VIF Information Alerts - 8th August 2018

Strong Indian economy continues to lead global growth: IMF

Published: The Tribune
08 Aug 2018

India is a source of growth for the global economy for the next few decades and it could be what China was for the world economy, the IMF said on Wednesday, as it suggested the country to take steps towards more structural reforms.

“India now contributes, in purchasing power parity measures, 15 per cent of the growth in the global economy, which is substantial,” Ranil Salgado, International Monetary Fund’s mission chief for India, told PTI. This is next to only China and the US, he said.Click here to read... [2]

China not conducting any mining activity in Arunachal Pradesh: India

Published: The Economic Times
08 Aug 2018

India has clarified that China is not conducting any mining activity in Arunachal Pradesh but reiterated strongly that China's claim on 90,000 sq km in Arunachal Pradesh is baseless and that this has been raised at the highest level in Beijing. The clarification on reported mining activity by China in Arunachal Pradesh was recently submitted by MEA in Rajya Sabha.

"No such activity has been carried out by China inside the territory of the Indian state of Arunachal Pradesh," MoS External Affairs V K Singh said in Rajya Sabha recently.Click here to read... [3]

CAG questions readiness of IAF bases, says Boeings not effective

Published: The Tribune
08 Aug 2018

In separate reports tabled in Parliament on Tuesday, the Comptroller and Auditor General has raised serious questions on the operational readiness of the IAF bases, saying US’ Boeing-supplied maritime reconnaissance aircraft don’t perform as promised.

One of the reports said: “Audit found inadequacies in the support facilities at IAF airfields adversely affecting their readiness”. The report identified facilities like modernisation of communication equipment, surveillance of plane while in air, safe landing and take-off, restoration of runaway after (enemy) bombing, refuelling of planes and handling of armaments to be loaded. There was a shortfall in the equipment to be held by the airfields which was mainly due to delay in procurement.Click here to read... [4]

Pakistani troops to receive training at Russian military institutes

Published: The Economic Times
08 Aug 2018

Pakistan and Russia have signed an agreement to allow Pakistani troops to receive training at Russian military training institutes, a move aimed at boosting their bilateral defence ties. The agreement was signed yesterday at the conclusion of the first meeting of Russia-Pakistan Joint Military Consultative Committee (JMCC), according to Pakistan's defence ministry.Click here to read... [5]

Trump warns world against doing business with Iran

Published: The Hindu
08 Aug 2018

U.S. President Donald Trump warned countries against doing business with Iran on Tuesday as he hailed the “most biting sanctions ever imposed”, triggering a mix of anger, fear and defiance in Tehran. “The Iran sanctions have officially been cast. These are the most biting sanctions ever imposed, and in November they ratchet up to yet another level,” Mr. Trump wrote in an early morning tweet.Click here to read... [6]

US cuts defence aid to Pakistan from $1 billion to $150 million

Published: Business Today
06 Aug 2018

Troubles seem to be mounting for Pakistan as the US has decided to cut its financial aid by over 75 per cent to $150 million from $1 billion. Amid Pakistan's poor economic conditions, the US decision could deeply hurt its shaking economy. Under the defence spending bill passed by the US Senate, the US could cut aid to Pakistan as the country is no longer required to take actions against terrorist groups inside the country. Pakistan's total public debt stands at $199 billion, of which $134 billion is domestic debt while the rest is external liabilities.Click here to read... [7]

India not to join US-led counter to China’s BRI

Published: The Economic Times
06 Aug 2018

India has stayed away from a joint initiative launched by the United States, Japan and Australia to fund infrastructure projects to counterbalance China’s Belt and Road Initiative (BRI) in the Indo-Pacific region.

The decision not to join the US-led trilateral initiative, launched on July 30, is in keeping with India’s emphasis on multipolarity in the Indo-Pacific region and non-bloc security architecture, said people aware of the matter.Click here to read... [8]