INDIA & WORLD
India – Australia Signed Social Security Agreement
India has signed a pact with Australia under which the employees deputed to Australia from India and viceversa need not make double social security contribution. This agreement provides the exception to the employees who have been deputed on a short term basis say less than 60 months from paying social security contribution to both the countries. With this, Australia has become the 14th country with which India has a social security agreement in force.
India – Bangladesh signed $2 billion Line of Credit
India has signed the second line of credit (LOC) agreement extending 2 billion dollars in development financing to Bangladesh for underta king various development projects. This credit line will be provided through Export Import Bank of India (Exim Bank), India’s external lending arm. It is Exim Bank’s biggest ever LOC facility given to another country. The development financing will be used in the infrastructural projects like power sector, road transportation, railways, shipping, information and communication technology (ICT) and social sector projects like health and technical education.
India At 90th Rank In Terms Of Energy Security, Access
World Economic Forum (WEF) on 2 March released the fourth edition of the Global Energy Architecture Performance Index Report 2016 (EAPI) compiling 126 countries. India has been ranked at the 90th place in a list of 126 countries on the basis of their ability to deliver secure, affordable and sustainable energy. Top 10 countries in GEAPI Report: Switzerland (1st), Norway (2nd), Sweden (3rd), France (4th), Denmark (5th), Austria (6th), Spain (7th), Colombia (8th), New Zealand (9th) and Uruguay (10th).
India-World Bank Signed Credit Agreement for MPHEQIP
Union Government, Madhya Pradesh government and the World Bank have signed $300 million credit agreement on 1 March for Madhya Pradesh Higher Education Quality Improvement Project (MPHEQIP). The credit will be provided by the International Development Association (IDA), World Bank’s concessionary lending arm with a maturity of 25 years, including a five-year grace period.
India To Host BRICS Friendship Cities Conclave
India is going to host BRICS Friendship Cities Conclave in Mumbai (Maharashtra), financial capital of India from April 14 to 16, 2016. It will be attended by the top Urban Policy makers and Planners from BRICS Nations viz. Brazil, Russia, India, China and South Africa. The conclave will be joint initiative of Union Ministry of External Affairs (MEA) and Government of Maharashtra. Prime Minister Narendra Modi will inaugurate the conference which will be attended by representatives of at least two cities from each of the BRICS nations.
India Ranks 118th On UN’s World Happiness Index 2016
India ranked 118th out of 157 countries on the United Nations’ World Happiness Index (WHI) 2016. It was revealed by the fourth World Happiness Report 2016 published by the Sustainabl e Development Solutions Network (SDSN), a global initiative for the UN. Key Highlights of Report Top 10 countries – Denmark (1st), Switzerland (2nd), Iceland (3rd), Norway (4th) and Finland (5th), Canada (6th), Netherlands (7th), New Zealand (8th), Australia (9th) and Sweden (10th).