India, China favour joint economic strategy

[email protected] (The Hindu)
November 27, 2012

India_china

New Delhi, November 27: Displaying enhanced trust, India and China on Monday formulated an economic strategy for increasing trade and ensuring development and economic growth amid global economic slowdown.

The planning commissions of the two Asian majors signed as many as 11 MoUs worth $5 billion (Rs. 27,865 crore) allowing market access to financial institutions in either country to boost investment and expand commercial operations.

The Second India-China Strategic Economic Dialogue between the Planning Commission of India and the National Development and Reform Commission of China successfully deliberated on a host of issues for “greater cooperation at the global level, strengthening communication on macroeconomic policies, deepening and expanding trade and investment and promoting bilateral cooperation in the financial and infrastructure sectors.”

Deputy Chairman of Planning Commission Montek Singh Ahluwalia and his Chinese counterpart Zhang Ping discussed the outcomes of the working groups on policy coordination, infrastructure, energy, environment protection and high-technology set up at the first dialogue held in Beijing in September 2011.

The two sides decided to increase their cooperation to cope with the global situation and pursue common interests in international monetary and financial systems; stabilise the volatility in global commodity markets; work towards sustainable development and climate change goals; and ensure food and energy security.

Concerned over the declining global growth trends and demand, the two countries decided to jointly strive to maintain continued economic growth through a slew of agreed measures.

For expanding trade and investment, the thrust would be on an open trade regime by removing market barriers, enhancing business exchanges and improving transportation links, Mr. Ahluwalia told reporters.

Bilateral trade would be enhanced from $74 billion to $100 billion, Mr. Ahluwalia said, adding that both were working to make it more balanced.

The two countries also agreed for greater financial cooperation by allowing financial institutions to set up operations in either country and expanding commercial operations and support enterprises.

They also agreed on conducting joint studies on issues of mutual interest focusing on benefits of best practices and information exchanges and skills development, among other sectors.


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News Network
January 18,2020

Kanpur, Jan 18: Kanpur has witnessed an Unnao-like incident as the out on bail accused in rape case attack the family members of the victim. The mother of the victim, who later died in the hospital, was brutally attacked by the accused. The accused reportedly attacked the victim's mother and her aunt on January 8.

The actual rape case goes back to 2018 when a group of men abducted a minor girl from her own society. The accused had reportedly raped her and also beaten up her mother.

A video of mother being beaten up reportedly went viral soon after.

The mother of the victim had reportedly filed a complaint against one of the accused for abducting and molesting her daughter two years ago at a tannery falling under jurisdiction of Chakeri police station. The main accused along with five others was booked under section 354 of the IPC (sexual assault of children) and sent to jail. Around two weeks ago, the accused got bail and on January 9 they attacked the deceased and her sister.

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News Network
May 3,2020

New Delhi, May 3: Union Health and Family Welfare Minister Dr Harsh Vardhan on Sunday said that India's COVID-19 mortality rate of 3.2 per cent is the lowest in the world and over 10,000 coronavirus patients have been discharged from hospitals after recovering from the disease so far.

"Today more than 10,000 COVID-19 patients have been discharged. Those still admitted at hospitals are on the road to recovery. If in last 14 days doubling rate was 10.5 days, then today it is around 12 days," the Minister told ANI after visiting Lady Hardinge Hospital.

"Our mortality rate of 3.2 per cent is the lowest in the world," he said.

With 2,644 more COVID-19 cases and 83 deaths in the last 24 hours, the number of people infected from coronavirus in the country has reached 39,980 including 1,301 deaths, said the Union Ministry of Health and Family Welfare on Sunday.

Currently, there are 28,046 active cases while 10,633 COVID-19 positive patients have been cured/discharged.

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Agencies
May 12,2020

New Delhi, May 13: Prime Minister Narendra on Tuesday announced Rs 20 lakh crore special economic package for the country to be 'self-reliant' and deal with COVID-19.

"I announce a special economic package today. This will play an important role in the 'Atmanirbhar Bharat Abhiyan.' The announcements made by the government over COVID, decisions of RBI and today's package totals to Rs 20 lakh crore. This is 10 per cent of India's GDP," said Prime Minister Modi in his address to the nation. The Prime Minister said that humanity would not accept defeat from the coronavirus but the people have to stay safe and move forward.

"We had never seen or heard about such a crisis ever before. This is definitely unimaginable for mankind. It is unprecedented. But humanity will not accept defeat from this virus. We have to not only protect ourselves but also move forward," he said.

Talking about the gravity of the virus, Modi said: "It has been four months the world is fighting COVID-19. More than 42 lakh people from different countries have been infected by COVID-19. More than 2.75 lakh people have lost their lives due to the virus. In India too many families have lost their dear ones, I express my condolences to them."

"Today when the entire world is in crisis, we will have to further firm our resolve," he added.

The Prime Minister on Monday held a video conference meeting with Chief Ministers of all states to discuss the road ahead in India's fight against COVID-19 and noted that he was of the firm view that measures needed during the third phase of lockdown will not be needed in the fourth phase.

Prime Minister Modi had said the need was to reduce the transmission rate of the disease and to increase public activity gradually while adhering to all the guidelines and efforts to be made towards achieving both these objectives.

The phase three of the lockdown is coming to an end on May 17.

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