Friday October 19, 2018
Home Uncategorized Putin gifts M...

Putin gifts Modi Gandhi’s notes, Indian sword

0
//
52
Republish
Reprint

Moscow: Russian President Vladimir Putin presented visiting Indian Prime Minister Narendra Modi a page from the diary of Mahatma Gandhi and an 18th-century Indian sword, an official statement said today.

Putin presented the items to Modi while hosting the latter for a private dinner on Wednesday evening

“President Putin presented to the Prime Minister a page from the diary of Mahatma Gandhi. The page contains Gandhiji’s handwritten notes,” the Prime Minister’s Office said in a statement.

Putin also gifted Modi a late 18th-century Indian sword from Bengal province that features intricate silver artwork.

Modi arrived in Moscow on Wednesday to a red carpet welcome for a two-day visit during which he will attend the 16th India-Russia annual summit meeting.

During this visit, a raft of agreements spanning a broad spectrum of sectors is expected to be signed following summit-level talks on Thursday between the two countries with trade being a major focus area.

Modi and Putin are scheduled to meet a delegation of Indian and Russian CEOs in the Kremlin.

Modi will address a gathering of Friends of India and also meet members of the Indian community in Russia.

The Prime Minister’s itinerary includes a visit to Russia’s National Crisis Management Centre (NCMC) in Moscow today.

The NCMC is a multi-level coordination centre designed to provide inter-agency coordination and alert the people about the threat of emergency situations. The capabilities of the NCMC include state-of-the-art real-time monitoring, data collection, analysis and modelling.(IANS) 

Click here for reuse options!
Copyright 2015 NewsGram

Next Story

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.

0
crop loan
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)

Next Story