India, Myanmar to explore new initiatives to boost ties: PM

May 27, 2012

pm


New Delhi, May 27: Prime Minister Manmohan Singh today said India and Myanmar would explore new initiatives and define a roadmap for further boosting of bilateral ties with focus on trade, investment and connectivity as he begins a three-day visit to that country.

Pointing out that India attaches the highest importance to its relations with Myanmar, a "close friend and neighbour", Singh said in a statement shortly before his departure for Nay Pyi Taw, Myanmar's new capital, that "recent years have witnessed significant strengthening and expansion of our bilateral relations" and his coming visit "will provide an opportunity to review the progress in implementation of decisions" taken during the "highly successful visit" of Myanmar President Thein Sein to India in October last year.

"We will also consider new initiatives and define a roadmap for the further development of our cooperation in the years ahead," said Singh who will be the first Indian Prime Minister to visit Myanmar in quarter of a century since Rajiv Gandhi's trip to that country in December, 1987.

The Prime Minister, who will hold talks with Sein tomorrow at Nay Pyi Taw, said that during his visit to Myanmar he hopes to focus on "stronger trade and investment links, development of border areas, improving connectivity between our two countries and building capacity and human resources".

"We also hope to sign a number of agreements and MoUs to further strengthen our bilateral cooperation in these areas, besides promoting people-to-people contacts," Singh said.

Singh, who will also meet leader of the opposition and Nobel Laureate Aung San Suu Kyi in Yangon on Tuesday, said India welcomes Myanmar's "transition to democratic governance and the steps taken by the government of Myanmar towards a more broad-based and inclusive reconciliation process and offered to share "democratic experiences" with that country. Since taking office more than a year ago, President Thein Sein has surprised many critics by releasing Suu Kyi from 15 years of house arrest and allowing her National League for Democracy (NLD) to contest and win parliamentary elections in April this year, freeing other political prisoners, opening talks with ethnic rebels and easing media censorship and restoring labour unions right to strike.

Singh said he was looking forward to address a cross- section of Myanmar society and interact with the Indian and Indian-origin community in Yangon on the final day of his visit.

The Prime Minister said the "shared history and culture" of India and Myanmar "provides a strong basis for the enhancement of contacts between the people of our two countries" and India remains "committed to a close, cooperative and mutually beneficial partnership with the government and people of Myanmar".

Singh said he is looking forward to visiting the historic Shwedagon Pagoda, a testament to 2600 years of Buddhist heritage, and the mazar (the grave) of the last Emperor of India, Bahadur Shah Zafar, in Yangon.

The Pagoda houses the hairs of Lord Buddha who had given them to two merchant brothers in return for a honey cake they offered to him.

High on Singh's agenda of talks with Myanmar President Thein Sein, a former army general heading a quasi-civilian government, will be deepening ties in energy, security, connectivity, trade and information technology.

The two countries are expected to sign a number of agreements in energy sector and connectivity during the visit.

The high-points among the slew of agreements will be the ones relating to an offshore gas block awarded to private Indian company Jubilant Energy in global competition and a passenger bus service between Imphal and Mandalay, Myanmar's second largest city after Yangon.India will be flagging its interests in getting more opportunities in both offshore and onshore energy sources in Myanmar. GAIL and OVL already have minority stakes in energy sector from where the gas is being transported to China.

India expects that the visit of the Prime Minister, who will be accompanied by his wife Gursharan Kaur and External Affairs Minister S M Krishna, will take bilateral relations to a "new level" given the new political environment in Myanmar which has seen remarkable political reforms that have seen that country emerging from decades of diplomatic isolation.

As Myanmar transitions towards democracy after more than five decades of often repressive military rule, its resource- rich but impoverished economy is also opening up holding out immense potential in virtually all areas.

The Prime Minister's engagements include a public address on "India and Myanmar: A Partnership for Progress and Regional Development" where the leading think-tanks of Myanmar and the business captains of the two countries will be present.

Reflecting the importance of the economic content of the bilateral relations, a group of captains Indian business and industries representing energy, telecom, IT, steel and agriculture sectors will be in Myanmar during Singh's visit.

As the gateway to South East Asia, Myanmar has been of considerable strategic significance to India and central to its Look East policy, given its energy reserves, and 1640km border with insurgency-hit four northeastern states--Mizoram, Nagaland, Manipur and Arunachal Pradesh.

Security concerns have prompted New Delhi to remain engaged with the military junta in Myanmar despite criticism from Western countries. During a visit to New Delhi in 2010, President Barrack Obama had chided India for not speaking out over human rights abuses in Myanmar.

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March 27,2020

Mumbai, Mar 27: The RBI on Friday put on hold EMI payments on all term loans for three months and cut interest rate by steepest in more than 11 years as it joined the government effort to rescue a slowing economy that has now got caught in coronavirus whirlwind.

The Reserve Bank of India (RBI) cut repo to 4.4 per cent, the lowest in at least 15 years. Also, it reduced the cash reserve ratio maintained by the banks for the first time in over seven years. CRR for all banks was cut by 100 basis points to release Rs 1.37 lakh crore across banking system.

The reverse repo rate was cut by 90 bps to 4 per cent, creating an asymmetrical corridor.

RBI Governor Shaktikanta Das predicted a big global recession and said India will not be immune.

It all depends how India responds to the situation, he said.

Global slowdown could make things difficult for India too, despite some help from falling crude prices, Das said, adding food prices may soften even further on record crop production.

Aggregate demand may weaken and ease core inflation further, he noted.

The liquidity measures announced include auction of targeted long-term repo operation of 3 year tenor for total amount of Rs 1 lakh crore at floating rate and accommodation under Marginal Standing Facility to be increased from 2 per cent to 3 per cent of Statutory Liquidity Ratio (SLR) with immediate effect till June 30.

Combined, these three measures will make available a total Rs 3,74,000 crore to the country's financial system.

After cutting policy rates five times in 2019, the RBI had been on a pause since December in view of high inflation.

The measures announced come a day after the government unveiled a Rs 1.7 lakh crore package of free foodgrains and cash doles to the poor to deal with the economic impact of the unprecedented 21-day nationwide lockdown.

While the Monetary Policy Committee (MPC) of the RBI originally was slated to meet in the first week of April, it was advanced by a week to meet the challenge of coronavirus.

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News Network
June 5,2020

New Delhi, Jun 5: On World Environment Day, Prime Minister Narendra Modi on Friday urged citizens to ensure that the flora and fauna thrive and take a pledge to preserve our planet's rich biodiversity.

"On #WorldEnvironmentDay, we reiterate our pledge to preserve our planet's rich biodiversity. Let us collectively do whatever possible to ensure the flora and fauna with whom we share the Earth thrive. May we leave an even better planet for the coming generations," the Prime Minister tweeted.

He also shared a clip from his last 'Mann Ki Baat' programme where he mentioned about conservation of rainwater and protecting the rich diversity of nature.

"On June 5, the entire world will celebrate 'World Environment Day'. The theme for this year's 'World Environment Day' is bio-diversity. This theme is especially pertinent in the current circumstances. During lockdown in the last few weeks the pace of life may have slowed down a bit but it has also given us an opportunity to introspect upon the rich diversity of nature or biodiversity around us," the Prime Minister had said.

"Much of the avian fauna had sort of disappeared due to sound and air pollution, and now after years people can once again listen to their melodic chirping in their homes," he said.

The Prime Minister also said that water conservation, in particular the conservation of rainwater, is essential and exhorted everyone to strive for saving rainwater in the upcoming monsoons.

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News Network
July 27,2020

New Delhi, Jul 27: India's COVID tally on Monday crossed 14 lakh mark with the highest single-day spike of 49,931 cases reported in the last 24 hours, said the Union Ministry of Health and Family Welfare.

The total COVID-19 cases stand at 14,35,453, including 4,85,114 active cases, 9,17,568 cured/discharged/migrated, it added.

With 708 deaths in the last 24 hours, the cumulative toll reached 32,771.

India had crossed 13 lakhs COVID-19 cases on July 25.

Maharashtra has reported 3,75,799 coronavirus cases, the highest among states and Union Territories in the country.

A total of 2,13,723 cases have been reported from Tamil Nadu till now, while Delhi has recorded a total of 1,30,606 coronavirus cases.

According to the Indian Council of Medical Research (ICMR), 5,15,472 samples were tested for coronavirus on Sunday and overall 1,68,06,803 samples have been tested so far.

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