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New Delhi, Jan 1: The new Army chief Lieutenant General MM Naravane on Wednesday said that India needs to pay more attention to its border along China and asserted that the force is capable of dealing with any security challenge.

"We have been giving attention to our western front in the past. The northern front now also requires an equal amount of attention... The Army is capable of tackling any dangers to the country," General Naravane told reporters after receiving the first Guard of Honour as the Army chief.

"In that context, we are now going in for capability development and enhancement of our capacities even in our northern borders which includes the northeastern part of our country," he said.

On the border dispute with China, the Army chief said that continuing peace along the border will pave the way for a solution.

He said: "We have been able to maintain peace and tranquility along borders and I'm sure that situation will prevail. By maintaining this, we will be able to set the stage for the eventual solution."

General Naravane said that operational readiness and modernisation will be among the top priorities of the Army under his leadership.

"Our priority will be to be ready to meet any challenge and to be operationally prepared at all times. This will happen as a result of modernisation. We will continue to build our capability especially in the North and Northeast region of our country," he said.

He said that the Indian Army will pay special attention to respect human rights. "We will also pay special emphasis on raising security awareness among ranks and file and pay special attention to respect human rights," the Army chief said.

Assuring the country on security, he said, "All three services — the Army, the Navy and the Air Force — are ready to defend the country."

He extended wishes to people in the new year and hoped that the country will make huge progress in this decade.

General Naravane took over as the 28th Chief of the Army Staff (COAS) on Tuesday, succeeding General Bipin Rawat who has become India's first Chief of Defence Staff (CDS).

General Naravane was previously the Vice Chief of Army Staff.

The World Bank says that a lack of credit and drop in private consumption have led to a gloomy growth outlook for India with a steep cut in growth rate for the current fiscal year and only a modest gain projected for the next year.

India's growth rate is forecast to be only 5 per cent for the current fiscal year, weighed down by a growth of only 4.5 per cent in the July-September quarter, according to the 2020 Global Economic Prospects report released on Wednesday.

"In India, [economic] activity was constrained by insufficient credit availability, as well as by subdued private consumption," the Bank said.

The growth rate is forecast by the Bank to pick up to 5.8 per cent in the next fiscal year and to 6.1 per cent in 2021-22.

India's growth rate was 6.8 per cent in 2018-19.

The 5 per cent growth rate projection for the current financial year is a sharp cut of 2.5 per cent from the 7.5 per cent forecast made by the Bank in January last year, toppling it from the rank of the world's fastest growing economy.

India's performance follows a global trend of lowered growth weighed down by developed economies.

The report estimated world economic growth rate to be only 2.4 per cent last year and forecast it to edge up 0.1 per cent to 2.5 per cent in the current year.

Even with the lower growth rate of 5 per cent in the current fiscal year and 5.8 per cent forecast for the next, India holds the second rank among large economies, behind only China with an estimated growth rate of 6.1 per cent for 2019 and 5.9 per cent this year.

The report blamed "weak confidence, liquidity issues in the financial sector" and "weakness in credit from non-bank financial companies" for India's slowdown.

The Bank predicated India's recovery to 5.8 per cent in the coming financial year for India but "on the monetary policy stance remaining accommodative" and the assumption that "the stimulative fiscal and structural measures already taken will begin to pay off."

It also warned that sharper-than-expected slowdown in major external markets such as United States and Europe, would affect South Asia through trade, financial, and confidence channels, especially for countries with strong trade links to these economies."

The Bank said that the growth of advanced economies was 1.6 per cent last year and "is anticipated to slip to 1.4 per cent in 2020 in part due to continued softness in manufacturing."

In contrast the growth of emerging market and developing countries is expected to accelerate from 3.5 per cent last year to 4.1 per cent this year, the report said.

In South Asia, Bangladesh is estimated to have the highest growth rate of 7.2 per cent in the current fiscal year, although down from 8.1 per cent last fiscal year.

But its higher regional growth rates are coming off a lower base with a per capital gross domestic product of $1,698 compared to $2,010 for India.

Bangladesh is expected to grow by 7.3 per cent in the next financial year.

Pakistan's growth rate is estimated at only 2.4 per cent in the current fiscal year and is projected to rise to 3 per cent in the next, according to the Bank.

The Bank blamed monetary tightening in Pakistan for a sharp deceleration in fixed investment and a considerable softening in private consumption for the fall in growth rate from 3.3 per cent in the 2018-19 fiscal year.

Sri Lanka's growth rate was estimated to be 2.7 per cent last year and forecast to grow to 3.3 per cent this year.

Nepal grew by an estimated 6.4 per cent in the current fiscal year and will rise to 6.5 per cent in the next.

May 29: Over 45,000 stranded Indians were brought back home from abroad under the Vande Bharat mission and another 1,00,000 will be evacuated till June 13, the Ministry of External Affairs said on Thursday.

The mega evacuation mission was launched on May 7.

MEA Spokesperson Anurag Srivastava said the government is also assisting return of stranded Indians from remote locations in Latin America and Caribbean, Africa, and parts of Europe.

"This is being done by taking advantage of foreign carriers flying to India primarily for evacuation of their nationals," he said during an online media briefing.

He said a total of 45,216 Indians were brought back till Thursday afternoon and they include 8,069 migrant workers, 7,656 students and 5,107 professionals.

About 5,000 Indians have returned through land border from Nepal and Bangladesh.

In the first phase of the mission from May 7 to 15, the government evacuated around 15,000 people from 12 countries. The second phase of the evacuation mission was scheduled from May 17 to 22. However, the government has extended it till June 13.

Srivastava said a total of 3,08,200 people have registered their request with Indian missions abroad for repatriation to India on compelling grounds.

"During the phase two, a total of 429 Air India flights (311 international flights + 118 feeder flights) from 60 countries are scheduled to land in India. The Indian Navy will be making four more sorties to bring back returnees from Iran, Sri Lanka and the Maldives," Srivastava said.

The MEA spokesperson said the government is targeting to bring back 1,00,000 people from 60 countries by the end of phase two of the Vande Bharat mission.

"Preparations for third phase of Vande Bharat Mission are well underway," he said.

As per the government's policy for evacuation, Indians having "compelling reasons" to return like pregnant women, elderly people, students and those facing the prospect of deportation are being brought back home.