PM Modi launches $4.2 mn redevelopment project of Hindu temple in Bahrain

Modi, the first Indian Prime Minister to visit the key Gulf nation, offered prayers at the Shreenathji Temple in Manama, the oldest temple in the region

Current Affairs:-Head administrator Narendra Modi on Sunday propelled the $4.2 million redevelopment task of the 200-year-old Lord Sri Krishna sanctuary in the Bahraini capital.

Modi, the main Indian Prime Minister to visit the key Gulf country, offered petitions at the Shreenathji Temple in Manama, the most established sanctuary in the locale, and furthermore the prasad’ that he purchased with the RuPay card in the wake of propelling it in the UAE on Saturday.

Head administrator at that point disclosed the plaque, along these lines formally propelling the redevelopment task of the notorious sanctuary.

Much obliged to you Bahrain for the glow and warmth. PM @narendramodi closes his noteworthy encounter with supplications at the 200 years of age Shreenathji Temple in #Manama, the most seasoned sanctuary in the area. The sanctuary mirrors the pluralism of Bahraini society, External Affairs Ministry representative Raveesh Kumar said in a tweet.

The facelift for the Shreenathji (Shree Krishna) sanctuary in Manama will commence not long from now.

The USD 4.2 million redevelopment venture will be on a real estate parcel estimating 16,500 square feet and the new four-story structure covering 45,000 square feet will have a general tallness of 30 meters.

The legacy and the 200-year-old heritage of the sanctuary will be featured in the redevelopment and the new famous complex will house the sanctum sanctorum and supplication lobbies.

There are additionally offices for customary Hindu wedding functions and different ceremonies, advancing Bahrain as a wedding goal and boosting the travel industry.

Modi touched base here on Saturday, the first ever by an Indian Prime Minister to Bahrain.

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Cryptocurrencies not money, their value is based on thin air: Donald Trump

Cryptocurrency has flourished since Bitcoin launched in 2009. But when Facebook unveiled plans last month for its own virtual currency, Libra, the announcement rattled financial regulators

International:-Donald Trump communicated his question of digital currency Thursday, saying it was “not cash” and cautioning that those wishing to join the exchange would need to submit to banking guidelines.

“I am not a devotee of Bitcoin and different Cryptocurrencies, which are not cash, and whose worth is exceedingly unstable and dependent on slim air,” Trump tweeted.

He included that cryptographic money, whose electronic nature makes it almost untraceable, could encourage unlawful action.

Digital currency has thrived since Bitcoin propelled in 2009. Be that as it may, when Facebook uncovered plans a month ago for its very own virtual money, Libra, the declaration shook monetary controllers the world over.

With in excess of two billion Facebook clients, the web-based social networking goliath’s cryptographic money – which is slated for a 2020 dispatch and as of now has numerous accomplices – could totally disturb the budgetary world.

However, Trump said that Libra has “small standing or steadfastness.” He additionally cautioned Facebook and different organizations that, should they dispatch their own digital money, they would need to submit to both American and global financial guidelines.

“We just have one genuine cash in the USA, and it is more grounded than at any other time,” he tweeted.

“It is known as the United States Dollar!”

An abnormal state G7 working gathering is relied upon to deliver a fundamental report on resource supported cryptographic forms of money one week from now when the gathering’s account priests meet in France.

“The more we, the global controllers, examine this venture, the more we have genuine inquiries and possibly reservations,” said Francois Villeroy de Galhaut, leader of the French national bank.

His American partner at the Federal Reserve additionally proposed the subject Wednesday and Thursday when affirming before Congress.

“I think we have to complete an exceptionally cautious, tolerant, careful evaluation of what the dangers truly are,” Jerome Powell said Thursday, including that the size of Facebook’s web based life system focuses to Libra’s “fundamental significance.”

Some American legislators have required an all out stop on Facebook’s Libra venture.

Facebook has promised to convey a stable virtual money that lives on cell phones and could bring over a billion “unbanked” individuals – grown-ups without ledgers or the individuals who use benefits outside the financial framework, for example, payday credits to make a decent living – into the budgetary framework.

The universality of cell phones implies computerized wallets for Libra could extend the utilization of banking, charge card administrations and online business in creating countries.

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Pakistan economy critical, facing major challenges due to weak growth: IMF

Cash-strapped Pakistan, which currently has a currency reserve of less than $8 billion, approached the Washington-based IMF in August 2018 for a bailout package

International:-Pakistan is confronting “huge financial difficulties” due to a powerless and uneven development and that its economy is at a basic point where it needs an aspiring and intense arrangement of changes, the IMF has said.

Destitute Pakistan, which as of now has a money hold of under $8 billion – enough to cover just 1.7 long periods of imports – moved toward the Washington-based International Monetary Fund (IMF) in August 2018 for a bailout bundle after the Imran Khan government dominated.

The worldwide moneylender a week ago officially endorsed the $6 billion advance to Pakistan, which is confronting “noteworthy” monetary difficulties on the back of “enormous” financial and budgetary needs and “frail and lopsided” development.

“Pakistan is confronting noteworthy monetary difficulties on the back of huge monetary and money related needs and frail and unequal development,” David Lipton, First Deputy Managing Director and Acting Chair of the IMF Executive Board said.

A week ago, the IMF endorsed the thirteenth bailout bundle for Pakistan since the late 1980s.

The most recent bailout bundle is worth $6 billion, of which $1 billion is to be dispensed quickly and the rest in the following three years.

A conclusive monetary solidification is critical to diminishing the enormous open obligation and building strength, and the appropriation of the financial year 2020 spending plan is a significant starting advance, Lipton said.

Accomplishing the monetary destinations will require a multi-year income activation procedure to expand the assessment base and raise charge income in a well-adjusted and impartial way, he said.

It will likewise require a solid responsibility by the regions to help the combination exertion and powerful open money related administration to improve the quality and effectiveness of open spending, he said.

Seeing that shielding the most defenseless from the effect of modification approaches will be a significant need, Lipton said that this will be accomplished by a noteworthy increment in assets dispensed to key social help programs, supporting measures for the monetary strengthening of ladies and interest in territories where neediness is high.

An adaptable market-decided conversion scale and a satisfactorily tight fiscal arrangement will be critical to adjusting lopsided characteristics, remaking stores and keeping swelling low, he stated, adding that a goal-oriented motivation to reinforce foundations and evacuate obstructions to development will enable Pakistan to achieve its full financial potential.

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China accounted for around 67% of India’s bulk drug imports in FY19

The import of bulk drugs and drug intermediates from China stood at $2,055.94 million in 2017-18, accounting for 68.68 per cent of their total import

International:-China represented 67.56 percent of all out imports of mass medications and medication intermediates in 2018-19 at $2,405.42 million, Parliament was educated on Tuesday.

The import of mass medications and medication intermediates from China remained at $2,055.94 million of every 2017-18, representing 68.68 percent of their complete import, Minister of Chemicals and Fertilizers D V Sadananda Gowda said in an answer to the Lok Sabha.

Refering to information from DGCIS Kolkata, he said portion of China in the absolute mass medication imported to the nation during 2018-19 was around 67 percent.

“The nation imports mass medications/dynamic pharmaceutical fixings (APIs) for delivering prescriptions including certain fundamental drugs. As India is a signatory to the WTO and TRIPs understanding, all things considered the import confinements have been evacuated,” Gowda said.

It might be referenced that the majority of the imports of the mass medications and APIs are being done in the nation in view of monetary contemplations, he included.

Expressing that the legislature is focused on making India adequately independent in start to finish indigenous medication fabricating by making Indian pharmaceutical industry all inclusive aggressive, Gowda stated: “The arrangements planned by the administration now and again are intended to limit the nation’s reliance on imports and to offer fillip to indigenous assembling.”

Toward this path, the administration in its notice on January 28, 2016, has pulled back exclusion of traditions obligation of specific classifications of mass medications and APIs, he included.

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