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World Bank optimistic about India; projects 8 per cent growth next fiscal

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By Newsgram Staff Writer

The World Bank has forecast India’s growth accelerating to 8 per cent for the next fiscal year.

The World Banks’s projections came soon after the rating reports by Moody’s and Fitch changed India’s outlook from ‘stable’ to ‘positive’.

According to the World Bank, India’s gross domestic product (GDP) growth is expected to accelerate to 7.5 percent in fiscal 2015-16.

Riding on a significant acceleration of 12 per cent investment growth, India could reach 8 per cent in the fiscal year 2017-18, as cited by the economic focus report.

The report also pointed out that India is attempting to shift from a consumption-led to an investment-led growth, at a time when China is undergoing the opposite transition.

The think-tank of the rich nations, the Organisation for Economic Cooperation and Development (OECD), also endorsed India’s economic expansion projections.

Chief economist  at World Bank South Asia Martin Rama also added that cheap oil gives India the opportunity to rationalize energy prices, helping it in reducing the fiscal burden from subsidies.

However, World Bank’s bi-annual South Asia Economic Focus report hints at the exports sector in the region remains a cause for worry

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Tibetan Activist Sentenced to 5 Years of Imprisonment in China

A Tibetan education activist was on Tuesday sentenced to five years in prison by a Chinese court for inciting separatism, Amnesty International (AI) said, calling the sentence "unjust" and urging his immediate release.

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A Tibetan education activist was on Tuesday sentenced to five years in prison by a Chinese court for inciting separatism, Amnesty International (AI) said, calling the sentence “unjust” and urging his immediate release.

The main evidence against Tashi Wangchuk, who was sentenced by a court in Yushu Tibetan Autonomous Prefecture in Qinghai province, was a 2015 video by the New York Times about his campaign for saving the Tibetan language, according to his lawyer.

“Today’s verdict against Tashi Wangchuk is a gross injustice. He is being cruelly punished for peacefully drawing attention to the systematic erosion of Tibetan culture,” AI East Asia Research Director Joshua Rosenzweig was cited as saying by Efe news.

Before his arrest, the 31-year-old activist had expressed concern over the fact that many Tibetan children could not fluently speak their native language, contributing to the progressive extinction of the Tibetan culture.

Representational Image: Tibetan Teachings
Image Source: Wikimedia Commons

“Tashi must be immediately and unconditionally released,” demanded AI, pointing out that the activist had already spent two years in detention without access to his family.

Rosenzweig claimed that Tashi Wangchuk “was a human rights defender and prisoner of conscience who used the media and China’s own legal system in his struggle to preserve Tibetan language, culture and identity”.

In the New York Times video, the activist had highlighted “the extreme discrimination and restrictions on freedom of expression that Tibetans face in China today”.

Also Read: An Attempt to Preserve Ancient Tibetan Literature

Non-profit Human Rights Watch (HRW) also criticized the prison term for Tashi Wangchuk, whose “only crime was to peacefully call for the right of minority peoples to use their own language”, a right safeguarded by the Chinese Constitution.

“His conviction on bogus separatism charges show that critics of government policy on minorities have no legal protections,” said HRW China Director Sophie Richardson. (IANS)

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