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External Affairs Ministry of India grants $1 Million to drought-hit Zimbabwe in Africa

Zimbabwe has been hit by the worst drought in two decades and thousands of people might be facing starvation by the end of 2016

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Drought affected area. Image source: Wikimedia Commons
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New Delhi, August 16, 2016: India has handed over $1 million as grant to the African nation,  following an appeal made by drought-hit Zimbabwe, the External Affairs Ministry said on Tuesday.

“Last week, Indian Ambassador to Zimbabwe handed over $1 million to the government of Zimbabwe as a grant from the government of India in response to the appeal made by Zimbabwe,” the ministry said in a statement.

Image source: Wikimedia Commons
Misheck Sibanda. Image source: Wikimedia Commons

“Accepting the grant, Misheck Sibanda, Chief Secretary to the President and Cabinet, thanked for the quick response by the government of India to an international appeal made by Zimbabwe in the wake of El Nino-induced drought disaster,” it stated.

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Sibanda, according to the statement, said that Zimbabwe was happy with the sound relationship that exists between Zimbabwe and India in critical sectors of the economy such as small and medium enterprises, information and communication technology, energy, education and pharmaceuticals.

“India also announced that the logistical modalities are being worked out for the donation of 500 metric tonne of rice in the second phase of assistance,” the External Affairs Ministry said.

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Zimbabwe has been hit by the worst drought in two decades and thousands of people might be facing starvation by the end of this year, in 2016, according to reports. (IANS)

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Big reforms made India fastest growing major economies globally: Garg

It also has enormous implications for emerging markets and developing countries

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The RBI building in Mumbai. Photo credit: AFP/Sajjad Hussain

The major reforms undertaken by the Indian government for raising economic growth and maintaining macroeconomic stability have made the country one of the fastest growing major economies in the world, said Subhash Chandra Garg, Secretary, Department of Economic Affairs (DEA).

Garg was addressing the Special Event hosted by US-India Strategic Partnership Forum on ‘Indian Economy: Prospect and Challenges’ in Washington D.C on Friday.

Indian economy needs big reform.

He said the launch of the Goods and Services Tax (GST) represented an “historic economic and political achievement, unprecedented in Indian tax and economic reforms, which has rekindled optimism on structural reforms.” He further emphasized that India carried-out such major reforms when the global economy was slow.

“With the cyclical recovery in global growth amid supportive monetary conditions and the transient impact of the major structural reforms over, India will continue to perform robustly,” Garg said.

During his meetings, Garg highlighted that the digital age technologies have profound implications for policies concerning every aspects of the economy. It also has enormous implications for emerging markets and developing countries.

Also Read: Biggest Bank Frauds Which Shook The Indian Economy

He expressed that the response to such a transformation will have to shift from ‘catch up’ growth to adoption/adaption of digital technologies for development and growth.

Garg also informed that India has started adopting policies and programmes for transforming systems of delivery of services using digital technologies and connecting every Indian with digital technologies and access through Aadhaar and other such means.

Indian economy should be on rise. www.mapsofindia.com

While citing the example of expanding mobile data access, he mentioned that India is now the largest consumer of mobile data in the world with 11 gigabytes mobile data consumption per month. He informed that India is investing in digital technologies, encouraging private sector to adapt these technologies and also addressing the taxation related issues by introducing equalisation levy.

Garg is currently on an official tour to Washington D.C. to attend the Spring Meetings of the International Monetary Fund and the World Bank and other associated meetings. He is accompanied by Urjit Patel, Governor, Reserve Bank of India and other senior officials. IANS