Moody's India upgrade: Will continue reforms, says FM

Agencies
November 17, 2017

New Delhi, Nov 17: Finance Minister Arun Jaitley today termed the upgrade of India's credit rating by Moody's after a gap of 13 years as a "belated recognition" of reforms in the last few years and vowed to continue them while maintaining fiscal discipline.

Commenting on Moody's upgrading India to Baa2, from Baa3, he said it is a recognition that India continues to follow the path of fiscal prudence which has brought stability to the economy.

"It is an upgrade which has happened after 13 years. We welcome it and believe that it is a belated recognition of all the positive steps taken in India in the last few years which have contributed to the strengthening of the Indian economy," he told reporters here.

The upgrade is a recognition of the reform process in India, particularly in the last 3-4 years, in which structural reforms placed India on a high growth trajectory, he said.

Listing the series of reforms which led to the upgrade, he said while demonetisation took the economy towards greater formalisation and digitisation, use of Aadhaar ensured targeted delivery of government benefits.

Also, a new insolvency and bankruptcy code has been enacted, massive bank recapitalisation programme formulated and a smooth transition to GST has happened, he said

The GST itself has been universally regarded as landmark reform in the tax structure, he added.

Stating that all these steps constitute major reforms and are directional, he said the rating upgrade, therefore, is "extremely encouraging".

Jaitley said: "It is extremely encouraging that there is an international recognition and the fact that this recognition merely furthers our determination to follow the track we have embarked upon."

He said the upgrade has not happened in isolation and for the last three years, the India has been the fastest-growing major economy.

"And after a long spell of 13 years, India gets the rating upgrade. I am sure that many who had doubts would now seriously introspect on their own positions," he said in a jibe at critics of his government's reforms programme.

The government, he said, will maintain the fiscal discipline and continue to remain in fiscal glide path.

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News Network
March 8,2024

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Amidst war, violence, chaos and new hopes, Muslims across the world are gearing up to welcome the fasting month of Ramadan. The pious month is likely to start on 11 or 12 March and is likely to end on 9 April.

During this month, Muslims fast from pre-dawn to sunset. The two main meals of the fasting period are Iftar, which is eaten after sundown, and Suhoor, which is eaten before dawn. Apart from fasting, donations and giving food to the needy are hallmarks of the month.

Every year, World Health Organisation states guidelines that we must abide by to maintain good health during the month of Ramadan:

WHO guidelines:

Balanced diet: it is advised to consume a balanced diet and avoid having too fried or oily food before or after breaking the fast. We should ensure that we consume a nutritious diet that can nourish the body. Having adequate amount of water post fasting is also mandatory.

Limit salt intake: We should be mindful of the salt intake we are doing with our food. We can instead add flavours to the food with various herbs. The goodness of natural herbs can further nourish the body.

Exercising: It is important to keep exercising throughout Ramadan – this will enable digestion and movement will keep the body fit and healthy.

Tobacco and vaping: We should refrain from tobacco consumption and vaping to keep ourselves healthy.

Baking or steaming: Consuming too much fried food can harm the health. Instead, we can choose other ways of cooking such as steaming and baking the food. This will retain the nutrition as well as make the diet healthy for consumption before or after fasting.

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News Network
March 7,2024

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Mohammed Asfan, a 30-year-old from Hyderabad, was killed months after he was duped into joining Russia's war against Ukraine, the Indian Embassy in Moscow said on Wednesday. 

Ministry of External Affairs has said around 20 Indian nationals are working as support staff to the Russian army. Asfan's family had said that he along with two other men reached Russia in November last year after they were promised jobs as helpers in Russian government offices.

Asfan last spoke with his family on December 31 last year, just weeks before they were informed of his death. 

"We have learnt about the tragic death of an Indian national Shri Mohammed Asfan. We are in touch with the family and Russian authorities. Mission will make efforts to send his mortal remains to India," the embassy said in a post on X.

How he was duped

•    Asfan worked in a cloth showroom in Hyderabad.
 
•    According to his family, Asfan was cheated by a Dubai-based agent who runs a YouTube channel called 'Baba Vlogs' and talked about helping people get work permits for the country in his videos.
 
•    The agent promised several men high-paying jobs as security guards in Russia and had taken ₹ 3 lakh each from them, the family said.
 
•    After reaching Moscow, Asfan and others were made to sign a Russian document. They realised later that they were recruited as "helpers" in the Russian army, Asfan's brother Imran said.
 
•    Imran said one of the agents who duped Asfan into going to Russia contacted him recently to tell him that Asfan's contract was cancelled. He also claimed that Asfan was injured but not dead, Imran said.
 
•    Asfan's family were first informed about his death by AIMIM chief Asaduddin Owaisi, who had written to External Affairs Minister S Jaishankar about men from different Indian states being cheated into taking part in the war on the pretext of high-paying jobs in Russia.

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News Network
March 11,2024

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Muslims of Karnataka were waiting with bated breath for this moment! The glorious crescent of the moon has been seen in a few areas of the state, thereby signalling the beginning of the holy month of Ramadan!

According to reports, people in Karnataka’s Mysuru and Bagepalli region too witnessed the crescent moon on Monday night (March 11).

Confirming the report, state moon sighting committee member Maulana Maqsood Imran, said that all Qadhis in the state have unanimously declared the beginning of new month. 

In Mangaluru, S M Rasheed Haji, treasurer of Zeenath Bakhsh Central Juma Masjid, officially announced the beginning of the blessed month following the confirmation of moon sighting by local Qadhi Thwaka Ahmed Musliyar. 

Udupi Zilla Sunni Samyukta Jama’ath Qadhi Mani Ustad too confirmed the beginning of Ramadan following reports of moon sighting in nearby area.

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