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Modi Appeals For A Regional Front Against Terrorism

India and Afghanistan accuse Pakistan of plotting terror attacks

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Modi Appeals For A Regional Front Against Terrorism
Modi Appeals For A Regional Front Against Terrorism, flickr
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Indian Prime Minister Narendra Modi on Sunday appealed for a regional front against terrorism and slammed attempts to “threaten” peace in Afghanistan, which accuses neighbouring Pakistan of causing trouble in its territory.

At the restricted session of the Shanghai Cooperation Summit in the Chinese city of Qingdao, Modi said the worsening situation in Afghanistan was “an unfortunate example” of terrorism.

India and Afghanistan accuse Pakistan of plotting terror attacks in their countries.

“All parties in the region should respect the sentiment with which (Afghan) President Ghani has taken courageous steps for peace,” Modi said.

He said it was “our common responsibility to ensure that reasons that threaten Afghanistan’s sovereignty and security are not repeated”.

Modi also talked about connectivity projects and said India was all for such programmes provided they respect the country’s sovereignty and territorial integrity.

New Delhi opposes Beijing’s Belt and Road project, whose key artery cuts through the disputed Kashmir held by Pakistan and claimed by India.

“We have again reached a stage where physical and digital connectivity is changing the definition of geography. Therefore, connectivity with our neighbourhood and in the SCO region is our priority,” Modi said.

Modi also talked about connectivity projects
Modi also talked about connectivity projects, flickr

“We welcome any new connectivity project, which is inclusive, sustainable and transparent and respects country’s sovereignty and regional integrity.

“India’s active participation in the development of international North-South Transport Corridor, Chabahar port, shows our commitment.”

He also talked about regional security.

Also read: India Canada fight terrorism

He coined an acronym for the word SECURE: ‘E’ for economic development, ‘C’ for connectivity in the region, ‘U’ for unity, ‘R’ for respect of sovereignty and integrity and ‘E for environment protection. (IANS)

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The Answer to The Impending Questions On Demonetization Are Here

While it did broaden the country’s tax base, it was a nightmare for the immense, cash-dependent informal economy.

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Indian Currency. Pixabay

Nearly all of the currency removed from circulation in a surprise 2016 attempt to root out illegal hoards of cash came back into the financial system, Resever Bank of India  has announced, indicating the move did little to slow the underground economy.

Prime Minister of India, Narendra Modi’s currency decree, which was designed to destroy the value of billions of dollars in untaxed cash stockpiles, caused an economic slowdown and months of financial chaos for tens of millions of people or demonetization.

Modi announced in a November 2016 TV address that all 500-rupee and 1,000-rupee notes, then worth about $7.50 and $15, would be withdrawn immediately from circulation. The banned notes could be deposited into bank accounts but the government also said it would investigate deposits over 250,000 rupees, or about $3,700. The government eventually released new currency notes worth 500 and 2,000 rupees.

 

demonetization
An activist of Congress party hold the banned 500 and 1000 rupee notes.

 

In theory, the decree meant corrupt politicians and businesspeople would suddenly find themselves sitting on billions of dollars in worthless currency, known here as “black money.”

“A few people are spreading corruption for their own benefit,” Modi said in the surprise nighttime speech announcement of the order. “There is a time when you realize that you have to bring some change in society, and this is our time.”

But even as the decree caused turmoil for those in India who have always depended on cash — the poor and middle class, and millions of small traders — the rich found ways around the currency switch. In the months after the decree, businesspeople said that even large amounts of banned currency notes could be traded on the black market, though middlemen charged heavy fees.

demonetization
Prime Minister Narendra Modi along with mayor, flickr

The reserve bank of India report said in its Wednesday report that 99.3 percent of the $217 billion in notes withdrawn from circulation had come back into the economy. Some officials had originally predicted that number could be as low as 60 percent.

Also Read: Diverse Gathering To Be Addressed This World BioFuel Day: PM Narendra Modi

“Frankly, I think demonetization was a mistake,” said Gurcharan Das, a writer and the former head of Proctor & Gamble in India. He said that while it did broaden the country’s tax base, it was a nightmare for the immense, cash-dependent informal economy.

“You can’t overnight change that in a country which is poor and illiterate. Therefore, for me it’s not only an economic failure but a moral failure as well,” Das said. (VOA)