Addressed the #SAARC Foreign Ministers Informal Meeting today. Reaffirmed India’s commitment to Neighbourhood First policy and towards building a connected, integrated, secure and prosperous South Asia.
Highlighted India’s COVID Cooperation efforts:
• Committed USD 10 million to COVID-19 Emergency Fund created for the region
• Already supplied essential drugs, medical consumables, COVID protection and testing kits etc to the region.
• Video conference of health professionals to share information and best practices from the region
• Launched a ‘COVID-19 Information Exchange Platform (COINEX)’ to facilitate exchange of specialized information.
• Development of an innovative website by SAARC Disaster Management Centre to provide reliable information & updates on the evolving situation across our member countries
• SAARC Food Bank mechanism was activated to mitigate the adverse impact of the pandemic.
• And where we brought back our own people from afar, we had space both on the plane and in our hearts for our neighbours.
Emphasised India’s support for our #SAARC neighbours:
• Extended USD 150 million foreign currency swap support to Maldives
• Currency swap support of USD 200 million to Bhutan
•USD 400 million to Sri Lanka during the course of this year.
Recognise the progress on South Asian satellite and extension of National Knowledge Network.
Cross-border terrorism, blocking connectivity and obstructing trade are three key challenges that SAARC must overcome.
Only then will we see enduring peace, prosperity and security in our South Asia region.
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2. Approval of PM-Surya Ghar: Muft Bijli Yojana for installing rooftop solar in 10 million households.
Will save electricity bills and help households earn additional income through sale of surplus power to DISCOMs. Will also create around 170,000 direct jobs.
3.Approval of royalty rates for mining of 12 critical and strategic minerals.
The decision completes the rationalisation of royalty rates for all 24 critical and strategic minerals and will enable Government to auction blocks for these 12 minerals for the first time.
Finance Minister @nsitharaman ji presented the Budget of the 5th largest economy of the world today.
10 reasons why the world should welcome it:
𝟏.𝐈𝐧𝐝𝐢𝐚 𝐚𝐬 𝐚 𝐬𝐭𝐫𝐨𝐧𝐠𝐞𝐫 𝐞𝐧𝐠𝐢𝐧𝐞 𝐨𝐟 𝐠𝐥𝐨𝐛𝐚𝐥 𝐠𝐫𝐨𝐰𝐭𝐡. Capital investment outlay increased by 33% to Rs 10 trillion (Now 3.3% of GDP).
𝟐.𝐄𝐧𝐡𝐚𝐧𝐜𝐢𝐧𝐠 𝐄𝐚𝐬𝐞 𝐨𝐟 𝐃𝐨𝐢𝐧𝐠 𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬. Includes KYC process simplification, Greater GIFT IFSC activities and establishing an EXIM Bank subsidiary for trade re-financing, PAN as Common Business Identifier, Central Data Processing Centre,
This ranges from enhancing self-reliance, reducing poverty, unleashing youth and women power and strengthening diversity.
India is today a provider of solutions, ensuring basic facilities to its people, creating a modern infrastructure, building a digital network, eliminating corruption in Government schemes and above all, overcoming policy paralysis.
2️⃣ India’s working democracy is an important reason for the world why it matters.
3️⃣ India matters because global opportunities and challenges cannot be separated and India counts on both scores.
4️⃣ India matters when it is perceived as an exemplar by many in the Global South. And because there are few others who have taken our Development Partnership approach.
5️⃣ India matters when it makes a greater contribution to global production and services.
Addressed Foreign Ministers’ Session on G20 at Voice of Global South Summit.
Made following 7️⃣points:
1️⃣India and the Global South not only have a common future but also a common past. We shoulder burdens of a colonial past,even as we face inequities of the current world order.
2️⃣ While we promote faster rebalancing, more multipolarity and reformed multilateralism, it is imperative that key global conversations of our times reflect our concerns and challenges.
3️⃣ Challenges of unsustainable debt, unviable projects, trade barriers, contracting financial flows and climate pressure have been compounded by covid pandemic & knock-on effects of the Ukraine conflict.