The Finance Minister on August this year had announced a series of measures to boost the economy and the financial market sentiments of the country. Among them was the setting up of a development bank. This comes during the time when there is an increasing call for sustainable development of the economy and the promotion of eco-friendly technologies. This announcement was in response to the economic slowdown and discouraging capital market sentiments. The idea for the establishment of a sound development bank is encouraging as it helps in providing investments on long-term projects that may have little or no profitable returns but are essential for the sustainable development of the country. This move allows for risky investments, the ones that are essential for addressing the environmental concerns, technological growth, and rural economic development.
On early September this year, the Cabinet Committee of Economic Affairs, headed by the Prime …
The UN General Assembly on May 2019 adopted a resolution that welcomed the International Court of Justice’s advisory opinion on the legal consequences of the separation of Chagos Archipelago from Mauritius in 1965. This resolution, in accordance with the ICJ's advisory, has demanded the complete withdrawal of the UK and the US within six months from the archipelago. Countries like Australia, the US, the UK, Hungary, Israel, and Maldives were against this resolution. It has stated that the decolonization of Mauritius was not in accordance with the right to self-determination and that the UK’s sovereignty over the Chagos Archipelago establishes a “wrongful act”. However, the stance taken by the major colonial powers like the US and the UK shows their unwillingness to adapt to the new era, the one that is defined by freedom and liberty of their previously colonised territories.
In August 2019, the Reserve Bank of India transferred a record amount of surplus to …
The Prime Minister had inaugurated the national Animal Disease Control Program at Uttar Pradesh’s Mathura. It aims to eradicate 2 major diseases affecting the Indian livestock- Foot and Mouth Disease/ FMD and the Brucellosis. Both these diseases are of major concern, especially to the dairy industry.
The member nations of the WHO Regional Committee for South-East Asia have postponed the deadline for achieving the eradication of measles and rubella. India accounts for 36% of the global measles cases. The major campaign undertaken by the Indian government is currently facing challenges due to the reluctance of the public and also because of its vast coverage. The deadline has been postponed mainly due to these hindrances. The government needs to address these issues to make India free from the two major childhood killers – measles and rubella
India’s aviation sector is contributing about 30 billion USD to India’s GDP. India is one of the fastest-growing aviation markets in the world. Nearly 90% of the aviation traffic is at the domestic level. This means that UDAN scheme or the Regional Air Connectivity Scheme is an asset to the aviation sector. However, this scheme alone cannot address the growing crisis in the aviation sector. The government must launch a viable policy to support the growth of this sector.
The 45th G7 summit was held for three days at Biarritz, Nouvelle-Aquitaine, France. Indian Prime Minister Narendra Modi was a special invitee to this annual summit between the 7 major world economies. This invitation is seen by many as the recognition of India’s growing importance in global politics. Joint communiqué was not issued at the end of this meeting. This shows the growing differences between the member nations and also the growing inefficiency of the G7 in recent times.