United Nations has lowered India’s economic growth forecast for 2013 to 4.8 per cent while warning that emerging markets should be prepared to deal with the impact of US Federal Reserve’s quantitative easing programmes
India’s economy is forecast to grow at 4.8 per cent in 2013, down 1.3 per cent from its earlier projection, the UN’s World Economic Situation and Prospects 2014 report said.
Similarly, it has lowered the growth projection for 2014 to 5.3 per cent, down 1.2 per cent from earlier forecast. The UN sees India to grow by 5.7 per cent in 2015.
India’s growth in the first half of 2013-14 stood at 4.6 per cent. To achieve 5 per cent growth in this financial year, the economy has to expand by 5.4 per cent in the second half.
Further, the UN report said the global economy was expected to grow at a pace of 3 per cent in 2014.
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Pakistan on Thursday appointed career diplomat Abdul Basit as its new High Commissioner to India.
Mr. Basit, 55, was earlier tipped to take over as Foreign Secretary but the government recently made several changes in proposed appointments.
The government initially zeroed in on Syed Ibne Abbas as the new envoy to New Delhi but changed its mind as officials felt he was too junior for the crucial posting.
Though the government decided on Mr. Basit, a former Foreign Office spokesman, nearly 10 days ago, a formal notification was issued only on Thursday, official sources said.
Mr. Basit will take over in New Delhi from former Foreign Secretary Salman Bashir at a time when Prime Minister Nawaz Sharif is pushing for better ties with India.
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The contract is to supply components and services for the 1000 MW Neyveli New Thermal Power Project (NNTPP) of Neyveli Lignite Corporation located in Tamil Nadu.
The Alstom as per the scope of the contract will co-operate with BHEL in conceptualising, designing, engineering and supplying two tower boilers, the complete lignite milling and firing equipment, and critical components.
The equipment will be engineered and manufactured at the facility of Alstom in Stuttgart (Germany) as well as in India at the Durgapur and Shahabad facilities.
Alstom is a global leader in the world of power generation, power transmission and rail infrastructure. It has set a benchmark for innovative and environmentally friendly technologies.
Alstom builds the fastest train and the highest capacity automated metro in the world. It also provides turnkey integrated power plant solutions and associated services for a wide variety of energy sources, including hydro, nuclear, gas, coal and wind.
It also offers a wide range of solutions for power transmission, with a focus on smart grids.
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This was done by India to boost her diplomatic immunity. Earlier, Devyani Khobragade was charged with criminal offences by US.
Devyani, the IFS officer was transferred to the post of the deputy consul-general in New York. The Permanent Mission of India to the United Nations is located in New York.
She was moved to UN because of the fear that she might be detained again, as she was arrested in the second week of December 2013 by US. She will have a complete diplomatic immunity as an official of UN, which was not available to her as an official consulate.
At present, India wants the US to apologize and drop the criminal charges against Devyani Khobragade and allow her to return home.
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Adviser, Shivshankar Menon to express his regret over the episode.
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The award committee, comprising BCCI president N. Srinivasan, Patel, and senior journalist Ayaz Memon, in a meeting here earlier in the day, unanimously nominated Kapil for the honour.
The award includes a trophy, a citation, and a cheque for Rs. 25 lakh, and will be presented at the BCCI awards ceremony for the year 2012-13.
Kapil, who led India to its first World Cup victory in 1983, is one of the greatest cricketers of all time.
Along with Ian Botham, Imran Khan, and Richard Hadlee, Kapil formed a formidable ensemble of all-rounders in the 1980s.
He was the first player to complete the ‘double’ of 5,000 runs and 400 wickets in Tests.
Between 1978 and 1994, Kapil represented India in 131 Tests and picked up 434 wickets. The ‘Haryana Hurricane’ also scored 5,248 runs, including eight centuries.
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