesday) announced her candidacy for the 2024 Republican Presidential nomination.

After Republican leader Nikki Haley, another Indian-American, healthcare and tech sector entrepreneur Vivek Ramaswamy on Wednesday (local time) announced his 2024 US presidential election bid.

"We've celebrated our "diversity" so much that we forgot all the ways we're really the same as Americans, bound by ideals that united a divided, headstrong group of people 250 years ago. I believe deep in my bones those ideals still exist. I'm running for President to revive them," tweeted Ramaswamy in a video announcing his intention to run for president.

UK plans to ban foreign students from bringing family :-ET

 

The UK is planning to restrict international students from bringing immediate family members like spouses and children unless they study "high-value" degrees. As per a news report published in The Times, only international students studying science, mathematics, and engineering will be able to bring their dependents to the UK.

Foreign students would also be banned from bringing families unless they are studying at a higher level, such as a master’s degree or PhD, the report added.

Britain has registered a near-eightfold rise in the number of family members joining foreign students. As per the immigration figures, nearly 5 lakh students were given visas last year. They were accompanied by 135,788 dependants -- spouses and children -- up from 16,047 in 2019.

Of these, India became the largest source of students with 161,000 students, including 33,240 dependents, coming to the UK last year.

Asylum backlog hit a record high, with more than 160,000 migrants waiting for decisions on their applications, the report said.

However, the report said that the government is yet to take a final decision on this contentious matter.

Home Secretary Suella Braverman has drawn up proposals to reduce the number, which includes shortening the duration foreign students can stay in Britain post their course.

However, according to the Department of Education, the restrictions will bankrupt UK universities, which depend on foreign students for money.

According to estimates, international students add 35 billion pounds a year to the economy.

According to UK-based New Way Consultancy, foreign students and their dependents contributed to the UK economy not just through fees of 10,000 pounds to 26,000 pounds but also via an NHS surcharge of 400 pounds a year for the student and 600 pounds for a dependent.

It warned that curbs on graduate work visas will force Indian students to shift to countries like Australia and Canada, ultimately leading to the end of the student market in the UK.

(Inputs from IANS)

Friday, February 24, 2023

Why is ‘Dr Doom’ Nouriel Roubini so upbeat about India's economy? ET

 

If a prophet of doom says something positive, one must sit up and take note, more so if the comment is about India.

Nouriel Roubini, a professor emeritus of Stern School of Business, New York University — who earned the nickname “Dr Doom” after famously predicting the 2008 US subprime crisis — recently said India could realise a growth rate of 7% or even higher over the medium term with the right policy interventions, and its economy would likely expand at a faster pace than China’s over the next decade.

In 2022, Roubini said the world was staring at a “long and ugly” recession that could sink the stock markets by 40%. Given this comment, what makes him so positive about India? From where does his hope for India spring?
Below are some of his views from his recent talks and interviews that form the basis of his optimistic view of India's economy:

Population
Roubini says there is a good chance that due to its sheer size, India is going to be the most important country in the world over the medium to long term. "You have a population (that is) the largest in the world, young and growing – 1.4 billion people – which can, with good education and skills, lead to strong economic growth," he says.

Pent-up growth

The professor, who is often called a “permabear”, says India has a lot of pent-up growth that can be realised. "There is going to be a catch-up of growth. The growth per capita of India is only one quarter of that of China. With the right policy, growth can be potentially above 7% and that is going to lead India to become a very strong economic power."

A world power
Roubini also sees a pre-eminent role for India in the world which will, of course, help its economy too. "The country is also going to become a major geopolitical power, both in Asia and globally, given the size, its role, and the fact that you need a strong power to manage the relation also with a rising China," he says.

Democratic edge
India has done quite well as a democracy, says Roubini. "While democracy is more messy, you get much more consensus for your policy choices if it is through a political process where you can convince people of the right reforms, because reforms may take longer and occur more slowly but they become more sustainable and more resilient over time and that is why a strong, vibrant democracy with a market system and the provision of public services or variety of variety of things to the middle class and the poor is the right economic approach.”

India stack is the best
The economist points out that India's unique achievement in building public digital infrastructure such as the UPI, Aadhaar and BHIM will help it grow better. "Your tech stack allows lots of different apps and tools to provide a variety of financial services, public services, ecommerce. I think that the Indian model is better than the Chinese where the government controls all the data, or the US where a bunch of oligopolistic big tech firms control the data," he says.


The rise of the rupee
"One can see how the Indian rupee could become a vehicle currency for some of the trade that India does with the rest of the world, especially South-South trade. It could be a unit of account, it could be a means of payment, it could become a store of value. Certainly, the rupee over time could become one of the variety of global global reserve currencies in the world," Roubini says.

Read Roubini's fine print too
However, his optimism about the Indian economy comes with a few disclaimers. For one, he does not see more than 8% growth for the country unless many more economic reforms that are structural are introduced. Maintaining a high level of growth for a long time, say two decades, depends on such government policies.

Roubini, who has said he is “Dr Realist rather than Dr Doom”, also warns that India has to become much more open to big foreign companies to achieve the vision he sees for the country. “The growth of India is becoming increasingly driven by national champions that are large, private conglomerates. On one hand, that might be seen as a positive because they are productive, efficient, and competitive. However, eventually, they can potentially hamper competition, kill new entrants and startups. And they may eventually lead to lower total factor productivity growth,” he adds.



Ex-Mastercard CEO Ajay Banga Nominated By US President To Lead World Bank :-NDTV Ajay Banga, 63, is Indian-American and currently serving as vice chairman at equity firm General Atlanti

 


Washington: 

US President Joe Biden said Thursday that Washington is nominating former Mastercard Chief Executive Ajay Banga to lead the World Bank, after its current chief David Malpass announced plans to step down early.

The development lender has just started accepting candidate nominations in a process set to run until March 29, with the bank saying that women candidates would be "strongly" encouraged.

The president of the World Bank is typically American, while the leader of the International Monetary Fund is customarily European.

Banga, 63, is Indian-American and currently serving as vice chairman at equity firm General Atlantic.

He was previously chief executive at Mastercard.

Banga has "critical experience mobilizing public-private resources to tackle the most urgent challenges of our time, including climate change," said Biden in a statement.

Last week current World Bank President Malpass -- who was nominated to the post by Biden's predecessor Donald Trump in 2019 -- said he would step down nearly a year early, ending a tenure that was clouded by questions over his climate stance.

His term would originally have ended in 2024.

Banga's nomination comes amid a push for development lenders to revamp and address global problems like environmental issues more effectively.

US Treasury Secretary Janet Yellen earlier said that lenders' core models, where countries borrow to make specific investments addressing developmental constraints, is "insufficient to meet the moment."

The United States is the World Bank's largest shareholder.

Wednesday, February 22, 2023

These 2 Indian cities were ranked the worst for creative people Two Indian cities ranked lowest on a list of ‘The Creative Capitals of the World’. MONEYCONTROL NEWS FEBRUARY 22, 2023 / 08:52 AM IST moneycontrol news

 

       Mumbai and Delhi both ranked low on the 'Creative Capitals of the World' list.

Two Indian cities ranked lowest on a list of ‘The Creative Capitals of the World’. Delhi and Mumbai were both found wanting when it came to creative roles, according to rankings compiled by Business Name Generator, a website that’s part of the performance marketing group Marketzoo.

Business Name Generator analysed a number of metrics to come up with the top 50 creative capitals of the world – a list which Tokyo topped. These metrics included number of creative roles available, the advertised salary for these roles, cost of living as a single person (excluding rent), number of museums and art galleries, access to green spaces, number of classes and workshops and the happiness score of the country.

“Tokyo is the best city in the world for creatives, followed by London and Paris,” the research found. Tokyo, the capital of Japan, scored high on almost every metric and topped the list with an overall score of 8.0. Its overall score far surpassed London, which came second at 5.4.

Meanwhile, Delhi and Mumbai, with a score of 2.8 each, were judged the least ideal cities for creative people.

The research found that New Delhi had 46 green spaces and parks, 75 museums and art galleries, and 9 creative classes and workshops. The cost of living in the national capital, however, is lower than any other city on the list.

Mumbai was judged “slightly better” than Delhi, although it offers even fewer museums, art galleries, creative classes and workshops. “As well as this, India ranks 136th for happiness which is worse than any other country in our ranking,” the research said.


Monday, February 20, 2023

49TH GST COUNCIL MEETING HIGHLIGHTS


1. GST Council Meeting: Outstanding GST compensation of 5 years due to states for the 5 year period cleared

2. GST Appellate Tribunal 
The Council adopted the report of the Group of Ministers with certain modifications. The final draft amendments to the GST laws shall be circulated to Members for their comments. The Chairperson has been authorised to finalise the same.

3. Approval of the Report of GoM on Capacity Based Taxation and Special Composition Scheme in certain Sectors on GST: 
With a view to plug the leakages and improve the revenue collection from the commodities like pan masala, gutkha, chewing tobacco, the Council approved the recommendations of the GoM including, inter alia, that
  • the capacity based levy not to be prescribed;
  • compliance and tracking measures to be taken to plug leakages/evasions;
  • exports of such commodities to be allowed only against LUT with consequential refund of accumulated ITC;
  • compensation cess levied on such commodities to be changed from ad valorem to specific tax based levy to boost the first stage collection of the revenue
4. Recommendations relating to GST rates on Goods and Services

1. Changes in GST rates of Goods and Services
  • Rab - 18% to 5% - if sold prepackaged and labelled or Nil - if sold otherwise
  • Pencil Sharpener - 18% to 12%
Other changes relating to Goods and Services
  • It has been decided to regularize payment of GST on ‘rab’ during the past period on “as is basis” on account of genuine doubts over its classification and applicable GST rate.
  • It was decided to suitably amend notification No. 104/94-Customs dated 16.03.1994 so that if a device like tag- tracking device or data logger is already affixed on a container, no separate IGST shall be levied on such affixed device and the ‘nil’ IGST treatment available for the containers under notification No. 104/94-Customs shall also be available to the such affixed device subject to the existing conditions.
  • It has been decided to amend entry at Sl. No. 41A of notification No. 1/2017-Compensation Cess (Rate) so that exemption benefit covers both coal rejects supplied to and by a coal washery, arising out of coal on which compensation cess has been paid and no input tax credit thereof has been availed by any person.
  • It has been decided to extend the exemption available to educational institutions and Central and State educational boards for conduct of entrance examination to any authority, board or a body set up by the Central Government or State Government including National Testing Agency for conduct of entrance examination for admission to educational institutions.
  • It has been decided to extend the dispensation available to Central Government, State Governments, Parliament and State Legislatures with regard to payment of GST under reverse charge mechanism (RCM) to the Courts and Tribunals also in respect of taxable services supplied by them such as renting of premises to telecommunication companies for installation of towers, renting of chamber to lawyers etc.

5.  Measures for facilitation of trade:

1. Extension of time limit for application for revocation of cancellation of registration and one time amnesty for past cases: The Council has recommended amendment in section 30 of CGST Act, 2017 and rule 23 of CGST Rules, 2017 so as to provide that -
  • the time limit for making an application for revocation of cancellation of registration be increased from 30 days to 90 days;
  • where the registered person fails to apply for such revocation within 90 days, the said time period may be extended by the Commissioner or an officer authorised by him in this behalf for a further period not exceeding 180 days.
6. The Council has also recommended that an amnesty may be provided in the past cases, where registration has been cancelled on account of non-filing of the returns, but application for revocation of cancellation of registration could not be filed within the time specified in section 30 of CGST Act, by allowing such persons to file such application for revocation by a specified date, subject to certain conditions.
 
  • Amendment to Section 62 of CGST Act, 2017 to extend timelines under sub-section (2) thereof and one time amnesty for past cases: As per sub-section (2) of section 62 of CGST Act, 2017, the best judgment assessment order issued under sub-section (1) of the said section is deemed to be withdrawn if the relevant return is filed within 30 days of service of the said assessment order. The Council recommended to amend section 62 so as to increase the time period for filing of return for enabling deemed withdrawal of such best judgment assessment order, from the present 30 days to 60 days, extendable by another 60 days, subject to certain conditions.

7. The Council has also recommended to provide an amnesty scheme for conditional deemed withdrawal of assessment orders in past cases where the concerned return could not be filed within 30 days of the assessment order but has been filed along with due interest and late fee upto a specified date, irrespective of whether appeal has been filed or not against the assessment order, or whether the said appeal has been decided or not.
 
(A) Rationalisation of Late fee for Annual Return: Presently, late fee of Rs 200 per day (Rs 100 CGST + Rs 100 SGST), subject to a maximum of 0.5% of the turnover in the State or UT (0.25% CGST + 0.25% SGST), is payable in case of delayed filing of annual return in FORM GSTR-9. The Council recommended to rationalise this late fee for delayed filing of annual return in FORM GSTR-9 for FY 2022-23 onwards, for registered persons having aggregate turnover in a financial year upto Rs 20 crore, as below:
  • Registered persons having an aggregate turnover of up to Rs. 5 crores in the said financial year: Rs 50 per day (Rs 25 CGST + Rs 25 SGST), subject to a maximum of an amount calculated at 0.04 per cent. of his turnover in the State or Union territory (0.02% CGST + 0.02% SGST).
  • Registered persons having an aggregate turnover of more than Rs. 5 crores and up to Rs. 20 crores in the said financial year: Rs 100 per day (Rs 50 CGST + Rs 50 SGST), subject to a maximum of an amount calculated at 0.04 per cent. of his turnover in the State or Union territory (0.02% CGST + 0.02% SGST).
(B) Amnesty in respect of pending returns in FORM GSTR-4, FORM GSTR-9 and FORM GSTR-10: To provide relief to a large number of taxpayers, the Council recommended amnesty schemes in respect of pending returns in FORM GSTR-4, FORM GSTR-9 and FORM GSTR-10 by way of conditional waiver/ reduction of late fee.

(C) Rationalization of provision of place of supply of services of transportation of goods: Council recommended to rationalize the provision of place of supply for services of transportation of goods by deletion of section 13(9) of IGST Act, 2017 so as to provide that the place of supply of services of transportation



by CA Raj Chawla


Why is S.Jaishankar Chosen as the replacement of Sushma Swaraj as External Affairs Minister of India? What is his background? Replied by Aashish Kumar Dimri thru Quora

 


  • Father: Dr S Jaishankar was born to K Subrahmanyam - a senior civil servant- but better known as father of Indian strategic management.
  • It was K Subrahmanayam ;who kept on insisting on a strong approach against deterrents - terrorism, weak security infrastructure etc.
  • Strategist: Dr Jai Shankar was selected not for his diplomatic career but his reputation as a foremost strategist .He holds a doctorate in nuclear diplomacy and is considered to be an expert on global security affairs
  • Negotiator: He is well known as a master negotiator and down to earth persona. Undoubtedly, he is treated as a crisis manager; who can solve major problems with his deep analysis.
  • Trusted: Narendra Modi -known for his people skills- perceives him as a right man who can convey India’s needs to the world . After observing him for years; he was chosen to be India’s top diplomat
  • Leadership: Dr Jai Shankar leads from the front. With his vast knowledge and experience; he can easily represent Indian strategic interests in international and national forums.
  • His pro people approach and friendliness also made him admirable.
  • Indian: Unknown to many; Dr Jai Shankar is happily married to Kyoko Jai Shankar - a Japanese by birth ;but an Indian national by choice. He is a multilingual scholar ;who takes pride in being Indian.
  • Conclusion: His scholarship is his hallmark.
  • Pic credits: Google

Disclaimer:

It is neither spam, troll nor meant to disparage anyone. It sticks to guidelines issued by Quora. Thanks.

Footnotes

How Gerorge Soros and his so called NGO by the name OCF could try to destablize India's social fabric? Quora is Source and it was replied by member of Quora

On February 16, the billionaire George Soros launched another attack against India’s Prime Minister (PM) Narendra Modi. He claimed that Modi is “no democrat” and hoped for a weakened Modi expecting a ..democratic revival in India.

He is notorious for interfering in countries internal affairs attacking their sovereignty, financing anti-government activities and hate for nationalism and nationalists.

Mr Soros is an old, rich opinionated person sitting in New York who still thinks that his views should determine how the entire world works…such people actually invest resources in shaping narratives...

.The billionaire performs his anti-nationalist antics and finances his anti-government activities through, among other avenues, the Open Society Foundation (OSF), which is known to fund political NGOs,...including Israeli NGOs denying Israel’s legitimacy and Palestinian NGOs with ties to the Popular Front for the Liberation of Palestine, a designated terror organisation. In 2015.

The man who broke bank of England & is designated by nation an economic war criminal has now pronounced his desire to break Indian democracy. George Soros an international entrepreneur has declared his ill intention to intervene in the democratic process of India.

However, his attempt to destabilise democratic governments is not limited to the use of political influence. For example, OSF-backed Sherpa Association attempted to attack India’s defence when the the foundation filed a complaint against the India-France Rafale deal. OSF-backed Sherpa Association, in their tweet from November 23, 2018, said, “We filed a complaint with the national financial the foundation filed a complaint with the national financial prosecutor’s office in Paris in order to clarify the conditions surrounding the sale of 36 Rafale plane by #Dassault Aviation to India in 2016,” alleging “possible acts of corruption.”

Earlier, in 2016, the Modi government put the OSF on their watchlist, making it harder for the billionaire to fund anti-nationalist initiatives in India. However, Soros has been successful at

weaponising his giant fortune and cultivating an ecosystem of anti-nationalist media and NGOs that works to meddle in the country’s internal affairs to shape the world in his vision.......

Jaishankar said Soros' comments were typical of a "Euro Atlantic view". He also pointed out that there was "a debate and conversation that we must have on democracy",

including whose values defined democracy as the world rebalanced and became less Euro-Atlantic.....

Soros u have billions of dollars we have billions of aspirations but still I caught u hiding like a common thief behind Hindenburg.

Jai hind

En route Poland, US President Joe Biden makes surprise visit to Kyiv :-ET

 US President Joe Biden on Monday made an unannounced visit to Kyiv, Ukraine ahead of the first anniversary of the full-scale invasion by Russia. Biden said Ukraine will get a new military aid package worth $500 million, which will be announced on Tuesday.

Air raid sirens blared across the Ukrainian capital as Biden visited Kyiv but there were no reports of Russian missiles or air strikes. Ukraine’s Zelenskiy said he and Biden discussed long-range weapons during the POTUS’ visit.

The White House said that Biden would announce the delivery of critical equipment including including artillery ammunition,anti-armor systems,air surveillance radars to help protect the Ukrainian people. Biden is set to announce additional sanctions against elites and companies that are trying to evade or backfill Russia’s war machine, it added.

“One year later, Kyiv stands. And Ukraine stands. Democracy stands,” Biden said.

Biden was due to visit Poland today. The White House had said there are no plans for Biden to cross into Ukraine, but the proximity to the war zone raised a few doubts about the visit happening.

He was one of the few major allies who hadn't yet visited the country. French President Emmanuel Macron and German Chancellor Olaf Scholz went to Kyiv back in June. Italian Prime Minister Giorgia Meloni was due to visit Monday.

Biden plans to meet Polish President Andrzej Duda and leaders of the so-called Bucharest Nine group of eastern-flank NATO allies during his February 21-22 visit.

Biden last visited Warsaw in late March, a month after the invasion, and denounced Russian President Vladimir Putin in a speech at the capital’s former royal castle.

The war which began on February 24 last year has cost hundreds of thousands of lives, driven millions from their homes and reduced cities to rubble across swathes of southern and eastern Ukraine.

There has been little change on the vast frontline in recent months as both sides prepare for offensives expected in the spring, Russia boosted by thousands of conscripts and Ukraine fortified with Western battle tanks.

Ukrainian President Volodymyr Zelenskiy said on Sunday that Russia had suffered "extraordinarily significant" losses near the town of Vuhledar in the eastern Donbas region, which Moscow claimed to have annexed in September.

"The situation is very complicated. And we are fighting. We are breaking down the invaders and inflicting extraordinarily significant losses on Russia," Zelenskiy said in his nightly video address.

Zelenskiy referred to several towns where fighting has been focused for months, saying "the more losses Russia suffers there, in Donbas - in Bakhmut, Vuhledar, Marinka, Kreminna - the faster we will be able to end this war with Ukraine's victory".Russia's defence ministry said on Saturday that its forces had captured Hrianykivka, a village in the eastern Kharkiv region that is well to the north of the hottest part of the front, which is around Bakhmut.

Ukraine's General Staff on Monday said its forces "repelled Russian attacks in the areas of the Hrianykivka village", but that the Russians continued to heavily shell the area with artillery.

NATO SUPPORT

Ukrainian officials have urged U.S. Congress members to press Biden's administration to send F-16 fighters to Kyiv, saying the aircraft would boost Ukraine's ability to hit Russian missile units with U.S.-made rockets, U.S. lawmakers said.

The lobbying came over the weekend on the sidelines of the Munich Security Conference in talks between Ukrainian officials, including Foreign Minister Dmytro Kuleba, and Democrats and Republicans from the Senate and House of Representatives.

Biden last month said "no" when asked if he would approve Ukraine's request for Lockheed-Martin-made F-16s.

But administration officials, speaking on Sunday, said the United States should focus on providing weapons that can be used immediately on the battlefield, rather than fighter jets that require extensive training.

Even so, they did not rule out providing F-16s.

China and India to contribute more than half of global growth this year: IMF :-ET

 


The International Monetary Fund on Monday said that India and China are expected to contribute more than half of global growth this year, with the rest of Asia contributing an additional quarter.

Economists have turned bullish on China, with the country halting its Covid Zero policy and reopening in the second half of 2022. The Indian economy has also shown positive signs, with its growth being amongst the highest in the world over the last two years.

The war in Ukraine and the rise of central bank rates to fight inflation were highlighted as factors constraining economic activity. However, the re-opening of China and the loosening of pandemic-related lockdown restrictions may help to boost global growth.

The ongoing war in Ukraine and logistical challenges posed by the pandemic and other geopolitical issues have kept price pressures high, particularly in energy commodities and general foodstuffs.

Asia's emerging and developing economies are hitting their stride as pandemic supply chain disruptions fade and the service sector booms. "Cambodia, Indonesia, Malaysia, the Philippines, Thailand, and Vietnam are all back to their robust pre-pandemic growth," the organisation said.

The IMF noted that conditions in Asia and the Pacific are now improving, with economic headwinds that the regions faced last year now fading.

"These developments are helping improve prospects across the region, with growth set to accelerate to 4.7 percent this year from 3.8 percent in 2022. This will make it by far the most dynamic of the world’s major regions and a bright spot in a slowing global economy," it said.

With central banks opting to cut rates aggressively, Asian economies are likely to see lower levels of inflation. "There are now encouraging signs that headline inflation peaked during the second half of last year, though core inflation is proving more persistent and has yet to ease definitively. We expect inflation to return to central bank targets sometime next year amid an easing of financial and commodity headwinds," the IMF said.

With higher spending during the pandemic driving fiscal deficits higher, several Asian countries continue to face debt distress.

"With several Asian countries facing debt distress, authorities must continue with their plans for gradual fiscal consolidation. Doing so will also ensure that monetary and fiscal policies are not acting at cross purposes," it said.

WHY GEORGE SOROS HAS DECLARED OPEN WAR AGAINST INDIA????



https://www.linkedin.com/posts/vinitbolinjkar_george-soros-has-declared-open-war-against-activity-7032601713102446592-JKKH?utm_source=share&utm_medium=member_ios

I say open war because he wants to remove our democratically elected (by 1.4 bn or 1/5th of humanity) PM from power.

For this he has already committed a couple of US $$ bn. His half age, Chinese wife is going to be present at a Cambridge gathering to be addressed by our Rahul Gandhi. There is a saying in China that any Chinese national out of China is a Chinese listening post. Can we then rule out that China is not involved? At the same time the Director General ISI of Pakistan is also expected to be there in UK. The gathering of these anti India forces in the UK is nothing but planning for one more toolkit attack on Modi. With Soros coming out in the open and so blatantly speaking of ousting Modi is nothing less than a war cry. In every regime change engineered in poor European countries, Soros has been rumored to have had a hand. And you bloody well be sure that Soros will stop at nothing So over the next 15 months we can expect every kind of attack in order to remove Modi. Prior to the Gujarat state elections (which was a landslide BJP victory) Modi himself had stated that he was fighting global power who would stop at nothing less than his death. Post that we had the regime change Clinton cabal members - O Donald, Victoria Nuland and Hillary herself visiting India. In Gujarat close to INR 400 cr of funding via NGO was committed while in Tamil Nadu plans were in works to revive the LTTE. Post this we had NIA pick up several drug lords and terrorists from TN. Until LS2024 (and even beyond) we will see multiple attempts being made to disturb the harmony in India, engineer violence, communal hatred and blaming Modi for this. One question that will crop up in everyone’s mind is why are these so desperate for Modi’s blood? We need to take into consideration the following. 1. If Modi, wins Pakistan will break up. Hence having a sympathetic INC govt is in their interest. 2. Debt of US $34 tr & China $50+ tr is unsustainable. In light of this a strong India is a threat to their global superpower and economic status. 3. A strong economic India means a weakened China. So to sustain this hegemony it in their interest to unseat Modi. What can we do to protect our interest? a. Rally behind Modi no matter what. b. Counter the negative agenda by spreading awareness. c. Don’t indulge in petty anti Modi hatred without reason. If you want to understand imagine how much we achieved economically in just a few days in February. 1. Tatas placed order for 500 aircraft. This going to make India the hub for global air travel, tourism and MRO. 2. UP Global Investors Summit received $350 bn of commitments. 3. The Aero show 2023 is the 3rd largest in its category globally displaying 700+ Indian firms in the aero and defence industry. Imagine if in another Modi led Amritkaal for another 5 years we cross US$ 10 tr GDP
This is surely uncomforting for global powers.