Tuesday September 24, 2019
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Spreading harmony: India to gift sapling of the sacred Bodhi Tree to China and Mongolia

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By NewsGram Staff Writer

A temple official of Bodh Gaya today informed that India will gift a sapling of the sacred Bodhi Tree to China and Mongolia.

N. Dorjee, the member secretary of Bodh Gaya Temple Management Committee (BTMC), said that the priests of Bodh Gaya’s Mahabodhi temple performed rituals before the sapling were sent to Delhi.

He added that a special prayer was organized in the holy premises of the Mahabodhi temple for the healthy growth of the sapling.

According to BMTC officials, the ministry of external affairs (MEA) had sent a letter, addressed to the Bihar government, asking for the sapling of the sacred tree.

A permission from home department of Bihar was requested, and after getting a clearance from there, the sapling were prepared out of the seeds fallen from the Bodhi Tree.

“A high level delegation of the Indian government would take the sapling of the sacred Bodhi Tree during their visit to China and Mongolia later this month and would be presented to the government there as a good gesture,” said the chief monk of the temple, Bhikkhu Chalinda.

The Mahabodhi temple is a World Heritage Site where the Buddha attained enlightenment around 2,500 years ago. The sacred place is of utmost importance for the Buddhists. The devotees of Buddha revere not only the Bodhi Tree, but even its leaves are worshiped by them.

The Bodh Gaya temple is visited by millions of pilgrims annually from all over the world, especially from Sri Lanka, China, Japan and the Southeast Asian region. Till date, the sapling of Bodhi Tree was gifted to Sri Lanka, Thailand, South Korea, Vietnam, Nepal and Bhutan.

Now gifting the sapling to China would definitely help towards improving the relation between the two countries.

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Automotive Industry To Benefit From Corporate Tax Cut, Says ICRA

India's automotive industry is likely to be one of the key beneficiaries of the recent corporate tax cut, credit ratings agency ICRA said on Monday

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India, Tax cut, Automotive Industry
India's automotive industry is likely to be one of the key beneficiaries of the recent corporate tax cut. Wikimedia Commons

India’s automotive industry is likely to be one of the key beneficiaries of the recent corporate tax cut, credit ratings agency ICRA said on Monday.

“Under the current weak demand conditions, OEMs (original equipment manufacturers) are expected to pass on some of the benefits of tax revision to the end consumers,” ICRA Vice President and Sector Head Pavethra Ponniah was quoted in a statement.

“This implies that the price correction in coming months will to an extent address the demand side issues. Moreover, clarity from the government, that there is no further GST or cess revision, will help consumers who were waiting for improved clarity prior to their car purchase decision,” she added.

According to ICRA, the current reduction of corporate tax rates in India to globally competitive levels will incentivise OEMs and their vendors to increase localisation, which augurs well for the industry.

In 2019-2020, India has imported auto components worth $17.6 billion.

India, Tax cut, Automotive Industry
the current reduction of corporate tax rates in India to globally competitive levels will incentivise OEMs and their vendors to increase localisation. Pixabay

ICRA also said that given the increasing US-China trade tensions, revision in corporate tax will attract FDI in Indian manufacturing sector, as the revised tax structure is now in line with other emerging markets.

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“In the current fiscal, the Indian automotive industry, especially the passenger vehicle segment, has witnessed one of the worst slides since the last two decades because of multiple factors,” the ratings agency said in a statement.

“Tighter financing environment for consumers and the liquidity crunch faced by dealerships coupled with weak farm income and overall slowdown in economic activity has impacted consumer sentiments and purchasing behaviour,” the statement added. (IANS)