Gold projects in India are started to increase the production of gold from various mineral sources. Through these projects, the Government of India and mineral producing companies are trying to increase the production of gold so that it can help in the economic growth of the country. There may be various technical, economic and environmental objectives behind these projects. Here are some important gold projects in India in detail:
Hutti Gold Mines: Hutti Gold Mines is located in the state of Karnataka and is one of the most prominent gold mines in India.
Kolhan Gold Fields: It was a gold mine located in eastern Karnataka state whose production stopped in 2001.
Ramgadde Gold Project: It is located in the state of Rajasthan and is a major gold mining project.
Chittaram Gold Project: It is located in the state of Karnataka and is another important source of gold production.
Beehan Gold Project: It is located in the state of Uttar Pradesh and is a major source for gold production.
Petrol-Diesel Price: Crude oil prices in the international market (Crude Oil PriceThe fire in ) has now stopped. After crossing the price of $90 per barrel, the price of crude oil has now fallen sharply. WTI Crude is being sold at $82.79 per barrel. Whereas, Brent crude is $ 85.58 per barrel. The fall in prices is going to have a big impact on the global market. Meanwhile, on Sunday morning, oil distributor companies have released today’s prices of petrol and diesel. The fall in the price of crude oil in the international market has not seen any significant impact in the market. Oil companies have not made any changes at the national level. However, there have been slight fluctuations in the prices of petrol and diesel in some cities of the country. The prices of petrol and diesel are stable in the four metropolitan cities of the country, Delhi, Mumbai, Chennai and Kolkata. In the capital Delhi, petrol is being sold at Rs 96.72 and diesel at Rs 89.62 per liter. Whereas, in Mumbai, petrol is available at Rs 106.31 and diesel at Rs 94.27 per liter since this morning. At the same time, in Chennai petrol is being sold at Rs 102.63 and diesel at Rs 94.24 per liter, while in Kolkata petrol is being sold at Rs 106.03 and diesel at Rs 92.76 per liter.
Petrol and diesel prices in other cities
City Petrol(Rs/Litre) Diesel(Rs/Litre)
Noida 97.00 90.14
Gurugram 96.94 89.82
Bengaluru 101.94 87.89
Chandigarh 96.20 84.26
Jaipur 108.48 93.72
Patna 107.24 94.04
Lucknow 96.58 89.77
Crude oil futures prices fall due to weak spot demand
Crude oil prices fell by 0.19 percent to Rs 6,907 per barrel in futures trade on Friday as traders cut their deals following weak spot demand. On the Multi Commodity Exchange, the contract of crude oil for delivery in October fell by Rs 13 or 0.19 percent to Rs 6,907 per barrel. It was traded for 12,195 lots. Globally, West Texas Intermediate crude oil fell 0.39 percent to $ 82.63 per barrel, while the price of Brent crude was trading at $ 84.26 per barrel, showing a decline of 0.23 percent.
How to check the fuel rate of your city
To know the fuel rate of your city through message, BPCL customers will have to send the message RSP to number 9224992249. To know the price, HPCL customers should message HPPRICE to 9222201122. Indian Oil customers can message RSP to number 9224992249.
How are the prices of petrol and diesel decided in India?
Petrol and diesel prices in India are decided by the government and it is a dynamic process that depends on various factors. Here are some of the main factors that influence this process:
International Market Prices: India does not have a reliable distribution network of petrol and diesel for the users. Therefore, despite the succession of prices of petrol and diesel in the world market, India is finally defined in quantity and distribution.
Taxes and Duties: Taxes and duties imposed by various states and union territories are included in determining the prices of petrol and diesel. This is usually subject to change based on various updated decisions.
Contribution of State Governments: State governments can also include their contribution to control the prices of petrol and diesel. They may impose various duties and taxes in their state.
Demand for Currency and Supply of Petroleum Products: The balance between demand for petroleum products and their supply can also affect prices. If demand for products is high and supply is low, prices may increase. If demand for products is low and supply is high, prices may decrease.
Export and Import Events: Various export and import events can also affect the prices of petrol and diesel.
Petrol-Diesel Price: There was a continuous rise in the prices of crude oil in the international market. The price of crude oil had reached near $100 per barrel. But, after this a decline is being seen in the prices. An increase of 0.60 percent was seen in the price of WTI Crude Oil at 6 am on Friday. It was being sold at around $82.80 per barrel. Whereas, Brent crude oil remains at $ 84.46 per barrel with an increase of 0.46 percent. However, there is no significant impact of fluctuations in the price of crude oil in the international market in India. The price of petrol and diesel is stable in most cities. However, in Chennai petrol is being sold 3 paise cheaper at Rs 102.74 per litre. Whereas, diesel prices have also been reduced by four paise. It is being sold at Rs 94.33 per litre. At the same time, the prices of petrol and diesel are stable in the country’s capital Delhi. Here petrol is being sold at Rs 96.72 per liter and diesel at Rs 89.62 per litre. Whereas, in Mumbai petrol is being sold at Rs 106.31 per litre, diesel at Rs 94.27 per liter and in Kolkata petrol is being sold at Rs 106.03 per liter and diesel at Rs 92.76 per litre.
Petrol-Diesel Price Today: The price of crude oil has decreased in the international market. WTI Crude Oil The price was at $ 84.32 per barrel with an increase of 0.12 percent at 6 am. Whereas, the price of Brent crude oil has increased by 0.15 percent to reach $ 85.94 per barrel. Meanwhile, on Thursday morning, Indian oil distribution companies have released the prices of petrol and diesel. Oil prices remain normal in most cities of the country. Whereas, in many cities the prices of petrol and diesel have gone up and down. In Agra, Uttar Pradesh, petrol has become costlier by 20 paise and is being sold at Rs 96.47 per liter and diesel has become costlier by 20 paise and is being sold at Rs 89.64 per litre. Whereas, people in Varanasi will have to buy expensive oil today. Here petrol and diesel have become costlier by 16 paise. Due to this, petrol is available at Rs 97.05 and diesel at Rs 90.24 per litre. In Noida of NCR too today an increase of 17 paise is being seen in the price of petrol and diesel. Here petrol is being sold at Rs 96.77 per liter and diesel at Rs 89.94 per litre. In Ahmedabad, Gujarat, petrol is being sold costlier by 5 paise to Rs 96.37 and diesel by 6 paise to Rs 92.11 per liter since morning. The biggest reduction in the prices of petrol and diesel has taken place today in Jaipur, Rajasthan. Here petrol has become cheaper by 83 paise and is available at Rs 108.48 while diesel is available at Rs 93.72 per liter after a reduction of 75 paise. In Pune, petrol is becoming cheaper by 33 paise at Rs 105.84 and diesel is becoming cheaper by 32 paise at Rs 92.36 per litre.
Petrol diesel price in other cities
City Petrol(Rs/Litre) Diesel(Rs/Litre)
Noida 96.59 89.76
Gurugram 96.96 89.83
Hyderabad 109.66 97.82
Chandigarh 96.20 84.26
Bengaluru 101.94 87.89
Lucknow 96.57 89.76
Patna 107.74 94.51
Jaipur 108.48 93.72
Bhubaneswar 103.02 94.59
Crude oil futures prices fall due to weak spot demand
Crude oil prices fell 1.44 percent to Rs 7,341 per barrel in futures trade on Wednesday as traders cut their deals following weak spot demand. On the Multi Commodity Exchange, the contract of crude oil for delivery in October fell by Rs 107 or 1.44 percent to Rs 7,341 per barrel. It was traded for 6.959 lots. Globally, West Texas Intermediate crude oil declined by 1.13 percent to $ 88.22 per barrel, while the price of Brent crude was trading at $ 90.03 per barrel, showing a slight rise.
How to check the fuel rate of your city
To know the fuel rate of your city through message, BPCL customers will have to send the message RSP to number 9224992249. To know the price, HPCL customers should message HPPRICE to 9222201122. Indian Oil customers can message RSP to number 9224992249.
How are the prices of petrol and diesel decided in India?
Petrol and diesel prices in India are decided by the government and it is a dynamic process that depends on various factors. Here are some of the main factors that influence this process:
International Market Prices: India does not have a reliable distribution network of petrol and diesel for the users. Therefore, despite the succession of prices of petrol and diesel in the world market, India is finally defined in quantity and distribution.
Taxes and Duties: Taxes and duties imposed by various states and union territories are included in determining the prices of petrol and diesel. This is usually subject to change based on various updated decisions.
Contribution of State Governments: State governments can also include their contribution to control the prices of petrol and diesel. They may impose various duties and taxes in their state.
Demand for Currency and Supply of Petroleum Products: The balance between demand for petroleum products and their supply can also affect prices. If demand for products is high and supply is low, prices may increase. If demand for products is low and supply is high, prices may decrease.
Export and Import Events: Various export and import events can also affect the prices of petrol and diesel. These events occur between different countries and producers and impact prices.
Ujjwala Yojana 2023: The Central Government has given big relief to the beneficiaries of Ujjwala Scheme. The government has increased the amount of subsidy on Ujjwala scheme (LPG Cylinder Subsidy Hike) has been increased from Rs 200 to Rs 300. At present, people have to pay Rs 903 for a 14.2 kg LPG cylinder. Whereas, under the scheme, the beneficiaries had to pay Rs 703. After increasing the subsidy by the Central Government, the beneficiaries will have to pay Rs 603. Earlier, on August 30, giving a big relief to the common people and the beneficiaries of Ujjwala scheme, the Central Government had announced a subsidy of Rs 200 on LPG cylinder and an additional subsidy of Rs 200 to the customers of Ujjwala scheme. Earlier, under the Ujjwala scheme, beneficiaries were being given a subsidy of Rs 200 on the cylinder. This simply meant that now they were being given a subsidy of Rs 400 on the purchase of LPG cylinder. But after this announcement of the government, the subsidy given under Ujjwala scheme has increased to Rs 500.
what is ujjwala scheme
Ujjwala Yojana is an important welfare scheme of the Government of India which aims to provide wrapped bottled gas (LPG) cylinders instead of vegetarian clothes to the poor class households. Its main objective is to provide clean, energy-conserving and equitable cooking facilities to poor women and their families. This scheme is part of the many schemes of the Government of India for poverty alleviation and prosperity. This is an effort to bring positive change in the lives of poor women.
Important points of Ujjwala scheme:
Classification of beneficiaries: Under the Ujjwala scheme, beneficiaries are selected on the basis of specific parameters. Most of the poor and low-income families are included in this.
Gas Cylinder Distribution: Under the Ujjwala scheme, selected beneficiaries are provided a new and Government of India approved LPG cylinder free of charge from the exchange.
Financial Assistance: The scheme provides gas cylinders at cheap rates to economically challenged and low-income families.
Safety and Hygiene: With the Ujjwala scheme, LPG gas cylinders provide a safe and hygienic alternative to wood or wood fired chulhas, with no electricity and no digging.
Social Benefits: Through the scheme, women can save time and energy for their families, which can help them in pursuing education and other educational works.
Model Tenancy Act: Model Tenancy Act for dissemination in States and Union Territories (UTs) by the Union Cabinet (MTA) more than two years after it was approved and the Ministry of Housing and Urban Affairs (MOHUADespite reminders, only four states have adopted this law. On August 24, the ministry wrote to chief secretaries of states and union territories, reminding them of the benefits of the Model Act and asking them to take steps to enact laws or amend existing tenancy laws based on it. According to the letter, since June 2021, the Ministry has written five times to the states and union territories to implement it. Information about Model Tenancy Act law is given in the letter. Its benefits have also been explained in detail. Even after this, till now it has been adopted only by Assam, Uttar Pradesh, Tamil Nadu and Andhra Pradesh.
Laws made in Assam and Uttar Pradesh in 2021
Tamil Nadu and Andhra Pradesh had enacted their own laws before the final MTA was approved – in 2017 and 2018 respectively – as the ministry sought to repeal old rent control acts and enact new tenancy laws when it launched the ‘Housing for All’ mission in 2015. Was suggested. After the approval of the Model Act, Assam and Uttar Pradesh made their own laws in 2021. A senior UP government official said the state has set up rent courts in all 75 districts, one of the provisions of the Uttar Pradesh Urban Premises Tenancy Regulation Act, 2021. Whereas the Model Act states that no property can be given on lease without informing the rent authority in writing. In Uttar Pradesh the Act makes it mandatory for leases of more than 12 months. The official said that since most of the leases are for 11 months, the state has so far received 206 applications for registration of leases. The process of making rules is still going on in Assam.
It is necessary to sign the rental agreement
The Model Tenancy Act states that for renting out properties, the agreement must be signed by the tenant and the landlord. This includes the tenancy period, agreed rent escalation and fixed security deposit (up to two months’ rent for residential and six months’ rent for non-residential). These agreements are to be submitted to the rent authorities (Deputy Collector rank officers) for approval. The Act requires the establishment of Rent Courts, consisting of an officer of the rank of ADM appointed by the District Magistrate for adjudication of disputes, and Rent Tribunals consisting of a District Judge or Additional District Judge appointed by the State Government in consultation with the High Court. In case of dispute, the Rent Court can decide on revision of rent, eviction, application for taking possession of the premises etc. The order can be challenged before the Rent Tribunal.
The tenant will get many rights under the Act
States have the right to implement the Model Tenancy Act passed in the Parliament by the Central Government. With its implementation in the state, tenants along with landlords will get many rights. If there is a dispute between the owner and tenant of a house or property regarding any matter, then both will have the legal right to resolve it. Everything will be written. Therefore no one will be able to take possession of anyone else’s property. Landlords will not be able to put pressure on their tenants to vacate the house. Many important provisions have been made for this.
What is Model Tenancy Act
Model Tenancy Act (Model Tenancy Act) is a proposed tenancy act drafted by the Government of India, the main objective of which is to establish new tenancy rules and procedures for rental lands and various types of properties in India. Its aim is to make tenancy relationships between tenants and owners clear and reliable, and to reduce financial disputes.
Key features and provisions of the law:
Regulations and time limits: This Act sets out specific time limits for bringing the tenancy relationship under prescribed rules, such as the time limit for pre-notification from the tenant and opportunity notice from the owner.
Tenant Rights: This Act strengthens the rights of tenants, such as the right to increase regulated rents within regulated parameters.
Owner’s rights: Owners are allowed full control and various uses of their property, but they are also responsible for respecting the rights of tenants.
Security Security: Under this, the procedure and rules for giving security by the tenant have been prescribed.
Discipline and penalty: The Act stipulates punishment for violations between tenants and owners.
Dispute Resolution: The Act encourages judicial resolution of disputes and prompt completion of the judicial process.
Real Estate: Amidst the weak global market, there is a boom in home sales in India. The reason for this is being said by the Reserve Bank to maintain stability in home loan interest rates. A research report by real estate consulting company Anarock (Anarock Report On Housing Sale And Price) It has been claimed that between July and September, housing sales in seven major cities increased by 36 percent on an annual basis to a record 1,20,280 units. Whereas last year 88,230 units were sold. The report states that during the July-September period this year, average housing prices in seven cities increased by 11 percent on an annual basis. The highest growth in housing sales in the country was seen in Hyderabad at 18 percent. Anarock underlined that quarterly sales in July-September reached the highest level ever. Anarock Chairman Anuj Puri said Mumbai Metropolitan Region (MMR) and Pune contributed 51 percent to the total sales. He said that the sales have remained good due to the Reserve Bank of India keeping the policy rate unchanged twice. He said that this has kept the housing interest rates stable, due to which the sentiment to buy houses remains high.
Housing sales increased by six percent in Delhi-NCR
According to the data, during July-September 2023, Delhi-NCR (Delhi-NCRHousing sales in India rose six per cent to 15,865 units from 14,970 units in the year-ago period. Housing sales in MMR increased by 46 percent from 26,400 units to 38,500 units during the period under review. Housing sales in Bengaluru increased by 29 percent to 16,395 units from 12,690 units in the same period last year. Sales in Pune increased by a maximum of 63 percent from 14,080 units to 22,885 units. Sales of residential properties in Hyderabad increased by 41 percent to 16,375 units from 11,650 units. In Chennai, it increased by 42 percent from 3,490 units to 4,940 units. Housing sales in Kolkata increased by seven per cent to 5,320 units during July-September this year, from 4,950 units in the year-ago period. Mohit Jain, managing director of Gurugram-based realty company Crisumi Corporation, said there has been strong demand for housing in the last few years mainly due to rising aspiration to buy homes due to rising income levels. This is expected to continue further also.
Earlier, Anarock had said in a report that with the help of stringent rules under the real estate law RERA, at least 86 percent of the total 1,642 residential projects started between July 2017 and December 2018 in seven major cities were completed. are done. According to property consultant Anarock, these 1,642 projects are registered under the real estate regulatory law RERA. Anarock Chairman Anuj Puri said that RERA has helped a lot in timely completion of residential real estate projects. He said the overall completion rate of 86 per cent in the top seven cities in one and a half years after the implementation of RERA is remarkable, especially considering the market conditions before its implementation. The Real Estate (Regulation and Development) Act 2016, also known as RERA, was passed in Parliament in March 2016. Some sections of RERA were notified from May 1, 2016 and the remaining sections from May 1, 2017. Under this, it is mandatory to register projects (above 500 square meters and above eight apartments) under RERA before starting them.
Life Certificate: Crores of retired central and state government employees are required to give life certificate in the month of November. The last date for this has been fixed by the Central Government as 30th November. Earlier, for this the professionals had to go to the bank themselves and pay the money. Due to this he had to face problems. But now they are going to get relief from this problem. It is being told that the Central Government has directed all pension disbursing banks to make arrangements to send ‘doorstep executives’ to sick and hospitalized pensioners to help them submit life certificates. The Department of Pension and Pensioners’ Welfare (DOPPW) has said in an order that all banks should make efforts to create awareness among very senior pensioners aged 80 years and above about getting life certificate made through digital medium. Digital life certificate of pensioners can be created using facial verification technology.
Central government has 69.76 lakh pensioners
To continue receiving their pension, all pensioners have to provide proof of their survival every year, which is called ‘Life Certificate’. At present there are about 69.76 lakh pensioners of the Central Government. In the year 2019, the Central Government had asked the banks to allow very senior pensioners to submit their life certificates from October 1 instead of November. Whereas pensioners below 80 years of age have to give their life certificate in November. In the order issued by DOPPW on September 25, it has been said that now every pensioner can submit the Digital Life Certificate (DLC), made through facial verification technology, from his home through his smartphone or in the bank branch.
Facility will be available through doorstep banking
According to the order, banks can provide the facility of submitting life certificates by appointing doorstep banking executives. Banks can instruct their branches to provide this facility to pensioners above 80 years of age from October 1. In this order, banks have been suggested to use various platforms to create awareness about the facility of making digital life certificate. Information about this can be given through posters at bank branches and ATMs.
You can submit the certificate online
The Central Government has taken the initiative to simplify it for the convenience of senior citizens. Now pensioners can submit their life certificate online sitting at home. To submit your life certificate online, a website https://jeevanpramaan.gov.in/ has been launched by the government. Here pensioners can update their life certificate directly. Apart from this, if pensioners wish, they can also use door step banking of banks. Many private and government banks provide their senior citizens the facility to submit life certificate sitting at home. In this, the bank employees go to the home of the pension holder and get the proof of his survival verified. Door step banking is different for every bank. According to the current rules, Door Step Life Certificate service can be availed by any senior citizen above 70 years of age who is unable to walk. For this, it is necessary for the customer to have KYC and the mobile number must be registered with the account. Door Step Life Certificate Service is currently being provided by State Bank of India. The charges for door step banking are different for different banks. However, for financial and non-financial transactions like submission of life certificate, a fee of Rs 70 plus GST has to be paid by the bank.
What is pensioners life certificate?
Pensioners’ Life Certificate is an official document that confirms a senior citizen’s senior citizen status. It is a special document that allows the person to properly utilize the services and schemes offered by the government.
Pensioners Life Certificate may contain the following information:
Date of Birth: The date of birth of the pensioner is shown.
Passport size photo: Pensioner’s photograph is included.
Name and Address: Contains the full name of the pensioner and his/her permanent or permanent address.
Information about schemes and facilities provided by the government: This may include what types of government schemes and facilities the pensioner is availing.
Information about income and various attached certificates: Shows information about the income and other attached certificates of the pensioner.
Pensioners Life Certificate allows the person to use the schemes and facilities provided by the government and other organizations recognizing them as an older person.
Job Loss Insurance: There is a phase of layoffs going on in companies all over the world. According to a report today, education technology company Byju may lay off 3,500 employees in the current financial year. According to one of the sources, due to the sudden surge in online education, Byju (BYJU’s) had hired more people during the Covid-19 global pandemic, but now the demand has reduced due to which the company needs to make changes. However, the company has not fired anyone yet. A similar situation persists in other sectors including IT. But, you do not need to worry about this. Job Loss Insurance Cover (Job Loss Insurance Cover) can give great relief in such a situation. There are many such linked insurance and subscriptions available in the market. You can also add this as an additional benefit i.e. rider along with term insurance or any other insurance. While taking job loss insurance, customers must be careful about the terms and conditions. Every insurance company has different conditions related to it.
What things should be kept in mind while taking job insurance
In job loss insurance cover, financial security is provided to the insured in case of loss of job as per the policy terms. In most insurance, the policyholder is provided financial assistance for a certain period. Due to this, they do not have to face financial problems for some time. At the same time, there are many subscriptions which even help the insurance holder in finding a job. But, it is important to keep many things in mind before buying job insurance. Insurance has its own separate terms and conditions. You also get cover under job insurance cover even if you are temporarily laid off. Some companies do not provide insurance to those employed under contract. Whereas, it does not provide benefits in case of loss of job due to some fraud, corruption or other wrongdoings. In such a situation, it is important to read all the rules carefully.
What is the eligibility to buy job insurance?
You are a full-time or permanent employee in a company.
Not engaged in part-time, freelance, contract or any other similar nature of work
Operating within the territory and jurisdiction of the Republic of India
Meeting the insurance requirements of the company and credit rating
The applicant’s company should be registered. This facility is not available for self-employed people.
What is covered under this insurance plan?
Under this, the economic cycle of the insured is maintained.
Helping the insured find a job
change in employer’s work
Help in case of loss of job due to surplus labor
Help to the insured in reducing losses in case of job loss
In case of mergers and acquisitions
Are there any eligibility criteria to avail the benefits?
There is a waiting period of 90 days from the date of purchase of subscription during which no benefits can be availed
You must have completed at least 180 days with the company when requesting benefits
How to get the benefit of salary cover?
You should keep your membership document that you receive after purchasing the plan safe. To apply for salary cover, a dismissal letter is first required. Apart from this, in case of retrenchment, it has to be informed to the insurance company. The email related to this will also have to be given to the insurance company. The email will also require an independent confirmation from your HR. Apart from this, dismissal letter, latest 3 months salary slip, joining or appointment letter, any other document like PF details will be required. After this, after successful verification by the insurance company, you will start getting financial help. You will receive salary cover for a maximum period of 90 days. In the meantime you will have to find a job for yourself. The amount of cover will be credited to the account every thirty days of unemployment.
what is insurance
Insurance is a financial protection plan consisting of a financial structure designed to protect a person or property against unexpected events such as accident, disaster, illness or death. Insurance provides a means to protect against economic and financial losses associated with the consequences of loss of life or property.
China Recession: After Covid, the effect of increased inflation and economic recession in China is being seen on the world. However, China has controlled inflation in its country to a great extent. Along with this, it is also trying its best to come out of the economic recession. According to the latest report, China’s factories have gained momentum and retail sales have also increased in August. The report released by the government on Friday indicated that the economy may gradually recover from the situation after the global pandemic. However, despite busy activity in restaurants and shops, the data showed continued weakness across all key property sectors. Real estate developers are struggling to repay loans due to sluggish demand. Real estate investment declined by 8.8 percent on an annual basis in August. The decline has been increasing continuously since the beginning of the year. To reduce the burden on banks, the People’s Bank of China or the central bank said late Thursday that the reserve requirement for most lenders will be reduced by 0.25 percentage points by Friday.
Retail sales in China increased 4.6 percent year-on-year in August
According to the central bank, this will make more money available for lending to strengthen the foundation of economic recovery and maintain appropriate and adequate liquidity. According to the report released on Friday, retail sales in August increased by 4.6 percent on an annual basis, auto sales increased by 5.1 percent. There was a slight increase of 2.5 percent in retail sales in July. Industrial production grew at an annual pace of 4.5 percent, the fastest increase since April. It had increased by more than 3.7 percent in July. Julian Evans-Pritchard of Capital Economics said in the report that the trends in August were slightly better than expected. China’s economy grew 0.8 percent in the April-June quarter compared to the previous quarter.
What will be the impact on India?
After Covid, the whole world is looking at India as a big market and manufacturing hub. Due to this, in recent times almost big companies of the world have expressed their desire to establish their manufacturing base in India. However, at present China’s dominance in the manufacturing and export sectors is much greater than India’s. But, after coming out of the recession, China will make every effort to return to its previous situation. For this, the Central Bank of China has already started working on the strategy of providing loans etc. to the construction sector of its country.
What is India’s preparation?
India is making full preparations to compete with China. The historic India-West Asia-Europe Economic Corridor was announced on the first day of the recently held G-20 summit. India, America, UAE, Saudi Arabia, France, Italy, Germany and European Union will participate in it. Through this corridor, India, West Asia and Europe will now be directly connected through rail and port. With its construction, trade between India and Europe will increase by about 40%. It is being considered as the answer to China’s Belt and Road Initiative (BRI) corridor. This corridor was announced by Prime Minister Narendra Modi along with US President Joe Biden, Saudi Prince Mohammed bin Salman and European Union leaders. On this occasion, PM Modi said that today we have reached a historic partnership. In the coming time, it will become an effective medium for economic integration of India, West Asia and Europe. At the same time, Biden said that America will invest in a new rail line from Angola towards the Indian Ocean. This will create jobs and increase food security.
India is becoming an economic power: Aghi
Mukesh Aghi, President of the US-India Strategic and Partnership Forum (USISPF) said that India is becoming an economic power. Currently the Indian economy is worth 4,000 billion dollars and in the next two years it will be 5,000 billion dollars. He said that the success of the G20 summit also reflects the leadership of Prime Minister Modi.