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India provides Rs 7,500 crore loan assistance to Sri Lanka, which is facing a severe economic crisis

  • Sri Lanka suffered a severe economic downturn due to the Corona period crisis. The country's foreign exchange reserves are very low. The value of the Sri Lankan currency has fallen sharply against other currencies. Due to this, the country is in a severe economic crisis.
  • The prices of all essential commodities, including rice, have multiplied. Fuel and gas shortages exist. The power supply has also been severely affected. In this context, Sri Lankan Finance Minister Basil Rajapaksa has arrived in Delhi on a two-day visit. There he met Prime Minister Narendra Modi.
  • Following this, Basil Rajapaksa held consultations with Union Finance Minister Nirmala Sitharaman and External Affairs Minister S. Jaisankar.
  • It was then that a decision was taken regarding India's loan assistance to Sri Lanka. It was also agreed during this consultation to undertake various economic joint ventures for the benefit of both parties.
  • Following this, India has offered to help Sri Lanka in view of the ongoing economic crisis. It has decided to provide a loan of Rs 7,500 crore (US $ 100 crore) to the country for this.
  • This loan assistance is provided for the purchase of essential items including food and medicine. The loan agreement was signed in Delhi yesterday. The agreement has been signed by State Bank of India (SBI) and the Government of Sri Lanka.
Carolina Pilaska from Poland won the world beauty title
  • The 2021 World Beauty Contest was scheduled to take place last December. The match was postponed after some of the contestants contracted corona infection. Meanwhile, the 2021 World Beauty Contest was held in Puerto Rico, a Caribbean island nation. Carolina Bylaska, 23, from Poland, a European country, won the Miss World title.
  • Tony Ann Singh of the Caribbean island nation of Tony Ann Singh, who last won the title of Beauty of 2020, was crowned the Beauty of the Year. Sri Saini, a woman of Indian descent from the United States, won second place.
  • Olivia Ace of Cote d'Ivoire, West Africa, finished third. Manasa Varanasi, who competed for India, finished 11th.
Moody's forecast for India's growth
  • The rating agency is Moody's. Earlier, the company had forecast that the country's economic growth would be 9.5 per cent in the current fiscal. Now, it has cut it to 9.1 percent.
  • Russia's war on Ukraine has had three major consequences worldwide. Rising commodity prices, financial and business turmoil, and lack of confidence due to geopolitical impacts have had a major impact.
  • Next year, growth will be 5.4 percent. At the end of the current year, inflation will be 6.6 percent. For China, growth was 5.2 percent in the current year; It is expected to grow by 5.1 per cent next year.
Ukraine approves cryptocurrency
  • On March 16, President Selensky approved a bill in Ukraine to allow virtual assists. Virtual assets include the stock market and the cryptocurrency trade, so the government will no longer officially allow cryptocurrency applications in Ukraine.
  • In particular, Ukrainian officials say Ukraine has received up to 750 billion dollars ($ 100 million) in donations to fight the war since Russian forces began fighting it. As a result, bank accounts will be created for those involved in cryptocurrency trading in Ukraine in the near future.
India Trading Corporation enters into first-ever agreement with Cochin Shipbuilding Company for shipbuilding
  • The Trading Corporation of India has signed a landmark agreement with the Cochin Shipbuilding Company to build a 12,000 cubic meter capacity cruise ship. It is noteworthy that this is the company's first production plan in India.
  • The agreement was signed by Central Shipping and Water Transport Minister Sarpanch Sona in the presence of Internet Minister Sripath Nayak and Ports and Shipping Secretary Dr Sanjeev Ranjan.
Arctic Policy of India - Union Minister Dr. Jitendra Singh released
  • Dr. Jitendra Singh, Union Minister of State for Science and Technology, New Delhi, unveiled India's Arctic Policy on 'India and the Arctic: Creating Cooperation for Sustainable Development'.
  • Hundreds of research papers have been filed since 2007. The Arctic Council is attended by 13 countries, including India, Germany, France and Japan. In 2014 and 2016, India set up laboratories in the Arctic at Kongsnordon and Nee Alessand. Until 2022, India undertook 13 adventure voyages in the Arctic.
  • India's Arctic policy will lead to a partnership for sustainable development. It will enhance India's scientific research and cooperation, climate and environmental protection, economic and human development, transport and connectivity, governance and international cooperation, and national infrastructure in the Arctic.

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