The forex reserves of India are comfortably placed at USD 461.2 billion, says the Economic Survey 2019-20, presented by Finance and Corporate Affairs Minister Nirmala Sitharaman.
After China, India is ranked as the second largest emerging Green Bond Market by Economic Survey. India also joined IPSF( International Platform on Sustainable Finance ) in 2019 to measure environmentally sustainable investments.
National Bank for Agriculture and Rural Development on Monday projected an overall credit potential for Odisha under priority sector at Rs 90,395 crore for 2020-21. The credit potential of the state was estimated in the State Focus Paper for Odisha, released in the credit seminar for 2020-21.
Ot of the total credit potential for priority sector, an amount of Rs 43,282.11 crore has been assessed under agriculture, Rs 40,227.79 crore is estimated under farm credit which comprises both crop and term loans for agriculture and allied activities. Other sectors consisting of export credit, education, housing, renewable energy and social infrastructure have 18.43 per cent share in the total credit potential under priority sector.
Indian Railways is expected to switch entirely to electricity by 2024, as stated Railways Minister Piyush Goyal. It will be the first railway network in the world to be run fully on electricity. India is also planning to make the entire railway network a ‘net-zero emission network‘ by 2030, it will run on clean energy and clean power.
Taranjit Singh Sandhu takes charge as the new Indian Ambassador to the United States. He will succeed Ambassador Harsh Vardhan Shringla. Sandhu is the current High Commissioner of India to Sri Lanka since January 24, 2017. Sandhu’s appointment is also crucial as India is facing criticism from the US Congress over Citizenship Amendment Act (CAA) and Kashmir policy following abrogation of Article 370.
Sandhu, a 1988-batch IFS officer, has served twice before at the Indian mission in the US. He was Deputy Chief of Mission at the Indian embassy in Washington between July 2013 and January 2017. Sandhu also held the position of First Secretary at Embassy of India, Washington responsible for liaison with the US Congress from 1997-2000. Between July 2005 and February 2009, Sandhu was posted at India’s Permanent Mission to the UN in New York.
The government on Monday announced sale of 100 per cent stake in debt-laden Air India as it issued the preliminary bid document for the strategic disinvestment with the deadline for submitting expression of interest set as March 17.
As part of the strategic disinvestment, Air India would also sell 100 per cent stake in low-cost airline Air India Express and 50 per cent shareholding in joint venture AISATS. AISATS is an equal joint venture between Air India and Singapore Airlines. It offers ground handling services.
Management control of the airline would also be transferred to the successful bidder. This is the second time in less than two years that the government has come out with proposal for selling stake in Air India, which has been in the red for long.
International Customs Day (ICD) is observed on 26 January every year. The day recognizes the role of custom officials and agencies in maintaining border security. The day marks the anniversary of the formation of the Customs Co-operation Council. The Theme of 2020 is “Customs fostering Sustainability for People, Prosperity and the Planet”.
The day was instituted by the World Customs Organization (WCO) in 1953 during the session of the Customs Cooperation Council which was held in Brussels, Belgium. WCO was earlier called as Customs Cooperation Council. It was renamed as World Customs Organization in 1994. WCO has 179 member countries.
The day focuses on the working conditions and challenges that customs officers face in their jobs. The customs agencies hold employee appreciation events. The agencies recognize the custom officers for their exemplary service. Several agencies hold public outreach events to educate the public about their jobs and responsibilities.
Bharat Parv 2020, a festival to celebrate the spirit of India has begun at Red Fort ground in New Delhi. It will continue till 31st of this month. The theme of this year’s Bharat Parv is ‘Ek Bharat Shreshtha Bharat‘ and Celebrating 150 Years of Mahatma Gandhi.
The objective of Bharat Parv is to encourage people to visit different tourism places of the country and to inculcate the spirit of ‘Dekho Apna Desh’. Bharat Parv has many attractions for public including display of Tableaux of the Republic Day parade, performance by armed forces bands and cultural Performances from different regions of the country.
More than 50 food stalls, 79 handicrafts stalls and 27 theme pavilions have been setup. The festival will remain open for public from 12 Noon to 10 PM till 31st of this month. The entry to the event for the public is free, however, they have to carry identity card for the entry.
India on 26th January celebrated its 71st Republic Day, honouring the historic date when the country completed its transition towards becoming an independent republic after its Constitution came into effect. Many states joined the nation to celebrate the Republic Day on Sunday morning.
The day was celebrated with great fervour all across the country. In Delhi, the parade for the Republic Day began at Rajpath with President Ram Nath Kovind unfurling the national flag and receiving a 21-gun salute. The chief guest for this year’s republic day parade was Brazilian president, Jair Messias Bolsonaro.
Foreign portfolio investors have infused a net sum of Rs 1,624 crore into the domestic capital markets in January so far. As per latest depositories data, Foreign portfolio investors put-in a net of 13,304 crore rupees, in equities and withdrew a net 11,680 crore rupees from the debt segment between January 1 and 24. This translates into a total net inflow of 1,624 crore.
The latest investments came despite challenges such as enhanced geopolitical tension between the US and Iran and dwindling domestic economic growth. On the domestic front there are some signs of India shaking away the slowdown with business activity picking up and this is reflecting in the investments coming into equities. Besides, after the limit to which FPIs can invest in debt instruments has been increased, more inflows into the debt category can be expected.