India one of fastest-growing large economies: IMF

Agencies
March 22, 2019

Washington, Mar 22: India has been one of the fastest-growing large economies in the world, the International Monetary Fund (IMF) has said, asserting that the country has carried out several key reforms in the last five years, but more needs to be done.

Responding to a question on India's economic development in the last five years at a fortnightly news conference here, IMF communications director Gerry Rice Thursday said, "India has of course been one of the world's fastest-growing large economies of late, with growth averaging about seven per cent over the past five years."

"Important reforms have been implemented and we feel more reforms are needed to sustain this high growth, including to harness the demographic dividend opportunity, which India has," he said.

Details about the Indian economy would be revealed in the upcoming World Economic Outlook (WEO) survey report to be released by the IMF ahead of the annual spring meeting with the World Bank next month, he said.

This report would be the first under Indian American economist Gita Gopinath, who is now IMF's chief economist.

"The WEO will go into more details. But amongst the policy priorities, we would include accelerate the cleanup of banks and corporate balance sheets, continue fiscal consolidation, both at centre and state levels, and broadly maintain the reform momentum in terms of structural reforms in factor markets, labour, land reforms and further enhancing the business climate to achieve faster and more inclusive growth," Rice said.

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News Network
February 24,2020

New Delhi, Feb 24: They hail from vastly different backgrounds — Donald Trump is the son of a property tycoon while Narendra Modi is a descendant of a poor tea-seller.

Yet the two teetotallers, loved by right-wing nationalists in their home countries, share striking similarities that have seen them forge a close personal bond, analysts say.

Ahead of the American leader's first official visit to India, which begins in Modi's home state of Gujarat on Monday, the world's biggest democracy has gone out of its way to showcase the chemistry between them.

In Gujarat's capital Ahmedabad, large billboards with the words "two dynamic personalities, one momentous occasion" and "two strong nations, one great friendship" have gone up across the city.

"There's a lot that Trump and Modi share in common, and not surprisingly these convergences have translated into a warm chemistry between the two," Michael Kugelman of the Washington-based Wilson Center said.

"Personality politics are a major part of international diplomacy today. The idea of closed-door dialogue between top leaders has often taken a backseat to very public and spectacle-laden summitry."

Since assuming the top political office in their respective countries — Modi in 2014 and Trump in 2017 — the two men have been regularly compared to each other.

Trump, 73, and Modi, 69, both command crowds of adoring flag-waving supporters at rallies. A virtual cult of personality has emerged around them, with their faces and names at the centre of their political parties' campaigns.

A focus of Trump's administration has been his crackdown on migrants, including a travel ban that affects several Muslim-majority nations, among others, while critics charge that Modi has sought to differentiate Muslims from other immigrants through a contentious citizenship law that has sparked protests.

Both promote their countries' nationalist and trade protectionist movements — Trump with his "America First" clarion call and Modi with his "Make in India" mantra.

And while they head the world's largest democracies, critics have described the pair as part of a global club of strongmen that includes Russia's Vladimir Putin and Brazil's Jair Bolsonaro.

"There are many qualities that Trump and Modi share — a love for political grandstanding and an unshakable conviction that they can achieve the best solutions or deals," former Indian diplomat Rakesh Sood said.

Modi and Trump have sought to use their friendship to forge closer bonds between the two nations, even as they grapple with ongoing tensions over trade and defence.

Despite sharing many similarities in style and substance, analysts say there are some notable differences between the pair.

Modi is an insider who rose through the ranks of the Bharatiya Janata Party after starting out as a cadre in Rashtriya Swayamsevak Sangh.

Trump is a businessman and a political outsider who has in some sense taken over the Republican Party.

"Modi is a more conventional leader than is Trump in that he hasn't sought to revolutionise the office he holds in the way that Trump has," said Kugelman, a longtime observer of South Asian politics.

He added that genuine personal connections between leaders of both countries have helped to grow the partnership.

"George Bush and Manmohan Singh, Barack Obama and Singh, Obama and Modi, now Modi and Trump — there has been a strong chemistry in all these pairings that has clearly helped the relationship move forward," he added.

Trump has also stood by the Indian leader during controversial decisions, including his revocation of autonomy for Kashmir and his order for jets to enter Pakistani territory following a suicide bombing.

Analysts said the leaders would use the visit to bolster their image with voters.

A mega "Namaste Trump" rally in Ahmedabad on Monday will be modelled after the "Howdy, Modi" Houston extravaganza last year when the Indian leader visited the US and the two leaders appeared before tens of thousands of Indian-Americans at a football stadium.

"The success of this visit... will have a positive impact on his (Trump's) re-election campaign and the people of Indian origin who are voters in the US — a majority of them are from Gujarat," former Indian diplomat Surendra Kumar said.

"On the Indian side, the fact that Prime Minister Modi... (shares) such warmth, bonhomie and informality with the most powerful man on Earth adds to his stature... as well as with hardcore supporters."

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News Network
June 12,2020

An Indian national was killed and four others injured in alleged firing by Nepal police personnel along the India-Nepal border in Bihar's Sitamarhi district today.

Sources said the firing took place after a clash between the Indians and personnel of Nepal police at the Lalbandi-Janki Nagar border in Pipra Parsain panchayat under Sonebarsha police station of the district.

Jitendra Kumar, the additional director general of police (headquarters), confirmed the death and injuries. The place of firing falls under Nepal jurisdiction.

Locals said Vikesh Kumar Rai, 25, died on the spot and Umesh Ram and Uday Thakur received bullet injuries when they were working in an agricultural field. Another person, Lagan Rai, is said to have been detained by the Nepali police.

Injured persons were rushed to Sitamarhi Sadar Hospital for better treatment.

Vikesh Kumar Rai’s father, Nageshwar Rai, said that his agriculture land falls under Narayanpur in Nepal where his son was working.

On May 17, Nepal police had fired blank rounds to disperse dozens of Indians trying to cross the border. It was not clear if they were also farmers.

The district magistrate and the superintendent of police of Sitamarhi have rushed to the spot.

Nepal shares a 1,850-kilometre (1,150-mile) open border with India and people travel across it for work and to visit family. It had closed its international borders on March 22 amid the coronavirus pandemic.

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News Network
May 21,2020

London, May 21: Working mothers in Europe and the United States are taking on most of the extra housework and childcare created by lockdown - and many are struggling to cope, a survey showed on Thursday.

Women with children now spend an average 65 hours a week on the unpaid chores - nearly a third more than fathers - according to the Boston Consulting Group, which questioned parents in five countries.

"Women have been doing too much household work for too long, and this crisis is pushing them to a point that's simply unsustainable," Rachel Thomas, of U.S.-based women's rights group LeanIn.Org, said in response to the data.

"We need a major culture shift in our homes and in our companies ... We should use this moment to build a better way to work and live – one that's fair for everybody."

Researchers say fallout from the pandemic weighs on women in a host of ways, be it in rising domestic violence or in lower wages, as some women cut paid work to take on the new duties.

With lockdowns shutting schools and keeping citizens at home, creating a mountain of domestic work, public campaigns from Georgia to Mexico have urged men to do their fair share.

But women, who on average already do more at home than men, are now shouldering most of the new coronavirus burden, too, said the survey of more than 3,000 working parents in the United States, Britain, Italy, Germany and France.

Women's unpaid hours at home have nearly doubled to 65 hours a week, said the survey, against 50 logged by an average father.

British women are more likely to support others in the COVID-19 pandemic and are finding it harder to stay positive, according to separate analysis released this week by polling firm Ipsos MORI and feminist organisation The Fawcett Society.

It is "no surprise" to see women do more childcare and housekeeping on top of their day jobs, Jacqui Hunt of women's rights group Equality Now, told the Thomson Reuters Foundation.

However, there are "hopeful signs" that men in West Africa are sharing more childcare during the pandemic in a shift in social norms, found a small rapid analysis by humanitarian organisation CARE International released on Wednesday.

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