Tag: Narendra Modi

Room for post-Brexit improvement on UK visa issue

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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India sees clear room for improvement on UK visas for its citizens and access for its financial firms as part of new post-Brexit trade deal,  Foreign Secretary Vijay Keshav Gokhale said on Wednesday.

Gokale said the visa issue was discussed during a meeting between Prime Minister Narendra Modi and his counterpart Theresa May in the context of a broader free trade agreement after Brexit.

“It is quite obvious there is scope for improvement,” he said on the aim to allow Indian professionals and students to move freely into the UK.

He added there was also a push from India to get more access to the UK for its services firms.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Live: Prime Minister Narendra Modi addresses the Indian diaspora

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

India, Sweden to strengthen defence and security coop

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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India and Sweden on Tuesday decided to strengthen their defence and security cooperation, and agreed on an innovation partnership for a ‘win-win’ outcome as Prime Minister Narendra Modi held talks with his Swedish counterpart.

In a joint press statement after his talks with Swedish Prime Minister Stefan Lofven, Modi said they focused on how Sweden can help India in its development journey.

The two sides have agreed an innovation partnership and a Joint Action Plan, the Prime Minister said.

Modi said India and Sweden have agreed to strengthen their defence and security cooperation, including in areas of defence production and cyber security.

On his part, Swedish Prime Minister lauded India “global power” and said the two countries are a “perfect match”.

There has been an intensification of cooperation in areas such as green technology and smart cities.

Lofven said India and Sweden have agreed to work on a security agreement.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Why the monsoon is so crucial for India

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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India’s monsoon rains are likely to be 97% of their long-term average in 2018, India Meteorological Department’s (IMD)  said on Monday, reassuring farmers ahead of summer planting in a country where only half of the farmland is irrigated.

What are the categories of monsoon?

A normal, or average, monsoon means rainfall between 96% and 104% of a 50-year average of 89 cm (35 inches) in total during the four-month monsoon season from June, according to the IMD’s classification.

Rainfall below 90% of the average would be classified as a drought. During Prime Minister Narendra Modi’s first two years in office, in 2014 and 2015, there were consecutive droughts that led to some criticism

Rainfall above 110% of the average would mean an excessive monsoon, which would not be as damaging as a drought but could be potentially harmful for the yields of certain crops. The monsoon season starts with rains on the  Kerala coast around June 1, covering the whole country by the middle of July.

Why is the monsoon important?

The monsoon delivers about 70% of India’s annual rainfall and determines the yield of key crops such as rice, wheat, sugarcane and oilseeds such as soybeans. The farm sector accounts for about 15% of country’s $2 trillion economy, but employs more than half of its 1.3 billion people.

If monsoon rains lift farm output, it can boost demand for consumer goods as it raises incomes of rural people.

A stronger economic outlook would lift equities, mainly for companies selling products in rural areas, including consumer goods, automobiles, fertilisers and pesticides.

India is self-sufficient in crops such as rice and wheat, but a drought would require the country to import foodstuffs. In 2009, India imported sugar after poor rains, sending global prices to record highs and pushing up local inflation.

Monsoon rains replenish reservoirs and groundwater, allowing better irrigation and more hydropower output. Higher rainfall can trim demand for subsidised diesel, which is used to pump water from wells for irrigation.

How does the monsoon affect inflation and RBI policy?

Food accounts for 50% of India’s consumer price index, which the central bank closely monitors while deciding on monetary policy. A bumper farm output would keep food prices under control.

During past droughts, the government supported farmers by giving out incentives, straining the fiscal deficit. A good monsoon will limit government spending on such measures.

How reliable is the monsoon forecast?

The IMD issues its first forecast typically more than a month ahead of the monsoon’s onset.

On average, its forecast has been accurate only once every five years over the past two decades, even after taking into account an error band of plus or minus 5 percentage points.

The IMD’s forecast for the 2017 monsoon was its most accurate since 2008. Last year, there was a difference of only 1 percentage point between the forecast and the actual rainfall. Even during normal monsoon years, some parts of India face drought, while some others suffer from floods.

The IMD will come out with a second forecast for the 2018 monsoon rains in June.

Why is the monsoon important for Modi ahead of the 2019 elections?

Modi, who has promised to double farmers’ income over five years, remains popular nearly four years into his term. Farmer unrest, however, has flared in some states ruled by his party, catching regional leaders flat-footed.

A normal monsoon could lead to higher output of summer-sown crops, helping state leaders placate farmers.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

PM asks Finance Commission to reward states that worked to control population

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Prime Minister Narendra Modi on Thursday asked the 15th Finance Commission to incentivise the states that have worked to control population after south Indian states strongly opposed the terms set by the constitutional body to divvy up revenues.

The Union Government has suggested to the Finance Commission to consider incentivizing States who have worked on population control. Thus, a state like Tamil Nadu, which has devoted a lot of effort, energy and resources towards population control would certainly benefit: PM

— PMO India (@PMOIndia) April 12, 2018

The Prime Minister’s statement comes as states such as Karnataka, Kerala and Andhra Pradesh, among others, have accused the central government of being partial towards states from the north. The chief ministers and political parties of these states said the southern states that have diligently followed population control and development policies and are therefore in a better position than the rest of the country receive lower revenue share compared with northern states.

The bone of contention for the southern states is  the terms of reference that the 15th Finance Commission has set. According to these terms, the 2011 Census – and not the 1971 Census as has been the norm – has been set as the base year to determine how revenue is divided.

Southern states fear that the new base year will harm their interests.

The BJP, which leads an alliance to run the central government,  has been elected to power in several north Indian states.

On Thursday, Modi denied that his government was biased against the southern states, and said these were baseless allegations.

Earlier, Karnataka chief minister K Siddaramaiah opposed the terms of reference of the Finance Commission and asked the southern states to oppose it. “This will further affect the interests of the south, we need to resist,” Siddaramaiah tweeted.

He also asked chief ministers of Kerala, Tamil Nadu, Andhra Pradesh, Telangana, Maharashtra and Puducherry to resist the move by the commission.

On Tuesday, finance ministers and officials from Andhra Pradesh, Kerala and Karnataka and Puducherry met in Thiruvananthapuram to strongly oppose the terms of reference. Andhra Pradesh finance minister Y Ramakrishnudu had said the Centre arbitrarily decided the terms of reference for the new policy, without consulting state governments.

Kerala chief minister Pinarayi Vijayan said it’s time states stood together to demand recasting the terms of reference, as it was necessary to save the federal structure of the Indian Union.

On Wednesday, Kerala finance minster Thomas Isaac told NDTV the South will lose Rs 80,000 crore under the new Finance Commission.

Karnataka agriculture minister Krishna Byre Gowda said all states that performed their duty of bringing down the population in their respective jurisdictions were set to lose out because the plan is to shift the base from 1971 to 2011 Census.

With elections in Karnataka fast approaching and a storm of protests raging in other states, only higher revenues to southern states could defuse the tension.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Will establish defence corridors in Tamil Nadu and UP, says Narendra Modi

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Prime Minister Narendra Modi said that the government will establish two defence corridors in the country that will become the engines of economic development and growth of India’s defense industrial base.

While inaugurating the Defence Expo in Thiruvidanthai, the Prime Minister said that these industrial corridors built in Tamil Nadu and Uttar Pradesh will utilize and enhance the existing defence manufacturing ecosystem that is existing in the region.

“It is wonderful to see that over 500 Indian companies & over 150 foreign companies are here. More than 40 countries have sent their official delegations as well,” said Modi.

Modi also reaffirmed his government’s commitment towards maintaining peace and protecting the people and territory of the country. He further revealed his willingness to equip the armed forces through various means including setting up of a strategically independent defence industrial complex.

Defence Innovation Hubs

He said that the government has launched ‘Innovation for Defence Excellence’ scheme aimed at establishing ‘Defence Innovation Hubs’ across the country to provide support to start-ups in the defence sector.

Speaking about the roadblocks faced earlier in the sector, Modi said that while the total number of defence export permission granted till May 2014 stood at 118 worth $ 577 million, 794 export permissions worth $ 1.3 billion was issued in the last four years.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Modi to open International Energy Forum ministerial in Delhi

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Signalling India’s growing global importance as an energy consumer, the 16th International Energy Forum (IEF) ministerial will be inaugurated here on Wednesday by Prime Minister Narendra Modi, according to an official announcement.

The meeting of ministers of the 72-member IEF “is the largest gathering of energy ministers from across the globe, industry leaders and heads of key international organizations who will debate the future of global energy”, a Petroleum Ministry release said here.

“Hosted by India and co-hosted by China and Korea, IEF16 aims to focus on how global shifts, transition policies and new technologies influence market stability and future investment in the energy sector,” it said.

Among ministers from overseas attending the meeting this year are those of Saudi Arabia, the UAE, Iran, Qatar, Nigeria, Japan, China, Russia and the US, the ministry said.

“Apart from them, IEF Executive Director Sun Xiansheng, IEA (International Energy Agency) Executive Director Fatih Birol, OPEC (Organisation of Petroleum Exporting Countries) Secretary General Mohammad Sanusi Barkindo and heads and senior officials from international organizations like CNPC, Total, VOPAK, Exxon Mobil, among others, will also attend the event,” it said.

“The IEF is unique in that it comprises not only consuming and producing countries of the IEA and OPEC, but also transit states and major players outside of their memberships, including Argentina, China, India, Mexico, Russia and South Africa,” it added.

The statement said delegates to the ministerial have been invited “to consider how global market shifts and energy transition will shape the future of energy security”.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

India, Nepal decide to boost cooperation, speed up connectivity projects

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Prime Minister Narendra Modi and his Nepalese counterpart K P Sharma Oli today held extensive deliberations covering entire expanse of bilateral relationship and vowed to boost ties in key areas of defence and security, connectivity and trade.

The Nepalese Prime Minister along with Modi inaugurated the India – Nepal petroleum products pipeline from Delhi today.

“There is a long history of India’s contribution towards Nepal’s development, I have assured PM Oli that this will continue in future,” Modi said in a joint statement with Nepal PM.

Also read: In India ‘with a mission’ to better bilateral ties, says Nepal PM

After the talks, Modi said India will continue to support Nepal as per that country’s priorities, adding both sides have agreed to expedite all connectivity projects.

The prime minister said cooperation between the two countries will enhance Nepal’s democracy.

Modi also said the two countries agreed on laying a new railway line to link Kathmandu with India.

India and Nepal have close ties in defence and security and will work together to stop misuse of their open border, he said.

On his part, Oli said, he has come to India to take the bilateral ties between the two countries to newer heights commensurate with the realities of the 21st century.

“We want to erect a strong edifice of trust-based relationship between the two close neighbours that we are,” he said.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

In India ‘with a mission’ to better bilateral ties, says Nepal PM

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Nepalese Prime Minister K P Sharma Oli on Saturday said he has come to India “with a mission” to take bilateral ties to newer heights “commensurate with the realities of the 21st Century”.

In a joint address with Prime Minister Narendra Modi, he said his country always accorded “great importance” to its ties with India as the two neighbours have many “things to offer each other”.

“Inter-dependence takes many forms between our countries. Relations between neighbours are different than others. They rest on principles of equality and justice.

“I have come to India with a mission to enhance our relations to newer heights commensurate with the realities of the 21st Century. We want to create a model relationship. A relationship that is cherished forever,” Oli said.

He asserted that the future of the ties between India and Nepal lied “in the expansion of the economic facility and improving investments”.

“Agriculture is one of the areas where India has made significant progress and Nepal could learn from it. The (other) key areas of development are connectivity, railways and agriculture,” he said after delegation-level talks between the two sides.

Also read: India, Nepal decide to boost cooperation, speed up connectivity projects

He said his country had completed “a very crucial transition phase after three tiers of elections (and) during this transitional juncture, we need support and cooperation of our friends”.

Oli renewed his invitation to Modi to pay a visit to Nepal at the earliest.

Oli is on a three-day visit to India — his first foreign trip after taking charge as Nepal Prime Minister for the second time in February. The visit keeps up with the tradition of India-Nepal ties under which the prime minister always makes the first visit to India.

However, the trip comes amid a hitch in bilateral ties after Oli had to step down as Nepal Prime Minister in 2016 following a blockade on the India-Nepal border. Many in the Himalayan nation blame India for the blockade that crippled the economy of the landlocked country.

The ties were further strained after Nepal decided to join China’s One Belt One Road amid India’s concerns that the Chinese initiative would harm its strategic and economic interests. Nepal has also signed a host of trade and transit pacts with China.

Oli is also scheduled to visit the G.B. Pant University of Agriculture and Technology and the Breeder Seed Production Centre and an integrated farming project in Uttarakhand.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow