Ø Prime Minister Narendra Modi expressed India’s
commitment and assistance to Nepal’s development and promised to take the two
countries’ relations to new heights. he announced a $1-billion line of credit for Nepal’s
infrastructure development. Mr. Modi
also promised to help Nepal in the field of hydropower, infrastructure, space
technology and agriculture. He assured that the work on the Pancheshwar Multipurpose Project would begin in a year. After years of
negotiations, work on this joint venture project has not begun. Nepal could
prosper by selling electricity to India. A day after Nepal Prime
Minister Sushil Koirala broke protocol to greet Prime Minister Narendra Modi
personally at the airport here, priests at the Pashupatinath Temple are
planning a break from tradition to accord Mr. Modi “royal status”
during his visit.
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| Pashupatinath Temple |
Ø Driven substantially by the higher education
sector, real estate deals and mining income, India’s black economy could now be
nearly three-quarters the size of its reported Gross Domestic Product (GDP).
These are among the findings of a confidential report commissioned by the
government. Since there were no “reliable” estimates of black money
generated in India and held within and outside the country, the UPA government
commissioned the National Institute of Public Finance and Policy (NIPFP) to
estimate the black money in India and held overseas by Indians. The
Special Investigation Team on black money, constituted by the Narendra Modi
government on May 27 in compliance with a Supreme Court directive, is studying
the report.
Ø Two Indian sports officials, one being Indian
Olympic Association secretary-general Rajeev Mehta, were arrested by Police Scotland.
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