ReportWire

Tag: Modi government

  • G20 India: India to assume G20 presidency from today; 100 monuments to be illuminated

    G20 India: India to assume G20 presidency from today; 100 monuments to be illuminated

    [ad_1]

    India will assume the presidency of the G-20 grouping today. As part of this, several events will be held across the country. This includes the lighting of 100 monuments including UNESCO world heritage sites with the G-20 logo to mark the occasion, accompanied by a selfie competition encouraging people to take a picture with the monument in the background.

    The Ministry of Information and Broadcasting, in a tweet on India’s #G20Presidency, stated that “around 200 meetings in 32 different sectors at multiple locations, is to be held over the next one year.” Moreover, the website G20.org will be transferred to New Delhi from Indonesia along with the social media accounts.

    As per sources, the G20 presidency will kick off with celebrations at the Hornbill Festival in Nagaland. In Delhi, External Affairs Minister Dr S Jaishankar will participate in a university connect event at Sushma Swaraj Bhawan, accompanied by the principal secretary.

    Prime Minister Narendra Modi was handed over the presidency of G20 By Indonesian President Joko Widodo at the end of the two-day G20 Summit in Bali, Indonesia. The PM had said that India’s G20 presidency will be inclusive, ambitious, decisive, and action-oriented.

    “Our agenda will be inclusive, ambitious, decisive and action-oriented. We will work to realise all aspects of our vision of ‘One Earth, One Family, One Future’,” he said.

    India will host the G-20 leaders’ summit in New Delhi on September 9-10, 2023.

    The G20 comprises 19 countries — Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, South Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, the UK, the USA –and the European Union (EU).

    Also Read: Gujarat Election 2022 Phase 1 Live Updates: PM Modi to organise 50-km roadshow in Ahmedabad, AAP’s Gopal Italia casts vote

    [ad_2]

    Source link

  • ‘Rupee is not sliding, dollar is strengthening,’ says FM Nirmala Sitharaman

    ‘Rupee is not sliding, dollar is strengthening,’ says FM Nirmala Sitharaman

    [ad_1]

    Finance minister Nirmala Sitharaman, who has been speaking about India’s growth story and robust economy during her recent interactions, has said that in the current scenario, the Indian the rupee is not sliding, but the US dollar strengthening.  Replying to a question, Sitharaman said: “Dollar is strengthening incessantly. So obviously, all other currencies are performing against the strengthening dollar. I am not talking about technicalities but it is a matter of fact India’s rupee probably has withstood this dollar rate going up…I think the Indian rupee has performed much better than many other emerging market currencies.” 

    She said that the Reserve Bank of India (RBI) was focused on ensuring that there isn’t too much volatility and was not intervening in the market to fix the value of the Indian currency. 

    Responding to questions asked by news agency ANI on measures being taken to tackle the slide, she said: “The efforts of RBI are more towards seeing that there is not too much volatility, it is not to intervene in the market to fix the value of the rupee. Containing the volatility is the only exercise RBI is involved in and I have said this before that rupee will find its level,” she said. 

    The depreciation of the rupee is a cause of concern, especially for a country that has significant imports, as per experts. On Friday, the rupee closed at 82.19 against the US dollar amid a firm greenback overseas and sliding crude oil prices. 

    At the interbank foreign exchange market, the local currency opened at 82.26 and witnessed a high of 82.12 and a low of 82.43 before settling at 82.19. The dollar index, which gauges the greenback’s strength against a basket of six currencies, advanced 0.56 per cent to 112.99. 

    As per experts, the latest round of depreciation is due to adverse global developments starting with the geopolitical tensions triggered by the Russian-Ukraine war. The war pushed up commodity prices, leading to a record surge in inflation in the developed world, which has resulted in steep rate hikes by the US Fed. This has resulted in a flight of capital back to the US, hence resulting in currency depreciation episodes. 

    [ad_2]

    Source link