India becomes 5th largest economy, overtakes UK, France: Report

News Network
February 18, 2020

New Delhi, Feb 18: India emerged as the world's fifth-largest economy by overtaking the UK and France in 2019, says a report.

A US-based think tank World Population Review in its report said that India is developing into an open-market economy from its previous autarkic policies.

"India's economy is the fifth-largest in the world with a GDP of $2.94 trillion, overtaking the UK and France in 2019 to take the fifth spot," it said.

The size of the UK economy is $2.83 trillion and that of France is $2.71 trillion.

The report further said that in purchasing power parity (PPP) terms, India's GDP (PPP) is $10.51 trillion, exceeding that of Japan and Germany. Due to India's high population, India's GDP per capita is $2,170 (for comparison, the US is $62,794).

India's real GDP growth, however, it said is expected to weaken for the third straight year from 7.5 per cent to 5 per cent.

The report observed that India's economic liberalisation began in the early 1990s and included industrial deregulation, reduced control on foreign trade and investment, and privatisation of state-owned enterprises.

"These measures have helped India accelerate economic growth," it said.

India's service sector is the fast-growing sector in the world accounting for 60 per cent of the economy and 28 per of employment, the report said, adding that manufacturing and agriculture are two other significant sectors of the economy.

The US-based World Population Review is an independent organisation without any political affiliations.

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News Network
April 26,2024

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The US military has started the construction of a controversial maritime pier off the coast of Gaza, claiming that it seeks to bring aid into the besieged strip.

"I can confirm that US military vessels, to include the USNS Benavidez, have begun to construct the initial stages of the temporary pier and causeway at sea," Pentagon spokesperson Major General Patrick Ryder told reporters on Thursday.

US President Joe Biden ordered the construction of the pier in March. Shortly afterwards, the US deployed naval ships to the Eastern Mediterranean to construct the "floating pier" that will reportedly receive aid from Cyprus, and send it onward to Gaza.

The US announcement came amid mounting pressure on Israel to allow aid into Gaza as the UN and other aid agencies have warned of imminent famine due to Israel's prevention of the land-based delivery of life-saving aid to Gaza.

The deputy UN food chief said on Thursday the northern Gaza Strip is still heading toward a famine.

World Food Program (WFP) Deputy Executive Director Carl Skau called for a greater volume of aid to be allowed into Gaza and appealed for Israel to allow direct access from the southern Ashdod port to the Erez crossing.

The pier is scheduled to become operational in May.

Reuters quoted a senior Biden administration official, who asked not to be named, as saying that aid coming off the corridor will still need to pass through Israeli checkpoints on land, raising questions about possible delays even after aid reaches shore.

That is despite the aid having already been inspected by Israel in Cyprus prior to being shipped to the besieged strip.

According to the official, nearly 1,000 US troops would support the military effort, including in coordination cells in Cyprus and Israel.

The Israeli military said its troops would protect the US troops who are setting up the pier and provide logistics support for it.

Last month, experts said Israel backed the US plan to construct the pier in order to retain control over the aid deliveries and as a way to displace Palestinians from the besieged strip via the Mediterranean Sea, ahead of an expected invasion of the southern town of Rafah, where nearly more than half of Gaza's population of 2.4 have sought shelter from Israeli strikes elsewhere in Gaza.

Israel launched the war on Gaza on October 7 after the Palestinian resistance movement Hamas waged the surprise Operation Al-Aqsa Storm against the occupying entity in response to the Israeli regime's decades-long campaign of bloodletting and devastation against Palestinians.

Tel Aviv has also blocked water, food, and electricity to Gaza, plunging the coastal strip into a humanitarian crisis.

Since the start of the offensive, the Tel Aviv regime has killed at least 34,305 Palestinians and injured 77,293 others.

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News Network
April 29,2024

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Mysuru, Apr 29: Veteran politician and incumbent Chamarajanagar MP V Srinivas Prasad breathed his last at 76.The stalwart BJP leader, who had been battling health issues, succumbed to a severe heart attack, leaving behind a void in Karnataka's political arena.

A Dalit leader in the Old Mysuru region, Prasad was in Congress but joined the Bharatiya Janata Party before the 2018 Karnataka Assembly elections following a fallout with Chief Minister Siddaramaiah. The two had recently met in Mysuru and discussed the political scenario in the state.

Prasad extended support to the Congress in the Lok Sabha election 2024 and this is being seen as a crucial factor in the SC-reserved Chamarajanagar constituency, which Prasad represented in Parliament. On April 2, Prasad’s relatives and supporters joined Congress.

He served as a Union minister from 1999 to 2004 as the Loka Jana Shakthi MP. In the Karnataka Assembly elections, he was elected twice as an MLA and served as the state’s revenue minister.

Prasad, known for his distinguished political career spanning over five decades, was admitted to Manipal Hospital in Bengaluru due to urinary tract-related complications and age-related ailments.

However, his condition deteriorated rapidly, leading to his untimely demise in the wee hours of Monday.

Born on August 6, 1947, in Ashokapuram, Mysuru, Prasad's political journey was marked by significant milestones. He represented Chamarajanagar constituency as MP for an unprecedented seven terms and had derved as MLA from Nanjangud constituency twice.

He had held key ministerial portfolios including Minister for Food and Civil Supplies in the Atal Bihari Vajpayee government and Minister for Revenue and Muzrai in the Siddaramaiah-led Karnataka government.

He had joined the BJP officially in December 2016 and was elected as MP from Chamarajanagar again in 2019, showcasing his enduring popularity among constituents.

Prasad's demise has plunged the political fraternity and his supporters into mourning. His family members, political associates, and well-wishers are gathering to pay their final respects as his mortal remains are being transported from Manipal Hospital to his residence in Jayalakshmipuram, Mysuru.

The Exhibition Grounds in Mysuru will witness a stream of mourners as Prasad's mortal remains will be kept for public viewing, allowing people from all walks of life to bid farewell to their beloved leader.

Prasad's name had come up in the 'Tehelka tapes' controversy, after the sting operation by magazine Tehelka to expose defence deals under the Atal Bihari Vajpayee-led NDA government. The tapes showed Samata Party leader Jaya Jaitley allegedly telling an arms dealer to deposit money with Prasad, who was then in Bengaluru. However, Prasad denied these claims, saying he was in Mysuru at the time, and also sued Tehelka for defamation.

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News Network
April 23,2024

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The genocidal Israeli war on the Gaza Strip has entered its 200th day, with occupation forces killing more Palestinians in defiance of widespread international outcry to end the carnage.

The aggression marked its 200th day on Tuesday with no end in sight to the Israeli war that has so far killed a shocking number of Palestinians and led to a humanitarian crisis in the besieged territory.

The Gaza Health Ministry said Israeli forces have committed three "massacres" over the past 24 hours, killing at least 32 Palestinians and wounding 59 others.

The numbers, it added, bring the Palestinian death toll to more than 34,183, with at least 77,143 injured and an estimated 7,000 missing and presumed dead since early October.

More than 14,500 children and 9,500 women are among those killed, making up over 70 percent of the victims, according to health officials.

Israel waged its brutal US-backed war on the Gaza Strip on October 7 after the Palestinian Hamas resistance group carried out Operation Al-Aqsa Storm against the usurping entity in retaliation for its intensified atrocities against the Palestinian people.

Israel has been carrying out war crimes in Gaza by deliberately starving people and forcing their evacuation, as well as targeting hospitals and schools sheltering displaced Palestinians.

Despite all these atrocities, the regime has failed to achieve its declared objectives of “destroying Hamas” and finding Israeli captives held in Gaza.

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