News brief: Big stories of the day
Piyush Goyal
Budget 2019: India increases significant contribution to Maldives; BIMSTEC to get similar funds as SAARC
Theinterim Budget saw Indiaincrease its contribution substantially to the Maldives while bringing support to SAARC and BIMSTEC Secretariat at the same level.
An outlay of Rs 3.05 lakh crore was set aside for thedefence Budget for 2019-20which was a hike of around Rs 20,000 crore compared to allocation of Rs 2.85 lakh crore in the current fiscal.
After the government presented its final Budget,PMModiwhile addressing the nation said the Budget will bring positive changes in the country. "Various government schemes will help the marginalised section of society," the prime minister asserted, adding,"it will bring down the poverty level in the country."
Germany said on Friday thatRussia had "de facto invalidated"a landmark cold war missile reduction treaty which the US is poised to abandon, with Europe anxious at the prospect of a new arms race.
China's foreign ministry spokesman Geng Shuang said the country highly appreciates the efforts made by European countries to uphold the Iran nuclear deal and supports the establishment of the new trade mechanism for Iran.