The UAE-India CEPA went into operation on 1st May last year. In the nine months since then, it has boosted trade and commerce between the two countries…reports Asian Lite News
India’s Prime Minister, Narendra Modi, has praised Indian exporters for utilising the business opportunities offered by the UAE-India Comprehensive Economic Partnership Agreement (CEPA).
In a tweet on his official Twitter account, Modi said it was “a great sign of Indian enterprise, and it will make Indian products popular globally.”
Modi’s statement came after India’s Minister for Commerce and Industry, Piyush Goyal, acknowledged that “exports are roaring” because of the CEPA.
The UAE-India CEPA went into operation on 1st May last year. In the nine months since then, it has boosted trade and commerce between the two countries.
“Massive rise in exports to UAE signifying a sharp pick-up in the utilisation of the CEPA,” Goyal tweeted.
Millets: UAE on focus
The UAE has become a focus country for the promotion of Indian millets. The year 2023 has been declared by the United Nations as the International Year of the Millet.
The Agriculture and Processed Food Products Export Development Authority (APEDA) of India organised on Wednesday a virtual buyer-seller meet to increase export opportunities in the UAE for millets.
Millets are a cereal which is increasingly used in pizzas, Manchurian cuisine, Indian dishes like chilla and dosa, as well as Momos, popular in Bhutan, Nepal and the rest of the Himalayan region.
At the UN, the declaration of an International Year of the Millet this year was proposed by India, which wants to position itself as a global hub for this cereal.
Last week, India’s Prime Minister Narendra Modi, in his monthly radio address to the nation, said Indian embassies around the world have been asked make efforts to increase the popularity of millet.
In conformity with Modi’s directive, India’s Ambassador to the UAE, Sanjay Sudhir, said at the virtual buyer-seller meet that there are huge export opportunities for Indian millets and its value-added products in the UAE and other markets in the region.
He said, “India has always been a trusted partner of the UAE,” according to a media release on the event issued by the Indian government’s Press Information Bureau.
APEDA Chairman M Angamuthu said – following the virtual event – that his organisation plans to organise physical millet promotion events in Dubai and cities in Saudi Arabia “by facilitating the participation of different stakeholders from India in some significant food and road shows,” according to the media release.
India’s major millet export markets are the UAE, Saudi Arabia, Libya, Oman, Egypt, Tunisia and Yemen. “As per the Indian government’s millet promotion strategy, international retail supermarkets like the Lulu Group, Al Jazira and Al Maya in the Gulf will be roped in to establish millet corners for branding and promotion of millets.”
The global millet market, now valued at US$9 billion, is expected to grow to US$12 billion by 2025 because of the promotions during the International Year of the Millet. (By Krishnan Nayar)
The WGS will be held in Dubai from 13th to 15th February, under the slogan “Shaping Future Governments”…reports Asian Lite News
The World Government Summit 2023 will witness the participation of 20 presidents and more than 250 ministers, said Mohammad bin Abdullah Al Gergawi, Minister of Cabinet Affairs and Chairman of the WGS Organisation.
The WGS will be held in Dubai from 13th to 15th February, under the slogan “Shaping Future Governments”. The summit witnesses the participation of presidents, governments, ministers, officials, heads of international organisations and companies, thought leaders, global experts and prominent business leaders from the private sector.
“In its 2023 edition, the World Government Summit will witness the participation of 20 presidents, including Abdel Fattah El-Sisi, President of the Arab Republic of Egypt; Recep Tayyip Erdoğan, President of the Republic of Türkiye; Macky Sall, President of the Republic of Senegal and Chairperson of the African Union; Mario Abdo Benitez, President of the Republic of Paraguay; and President of the Republic of Azerbaijan Ilham Aliyev,” said Al Gergawi.
Al Gergawi pointed that this year’s edition will bring together more than 250 ministers, and more than 10,000 government officials, thought leaders and global experts around the world.
Leading The World For a Brighter Future
To learn from each other, coordinate and lead governments and societies with fruitful results; the world leaders will meet at the World Government Summit in Dubai, the UAE from February, 13 to 15, 2023.#WGS#wgs2023#WorldGovSummitpic.twitter.com/I0hzQKX16l
He added that more than 80 international, regional and governmental organisations will enrich the sessions and forums.
The sessions will witness the participation of Professor Klaus Schwab, Founder and Executive Chairman of the World Economic Forum; Kristalina Georgieva the Managing Director of the International Monetary Fund; Ngozi Okonjo-Iweala GCON the Director-General of the World Trade Organisation; Dr Tedros Adhanom Ghebreyesus the Director-General of the World Health Organisation; Ahmed Aboul Gheit , Arab League Secretary-General; Muhammad Sulaiman Al Jasser, Chairman, Islamic Development Bank (IsDB) Group; Jasem Al-Budaiwi the Secretary-General of the Cooperation Council for the Arab States of the Gulf (GCC); the International Finance Corporation (IFC) Managing Director and Executive Vice President.
In addition to a speech delivered by the Secretary-General of the United Nations and a speech from the President of the World Bank.
Also, the International Atomic Energy Agency, and the International Labour Organisation, will be participating.
He added that the summit will host a number of international leaders in the private sector, such as Ray Dalio is Founder, Co-Chairman and Co-Chief Investment Officer of Bridgewater Associates; Alan Schwartz, CEO of Guggenheim Partners; Hiroshi Mikitani the founder and CEO of Rakuten, Inc; and Christian Bruch the President and CEO of Siemens Energy.
Also, the summit will host a group of scientists such as the economist Esther Duflo and the chemist Dr. Roger Kornberg, Nobel Prize winners.
The agenda includes more than 220 sessions, where more than 300 speakers from thought leaders, global experts and decision makers from around the world will share visions and discuss ideas and strategies towards the future.
The Summit signed partnerships with more than 80 strategic, knowledge and media partners, and this year it issued 20 knowledge reports, in cooperation with the most important international research institutions.
The Summit will host a keynote and a dialogue entitled “Ras Al Khaimah… the past, the present and Future”, during which Sheikh Saud bin Saqr Al Qasimi, Ruler of Ras Al Khaimah will review the emirate’s vision, its most important experiences within the march of development in various sectors, and the prominent directions toward the future.
A number of forums, will be hosted in partnership with regional and international organisations, including the “Time 100” Gala, the Brilliant Minds Dialogue, the Agility in Government Forum, the Arab Public Administration Forum, and the GCC Best Practices Forum, in addition to the second edition of the Arab meeting for young Leaders.
During the summit, high-level ministerial meetings will be held, such as the meeting of Arab finance ministers in the presence of the President of the International Monetary Fund (IMF), and the meeting of Arab youth ministers in the presence of the Secretary-General of the League of Arab States.
80 bilateral agreements and major meeting will be witnessed during this current edition of the summit, aiming to provide an opportunity for decision-makers from around the world to consolidate cooperation and exchange visions on future governments.
6 themes
The World Government Summit 2023 will host a set of interactive dialogue sessions within 6 main themes, including Accelerating Development and Governance, Future of Societies and Healthcare, Exploring the Frontiers, Governing Economic Resilience and Connectivity, Global City Design and Sustainability, and Prioritising Learning and Work.
Dubai received 14.36 mn int'l visitors in 2022, close to pre-Covid levels.
Tourist travel to Dubai in 2022 reached 86 per cent of pre-Covid pandemic levels, exceeding global recovery levels of 63 per cent…reports Asian Lite News
Dubai received 14.36 million international overnight visitors in 2022, growing 97 per cent YoY from the 7.28 million tourist arrivals in 2021, according to the latest data published by Dubai’s Department of Economy and Tourism (DET).
This is an exceptional growth in visitation enables city to surpass global and regional tourism recovery levels.
The remarkable rise in international visitation in 2022 supports the ambitious goal of the Dubai Economic Agenda D33 to double the size of the emirate’s economy by 2033,” said Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai. “The tourism and travel sector contributes significantly to the leadership’s aim of making the emirate a model for excellence in the global economy.”
“The exceptional growth in the inflow of visitors reflects Dubai’s continued rise as one of the world’s most connected cities and its determination to lead the world in hospitality infrastructure and service levels. The high growth shows the world that we never rest on our achievements and constantly work to raise our benchmarks. I am confident that Dubai will be an even greater catalyst for the growth of global tourism and travel connectivity in the years ahead.”
By closing in on its pre-pandemic visitation of 16.73 million in 2019, Dubai’s 2022 tourism performance further validated its ranking as the No.1 global destination in the Tripadvisor Travellers’ Choice Awards 2023 for the second successive year, only the second city in history to achieve the feat.
The latest data from the United Nations World Tourism Organisation (UNWTO) shows that global tourist travel in 2022 was 37 per cent lower than 2019.
The Middle East saw the strongest relative increase, with arrivals climbing to 83 per cent of pre-pandemic numbers. Dubai exceeded both global and regional barometers of recovery with visitors to the city in 2022 reaching 86 per cent of pre-pandemic levels.
The strong performance in 2022 features some noteworthy spikes in Dubai’s traditional key markets and strong growth across emerging markets. Dubai remained a first-choice safe travel destination for visitors from the city’s stronghold markets.
From a regional perspective, Western Europe and GCC regions each accounted for a 21 per cent share of arrivals.
The GCC region in particular saw an exponential increase in their share of arrivals from 13 per cent in 2021 to 21 per cent last year.
South Asia contributed 17 per cent of total volumes while the MENA region contributed 12 per cent, further reinforcing Dubai’s continued appeal to travellers from proximity markets.
The Americas accounted for seven per cent of arrivals while the North Asia and South East Asia region and Africa each contributed five per cent and Australasia accounted for two per cent.
Dubai’s hotel sector, which continues to be integral to the emirate’s destination promise and the overall growth of the tourism industry, continued to perform strongly across all hospitality metrics.
Average occupancy for the hotel sector in 2022 stood at 73 per cent, one of the highest in the world, rising from 67 per cent in 2021. The figure is just short of the 75 per cent occupancy in the pre-pandemic period of 2019.
The high occupancy is particularly noteworthy as it was achieved despite a 16 per cent increase in room supply in 2022 compared to 2019. Dubai’s hotel inventory at the end of December 2022 comprised of 146,496 rooms at 804 hotel establishments, compared to 126,120 rooms available at the end of December 2019 across 741 establishments.
The total number of hotels in 2022 marked a six per cent growth over 2021, with 755 hotel establishments offering 137,950 rooms, figures that highlight the continued strong investor confidence in Dubai’s tourism sector.
The hotel sector outperformed pre-pandemic levels across all other key measurements – Occupied Room Nights, Average Daily Rate (ADR) and Revenue Per Available Room (RevPAR). Occupied room nights reached a record high of 37.43 million room nights in 2022, registering a 19 per cent increase vs. 2021 (31.47 million) and a 17 per cent increase over the pre-pandemic period of 2019, which yielded 32.11 million occupied room nights.
The ADR of AED536 in 2022 surpassed the ADRs for both 2021 (AED451) and 2019 (AED415), with 19 per cent and 29 per cent increases respectively.
The hotel sector’s robust performance is also evident in its RevPAR growth – an increase of 30 per cent compared to 2021 (AED391 v AED301) and an increase of 25 per cent over the pre-pandemic period of 2019 (RevPAR of AED312).
One of the biggest success stories of the region in 2022, Expo 2020 Dubai, made a massive contribution to the tourism industry’s outstanding performance. The six-month-long event, which attracted over 24 million visits, once again proved Dubai’s ability to host mega global events and reinforced its position as an international events’ destination.
Dubai seeks to further enhance its destination proposition across all tourism pillars, leveraging the retail and events sectors to attract more domestic and global visitors. In addition to Expo 2020, Dubai continued to host global business and leisure events across 2022 including Gulfood, the World Government Summit, Binance Blockchain Week, Gitex Global Dubai, the International Boat Show and the Arabian Travel Market.
Hundreds confirmed dead and casualties keeps rising as a 7.8 magnitude earth quake struck a wide area in Turkey and Syria, reports Asian Lite Newsdesk
Over 300 people were killed and more than 1,000 others injured in Turkey and Syria after a massive earthquake measuring 7.8 on the Richter scale struck a wide area near the two countries’ border, according to authorities.
The US Geological Survey said the tremor occurred at 4.17 a.m. at a depth of 17.9 km near the Turkish city of Gaziantep, reports the BBC reported.
Turkish President Recep Tayyip Erdogan said on Twitter that “search and rescue teams were immediately dispatched” to the areas hit by the quake.
Addressing reporters, Turkey’s Interior Minister Suleymon Soylu said the 10 cities of Gaziantep, Kahramanmaras, Hatay, Osmaniye, Adiyaman, Malatya, Sanliurfa, Adana, Diyarbakir and Kilis were affected.
While in Malatya province, north-east of Gaziantep, at least 23 people were killed, in Sanliurfa, to the east, there were 17 deaths, the Minister said, adding that the rest of the fatalities were reported in Diyarbakir and Osmaniye.
About 440 people were injured in Turkey and 639 in Syria.
Meanwhile, the Syrian Health Ministry said that 237 people were killed due to the quake which was also felt in Lebanon and Cyprus.
The fatalities were reported in the regions of Aleppo, Hama, Tartus and Latakia, according to the Syrian Arab News Agency.
The agency quoted Deputy Minister of Health Ahmad Damiriyeh as saying that general emergency plans have been implemented to provide for the affected areas and that private hospitals have been ordered to receive all injured cases, reports Xinhua news agency.
The Ministry of Transport announced earlier the suspension of train traffic on all railways as a precautionary measure, pending inspection of the bridges and tracks of the railway network.
Authorities in the two neighbouring nations fear an increase in the death toll as many buildings have collapsed and rescue teams were deployed to search for survivors under huge piles of rubble.
The initial quake was followed by another one measuring 6.4 on the Richter scale at 4.26 a.m., Xinhua news agency quoted Turkey’s Disaster and Emergency Management Authority (AFAD), as saying.
At least 50 successive earthquakes were recorded with a maximum magnitude of 6.6, said AFAD.
Widespread damage was reported in at least 10 provinces in southern and southeastern Turkey, it added.
India offers assistance
Expressing concern and shock over the massive earthquake that hit Turkey on Monday, Prime Minister Narendra Modi stated that India’s “140 crore people are with the victims of the earthquake in Turkey”.
Speaking after inaugurating the India Energy Week, PM Modi said, “We are focusing on Turkey presently which has suffered from a huge earthquake. Large number of people have lost their lives and it has caused huge losses to the country.”
PM Modi further stated that the surrounding countries of Turkey also suffered heavy losses due to the impact of the earthquake. India is ready to help earthquake victims, he stated.
Earlier, in response to a tweet by Turkey President Recep Tayyip Erdogan, Modi said, “Anguished by the loss of lives and damage of property due to the Earthquake in Turkey. Condolences to the bereaved families. May the injured recover soon. India stands in solidarity with the people of Turkey and is ready to offer all possible assistance to cope with this tragedy.”
The US National Security Advisor also took to Twitter and assured Turkey of timely assistance for the quake-hit country to cope well.
He tweeted, “The U.S. is profoundly concerned by today’s destructive earthquake in Turkiye & Syria. I have been in touch with Turkish officials to relay that we stand ready to provide any & all needed assistance. We will continue to monitor the situation in coordination with Turkiye closely.”
(FILE PHOTO): Mankading, 'Monkeygate' and other memories from a feisty rivalry
During India’s tour of Australia in 2008, the second Test in Sydney, remained as one of the most controversial in Test cricket history as former Australian cricketer Andrew Symonds and India’s iconic spinner Harbhajan Singh were involved in the verbal altercations…writes Bhavya Chand
India’s first series against Australia was in 1947-48, which was also the first time they played Test cricket since Independence. Though India predictably suffered 0-4 loss, but since that series, a new and most intense rivalry was born.
Here are some of the famous moments from Test matches between the two sides.
‘Mankading’ came into existence (1947-48): During India’s first series in Australia, Vinoo Mankad effected two run-outs in a similar fashion on two different occasions. He first run-out batsman Bill Brown during a match between India and Australia XI. Mankad again ran out the same batsman for backing up during the second Test match in Sydney.
The Australian press termed the run-outs as “Mankading”. Since the incident, the now-controversial style of getting batters run out is popularly known as Mankading all over the world.
Vijay Hazare’s twin tons (1948): In the fourth Test match of the same series, at Adelaide, where Australia piled up 674. Then, Vijay Hazare scored 116, but India failed to avoid the follow on.
Batting again, India were 0/2 in the first over, Hazare had walked out to bat an hour after he had got dismissed and scored 145 (out of 277), becoming the first cricketer to score Test hundreds on consecutive days.
Australia, Jan 19 (ANI): Indian squad celebrates with the National Flag Tricolour after winning the 4th Test Match and the series with Australia at The Gabba on Tuesday. (BCCI Twitter/ANI Photo)
Bob Simpson’s comeback triumphant (1977-78): Bob Simpson, who had retired from the game in 1968, had been hauled out of retirement to lead the Australian side during India’s tour of Australia.
After losing the first two Tests, India kept the series alive with comprehensive wins in the third and fourth, but Australia, anchored by Simpson’s 100 and 51, won the decider by 47 runs on the sixth day.
First Test win on Australian soil (1977): After losing the first Test by innings and four runs, Bedi Singh Bedi-led India finally managed to register their first Test win in the third match of the series, which came against Bob Simpson’s side in 1977 at Melbourne.
Skipper Bedi and B.S. Chandrasekhar’s spin magic bowled out Australia for a paltry 164 in the second innings to win the game by 222 runs, and registered their first victory on Australian soil.
Kapil Dev defies pain (1980-81): Australia needed just 143 runs for victory in Melbourne, which was expected to be a cakewalk for the hosts as India was in trouble with Kapil Dev (injured thigh) and Shivlal Yadav (fractured toe) were unavailable, while Dilip Doshi bowled with a fractured ankle.
Despite the odds, India reduced Australia to 24/3 by stumps but Australia were still favourites. Pain-killing injections helped Dev recover sufficiently to take to the field next morning and he took 5/28 to bowl out Australia for 83.
Epic Australia tour of India (2001): The 2001 Test series is regarded among the finest ever played in the history of the sport. The series where Sourav Ganguly-led side had ended a star-studded Australia’s record of 16-Test match winning streak.
After losing the series opener, from Harbhajan Singh’s hat-trick and VVS Laxman’s gritty innings of 281 to an unbelievable 376-run partnership that involved Rahul Dravid – India clinched the second Test match at Eden Gardens, before clinching the Test series in Chennai.
Infamous ‘Monkeygate’ scandal (2008): During India’s tour of Australia in 2008, the second Test in Sydney, remained as one of the most controversial in Test cricket history as former Australian cricketer Andrew Symonds and India’s iconic spinner Harbhajan Singh were involved in the verbal altercations erupting an infamous ‘Monkeygate’ controversy.
The former Australian all-rounder accused legendary spinner Harbhajan of making a racist remark towards Symonds, reportedly having called him a ‘monkey’.
In the immediate aftermath of the match, Mike Procter, the match referee, ruled that Harbhajan had breached Level 3 of the ICC’s Code of Conduct and handed a three-Test ban to the Indian spinner.
Warner’s tribute to Phil Hughes (2015): David Warner paid homage to Phil Hughes during day one of Australia’s fourth Test against India at the Sydney Cricket Ground – the ground where Hughes died.
Indian, Australian flag.
Warner kissed the ground when he reached 63 not out, the score Hughes was on when he was fatally injured, and went on to hit a century before being caught out by Murali Vijay.
First series win in Down Under (2019): The Virat Kohli-led India made history by becoming first Asian team to clinch a series in Australia when they beat hosts 2-1. The visitors defeated the hosts 2-1 after the fourth and final Test in Sydney was called a draw due to adverse weather.
Historic win at Gabba (2020-21): Australia’s famous stranglehold at Brisbane fortress overcome as Rishabh Pant, Cheteshwar Pujara and Shubhman Gill combine to complete one of India’s most remarkable Test and series victories. It was India’s first Test victory at the Gabba in their seventh visit since 1947-48, and the first time Australia has been beaten at what was flagged as their ‘fortress’ since 1988.
Set 328 to win on a day-five pitch against one of the best all-round attacks Australia has fielded in modern times, India stormed to a three-wicket win with three overs to spare.
After rookie Shubman Gill and veteran Cheteshwar Pujara had blunted Australia’s attack in the first half of the day, Pant delivered the knockout punches in a partnership with debutant Washington Sundar to seal India’s historic win with a boundary to long-off.
Experts have also lauded the Budget announcement on development of airports and heliports…reports KUMAR VIKRAM
While the last couple of months have witnessed consistent growth in the aviation traffic in the country, the budget announcement to revive 50 aircraft landing sites comprising airports, heliports and water aerodromes is likely to give more wings to the governments ambitious aviation scheme, Regional Connectivity Scheme Udan.
“Fifty additional airports, heliports, water aerodromes and advanced landing grounds will be revived for improving regional air connectivity,” Finance Minister Nirmala Sitharaman said in her Budget speech.
The importance of the regional connectivity scheme (RCS) can be gauged from the fact that the RCS has seen a doubling of allocation in this year’s Budget since the last allocation and has increased from Rs 600 crore to Rs 1,244 crore.
The government had launched RCS-UDAN (Ude Desh ka Aam Nagrik) in October, 2016 to enhance regional air connectivity from unserved and underserved airports in the country and making air travel affordable for the masses.
Under the scheme, 459 UDAN routes involving 72 airports including nine heliports and two water aerodromes have been operationalised across the length and breadth of the country. Over 1.13 crore passengers have travelled in more than 2.16 lakh UDAN flights, so far.
Nine heliports have been developed and operationalised under the UDAN scheme in Himachal Pradesh and Uttarakhand. Mandi and Rampur are in Himachal Pradesh while Almora, Chinyalisaur, Gaucher, Haldwani, New Tehri, Sahastradhara and Srinagar are in Uttarakhand.
The UDAN scheme is applicable for a period of 10 years from the date of notification of the scheme. The government has set a target to operationalise 1000 UDAN routes during the currency of the scheme and to revive and develop 100 unserved and underserved airports, heliports, water aerodromes by 2024.
Thereafter, the Krishi Udan Scheme was launched in August 2020 to assist farmers in transporting agricultural products so that it improves their value realization. Krishi Udan 2.0 mainly focuses on transporting perishable food products from the hilly areas, north-eastern states and tribal areas.
Experts have also lauded the Budget announcement on development of airports and heliports. Shamsher Dewan, Senior Vice President & Group Head – Corporate Ratings, ICRA Limited, said, “The Union Budget 2023-24 has reiterated its focus on improving regional air connectivity through the setting up of 50 additional airports, heliports, water aerodromes, and advanced landing grounds revival, which will boost domestic air travel. Further, the budget provides a lot of thrust on the promotion of tourism through the development of 50 tourist destinations covering various aspects and further through the development of theme-based local tourist spots.”
Sharing his views, Vinay Dube, founder and CEO, Akasa Air, said that the announcement of 50 additional airports and ramping up of the air transport infrastructure is a welcome move and will support the nation’s growing demand for air travel. “The focus on promoting domestic tourism will provide impetus to further revival of the sector and aligns with our vision to strengthen India’s transportation system,” he added.
As India is looking up to rise in the global supply chain and become a technology hub, the budget has allocated huge amounts for digital infrastructure and skilling of the young human resources in emerging technologies…reports Asian Lite News
Provisions of India’s Budget for FY 2023-24 show the country’s firm resolve to play the role of engine of growth for the sagging global economy. This is why India was earlier described by multilateral agencies as a bright spot amid global economic uncertainty and looming recession and Russia-Ukraine War further hurting the prospects of post pandemic economic recovery.
The International Monetary Fund’s (IMF) January 2023 World Economic Outlook Update projected a decline in global growth to 2.9 per cent in 2023 and a marginal improvement to 3.1 per cent in 2024. The forecast is 0.2 percentage point higher than predicted in the October 2022 but below the historical average of 3.8 per cent. Rising interest rates and the war in Ukraine continue to weigh on economic activity. But the update of IMF on Indian economy was still upbeat projecting a growth rate of 6.1 per cent slightly less than earlier forecast for FY 2023-24, and 6.8 per cent for FY2024-25.
Amid these uncertainties and pressures, India has acted as a beacon for the global economy by maintaining its growth momentum and the budget for FY 2023-24 raises hope that India would continue to maintain its growth momentum with a proposal for capital expenditure to the tune of Rs 10,000 crore in the ensuing year.
The acumen to maintain a high level of capital expenditure amid the continued effort of the government of India for fiscal prudence and financial consolidation is not only commendable, but a model many of the developing and developed countries could emulate. The FY 2023-24 budget shows that while India is traversing well on the path of fiscal prudence and consolidation as envisaged in India’s long and intermediate terms fiscal policy, it is also maintaining its commitment for the same in immediate and short terms.
MGNREGA.
The Union Budget 2023 has set the fiscal deficit target for the upcoming fiscal year at 5.9 per cent of gross domestic product (GDP). The proof of government’s success in remaining on the path of fiscal consolidation as conceived in India’s Fiscal Regulation and Budget Management Act (FRBM Act) lies in the fact that the Government of India succeeded in maintaining the target of 6.4 per cent of GDP in the current fiscal year. Even if a risk of possible fiscal slippage in the ensuing fiscal year is apprehended as general election campaigning begins in 2024, the recent success in meeting deficit targets shows that the risk is smaller than in the past.
The government has not shied to pursue fiscal prudence even in view of an election year in 2024. The evidence to that is rationalisation of expenditure of flagship rural employment assurance programme under Mahatma Gandhi National Rural Employment Guarantee Act (MNREGA). The Budget has proposed to earmark only Rs 60,000 crore for implementing the rural job scheme in 2023-24. The allocation for the rural job scheme for the next financial year is 17.80 per cent lower than the budgetary estimate of Rs 73,000 crore for 2022-23. Although, depending upon demand for such jobs MNREGA provides remaining sluggish has cut down the allocation to the programme as a rationalisation move, the government officials have made it clear that if demand for such jobs under MNREGA increase, it would allocate additional fresh supplementary budget to the head. This and other expenditure rationalisation moves helped the government to stick to the fiscal deficit roadmap as stipulated in the FRBM act.
Despite being politically unpopular, the Budget FY23-24 has cut down food subsidy to drop to around Rs 1.97 trillion, which is 31.28 per cent lower than the Revised Estimates (RE) of FY23, while fertilizer subsidy is projected to dip to around Rs 1.75 trillion, which is 22.25 per cent less than the Budget Estimates (BE) of FY23. In FY23, the Union Government had budgeted food subsidy at Rs 2.06 trillion while the RE showed it bulged by almost 39 per cent to Rs 2.87 trillion as the Government persisted with the free grains scheme for the first nine months of 2023. As situation caused by pandemic has eased, the step has been taken for fiscal prudence.
But to ensure that these efforts for fiscal prudence do not disturb growth of the agriculture sector, government has proposed to increase the agriculture credit for the next fiscal year to Rs 20 lakh crore, with focus on animal husbandry, dairy and fisheries, from Rs 18 lakh crore for FY22-23.
Government has pinned its hopes on generation of employment for the largest working population of world by maintaining a high growth rate through capital expenditure (capex) in infrastructure and energy sector. The Union Budget for 2023-24 has been lauded for being bold in its vision as the Finance Minister (FM) ramped up capex by 33 per cent to Rs 10 lakh crore at 3.3 per cent of GDP. This is a positive move that will support economic growth and help crowd in private investment. Even the break up of allocation to various infrastructure heads and allocation to energy sector is heartening. The budget has focused on improving physical and digital infrastructure.
It could go a long way in generating big backward linkages and forward linkages and also multiplier effects to eventually create huge employment.
Investment on infrastructure remains a major thrust of the budget. While the Ministry of Road Transport and Highways has been allocated a capital budget of Rs 2.58 lakh crore, the Railway Ministry has been given Rs 2.4 lakh crore and the Defence Ministry has been allocated Rs 1.71 lakh crore. The Department of Telecommunications, which is leading the 5G rollout in the country, has been allocated Rs 61,000 crore for capital expenditure. This would help growth in many industries which provide intermediate goods for road-rail development like iron & steel, cement, telecommunication and electric goods & equipment.
One of the most remarkable features of the budget 2023-24 is that it focuses on sustainable energy and development. India has become the first country among the developing countries and emerging markets to allocate a huge amount on green energy. The budget has allocated Rs 35,000 crore for ‘priority capital investments’. The Indian FM called for pursuing ‘green growth’ and remarked that it would remain one of the country’s top priorities for the year. Besides, it is also commendable that the budget proposed an ambitious plan for alternative energy and allocated a mammoth amount in the budget for the same.
In her budget speech, FM Nirmala Sitharaman said, “These green growth efforts help in reducing carbon intensity of the economy and provide for large-scale green job opportunities.” The Ministry of Environment, Forest and Climate Change (MoEFCC) got a budgetary allocation of Rs 3,079.40 crore this year, a slight increase from last year’s Rs 3,030 crore.
The budget continued its thrust on the National Green Hydrogen Mission announced last year and allocated an outlay of Rs 19,700 crore. The mission “will facilitate transition of the economy to low carbon intensity, reduce dependence on fossil fuel imports, and make the country assume technology and market leadership in this sunrise sector.”
To facilitate the production of electric vehicles, the budget extended on customs duty exemption to incentivise import of capital goods and machinery required for manufacture of lithium-ion cells for batteries used in electric vehicles.
In line with the ‘Lifestyle for the Environment’ (LiFE) mission announced by Prime Minister Narendra Modi in 2021 – which aims to promote sustainable lifestyles – the government will implement a ‘green credit’ programme to inspire behavioural change. “This will incentivize environmentally sustainable and responsive actions by companies, individuals and local bodies, and help mobilise additional resources for such activities.”
The Union Government showed its concern on waste management also in the budget 2023-24. To ‘promote a circular economy’, the government will set up 500 ‘waste to wealth’ plants at a cost of Rs 10,000 crore, 200 of which will be compressed biogas plants. A majority of these ‘waste to wealth’ plants – 300 – are envisioned to be in rural areas. In the budget speech, the FM also said that the government will incentivise the use of ‘alternative fertilisers’ to balance the use of chemical ones, as well as promote ‘natural farming’. India’s agriculture sector is the second largest emitter, accounting for 16 per cent of India’s emissions, after electricity.
The push for such schemes to speed up India’s sustainable development comes at a time when it is set to achieve net-zero carbon emissions by 2070. India is currently the world’s third-largest emitter and will rely heavily on ramping up renewable energy and green hydrogen fuel to decarbonise in line with its objectives.
As India is looking up to rise in the global supply chain and become a technology hub, the budget has allocated huge amounts for digital infrastructure and skilling of the young human resources in emerging technologies. The budget has allocated Rs 10,676.18 crore this year for ‘Digital India’ programme, up from Rs 6,388 crore last year. Already India is considered to be one of the leading countries in the world which has produced many digital public goods which go a long way in improving efficiency in public service and welfare delivery.
The Budget envisions a technology-driven and knowledge-based economy with strong finances. Some of the focus areas to achieve this are artificial intelligence (AI), adopting open source software, and opportunities from the 5G internet. The government plans to deploy digital solutions in all its seven priority areas – from infrastructure and last-mile delivery to the financial sector.
The skill-development initiative scheme, Pradhan Mantri Kaushal Vikas Yojana 4.0, has been extended to provide new-age courses for Industry 4.0 like coding, AI, robotics, mechatronics, IOT, 3D printing, drones, and soft skills. The budget envisaged setting up three centres of excellence in AI in top educational institutions to develop ‘cutting-edge’ applications and scalable solutions in agriculture, health and sustainable cities.
Leading industry players will also partner in interdisciplinary research aimed at building an effective AI ecosystem and nurturing quality human resources in the field. The Budget has proposed to set up 100 labs in engineering institutions to realise a new range of opportunities, business models, and employment potential in the high-speed 5G internet. The allocation to the Ministry of Electronics and Information Technology (MeitY) stood at Rs 14,300 crore as against Rs 9,581.25 crore in 2021-22 and this year’s budget would continue the same focus on it.
The Budget said digital public infrastructure would be built for agriculture as an open source, open-standard, and interoperable public good. The inclusive, farmer-centric solutions platform will be developed similar to the Unified Payments Interface (UPI). The Centre has already initiated the computerisation of 63,000 primary agricultural credit societies (PACS) with an investment of Rs 2,516 crore.
The budget harbingers ‘India miracle’ that is going to happen in the following decades when India would not only become the ‘Industrial Hub’ and the ‘Technology and Innovation Hub’ of the world, but also a $10 trillion economy by 2030 and the biggest economy of the world by 2050. If the start-up development and growth and ecosystem in India is seen, there should not be any doubt that the country is today very fertile for innovation and investment.
As of September 2022, India is home to 107 unicorns with a total valuation of $340.79 billion. According to the India Venture Capital Report 2021 published by US-based Bain and Company, the number of cumulative start-ups has grown at a CAGR of 17 per cent since 2012 and crossed Rs 1,12,000 crore. The budget has proposed several incentives for the start-ups as well.
Already India has become the 5th largest economy of the world due to right policy mix and political stability. In the days to come, India would also be the centre of many supply chains with the help of the innovative policy initiatives and firm resolve to go extra mile to realise the ‘Indian Dream’. Today it has the largest young and working population in the world and Prime Minister Narendra Modi’s effort is to educate and engage them productively. He believes that when millions of hands work together, India would actually realise the goal of inclusive growth in the shortest time.
Blinken needs to read ‘Don Quixote’ to understand the nature of his temporarily halted mission to get Xi to go against CCP’s interests and push Putin to the negotiating table, writes Prof. Madhav Das Nalapat
It took a hot air balloon to stop US Secretary of State Antony Blinken from embarking on a pilgrimage to Beijing that not just countries in Greater Asia but the Democratic Party’s own voters would have disowned. US Senators belonging to the Republican Party have signed on to a letter warning Secretary of State Antony Blinken about the lack of sufficient and substantive action by the Biden White House on a matter of the highest concern to countries in the Indo-Pacific.
This is the kid glove treatment given to the PRC led by CCP General Secretary Xi Jinping. This is despite his masterminding of aggressive actions by units of the PLA directed against India and Taiwan. In the case of India, there has thus far been silence from the Biden administration not just about how much but whether there will be additional US supply of weapons to India during the next kinetic attack by the PLA on Indian territory.
While US President Donald Trump gave a strong official response to the aggression by the PLA at Galwan in 2020, in the Yangtze fracas that took place barely months ago, all that Biden came up with was the same formulation that Xi Jinping has favoured. This is that the PRC aggression against India “should be settled bilaterally”. In other words, that India is on its own where even kinetic aggression by the PRC is concerned.
President Biden has taken credit for the way in which the cooperation in matters of defence between India and the US has been progressing since Ashton Carter was the Defence Secretary during 2015-17, in the previous administration. Since that period, even the Quadrilateral Security Alliance has been downplayed by Biden in favour of localised alliances between the US, Japan and Australia with countries not in Asia but in Europe. Not that this comes as a surprise. From the time he was in the US Senate, Joe Biden has been a committed Europeanist.
The US President shares this trait with his longtime advisor on foreign policy, Antony Blinken. Those knowing this admittedly pleasant Biden favourite say that to the Secretary, US interests must revolve in the same orbit as the interests of its European partners. Asia, South America and Africa are a much more distant priority in the White House since 2021, as is noticeable from the hypercharged way in which Ukraine is being flooded with weaponry and resources gratis at the cost of substantial chunks of voters in the US who had been promised by Biden in his 2020 Presidential campaign that they would be his primary priority.
Are any of the countries in Asia that have endured loss of sovereignty of territory to China been given the same consideration? None at all, not even countries that have faced PLA efforts at land and air encroachment this year itself, India and Taiwan.
It is not easy to keep secrets in Washington, and those in that city who track diplomatic goings on say that the primary purpose of Blinken’s humbling, hopefully not entirely visit to Xi in his court in Beijing was to persuade the CCP General Secretary to put his thumb on the scales and help get Vladimir Putin to pull out of the Russian-speaking parts of that country that have been taken over by Moscow since the 2014 change of regime from a Russophile to a Russophobe Head of State in Kiev.
Common sense would indicate that Xi has no interest in any except token and cosmetic gestures in so fundamentally altering a situation that serves the interests of the PRC and in particular the PLA so completely. Only a desperate man or someone who has no comprehension of the mind of the top tier of the CCP would have undertaken such a mission, but given his Europeanist blinkers, this is what Blinken hoped would be achieved by his visit.
Just as he did not factor in the damage to trust among democracies in Asia at least to his chaotic withdrawal from Afghanistan in August 2021, President Biden seems oblivious to the effect that such an obvious kowtow by one of his closest associates to Xi Jinping would have had on US credibility as a reliable partner against the expansionist plans and activities of CCP General Secretary Xi Jinping.
Several countries in the periphery of China have suffered the effects of such a policy by the CCP leadership, including a country that had for the longest time been organically connected to the US, the Philippines. Small wonder that behind the politeness by President Marcos to Defence Secretary Lloyd Austin, there was a polite scepticism about US reliability.
It was while Biden was a heartbeat from the White House during the Obama administration that Scarborough Shoals was forcibly taken away from Manila by Beijing, an action that showed that none of President Obama’s tough talk was backed by action where military aggression by China was concerned. At a time when the future of the Indo-Pacific as a location where hegemony by a single power is concerned hangs in the balance, all that a legislator close to Biden, Pramila Jayapal, seems to bother about is buttering up GHQ Rawalpindi by dragging out the so-called Kashmir issue.
Or in other words, get Biden to pressure India to hand over chunks of Kashmir to Pakistan and China. For it has become obvious that GHQ Rawalpindi is as much an auxiliary of the PLA as the LeT or the JeM are auxiliaries of the Pakistan military.
With the consent, sometimes direct and otherwise implicit, of his interlocutors in Beijing, Secretary Blinken would have mouthed the usual homilies about China, which would then have fired back, again in a predictable fashion. As he dusted off this time-worn routine indulged in by US Presidents who cloak their empowerment of the CCP by rhetoric, Blinken’s thoughts would ever have been Ukraine, defined by Europeanist policymakers in Washington as the determinant of the future of Europe.
It is time for those political leaders such as Senator Marco Rubio that are serious about deterring the PRC to ask why thus far, there has not been any trace of Ukraine-style generosity in giving advanced weaponry to either India or Taiwan, the two countries most at risk of a large-scale PLA attack. Or why there has not been any talk by the White House of what (or even whether) sanctions of the kind imposed on Russia would be imposed on China in the event of further PLA aggression into the sea, air and land spaces of Asian countries whose territory Xi publicly covets.
Antony Blinken needs to read “Don Quixote” by Miguel Cervantes, to understand the nature of his temporarily halted mission to get Xi Jinping to go against the CCP’s interests and push Vladimir Putin to the negotiating table to in effect sign a surrender document. On such dreams is present-day US foreign policy based.
Former Pakistan army chief and president Pervez Musharraf.(photo:@P_Musharraf/Twitter)
Musharraf’s time in power is filled with major incidents, which are criticised by many as the worst possible blunders, brunt of which is still being suffered by the country at large, report by Hamza Ameer
Former dictator, President and military ruler of Pakistan General (Retd) Pervez Musharraf breathed his last in Dubai after being critically ill for about two years.
Musharraf, 79, was in Dubai since 2006. He was suffering with amyloidosis, a rare disease caused by an abnormal development of protein called amyloid in organs and tissues of the whole body. The increasing development of amyloid tissues made it difficult for the organs and tissues to work properly, which became the reason for Musharraf’s extended illness and death.
Musharraf’s illness was revealed in 2018 when his political party All Pakistan Muslim League (APML) said that he was suffering from the rare disease.
Musharraf’s death is being condoled by political and military quarters as despite his departure from Pakistan and re-settlement in Dubai, he enjoyed close support from the military leadership of Pakistan.
“May Allah bless the departed soul and give strength to bereaved family,” said a statement issued by the Inter-Services Public Relations (ISPR) on behalf of Chairman Joint Chiefs of Staff Committee (CJCSC) and Services Chiefs in their heartfelt condolences.
Musharraf’s time in power as military chief, a military dictator and later a politician is filled with major incidents, which are criticised by many as the worst possible blunders, brunt of which is still being suffered by the country at large.
Former Pakistan military ruler General (retd) Pervez Musharraf.(photo:Twitter/@P_Musharraf)
Musharraf’s time of dictatorship is criticised for not only attracting political embarrassment for Pakistan due to the Kargil operation; but also the Lal Mosque operation which became the trigger point for a reactionary offensive by terrorists on Pakistan after Musharraf made the country an ally to the US-led war on terror.
Musharraf had several cases against him being heard in the Pakistani courts including that of treason, after he imposed a martial law by ousting the then sitting premier Nawaz Sharif in 1999. This happened after Nawaz Sharif tried to dismiss Musharraf as the army chief, having appointed him above more senior officers just the year before.
Musharraf was declared as an absconder as he refused to appear before the Pakistani courts in various cases against him. Musharraf was also someone who used to showcase the Kargil operation as a feather in his cap whenever he would be addressing the India-Pakistan relations.
Musharraf was also among those who had given a four-point solution to the India-Pakistan dispute on Kashmir, which analysts say was on the verge of being finalised. But because Musharraf’s government ended, that major understanding did not materialise.
Musharraf had always remained on the target hit list of terrorists as he narrowly escaped at least three assassination attempts on his life by terrorists. His tenure from 2001 to 2008 was ruled under the backdrop of 9/11 terror attacks on the US, which led to the initiation of military operation by the US against terrorists in Afghanistan.
As per details, Musharraf’s body will be brought back to Pakistan on Monday. A special chartered plane will leave from the Nur Khan airbase in Rawalpindi for Dubai and will bring the body of Musharraf back to Pakistan.
Former Pakistan military ruler General (retd) Pervez Musharraf.(photo:Twitter/@P_Musharraf)
The era of misadventures
Musharraf’s tenure in power can he highlighted in many misadventures:
1999 Military Coup: On October 12, 1999, troops of Pakistan army took over the Prime Minster house in Islamabad after Nawaz Sharif prevented Musharraf’s plane from landing at Karachi airport upon his arrival back from Sri Lanka. Musharraf got aware of the situation and declared a state of emergency in the country, suspending the Constitution assuming the role as the chief executive. It was seen as a bloodless coup as no organised protests were witnessed against the coup. Musharraf later became the President of Pakistan, retaining his position as the army chief as well.
The 9/11 impact and Pakistan’s allegiance: After the US announced an all out war against terrorists, announcing its military offensive in Afghanistan against Al-Qaeda and the Taliban; Musharraf agreed to become an ally to Washington in the war, which may be widely criticised but was openly defended by Musharraf on various occasions. Pakistan has started to get financial assistance from the US in the form of a Coalition Support Fund (CSF) to be used to fight against terror groups and elements on Pakistan soil and along the Pak-Afghan border. Along with it, Pakistan also started getting a considerable amount in the form of foreign exchange from the US, which also supported Musharraf’s regime to initiate various development-level initiatives.
However, the financial assistance of CSF from the US came with a set of demands to Pakistan, which included an operation at the Lal mosque, facilitation to NATO forces to fly their drones and planes from Pakistani airbases, permission to carry out drone strikes by using Pakistani airspace and targeting suspected terror installations inside Pakistan and to carry out military offensives anywhere and everywhere the US demanded on Pakistani soil.
The Lal Mosque operation, which many believe became the boiling point of a major surge in terrorist offensive, suicide bombings and attacks on Pakistani security forces and the local at large, was one of the biggest misadventure undertaken by Musharraf on the directions of the US.
Moreover, the Dera Bugti operation is also widely criticised by all of being forced into action despite offers for peace talks by the Bugti tribe leaders. Again, it was stated that the operation was done on the directives of the US.
Musharraf’s power stunt by penetrating and occupying high position in Kargil are also something that he claimed to be his success story, but was widely consumed as another misadventure, that later brought political embarrassment to the country.
It was also reported that Musharraf, after the Kargil operation retreat, was pressurised by the US to not only call back his troops but also to take a step forward and extend a peace and friendship message towards India. It was because of the same pressure that Musharraf did that famous handshake with the then Indian Prime Minister Atal Bihari Vajpayee during the SAARC conference in Sri Lanka.
The Musharraf legacy will certainly be written in bitter and sweet memory and as someone, who was strong-headed enough to commit misadventures of such grave intensity that they could trigger a nuclear war between India and Pakistan.
Prime Minister Prachanda’s visit to India, which is still being worked out at the diplomatic level, is expected to give momentum to bilateral power sector cooperation, writes Santosh Ghimire
Indian and Nepali officials are set to meet later this month to push energy partnership, which is likely to continue despite the election of a new government in Nepal.
The 10th meetings of the Joint Steering Committee (JSC) at the secretary level and Joint Working Group (JWG) at the joint secretary level on Feb.17-18 will focus on expediting ongoing projects on hydropower, officials said.
“Power sector cooperation has been a strong pillar of Nepal-India partnership. The upcoming meeting will focus on joint development of generation projects in Nepal, joint development of cross-border power transmission infrastructure, power trade under respective domestic regulations and policy framework, and capacity building assistance,” Madhu Bhetuwal, a spokesperson for Nepal’s Ministry of Energy, told India Narrative.
The meetings in New Delhi are taking place after Nepal and India recently constituted a Joint Hydro Development Committee (JHDC) to further explore the development of viable hydropower projects in Nepal with particular focus on storage projects. The JHDC has five members on each side.
In August last year, the Investment Board of Nepal signed a Memorandum of Understanding (MoU) with India’s National Hydroelectric Power Corporation (NHPC) Limited to develop the West Seti and Seti River (SR6) projects. This was earlier being developed by China.
During the meeting, Nepal is expected to propose construction of two new Nepal-India cross-border transmission lines, officials familiar with the matter said.
The first is a 400kV transmission line connecting Nepal’s Duhabi city with Purnia of the Indian State of Bihar. The second one is a 400kV transmission line connecting Nepal’s New Lamki (Dodhara) with India’s Bareli.
Nepal is rich in water resources with a combined potential to generate more than 42,000 hydroelectric power, according to various studies.
There are several other India-aided projects including the 900 MW Arun-3 hydroelectric project which are under construction.
Providing a long-term vision on energy cooperation, “India-Nepal Joint Vision Statement on Power Sector Cooperation” was issued during former Prime Minister Sher Bahadur Deuba’s official visit to India in April 2022.
During his visit, Deuba invited Indian companies to invest in the development, construction and operation of viable renewable power projects, including in the Hydropower sector in Nepal, focusing on storage-type projects.
The new government led by Prime Minister Pushpa Kamal Dahal aka Prachanda which came to power in December last year, is also keen to intensify power sector cooperation with India in a similar fashion, sources said.
“Irrespective of change of guard in Kathmandu, ongoing power sector cooperation between Nepal and India will go smoothly,” said sources.
Prime Minister Prachanda’s visit to India, which is still being worked out at the diplomatic level, is expected to give momentum to bilateral power sector cooperation.
Power trade on agenda
During the upcoming meetings of JST and JWG, Nepali and Indian officials will discuss various issues that have arisen in the hydropower projects including Arun II that are currently being built by the Indian companies.
The issue of ongoing power trade between the two countries will also be figured during the meeting, the spokesperson said. Nepal generated a good income last year by selling its surplus electricity to India, contributing to reducing the Himalayan country’s ballooning trade deficit.
As per the figures provided by Nepal Electricity Authority, Nepal sold electricity worth 11.16 billion (Nepali rupees) to India starting June last year. NEA has a plan to sell electricity worth 16 billion (Nepali rupees) in the current fiscal year 2022/23 after resuming export in June next year.
