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Global agencies’ faith in India is driven by strong democracy: PM Modi

(ANI) Indian Prime Minister Narendra Modi says that “optimism” about the Indian economy expressed by various global agencies is driven by the country’s “strong democracy, young demography and political stability”.
Addressing the inaugural session of the Madhya Pradesh Global Investors’ Summit in Indore, Modi said the state’s role will be crucial in the making of a developed India.
Citing observations of several global agencies, such as the International Monetary Fund (IMF) and the World Bank, Modi said institutions and credible voices that track the global economy have shown unprecedented confidence in India.
“This optimism for India is driven by a strong democracy, young demography and political stability. Due to these, India is taking decisions that boost the ease of living and ease of doing business. Even during a once-in-a-century crisis, we took the path of reforms. India has been on the path of ‘reform, transform and perform’ since 2014,” he said.
Modi pointed out that the IMF sees India as a “bright spot” in the global economy, while the World Bank says the country is in a better position to deal with global headwinds than many other countries. “This is because of India’s strong macroeconomic fundamentals,” he added.In its World Economic Outlook released last October, the IMF projected a growth rate of 6.8 per cent in 2022 as compared to 8.7 per cent in 2021 for India. Modi said that the optimism is shared by global investors as well.
“Even your [delegates] presence among us reflects this sentiment,” he said.
Business leaders who were present at the inaugural session include Tata Sons chairperson N Chandrasekaran, Lulu Group chairman M A Yusuff Ali, and Adani Enterprises director Pranav Adani.
“The value of our ongoing projects is around Rs 27,500 crore. We are operational in the power, gas, cement, roads, agricultural processing, defence and irrigation sectors. I am delighted to announce that not only will we continue our investments in all these sectors, but we will also significantly expand our presence in MP. Our commitment to the state will see us investing in excess of Rs 60,000 crore in a wide variety of projects and sectors,” said Adani.
The PM also appealed to investors to take “maximum advantage” of the Production Linked Incentive (PLI) schemes, under which incentives worth more than Rs 2.5-lakh crore have been announced so far. Madhya Pradesh, said the PM, holds a place of uniqueness, magnificence and awareness (ajab, ghazab, sajag), playing on a popular catchphrase of state tourism.
Foreign News
Pope Francis to evict Cardinal Raymond Burke from Vatican

Pope Francis is evicting US Cardinal Raymond Burke, an outspoken critic, from his Vatican apartment and revoking his salary.
Cardinal Burke is part of a group of American conservatives who have long opposed the Pope’s plans for reforming the Catholic Church.
A Vatican source told the BBC that Pope Francis has not yet carried out his intention to evict the 75-year-old and the decision is not meant as a personal punishment, the source added. Instead, it comes from the belief that a person should not enjoy cardinal privileges while criticising the head of the church.
Still, the move is “unprecedented in the Francis era”, Christopher White, a Vatican observer who writes for the National Catholic Reporter, told the BBC. “Typically, retired cardinals continue to reside in Rome after stepping down from their positions, often remaining active in papal liturgies and ceremonial duties,” he said. “Evicting someone from their Vatican apartment sets a new precedent.”
White warned that the decision could “provoke significant backlash” and deepen divides between the Vatican and the US church, where there is already “fragmentation”.
Cardinal Burke has yet to respond to the news and the BBC has reached out to his office for comment.
The Pope revealed his plan to act against the cardinal at a meeting with heads of Vatican offices last week. His frustration with US detractors who take a more traditional or conservative view on several issues appears to be coming to a boil.
Earlier this month, he fired Joseph Strickland, a conservative Texas bishop who had blasted his attempts to move the church to more liberal positions on abortion, transgender rights and same-sex marriage. The removal followed a church investigation into governance of the diocese.
A few months before, the Pope told members of the Jesuit religious order in Portugal that there was “a very strong, organised, reactionary attitude in the US church”, which he called “backward”, according to the Guardian.
Tensions with Cardinal Burke, who was appointed by Pope Benedict XVI, have been simmering for nearly a decade, with the American prelate openly criticising Pope Francis over both social and liturgical issues.
“Cardinal Burke’s situation seems to stem from his gradual alienation from the Pope,” said White. “It appears the Pope perceives Burke as fostering a cult of personality, centred around traditionalism or regressive ideals. This action seems aimed at limiting Burke’s influence by severing his ties to Rome.”

Most recently, the cardinal held a conference called The Synodal Babel in Rome on the eve of the Pope’s synod, or meeting of bishops, last month.
He also joined fellow conservatives in publishing a “declaration of truths” in 2019 that described the Catholic church as disoriented and confused under Pope Francis, saying that it had moved away from core teachings on divorce, contraception, homosexuality and gender. Notably, he disagreed with the Pope promoting Covid vaccines.
Within church politics, he and Pope Francis were at odds over the firing of the head of the Knights of Malta after the order’s charity branch was found to have distributed condoms in Myanmar.
The Pope, in turn, has demoted Cardinal Burke within the church hierarchy or moved him to posts with less influence over the years.
Michael Matt, a columnist for the right-wing Catholic newspaper The Remnant, wrote that the most recent action taken against Cardinal Burke showed that Pope Francis was “cancelling faithful prelates who offer hierarchical cover to pro-life, pro-family, pro-tradition hardliners”. He accused the Pope of putting critics into “forced isolation”.
(BBC)
Foreign News
Former US Secretary of State Henry Kissinger dies aged 100

Former US Secretary of State Henry Kissinger has died at the age 100.
He served as America’s top diplomat and national security adviser during the Nixon and Ford administrations.
In a statement, Kissinger Associates, a political consulting firm he founded, said the German-born former diplomat died at his home in Connecticut but did not give a cause of death.
During his decades long career, Mr Kissinger played a key, and sometimes controversial, role in US foreign and security policy.
Born in Germany in 1973, Kissinger first came to the US in 1938 when his family fled Nazi Germany. He became a US citizen in 1943 and went on to serve three years in the US Army and later in the Counter Intelligence Corps. After earning bachelor’s, master’s, and PhD degrees, he taught international relations at Harvard.
In 1969, then-President Richard Nixon appointed him National Security Adviser, a position which gave him enormous influence over US foreign policy in two administrations.
(BBC)
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Rupees 1,500 million allocated for ‘Greater Kandy Urban Development Program’ – State Minister for Provincial Councils and Local Government

State Minister for Provincial Council and Local Government Janaka Wakkambura participating in a Press Briefing held at the Presidential Media Centre (PMC) on Wednesday (29) under the theme ‘Collective Path to a Stable Country’, announced that President Ranil Wickremesinghe has allocated Rs. 1,500 million for the “Greater Kandy Urban Development Program” in this year’s budget and that part of the allocation would to be utilized to develop the approach roads to Kandy City.
He also announced that the President had allocated Rs. 1,000 million to develop tourism by enhancing facilities through the involvement of local government bodies.
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