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Modi in Central Asia: PM gifts Nazarbayev books on religions born in India

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IndiaTv4205ce_Modi-NazarbayevAstana: Indian Prime Minister Narendra Modi on Wednesday presented Kazakhstan President Nursultan Nazarbayev a set of books relating to religions born in India.

President Nazarbayev has held the Congress of Leaders of World and Traditional Religions every three years at the Palace of Peace and Accord in Astana since 2003.

The presented set includes an English translation of Guru Granth Sahib, as also specially commissioned reproductions from the manuscripts collection of National Museum, Delhi, said an official statement.

The reproductions include one of Jainism’s most revered texts, Bhadrabahu’s Kalpasutra (15th century AD) in Prakrit; one of Buddhism’s most important scriptures Ashtasahasrika Prajnaparamita (12th century AD) in Sanskrit; and a Persian translation of Valmiki’s Ramayana (18th century AD) in nastaliq script, the statement said. (IANS)

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  • Enakshi Roy Chowdhury

    a great way to spread knowledge about the religion of India

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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in a November 2016 TV address that all 500-rupee and 1,000-rupee notes, then worth about $7.50 and $15, would be withdrawn immediately from circulation.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.

 

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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.

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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)

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