India will beat Britain to become 5th largest economy next year: Jaitley

Agencies
July 13, 2018

New Delhi, Jul 13: Union Minister Arun Jaitley on Friday exuded confidence that India will pip Great Britain to become the fifth largest economy in the world next year if economic expansion continues at the projected rate.

However, rising international crude oil prices and the global trade war would throw up challenges going forward, he said.

"If we keep growing at the rate which is being projected, it is likely that next year we will be the fifth largest economy ahead of Great Britain," Jaitley said in a Facebook post titled 'The Congress Gave Slogans to Rural India - Prime Minister Modi Gave Resources'.

"This is in consonance with the rest of the narrative. Being the fastest growing economy for the last four years, we can look at the next decade as one of economic expansion," he added.

A latest World Bank report has said that the Indian economy has become world's sixth-biggest economy, pushing France to seventh place. The US tops the list followed by China, Japan, Germany and Britain.

The new calculations arrived on the basis of Indian economy's performance in 2017.

India's gross domestic product (GDP) was valued at USD 2.597 trillion at the end of 2017 overtaking the French economy, which was amounted at USD 2.582 trillion last year.

"We have already seen a significant move up in India’s ranking in the ease of doing business and as a preferred investment destination. Today we stand to be tested in the midst of a global challenge thrown upon account of the international crude oil prices and the trade war," Jaitley said.

Crude oil prices, which were around USD 66 a barrel, in April are now hovering around USD 75 a barrel.

The Indian economy is estimated to grow at 7-7.5 per cent in the current fiscal, higher than 6.7 per cent growth clocked in 2017-18 fiscal.

"The recently released World Bank data reveals that India has now become the sixth largest economy relegating France to the seventh position. Obviously, on account of disparity in the size of the population, there would be a very significant difference in the per capita of the two countries," he said.

The NDA government, under Prime Minister Narendra Modi, has ensured that rural India and the less privileged get the first right on resources and if this, along with increased expenditure, continues for the next decade the impact on India's rural poor would be significant, he said.

"This benefits all – irrespective of religion, caste or community. The Congress provided India’s poor with the slogan. Prime Minister Modi has given them resources. This will ensure faster growth and lead to a faster depletion in the poverty," Jaitley added.

He said the Congress party in the 1970s and 1980s followed the model of "populist slogans" rather than "sound policy and actual expenditure for the welfare of the poor".

"The 1971 ‘Garibi Hatao’ model was one of redistribution of poverty rather than the generation of wealth and resources. The result of this misguided approach was that the lives of the poor did not move up significantly.

"On the contrary, the present Prime Minister is a man of many words and many more actions. He announces stiff targets and programmes which at first sight appear to be difficult, if not impossible. He follows it up with the actual implementation and delivers the promise," Jaitley said.

He said the government's programmes for rural India will lead to increased incomes, increased social security, improved quality of life, higher income from agriculture and better healthcare.

Jaitley said ever since the present government took over, it has been working to translate the advantages of faster growth to rural India as well as to bring a significant section of people into the neo-middle class and bring people out of poverty.

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Agencies
June 30,2020

United Nations, Jun 30: India accounts for 45.8 million of the world's 142.6 million "missing females" over the past 50 years, a report by the United Nations said on Tuesday, noting that the country along with China form the majority of such women globally.

The State of World Population 2020 report released on Tuesday by the United Nations Population Fund (UNFPA), the world organisation's sexual and reproductive health agency, said that the number of missing women has more than doubled over the past 50 years - from 61 million in 1970 to a cumulative 142.6 million in 2020.

Of this global figure, India accounted for 45.8 million missing females as of 2020 and China accounted for 72.3 million.

Missing females are women missing from the population at given dates due to the cumulative effect of postnatal and prenatal sex selection in the past, the agency said.

Between 2013 and 2017, about 460,000 girls in India were missing' at birth each year. According to one analysis, gender-biased sex selection accounts for about two-thirds of the total missing girls, and post-birth female mortality accounts for about one-third, the report said.

Citing data by experts, it said that China and India together account for about 90-95 per cent of the estimated 1.2 million to 1.5 million missing female births annually worldwide due to gender-biased (prenatal) sex selection.

The two countries also account for the largest number of births each year, it said.

The report cites data by Alkema, Leontine and others, 2014 National, Regional, and Global Sex Ratios of Infant, Child, and under-5 Mortality and Identification of Countries with Outlying Ratios: A Systematic Assessment' from The Lancet Global Health.

According to their analysis, India has the highest rate of excess female deaths, 13.5 per 1,000 female births, which suggests that an estimated one in nine deaths of females below the age of 5 may be attributed to postnatal sex selection.

The report notes that governments have also taken action to address the root causes of sex selection. India and Vietnam have included campaigns that target gender stereotypes to change attitudes and open the door to new norms and behaviours.

They spotlight the importance of daughters and highlight how girls and women have changed society for the better. Campaigns that celebrate women's progress and achievements may resonate more where daughter-only families can be shown to be prospering, it said.

The report said that successful education-related interventions include the provision of cash transfers conditional on school attendance; or support to cover the costs of school fees, books, uniforms and supplies, taking note of successful cash-transfer initiatives such as Apni Beti Apna Dhan' in India.

It said that preference for a male child manifested in sex selection has led to dramatic, long-term shifts in the proportions of women and men in the populations of some countries.

This demographic imbalance will have an inevitable impact on marriage systems. In countries where marriage is nearly universal, many men may need to delay or forego marriage because they will be unable to find a spouse, the report said.

This so-called "marriage squeeze", where prospective grooms outnumber prospective brides, has already been observed in some countries and affects mostly young men from lower economic strata.

"At the same time, the marriage squeeze could result in more child marriages, the report said citing experts.

Some studies suggest that the marriage squeeze will peak in India in 2055. The proportion of men who are still single at the age of 50 is forecast to rise after 2050 in India to 10 per cent, it said.

The UN report said that every year, millions of girls globally are subjected to practices that harm them physically and emotionally, with the full knowledge and consent of their families, friends and communities.

At least 19 harmful practices, ranging from breast ironing to virginity testing, are considered human rights violations, according to the UNFPA report, which focuses on the three most prevalent ones: female genital mutilation, child marriage, and extreme bias against daughters in favour of sons.

Harmful practices against girls cause profound and lasting trauma, robbing them of their right to reach their full potential, says UNFPA Executive Director Dr. Natalia Kanem.

This year, an estimated 4.1 million girls will be subjected to female genital mutilation. Today, 33,000 girls under age 18 will be forced into marriages, usually to much older men and an extreme preference for sons over daughters in some countries has fuelled gender-biased sex selection or extreme neglect that leads to their death as children, resulting in the 140 million missing females.

The report said that ending child marriage and female genital mutilation worldwide is possible within 10 years by scaling up efforts to keep girls in school longer and teach them life skills and to engage men and boys in social change.

Investments totalling USD 3.4 billion a year through 2030 would end these two harmful practices and end the suffering of an estimated 84 million girls, it said.

A recent analysis revealed that if services and programmes remain shuttered for six months due to the COVID-19 pandemic, an additional 13 million girls may be forced into marriage and 2 million more girls may be subjected to female genital mutilation between now and 2030.

The pandemic both makes our job harder and more urgent as so many more girls are now at risk, Kanem said.

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News Network
May 14,2020

May 14: Customs officials on Wednesday intercepted China-bound consignments of raw material for masks, misdeclared as packing materials for pouches, in large quantities, a senior official said.

It has also seized multiple shipments containing 5.08 lakh masks, 57 litres of sanitiser and 952 PPE kits bound for the US, the UK and the UAE, the official said.

The export of such goods is prohibited by the government in the wake of the COVID-19 pandemic.

"On the basis of specific intelligence, 2,480 kg of raw material for masks was intercepted by air cargo export, Delhi Customs. The goods were misdeclared as packing materials for pouches and were being illegally attempted to be smuggled/ exported to China," he said. 

These goods are prohibited for export as per the latest guidelines issued by the Directorate General of Foreign trade (DGFT), he said, adding that investigation into the case is under progress.

In another catch, the air cargo officers intercepted multiple shipments containing 5.08 lakh masks, 57 litres of sanitiser in 950 bottles and 952 PPE kits at the courier terminal in New Delhi. These were attempted to be smuggled or exported out of the country, the official said.

"These goods are also prohibited for export," he added. 

These items were being illegally exported to the United States, United Kingdom and the United Arab Emirates. "No arrests have been made so far," the official said.

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Agencies
June 14,2020

Mumbai, Jun 14: A 42-year old man suddenly collapsed and died due to natural causes onboard Air India's Lagos-Mumbai flight on Sunday, the national carrier said.

The flight was part of Vande Bharat Mission, under which the Central government is operating special repatriation flights to bring back stranded Indians from abroad amid the coronavirus pandemic.

Air India's flight AI 1906 departed from Lagos in Nigeria at 7 pm Indian Standard Time on Saturday and landed in Mumbai at 3.45 am on Sunday.

"A passenger aboard AI 1906 of June 13 from Lagos to Mumbai passed away due to natural causes today.

"A doctor onboard along with our crew, trained to handle such medical emergencies, made a valiant attempt to revive the passenger, aged 42, who had suddenly collapsed, through resuscitation etc but all their efforts went in vain," the airline's spokesperson said.

He was declared dead onboard by the attending doctor. Mumbai International Airport Limited doctors attended to the passenger after the flight landed at 3.45 am and after all the procedures were complete, the body was sent to a hospital as per protocol, the spokesperson noted.

Relatives of the deceased were informed and aircraft was taken for full fumigation as per the norms, the spokesperson said.

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