By any account, $1 trillion seems huge. That's the scale of budget shortfalls facing Chinese provinces, reducing their fiscal firepower to fund infrastructure spending and tax cuts, and raising risks for the world's second-biggest economy in 2023.

By any account, $1 trillion seems huge. That's the scale of budget shortfalls facing Chinese provinces, reducing their fiscal firepower to fund infrastructure spending and tax cuts, and raising risks for the world's second-biggest economy in 2023. The timing couldn't be worse for policymakers in Beijing, as the economy wobbles under the weight of global recession risks, surging commodity costs, rising geopolitical tension and widespread COVID-19 lockdowns at home, spoiling the backdrop of a once-in-five-years congress of the ruling Communist Party that got underway on Sunday. Local governments have long been a pump-primer of China's growth, but declining state land sales revenue in the wake of an ongoing crackdown on debt in the sector has severely eroded their financial power; a situation exacerbated this year by China's feeble growth, weak tax income and crippling COVID restrictions. Local governments must also make debt payments in coming months, portending more financial pain and limiting their ability to meet Beijing's requests to boost spending. Already, many of them have resorted to cutting salaries, reducing headcounts, lowering subsidies and even imposing disproportionately hefty fines to meet budget shortfalls. In the first eight months, China's 31 provincial-level regions reported a gap between general public revenue and expenditure totalling 6.74 trillion yuan ($948 billion). That's the widest for the period since at least 2012, Reuters calculations from local government data in the past decade showed, with the populous provinces of Sichuan, Henan, Hunan and Guangdong suffering the largest shortfalls. In the same period, government land sales, counted separately, tumbled 28.5 per cent year-on-year to $467 billion (3.37 trillion yuan), adding urgency to the need to restore the financial health of indebted real estate firms. "With the slower growth this year, we expect fiscal deficits for regional and local governments will remain substantial, reflecting the property slowdown and lingering effects of the coronavirus shock," said Jennifer A. Wong, an analyst at Moody's, which expects 2022 economic growth to slow to 3.5 per cent from 8.1 per cent in 2021. In the past, shortfalls were largely offset by transfer payments from the central government and carryover funds from previous years, but analysts say cooling economic growth may limit any such help this time around. Policymakers will also be wary of picking up the fiscal slack with large-scale monetary stimulus as a wave of global interest rate hikes to rein in red-hot inflation has sent US bond yields soaring, widening the yield gap between US and Chinese debt. Debt stress Treasury bond quotas could be increased so that some of them could be transferred to local governments to ease their fiscal stress, said Luo Zhiheng, chief macroeconomic analyst at Yuekai Securities. However, they face a squeeze on their already tight cash flows as maturing local government debts peak in 2023 for the 2021-2025 period, Luo warned. Combined with some maturing debts of local government financing vehicles (LGFVs) - investment companies that build infrastructure projects - this year and the next will be most stressful for local governments, he said. Around $52 billion (380 billion yuan) of onshore LGFV bonds from economically weaker provinces are due for repayment in the next 12 months, according to a Moody's report in August. Such fiscal constraints, together with weakening exports, doubts over a consumption revival and external uncertainties including the Ukraine war, would add pressure on policymakers to shore up the economy in 2023, said Nie Wen, a Shanghai-based economist at Hwabao Trust. Nie is forecasting GDP growth of 5.5 per cent next year, assuming few or no COVID-19 disruptions, better than the broad 3.2 per cent consensus for this year but still lagging behind the pre-pandemic 6 per cent pace in 2019. 'Heavy burden' Highlighting the pressure on finances, the provinces of Shandong, Shanxi, Henan, Zhejiang as well as the municipality of Tianjin said they had all shed budgeted headcounts at government agencies in recent months. Moreover, some grass-roots market regulators have even imposed excessively high fines on small businesses to boost revenue. According to financial media outlet Yicai, local governments' revenue from fines and confiscations jumped 10.4 per cent in January-July year-on-year. Additional spending on containing COVID outbreaks has also strained local government finances. The fiscal stress is cutting into some households' income, a red flag for consumption and broader growth. "My annual income was slashed by 27 per cent to around 80,000 yuan last year, due to the very heavy local fiscal burden," an employee surnamed Gao at a government agency in Chongqing told Reuters. "Our leaders were very anxious these days as they said the current fiscal allocation is not enough at all. As there is no way out, they have had to ask the local government fiscal department for money." WATCH WION LIVE HERE:

China faces a shortfall of $1 trillion to fund infrastructure & growth projects

A major part of Puerto Rico was left without power or proper drinking water in the aftermath of Hurricane Fiona. The hurricane, that struck the island on Sunday, caused a lot of damage to the infrastructure as major roads were left submerged and a number of bridges collapsed. While the storm did lose its intensity over time, the people in the emergency shelters all around Puerto Rico are still reeling from the impact.

Also read |&nbsp;<a href="https://www.wionews.com/world/ukraine-war-us-says-russian-military-company-wagner-trying-to-recruit-over-1500-felons-517884" hreflang="en">Ukraine war: US says Russian military company Wagner trying to recruit felons</a>

According to AFP, around 800,000 homes in Puerto Rico have no access to clean drinking way after the filtration system in the island was severely impacted by the blackout. Some are still operational because of their use of solar generators but the number is not enough for the population.

There were also reports of patients suffering in hospitals due to the lack of power as the authorities confirmed the death of a man in a hospital in Arecibo. As a precaution, critically ill patients were mostly shifted from the main cancer hospital in San Juan after a reported generator failure.

Also read |&nbsp;<a href="https://www.wionews.com/world/queen-elizabeth-iis-crown-removed-from-her-coffin-formally-ending-of-her-reign-517883">Queen Elizabeth's crown removed from her coffin, formally ending of her reign</a>

As of Monday, the officials confirmed that only 10 per cent of households were able to get their electricity back after the storm as displeasure grew towards Luma – the main electricity provider.

The Guardian reported that Fiona is the first major hurricane of this year but the infrastructure in Puerto Rico seemed extremely underprepared to deal with the catastrophe. United States President Joe Biden declared it a federal emergency, but the arrival of resources will be a time-taking affair.

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A major part of Puerto Rico was left without power or proper drinking water in the aftermath of Hurricane Fiona. The hurricane, that struck the island on Sunday, caused a lot of damage to the infrastructure as major roads were left submerged and a number of bridges collapsed.

A major part of Puerto Rico was left without power or proper drinking water in the aftermath of Hurricane Fiona. The hurricane, that struck the island on Sunday, caused a lot of damage to the infrastructure as major roads were left submerged and a number of bridges collapsed. While the storm did lose its intensity over time, the people in the emergency shelters all around Puerto Rico are still reeling from the impact. Also read | Ukraine war: US says Russian military company Wagner trying to recruit felons According to AFP, around 800,000 homes in Puerto Rico have no access to clean drinking way after the filtration system in the island was severely impacted by the blackout. Some are still operational because of their use of solar generators but the number is not enough for the population. There were also reports of patients suffering in hospitals due to the lack of power as the authorities confirmed the death of a man in a hospital in Arecibo. As a precaution, critically ill patients were mostly shifted from the main cancer hospital in San Juan after a reported generator failure. Also read | Queen Elizabeth's crown removed from her coffin, formally ending of her reign As of Monday, the officials confirmed that only 10 per cent of households were able to get their electricity back after the storm as displeasure grew towards Luma – the main electricity provider. The Guardian reported that Fiona is the first major hurricane of this year but the infrastructure in Puerto Rico seemed extremely underprepared to deal with the catastrophe. United States President Joe Biden declared it a federal emergency, but the arrival of resources will be a time-taking affair.

Puerto Rico suffering from lack of power and clean water after Hurricane Fiona

China has gained a major foothold in oil-rich Iraq, shaking up Western domination in fields from energy to construction, even as some warn that infrastructure projects could leave Baghdad in debt. Ghadi Francis tells you more on The West Asia Post.

The West Asia Post | China cements influence in Iraq through oil & infrastructure

In a major boost to strengthen ties between India and Maldives, the ground-breaking ceremony of the Maldives biggest infrastructure project will be held today in New Delhi. Maldives President is in New Delhi on a four-day visit.

Male Connectivity Project: India-Maldives mega infrastructure push

Secretary-General Antonio Guterres has accepted the resignation of the head of a United Nations agency that was under investigation for questionable investments.

Grete Faremo, a former Norwegian minister of justice and public security, had been undersecretary-general and executive director of the UN Office for Project Services since August 2014.

The office, headquartered in Copenhagen, says its mission is to provide infrastructure, procurement and project management services for a more sustainable world.

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Faremo's resignation was accepted on Sunday, the day the New York Times reported that the agency made a baffling series of financial decisions&nbsp;that purportedly led to $25 million in losses.

The Times report followed an April 16 article in Devex, the media platform for the global development community by Brussels-based writer Ilya Gridneff, titled: What went wrong with UNOPS' ambitious impact-investing initiative.

Watch |&nbsp;Gravitas: US Federal Reserve hikes interest rates

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That article said the investigation focused on a series of loans from the agency to a Singapore-based company that received tens of millions of dollars to develop plans to build more than 1 million affordable homes in six countries. Today, the entire project is stalled, UNOPS is owed tens of millions of dollars, and no houses have been built, it said.

Devex quoted an unidentified spokesperson for the agency as saying that steps are being taken to recover all outstanding amounts regardless of the source of activities.

WATCH WION LIVE HERE:

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The UN's internal watchdog had been investigating the transactions.

UN spokesman Stephane Dujarric said Faremo's resignation was effective on Sunday. He said Jens Wandel of Denmark, a former special adviser to the secretary-general on reforms, will serve as acting head of the agency while a new executive director is recruited.

Also read |&nbsp;<a href="https://www.wionews.com/world/nearly-25-million-tonnes-of-grain-stuck-in-ukraine-un-food-agency-476870">Nearly 25 million tonnes of grain stuck in Ukraine: UN food agency</a>

The secretary-general is grateful for Faremo's commitment and dedicated service to the organisation, Dujarric said in a statement.

He would not comment beyond the statement when asked whether Guterres asked for Faremo's resignation.

Secretary-General Antonio Guterres has accepted the resignation of the head of a United Nations agency that was under investigation for questionable investments.

Secretary-General Antonio Guterres has accepted the resignation of the head of a United Nations agency that was under investigation for questionable investments. Grete Faremo, a former Norwegian minister of justice and public security, had been undersecretary-general and executive director of the UN Office for Project Services since August 2014. The office, headquartered in Copenhagen, says its mission is to provide infrastructure, procurement and project management services for a more sustainable world. Also read | 'Darker side' of Mother Teresa: A documentary claims she covered up the worst excesses of church Faremo's resignation was accepted on Sunday, the day the New York Times reported that the agency made a baffling series of financial decisions that purportedly led to $25 million in losses. The Times report followed an April 16 article in Devex, the media platform for the global development community by Brussels-based writer Ilya Gridneff, titled: What went wrong with UNOPS' ambitious impact-investing initiative. Watch | Gravitas: US Federal Reserve hikes interest rates That article said the investigation focused on a series of loans from the agency to a Singapore-based company that received tens of millions of dollars to develop plans to build more than 1 million affordable homes in six countries. Today, the entire project is stalled, UNOPS is owed tens of millions of dollars, and no houses have been built, it said. Devex quoted an unidentified spokesperson for the agency as saying that steps are being taken to recover all outstanding amounts regardless of the source of activities. WATCH WION LIVE HERE: The UN's internal watchdog had been investigating the transactions. UN spokesman Stephane Dujarric said Faremo's resignation was effective on Sunday. He said Jens Wandel of Denmark, a former special adviser to the secretary-general on reforms, will serve as acting head of the agency while a new executive director is recruited. Also read | Nearly 25 million tonnes of grain stuck in Ukraine: UN food agency The secretary-general is grateful for Faremo's commitment and dedicated service to the organisation, Dujarric said in a statement. He would not comment beyond the statement when asked whether Guterres asked for Faremo's resignation.

UN agency chief resigns after probe into its investments

Advanced hackers have shown they can take control of an area of devices that help run power station and manufacturing plants. US cyber security and other government agencies issued a joint advice advisory saying the hacker's malicious software could affect the devices.

US claims advanced hackers have shown ability to hijack critical infrastructure

Russian forces have destroyed at least $100 billion worth infrastructure, buildings and other assets in the conflict till now, said Ukraine's top government economic adviser Oleg Ustenko on Thursday. &nbsp;&nbsp;

At an online event, which was hosted by the Peterson Institute for International Economics, Ustenko, chief economic adviser to Ukrainian President Volodymyr Zelenskiy, said the invasion has caused 50% Ukrainian businesses to shut down completely. The rest are operating at below capacity. &nbsp;

Also Read:&nbsp;<a href="https://www.wionews.com/world/un-security-council-to-discuss-russian-claim-of-us-backed-biowarfare-labs-in-ukraine-461110">UNSC to discuss Russian claim of US-backed biowarfare labs in Ukraine</a>

The damage estimate is "very approximate" and just includes bridges, hospitals, roads, equipment and other assets, he said. &nbsp;&nbsp;

For financing the reconstruction effort in the country, Ustenko said some part of it can come from Russian assets frozen around the world. It can include Russian central bank assets held outside the country and immobilised by Western sanctions. &nbsp;&nbsp;

The assets of wealthy Russian oligarchs, which have been seized, could also be transferred to a reconstruction fund, he added. &nbsp;&nbsp;

Also Read |&nbsp;<a href="https://www.wionews.com/world/us-says-ukraine-needs-surface-to-air-missiles-not-fighter-jets-to-fight-formidable-russian-air-force-461103">Ukraine needs surface-to-air missiles, not fighter jets: US</a>

Ukraine's fiscal reserves are currently at about $27.5 billion, which is down from about $30 billion before the invasion, Ustenko said. &nbsp;&nbsp;

When asked about the resilience of Ukraine's financial system and bank payment operations, Ustenko said, "Look, we are doing, I would say, OK under the current circumstances. Even in those cities surrounded by now by the Russian army...(residents) are able use their cards.” &nbsp;&nbsp;

(With inputs from agencies)&nbsp;

Russian forces have destroyed at least $100 billion worth infrastructure, buildings and other assets in the conflict till now, said Ukraine's top government economic adviser Oleg Ustenko on Thursday.

Russian forces have destroyed at least $100 billion worth infrastructure, buildings and other assets in the conflict till now, said Ukraine's top government economic adviser Oleg Ustenko on Thursday. At an online event, which was hosted by the Peterson Institute for International Economics, Ustenko, chief economic adviser to Ukrainian President Volodymyr Zelenskiy, said the invasion has caused 50% Ukrainian businesses to shut down completely. The rest are operating at below capacity. Also Read: UNSC to discuss Russian claim of US-backed biowarfare labs in Ukraine The damage estimate is "very approximate" and just includes bridges, hospitals, roads, equipment and other assets, he said. For financing the reconstruction effort in the country, Ustenko said some part of it can come from Russian assets frozen around the world. It can include Russian central bank assets held outside the country and immobilised by Western sanctions. The assets of wealthy Russian oligarchs, which have been seized, could also be transferred to a reconstruction fund, he added. Also Read | Ukraine needs surface-to-air missiles, not fighter jets: US Ukraine's fiscal reserves are currently at about $27.5 billion, which is down from about $30 billion before the invasion, Ustenko said. When asked about the resilience of Ukraine's financial system and bank payment operations, Ustenko said, "Look, we are doing, I would say, OK under the current circumstances. Even in those cities surrounded by now by the Russian army...(residents) are able use their cards.” (With inputs from agencies)

In conflict, Russian forces destroyed $100 billion worth infrastructure till now, says Ukraine's official

India is looking for a electricity-based technology for mass rapid transportation that is cost effective and such as can be made in the country, Union minister Nitin Gadkari has said.

The ministry plans to undertake the development of ropeways as an alternate transport solution in the hill and congested, urban areas.

Rope ways, cable car and particularly I'm very much clearly interested to work on the technology of light rail transport, Gadkari, the Union Minister for Road Transport &amp; Highways, said addressing a US audience here on Friday.

Also read |<a href="https://www.wionews.com/india-news/in-india-unvaccinated-people-account-for-92-of-covid-deaths-in-2022-458968">&nbsp;In India, unvaccinated people account for 92% of Covid deaths in 2022</a>

Some of the US companies have also approached him with the technology, he said in his address on Rebuilding Infrastructure for India 2.0', a part of Reimagining India 2.0 series'.

The series of dialogues a part of Silicon Valley monthly Dialogue (SVD) -- has been launched by the Foundation for India and Indian Diaspora Studies (FIIDS) on the occasion of India-at-75 Azadi Ka Amrit Mahotsav'.

We are in search of the technology, which can be cost-effective and which we can make it in India for mass rapid transport (system) on electricity, Gadkari said as he briefed Indian-Americans from Silicon Valley on the steps India is taking to bolster its physical infrastructure, in particular the transportation system.

The government, he said, is planning 11 ropeway projects to boost connectivity in Jammu and Kashmir, Uttarakhand, Himachal Pradesh, Manipur, and Sikkim.

Port connectivity projects are being implemented to enable swift movement of cargo connecting all ports and inland water waste minerals to increase the efficiency of domestic and international trade routes, he said.

Also read |&nbsp;<a href="https://www.wionews.com/india-news/iaf-to-conduct-air-exercise-at-pokharan-range-with-rafale-jaguar-sukhoi-30-458938">IAF to conduct air exercise at Pokharan range with Rafale, Jaguar &amp; Sukhoi-30</a>

As many as 65 projects with a length of 2,050 kilometers are planned for port connectivity which are in various stages of development, he said.

He said India is also developing 29 emergency landing facilities for fighter planes on national highways.They are of strategic importance from a defence perspective.

Gadkari urged US companies to come and invest in India. Technocrats like you can participate in the drive to develop the best system for India, he said, adding that India is allowing 100 per cent FDI in the road sector and there are huge opportunities for joint ventures.

US-based companies can collaborate with our research and development reports towards EV factory technology and the retrofitting industry. The government is strongly encouraging solar and the best charging mechanism for electric mobility, he said.

Watch |&nbsp;Gravitas: US debates India's non-alignment on Ukraine

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The government is working on the battery-swapping policy and standards for EV batteries, he said, calling it a huge opportunity for all the technologies as batteries swapping is a completely new sector.

Both countries have a huge pool of young and talented engineers working on the most advanced technology. I sincerely hope you will come forward and form joint ventures to realize the benefit of advanced technology in the area of construction, alternative, prevail, and agriculture practices, Gadkari said.

Responding to a question, Gadkari said he is very much confident that we will make the road infrastructure in India equal to that of USA by the end of 2024.

India is looking for a electricity-based technology for mass rapid transportation that is cost effective and such as can be made in the country, Union minister Nitin Gadkari has said.

India is looking for a electricity-based technology for mass rapid transportation that is cost effective and such as can be made in the country, Union minister Nitin Gadkari has said. The ministry plans to undertake the development of ropeways as an alternate transport solution in the hill and congested, urban areas. Rope ways, cable car and particularly I'm very much clearly interested to work on the technology of light rail transport, Gadkari, the Union Minister for Road Transport & Highways, said addressing a US audience here on Friday. Also read | In India, unvaccinated people account for 92% of Covid deaths in 2022 Some of the US companies have also approached him with the technology, he said in his address on Rebuilding Infrastructure for India 2.0', a part of Reimagining India 2.0 series'. The series of dialogues a part of Silicon Valley monthly Dialogue (SVD) -- has been launched by the Foundation for India and Indian Diaspora Studies (FIIDS) on the occasion of India-at-75 Azadi Ka Amrit Mahotsav'. We are in search of the technology, which can be cost-effective and which we can make it in India for mass rapid transport (system) on electricity, Gadkari said as he briefed Indian-Americans from Silicon Valley on the steps India is taking to bolster its physical infrastructure, in particular the transportation system. The government, he said, is planning 11 ropeway projects to boost connectivity in Jammu and Kashmir, Uttarakhand, Himachal Pradesh, Manipur, and Sikkim. Port connectivity projects are being implemented to enable swift movement of cargo connecting all ports and inland water waste minerals to increase the efficiency of domestic and international trade routes, he said. Also read | IAF to conduct air exercise at Pokharan range with Rafale, Jaguar & Sukhoi-30 As many as 65 projects with a length of 2,050 kilometers are planned for port connectivity which are in various stages of development, he said. He said India is also developing 29 emergency landing facilities for fighter planes on national highways.They are of strategic importance from a defence perspective. Gadkari urged US companies to come and invest in India. Technocrats like you can participate in the drive to develop the best system for India, he said, adding that India is allowing 100 per cent FDI in the road sector and there are huge opportunities for joint ventures. US-based companies can collaborate with our research and development reports towards EV factory technology and the retrofitting industry. The government is strongly encouraging solar and the best charging mechanism for electric mobility, he said. Watch | Gravitas: US debates India's non-alignment on Ukraine The government is working on the battery-swapping policy and standards for EV batteries, he said, calling it a huge opportunity for all the technologies as batteries swapping is a completely new sector. Both countries have a huge pool of young and talented engineers working on the most advanced technology. I sincerely hope you will come forward and form joint ventures to realize the benefit of advanced technology in the area of construction, alternative, prevail, and agriculture practices, Gadkari said. Responding to a question, Gadkari said he is very much confident that we will make the road infrastructure in India equal to that of USA by the end of 2024.

India looking for mass EV tech to build in India: Transport minister Gadkari

Nepal's ruling coalition on Sunday ratified the much-debated Millennium Challenge Corporation Compact. The compact was endorsed by the ruling coalition parties amid obstructions by the main opposition party, CPN-UML, in the lower house of the parliament.

Following this development, the implementation of the compact will now take place. Finance Minister Janardan Sharma, on behalf of the government, presented the proposal for endorsement. Speaker of the House, Agni Prasad Sapkota, after rounds of deliberation, announced ratification of the agreement.

The ratification came after communist parties in the coalition government agreed to endorse the compact. Their support was won by including 'interpretive declaration' to the proposal. The proposal was later passed by the Council of Ministers.

Prime Minister Sher Bahadur Deuba has not only managed to stick to the deadline of February 28 given to the United States but also saved the coalition from breaking apart.

“Due to patience and tactful leadership of Prime Minister Sher B Deuba, he is able to obtain broader consensus to accept the developmental grant from US gov under MCC. It is passed by parliament with explanatory notes. It is now the duty of MCA Nepal to complete this project in time,” Prakash S Mahat, Nepali Congress Spokesperson said in a tweet.&nbsp;

While Nepali Congress was firm on its stance to ratify the agreement, its partners in government - CPN-Maoist Centre, CPN- Unified Socialist, Janata Samajwadi Party, and Rashtriya Janamorcha Party - were opposed to the same.

The interpretative declaration will seek clarification on the provisions that the parties opposing the MCC compact have been saying are against the interest of the country.

The declaration also interprets that the MCC compact won’t be part of any military strategy of the United States government in the Indo-Pacific. It also specifies that Nepal’s constitution would be above the MCC.

It also has the provision that Nepal can terminate the MCC compact within 30 days if it finds it to be against interests of the country.

The interpretative declaration has basically included all those provisions on which the US had earlier issued a clarification.

US reacts

Asserting on the strong ties Nepal and America share, the United States Embassy in Nepal on Sunday said relationship with Nepal is ‘broader than one agreement’.

The embassy in a statement said the Government of Nepal signed the MCC agreement in 2017 after determining its goals to modernize Nepal’s energy and transportation sectors with the hope of helping more than 23 million Nepalis.

“The decision whether to ratify the $500 million-dollar Millennium Challenge Corporation (MCC) Nepal Compact has always rested with the Government of Nepal as a sovereign democratic nation,” the statement said.&nbsp;

Outlining on the benefits of the compact, the embassy said, “In the nearly 20 years since its inception, MCC compacts have helped alleviate poverty around the world by forming partnerships with developing countries who are committed to economic freedom, investing in their citizens, and good governance, including promoting democratic principles and combatting corruption.”

Nepal's ruling coalition on Sunday ratified the much-debated Millennium Challenge Corporation Compact. The compact was endorsed by the ruling coalition parties amid obstructions by the main opposition party, CPN-UML, in the lower house of the parliament.

Nepal's ruling coalition on Sunday ratified the much-debated Millennium Challenge Corporation Compact. The compact was endorsed by the ruling coalition parties amid obstructions by the main opposition party, CPN-UML, in the lower house of the parliament. Following this development, the implementation of the compact will now take place. Finance Minister Janardan Sharma, on behalf of the government, presented the proposal for endorsement. Speaker of the House, Agni Prasad Sapkota, after rounds of deliberation, announced ratification of the agreement. The ratification came after communist parties in the coalition government agreed to endorse the compact. Their support was won by including 'interpretive declaration' to the proposal. The proposal was later passed by the Council of Ministers. Prime Minister Sher Bahadur Deuba has not only managed to stick to the deadline of February 28 given to the United States but also saved the coalition from breaking apart. “Due to patience and tactful leadership of Prime Minister Sher B Deuba, he is able to obtain broader consensus to accept the developmental grant from US gov under MCC. It is passed by parliament with explanatory notes. It is now the duty of MCA Nepal to complete this project in time,” Prakash S Mahat, Nepali Congress Spokesperson said in a tweet. While Nepali Congress was firm on its stance to ratify the agreement, its partners in government - CPN-Maoist Centre, CPN- Unified Socialist, Janata Samajwadi Party, and Rashtriya Janamorcha Party - were opposed to the same. The interpretative declaration will seek clarification on the provisions that the parties opposing the MCC compact have been saying are against the interest of the country. The declaration also interprets that the MCC compact won’t be part of any military strategy of the United States government in the Indo-Pacific. It also specifies that Nepal’s constitution would be above the MCC. It also has the provision that Nepal can terminate the MCC compact within 30 days if it finds it to be against interests of the country. The interpretative declaration has basically included all those provisions on which the US had earlier issued a clarification. US reacts Asserting on the strong ties Nepal and America share, the United States Embassy in Nepal on Sunday said relationship with Nepal is ‘broader than one agreement’. The embassy in a statement said the Government of Nepal signed the MCC agreement in 2017 after determining its goals to modernize Nepal’s energy and transportation sectors with the hope of helping more than 23 million Nepalis. “The decision whether to ratify the $500 million-dollar Millennium Challenge Corporation (MCC) Nepal Compact has always rested with the Government of Nepal as a sovereign democratic nation,” the statement said. Outlining on the benefits of the compact, the embassy said, “In the nearly 20 years since its inception, MCC compacts have helped alleviate poverty around the world by forming partnerships with developing countries who are committed to economic freedom, investing in their citizens, and good governance, including promoting democratic principles and combatting corruption.”

Nepal ratifies MCC, the US-offered infrastructure aid deal

France has joined China to build seven infrastructure projects worth 1.7 billion US dollars in Africa, Southeast Asia and Eastern Europe.

France & China to work together on 7 infrastructure projects worth $1.7 Billion

From infrastructure to credit, India has reached out to its neighbours from Nepal to Sri Lanka in a number of ways.&nbsp;

On Tuesday, India and Nepal signed a MoU for the construction of a motorable bridge over the Mahakali River with Indian grant assistance.

The MoU was signed between the Indian envoy to Nepal, Vinay Mohan Kwatra, and the Secretary, Ministry of Physical Infrastructure and Transport, Government of Nepal, Rabindra Nath Shrestha, and connects Dharchula (India) with Darchula (Nepal).

The project will increase cross-border connectivity between Nepal's Sudurpaschim province and India's Uttarakhand even as construction is set to commence soon.&nbsp;

As of now, traditional means, including suspensions, are used to go to either side, which obviously is not a very safe option. The Indian mission in Nepal said in a statement, "This&nbsp;is in line with the priority shared by both the governments to expand cross-border connectivity for streamlining commercial, cultural, and people-to-people exchanges."

On Wednesday, India extended a $500 million line of credit to Sri Lanka for the purchase of petroleum products. The pact was signed between India's Export Import Bank (EXIM) and the Sri Lankan government in the presence of Sri Lankan finance minister Basil Rajapaksa and Indian envoy to the country, Gopal Baglay.&nbsp;

In a release, the Indian mission in the country said, "As Sri Lanka’s closest neighbour and long-standing partner, India is committed to assisting Sri Lanka in its post-Covid economic recovery." The development comes even as the Sri Lankan finance minister and Indian external affairs minister spoke last month and New Delhi continues with its foreign exchange support of over USD 900 million to the country. India's overall development assistance to Sri Lanka stands at close to USD 4 billion.

Wednesday also saw the opening of an artificial limb camp in the country, which is supported by the Indian government and the Indian NGO Bhagwan Mahaveer Viklang Sahayata Samiti (BMVSS), well known for the distribution of Jaipur feet. The NGO, which is the world's largest organisation for providing artificial limbs and other related aids, had in the past organised 2 camps in Sri Lanka, one in Vavuniya in March-April 2010 and later in Jaffna in September 2011. More than 2500 people had benefited from these camps at the time, with over 1600 receiving the "Jaipur Foot."

Meanwhile, next week will see India begin to send 50,000 MT of wheat as humanitarian aid to Afghanistan.&nbsp;Afghan Envoy to India, Farid Mamundzay, has said that New Delhi will start delivering the promised wheat support to the Afghan people between February 10th and 12th.

He said, "India is going to deliver 50,000 MT of wheat in the next week or two, and is going to start delivery, which should be completed by months' time."

Pakistan has given all the assurances that we, the Afghan side and India, required to start the delivery of ​operation".&nbsp;

New Delhi has already sent 6 tonnes of medical supplies and half a million COVID vaccines to Afghan people in the last 6 weeks. In its budget announcement on February 1, India allocated Rs 200 crore to Afghanistan, even as the country has seen a Taliban takeover.

From infrastructure to credit, India has reached out to its neighbours from Nepal to Sri Lanka in a number of ways. On Tuesday, India and Nepal signed a MoU for the construction of a motorable bridge over the Mahakali River with Indian grant assistance.

From infrastructure to credit, India has reached out to its neighbours from Nepal to Sri Lanka in a number of ways. On Tuesday, India and Nepal signed a MoU for the construction of a motorable bridge over the Mahakali River with Indian grant assistance. The MoU was signed between the Indian envoy to Nepal, Vinay Mohan Kwatra, and the Secretary, Ministry of Physical Infrastructure and Transport, Government of Nepal, Rabindra Nath Shrestha, and connects Dharchula (India) with Darchula (Nepal). The project will increase cross-border connectivity between Nepal's Sudurpaschim province and India's Uttarakhand even as construction is set to commence soon. As of now, traditional means, including suspensions, are used to go to either side, which obviously is not a very safe option. The Indian mission in Nepal said in a statement, "This is in line with the priority shared by both the governments to expand cross-border connectivity for streamlining commercial, cultural, and people-to-people exchanges." On Wednesday, India extended a $500 million line of credit to Sri Lanka for the purchase of petroleum products. The pact was signed between India's Export Import Bank (EXIM) and the Sri Lankan government in the presence of Sri Lankan finance minister Basil Rajapaksa and Indian envoy to the country, Gopal Baglay. In a release, the Indian mission in the country said, "As Sri Lanka’s closest neighbour and long-standing partner, India is committed to assisting Sri Lanka in its post-Covid economic recovery." The development comes even as the Sri Lankan finance minister and Indian external affairs minister spoke last month and New Delhi continues with its foreign exchange support of over USD 900 million to the country. India's overall development assistance to Sri Lanka stands at close to USD 4 billion. Wednesday also saw the opening of an artificial limb camp in the country, which is supported by the Indian government and the Indian NGO Bhagwan Mahaveer Viklang Sahayata Samiti (BMVSS), well known for the distribution of Jaipur feet. The NGO, which is the world's largest organisation for providing artificial limbs and other related aids, had in the past organised 2 camps in Sri Lanka, one in Vavuniya in March-April 2010 and later in Jaffna in September 2011. More than 2500 people had benefited from these camps at the time, with over 1600 receiving the "Jaipur Foot." Meanwhile, next week will see India begin to send 50,000 MT of wheat as humanitarian aid to Afghanistan. Afghan Envoy to India, Farid Mamundzay, has said that New Delhi will start delivering the promised wheat support to the Afghan people between February 10th and 12th. He said, "India is going to deliver 50,000 MT of wheat in the next week or two, and is going to start delivery, which should be completed by months' time." Pakistan has given all the assurances that we, the Afghan side and India, required to start the delivery of operation". New Delhi has already sent 6 tonnes of medical supplies and half a million COVID vaccines to Afghan people in the last 6 weeks. In its budget announcement on February 1, India allocated Rs 200 crore to Afghanistan, even as the country has seen a Taliban takeover.

Infrastructure​​​​​​​, credit and aid, India reaches out to the neighbourhood

According to a new scientific data, thawing permafrost could put as much as 50 percent of Arctic infrastructure at high risk of damage by 2050.

Report: Permafrost thaw threatening homes, infrastructure in Arctic

President Joe Biden signed into law a $1 trillion infrastructure bill at a White House ceremony on Monday. The white House witnessed a rare bipartisan for the signing.

United States: Joe Biden signs $1 TN infrastructure bill into law

Infrastructure funding has traditionally been a broadly bipartisan issue on Capitol Hill, but President Joe Biden’s sweeping infrastructure bill passed Friday night mostly along party lines.

Only 19 members of Congress broke with their parties on the bill, which passed 228-206 with Democrats largely supporting the legislation and Republicans mostly opposed.

So who were those 19 lawmakers — 13 Republicans and six Democrats — who bucked their parties? They can be broken down roughly into three camps: Republicans who consulted with negotiators on the bill; Republicans who maintain the party’s traditional view that funding infrastructure is more important than fighting a president of a different party; and members of the liberal group known as the Squad.

The Squad

Six Democrats who are part of the progressive group known as “The Squad” — Jamaal Bowman of New York, Cori Bush of Missouri, Alexandria Ocasio-Cortez of New York, Ilhan Omar of Minnesota, Ayanna S. Pressley of Massachusetts and Rashida Tlaib of Michigan — voted against Biden’s plan to spend $550 billion in new funds over 10 years to shore up roads, bridges and highways, improve internet access and modernize the nation’s power grid.

The Squad has grown from four to six members since 2019, when Ocasio-Cortez, the highest-profile progressive on Capitol Hill, entered Congress. Its members were among the leading supporters of the strategy to use the infrastructure bill as leverage for passing Biden’s broader agenda: a $1.85 trillion social safety net and climate change bill.

Ocasio-Cortez has argued that the provisions in Biden’s bill to fight climate change are needed to offset the impact on the environment from a surge in funding for construction projects.

Passing the infrastructure bill without the larger domestic policy package “makes our emissions &amp; climate crisis worse,” she wrote on Twitter in October. “It keeps us in the emissions red.”

Her position was shared by the nearly 100-member Congressional Progressive Caucus until centrist Democrats who had been holdouts on the broader bill pledged Friday night that they would vote for it no later than the week of Nov. 15, unless the Congressional Budget Office determines its costs are “inconsistent” with the $1.85 trillion estimate put forth by Biden’s staff.

While most progressives then agreed to vote for the bill, members of the Squad did not view the centrists’ assurances as good enough and chose to stick with their position of demanding both bills pass at the same time. Bush said that passing the infrastructure bill alone “jeopardized our leverage” on the broader bill — which includes monthly payments to families with children, universal prekindergarten, health care subsidies and a four-week paid family and medical leave program — and endangered progressives’ ability to “improve the livelihood of our health care workers, our children, our caregivers, our seniors, and the future of our environment.”

Still, Pressley cast her vote against the infrastructure bill after it had enough votes to pass.

That position infuriated some moderate Democrats. One of them, Rep. Tom Suozzi of New York, equated the opposition of left-leaning fellow New Yorkers like Ocasio-Cortez and Bowman with far-right Republicans like Lee Zeldin of New York for voting against a bill that would funnel billions of dollars into the state for subways, sewers and broadband.

“That doesn’t make any sense,” Suozzi, who is contemplating a run for governor, told reporters at a New York political conclave in San Juan, Puerto Rico, on Saturday. “These are two sides of the same coin: People so far out on the fringe instead of trying to get stuff done to help people and make people's lives better. That’s what people are sick and tired of.”

Republican ‘Problem Solvers’

Eight Republicans who voted in favor of the infrastructure bill — Don Bacon of Nebraska, Brian Fitzpatrick of Pennsylvania, Andrew Garbarino of New York, Anthony Gonzalez of Ohio, John Katko of New York, Tom Reed of New York, Christopher H. Smith of New Jersey and Fred Upton of Michigan — were part of a bipartisan group of lawmakers who helped negotiate the infrastructure bill this summer, consulting with centrists in the Senate.

The group known as the Problem Solvers Caucus, including Fitzpatrick, the Republican co-chairman, had once hoped to deliver as many as 29 Republican House votes for the bill but saw members fall away once Rep. Kevin McCarthy, the House minority leader, and other top Republicans opposed it as they ramped up their campaign against Biden’s agenda.

Still, with improvements to highways, bridges, dams, public transit, rail, ports, airports, water quality and broadband coming to the districts, eight members of the group cast their votes in favor of the plan.

Garbarino, who represents part of Long Island, cited the benefits for New York — including $24.9 billion for highways, bridges and transit; $15 billion to replace lead service lines for drinking water; and $470 million for New York’s Kennedy, La Guardia, MacArthur and Republic airports — among his reasons for embracing the bill.

The vote “was about roads, bridges, and clean water,” he said. “It was about real people, and the tangible action Congress could take to better their lives by rebuilding and revitalizing our nation’s crumbling infrastructure.”

The Republicans who voted in favor of the bill faced backlash from some hard-right members of their party. Rep. Marjorie Taylor Greene, R-Ga., posted their office phone numbers on Twitter and accused them of handing over their “voting cards to Nancy Pelosi to pass Joe Biden’s communist takeover of America.”

Republican Traditionalists on Infrastructure

A final group of five House Republicans joined members of the Problem Solvers Caucus in bucking their party to support the bill. This group — Adam Kinzinger of Illinois, Don Young of Alaska, Nicole Malliotakis of New York, David B. McKinley of West Virginia and Jeff Van Drew of New Jersey — can be roughly defined as embracing the party’s traditionalist view of funding infrastructure.

Young, 88, is the Republican Party’s longest-serving member, having represented Alaska for 25 terms. He endorsed the bill in September, arguing the party has always supported funding roads and bridges and emphasizing that past infrastructure votes were “darn near” unanimous.

“We need infrastructure in this country now,” Young said. “This is the last opportunity we have to make sure those potholes are filled, those airports run right, that bridges are safe and our economy can continue to grow.”

Others, much newer to Congress, said they shared Young’s view on the issue.

Malliotakis, who is in her first term representing Staten Island, released a statement explaining her vote that listed various projects the funding could support in her community, including “completing the High-Occupancy Vehicles lane on the Staten Island Expressway,” fortifying coastal neighborhoods and expanding “our sewer systems to deal with the next Superstorm Sandy or Hurricane Ida.”

“Simply put, it’s this type of investment that will not only save city residents’ time and money, but also their properties and lives,” she said.

Infrastructure funding has traditionally been a broadly bipartisan issue on Capitol Hill, but President Joe Biden’s sweeping infrastructure bill passed Friday night mostly along party lines.

Infrastructure funding has traditionally been a broadly bipartisan issue on Capitol Hill, but President Joe Biden’s sweeping infrastructure bill passed Friday night mostly along party lines. Only 19 members of Congress broke with their parties on the bill, which passed 228-206 with Democrats largely supporting the legislation and Republicans mostly opposed. So who were those 19 lawmakers — 13 Republicans and six Democrats — who bucked their parties? They can be broken down roughly into three camps: Republicans who consulted with negotiators on the bill; Republicans who maintain the party’s traditional view that funding infrastructure is more important than fighting a president of a different party; and members of the liberal group known as the Squad. The Squad Six Democrats who are part of the progressive group known as “The Squad” — Jamaal Bowman of New York, Cori Bush of Missouri, Alexandria Ocasio-Cortez of New York, Ilhan Omar of Minnesota, Ayanna S. Pressley of Massachusetts and Rashida Tlaib of Michigan — voted against Biden’s plan to spend $550 billion in new funds over 10 years to shore up roads, bridges and highways, improve internet access and modernize the nation’s power grid. The Squad has grown from four to six members since 2019, when Ocasio-Cortez, the highest-profile progressive on Capitol Hill, entered Congress. Its members were among the leading supporters of the strategy to use the infrastructure bill as leverage for passing Biden’s broader agenda: a $1.85 trillion social safety net and climate change bill. Ocasio-Cortez has argued that the provisions in Biden’s bill to fight climate change are needed to offset the impact on the environment from a surge in funding for construction projects. Passing the infrastructure bill without the larger domestic policy package “makes our emissions & climate crisis worse,” she wrote on Twitter in October. “It keeps us in the emissions red.” Her position was shared by the nearly 100-member Congressional Progressive Caucus until centrist Democrats who had been holdouts on the broader bill pledged Friday night that they would vote for it no later than the week of Nov. 15, unless the Congressional Budget Office determines its costs are “inconsistent” with the $1.85 trillion estimate put forth by Biden’s staff. While most progressives then agreed to vote for the bill, members of the Squad did not view the centrists’ assurances as good enough and chose to stick with their position of demanding both bills pass at the same time. Bush said that passing the infrastructure bill alone “jeopardized our leverage” on the broader bill — which includes monthly payments to families with children, universal prekindergarten, health care subsidies and a four-week paid family and medical leave program — and endangered progressives’ ability to “improve the livelihood of our health care workers, our children, our caregivers, our seniors, and the future of our environment.” Still, Pressley cast her vote against the infrastructure bill after it had enough votes to pass. That position infuriated some moderate Democrats. One of them, Rep. Tom Suozzi of New York, equated the opposition of left-leaning fellow New Yorkers like Ocasio-Cortez and Bowman with far-right Republicans like Lee Zeldin of New York for voting against a bill that would funnel billions of dollars into the state for subways, sewers and broadband. “That doesn’t make any sense,” Suozzi, who is contemplating a run for governor, told reporters at a New York political conclave in San Juan, Puerto Rico, on Saturday. “These are two sides of the same coin: People so far out on the fringe instead of trying to get stuff done to help people and make people's lives better. That’s what people are sick and tired of.” Republican ‘Problem Solvers’ Eight Republicans who voted in favor of the infrastructure bill — Don Bacon of Nebraska, Brian Fitzpatrick of Pennsylvania, Andrew Garbarino of New York, Anthony Gonzalez of Ohio, John Katko of New York, Tom Reed of New York, Christopher H. Smith of New Jersey and Fred Upton of Michigan — were part of a bipartisan group of lawmakers who helped negotiate the infrastructure bill this summer, consulting with centrists in the Senate. The group known as the Problem Solvers Caucus, including Fitzpatrick, the Republican co-chairman, had once hoped to deliver as many as 29 Republican House votes for the bill but saw members fall away once Rep. Kevin McCarthy, the House minority leader, and other top Republicans opposed it as they ramped up their campaign against Biden’s agenda. Still, with improvements to highways, bridges, dams, public transit, rail, ports, airports, water quality and broadband coming to the districts, eight members of the group cast their votes in favor of the plan. Garbarino, who represents part of Long Island, cited the benefits for New York — including $24.9 billion for highways, bridges and transit; $15 billion to replace lead service lines for drinking water; and $470 million for New York’s Kennedy, La Guardia, MacArthur and Republic airports — among his reasons for embracing the bill. The vote “was about roads, bridges, and clean water,” he said. “It was about real people, and the tangible action Congress could take to better their lives by rebuilding and revitalizing our nation’s crumbling infrastructure.” The Republicans who voted in favor of the bill faced backlash from some hard-right members of their party. Rep. Marjorie Taylor Greene, R-Ga., posted their office phone numbers on Twitter and accused them of handing over their “voting cards to Nancy Pelosi to pass Joe Biden’s communist takeover of America.” Republican Traditionalists on Infrastructure A final group of five House Republicans joined members of the Problem Solvers Caucus in bucking their party to support the bill. This group — Adam Kinzinger of Illinois, Don Young of Alaska, Nicole Malliotakis of New York, David B. McKinley of West Virginia and Jeff Van Drew of New Jersey — can be roughly defined as embracing the party’s traditionalist view of funding infrastructure. Young, 88, is the Republican Party’s longest-serving member, having represented Alaska for 25 terms. He endorsed the bill in September, arguing the party has always supported funding roads and bridges and emphasizing that past infrastructure votes were “darn near” unanimous. “We need infrastructure in this country now,” Young said. “This is the last opportunity we have to make sure those potholes are filled, those airports run right, that bridges are safe and our economy can continue to grow.” Others, much newer to Congress, said they shared Young’s view on the issue. Malliotakis, who is in her first term representing Staten Island, released a statement explaining her vote that listed various projects the funding could support in her community, including “completing the High-Occupancy Vehicles lane on the Staten Island Expressway,” fortifying coastal neighborhoods and expanding “our sewer systems to deal with the next Superstorm Sandy or Hurricane Ida.” “Simply put, it’s this type of investment that will not only save city residents’ time and money, but also their properties and lives,” she said.

In infrastructure votes, 19 members broke with their party

Foreign Secretary Liz Truss is on a two-day visit to India will announce a series of technology and infrastructure tie-ups with India worth over USD 82 million to boost employment opportunities and more.

UK foreign secy Liz Truss begins India visit today; tech, infrastructure deal on cards

Jammu and Kashmir administration has signed a Memorandum of Understanding (MoU) with the Dubai government for the development of real estate, industrial parks, super specialty hospital, and more.

J&K govt signs MoU with Dubai to develop real estate

Business groups and some Senate Republicans — working at cross-purposes with Republican leaders in the House — have mounted an all-out drive to secure GOP votes for a bipartisan infrastructure bill before a final vote Thursday.

Although the measure is the product of a compromise among moderates in both parties, House Republican leaders are leaning on their members to reject the $1 trillion infrastructure bill by disparaging its contents and arguing that it will only pave the way for Democrats to push through their far larger climate change and social policy bill.

Their opposition has ratcheted up pressure on House Speaker Nancy Pelosi, who has the more progressive members of her Democratic caucus threatening to withhold their support for the infrastructure package until Congress acts on that broader bill. If Republicans unite in opposition, Pelosi can afford to lose as few as three Democrats on the bill.

But some Republican senators who helped write the bill, along with influential business groups that support it — including the U.S. Chamber of Commerce and the Business Roundtable — have started a countereffort to try to persuade House Republicans to back the legislation.

“It’s a good bill; it’s right there for the country, so I’m encouraging Republicans to support it,” said Sen. Rob Portman, R-Ohio, and one of the bill’s negotiators, who said he was working the phones hard. “There’ll be some that have told me they will, but they’re under a lot of pressure.”

How the conflicting pressure campaigns play out could determine the fate of the infrastructure bill. On Tuesday, liberal Democrats accused Pelosi of a betrayal for abandoning her promise that the House would not take up the infrastructure bill until after the Senate secured passage of the larger measure.

While Democratic leaders are working hard to secure as many of those liberal votes as possible, they know defections will have to be made up by House Republicans.

“I’d say the bill is likely to pass, but it’s going to be a squeaker,” Neil Bradley, an executive vice president and chief policy officer for the U.S. Chamber of Commerce, who once worked for House Republican leadership, said Tuesday.

Rep. Steve Scalise, R-La., who runs his party’s vote-pressuring operation in the House, is closely tracking which Republicans intend to vote for the infrastructure bill.

“We’re working to keep that number as low as we possibly can,” he said.

A few House Republicans who are members of the bipartisan Problem Solvers Caucus have announced their support for the measure, including Reps. Tom Reed of New York, Brian Fitzpatrick of Pennsylvania and Don Bacon of Nebraska. On Monday, Rep. Don Young of Alaska, the longest-serving member of the House, announced his support with an impassioned speech on the House floor.

But so far, such declarations are few. On Wednesday, Third Way, a centrist Democratic group with corporate backing, released a testy letter its president had written to 26 Republican “Problem Solvers” — only one of whom, Bacon, has indicated he is a “yes” vote — demanding they live up to their name.

“You have run for office and raised campaign funds on the promise that you are there to solve the nation’s problems and put country over party,” wrote Third Way’s president, Jonathan Cowan. “Anything other than declaring your support now and voting for the bill, in turn, would signal clearly to your constituents that you support nothing more than faux bipartisanship.”

Moderate Democrats say other supporters may surface — maybe as many as 20 Republican votes — if Pelosi can win over enough liberals to keep it close. But with a Thursday vote looming, time is running out.

Rep. Peter Meijer, a freshman Republican from Michigan and one of the “Problem Solvers” who received the letter, said he had heard from Republicans on both sides of the issue, and, “the consensus is: better both fail.”

President Joe Biden "saddling infrastructure with this $3.5 trillion albatross around its neck was a poison pill for those of us who wanted a bipartisan solution,” he said.

The infrastructure bill is an unusual phenomenon in a starkly polarized Congress: a truly bipartisan and significant bill, hammered out by Democrats and Republicans before it passed the Senate last month with 69 votes, 19 of them Republican, including that of the minority leader, Sen. Mitch McConnell of Kentucky.

With $550 billion in new federal spending, the measure would provide $65 billion to expand high-speed internet access; $110 billion for roads, bridges and other projects; $25 billion for airports; and the most funding for Amtrak since the passenger rail service was founded in 1971. It would also renew and revamp existing infrastructure and transportation programs set to expire Friday.

But because House Democratic leaders have at least verbally packaged it with a larger, $3.5 trillion climate change and social policy bill, it has been caught up in the politics of that measure — and broader Republican efforts to thwart Biden’s agenda.

Scalise put it in the loftiest of terms Tuesday: “This week, we’re going to see an epic battle play out between free-market capitalism and big-government socialism. That’s what’s at stake.”

With Democrats publicly feuding over Biden’s agenda, senior Republicans have little interest in having their rank and file bail Pelosi out of her predicament.

“The legislative crisis that’s before her is one of her own creation that she needs the progressives to bail her out of,” said Rep. Jason Smith of Missouri, the ranking Republican on the House Budget Committee.

Supporters of the infrastructure bill are trying to stay cleareyed about the bill’s merits, not the broader politics.

“It’s true people have been rhetorically linking the two, but really they aren’t,” Bradley said. “If that vote passes, the bill goes to the president for his signature.”

And they argue that House Republicans are making the wrong political calculation about the infrastructure measure. GOP leaders have warned that the bill is a Trojan horse whose passage would only increase the chances of Democrats passing the more costly plan that Biden calls his Build Back Better agenda, which is packed with expansions of social safety net programs, initiatives to combat climate change and tax increases on corporations and the wealthy.

“I just think it’s not accurate,” Portman said.

Instead, some proponents of the infrastructure measure see its passage as a potential setback for the bigger plan. They argue that the enactment of the infrastructure bill could sap progressives of their leverage to dictate the terms of the more ambitious and costly piece of their agenda.

Joshua Bolten, a former White House chief of staff for George W. Bush who is president of the Business Roundtable, said the chief executives’ organization was pushing for the bill’s passage, running radio and social media ads in Republican districts and pressing for meetings with lawmakers.

“This is a really good bill. It’s urgently needed. It will have a dramatic effect on the productivity of U.S. economy. It’s investment really well spent,” he said Tuesday. “Pass it now and have the fight over the other bill later.”

Sen. Mitt Romney, R-Utah, said he had lobbied every member of his state’s delegation to support the measure.

“I can’t predict where they will end up, but I’m certainly encouraging people to consider the merits of the bill as opposed to worrying about what outside observers have to say,” he said.

In this case, House Republican leaders appear to be heeding pressure from conservative groups, which have disparaged the infrastructure bill as bloated with spending that goes far beyond its stated purpose. And they predict that moderate Democrats who have pressed for its passage will be angered enough by its demise that they will exact revenge by bringing down the social policy bill.

“This is a desperate administration looking for a win to distract Americans from the Biden-caused crises, both home and abroad, while opening the floodgates to trillions more in spending to come,” said Rep. Beth Van Duyne, R-Texas.

Business groups and some Senate Republicans — working at cross-purposes with Republican leaders in the House — have mounted an all-out drive to secure GOP votes for a bipartisan infrastructure bill before a final vote Thursday.

Business groups and some Senate Republicans — working at cross-purposes with Republican leaders in the House — have mounted an all-out drive to secure GOP votes for a bipartisan infrastructure bill before a final vote Thursday. Although the measure is the product of a compromise among moderates in both parties, House Republican leaders are leaning on their members to reject the $1 trillion infrastructure bill by disparaging its contents and arguing that it will only pave the way for Democrats to push through their far larger climate change and social policy bill. Their opposition has ratcheted up pressure on House Speaker Nancy Pelosi, who has the more progressive members of her Democratic caucus threatening to withhold their support for the infrastructure package until Congress acts on that broader bill. If Republicans unite in opposition, Pelosi can afford to lose as few as three Democrats on the bill. But some Republican senators who helped write the bill, along with influential business groups that support it — including the U.S. Chamber of Commerce and the Business Roundtable — have started a countereffort to try to persuade House Republicans to back the legislation. “It’s a good bill; it’s right there for the country, so I’m encouraging Republicans to support it,” said Sen. Rob Portman, R-Ohio, and one of the bill’s negotiators, who said he was working the phones hard. “There’ll be some that have told me they will, but they’re under a lot of pressure.” How the conflicting pressure campaigns play out could determine the fate of the infrastructure bill. On Tuesday, liberal Democrats accused Pelosi of a betrayal for abandoning her promise that the House would not take up the infrastructure bill until after the Senate secured passage of the larger measure. While Democratic leaders are working hard to secure as many of those liberal votes as possible, they know defections will have to be made up by House Republicans. “I’d say the bill is likely to pass, but it’s going to be a squeaker,” Neil Bradley, an executive vice president and chief policy officer for the U.S. Chamber of Commerce, who once worked for House Republican leadership, said Tuesday. Rep. Steve Scalise, R-La., who runs his party’s vote-pressuring operation in the House, is closely tracking which Republicans intend to vote for the infrastructure bill. “We’re working to keep that number as low as we possibly can,” he said. A few House Republicans who are members of the bipartisan Problem Solvers Caucus have announced their support for the measure, including Reps. Tom Reed of New York, Brian Fitzpatrick of Pennsylvania and Don Bacon of Nebraska. On Monday, Rep. Don Young of Alaska, the longest-serving member of the House, announced his support with an impassioned speech on the House floor. But so far, such declarations are few. On Wednesday, Third Way, a centrist Democratic group with corporate backing, released a testy letter its president had written to 26 Republican “Problem Solvers” — only one of whom, Bacon, has indicated he is a “yes” vote — demanding they live up to their name. “You have run for office and raised campaign funds on the promise that you are there to solve the nation’s problems and put country over party,” wrote Third Way’s president, Jonathan Cowan. “Anything other than declaring your support now and voting for the bill, in turn, would signal clearly to your constituents that you support nothing more than faux bipartisanship.” Moderate Democrats say other supporters may surface — maybe as many as 20 Republican votes — if Pelosi can win over enough liberals to keep it close. But with a Thursday vote looming, time is running out. Rep. Peter Meijer, a freshman Republican from Michigan and one of the “Problem Solvers” who received the letter, said he had heard from Republicans on both sides of the issue, and, “the consensus is: better both fail.” President Joe Biden "saddling infrastructure with this $3.5 trillion albatross around its neck was a poison pill for those of us who wanted a bipartisan solution,” he said. The infrastructure bill is an unusual phenomenon in a starkly polarized Congress: a truly bipartisan and significant bill, hammered out by Democrats and Republicans before it passed the Senate last month with 69 votes, 19 of them Republican, including that of the minority leader, Sen. Mitch McConnell of Kentucky. With $550 billion in new federal spending, the measure would provide $65 billion to expand high-speed internet access; $110 billion for roads, bridges and other projects; $25 billion for airports; and the most funding for Amtrak since the passenger rail service was founded in 1971. It would also renew and revamp existing infrastructure and transportation programs set to expire Friday. But because House Democratic leaders have at least verbally packaged it with a larger, $3.5 trillion climate change and social policy bill, it has been caught up in the politics of that measure — and broader Republican efforts to thwart Biden’s agenda. Scalise put it in the loftiest of terms Tuesday: “This week, we’re going to see an epic battle play out between free-market capitalism and big-government socialism. That’s what’s at stake.” With Democrats publicly feuding over Biden’s agenda, senior Republicans have little interest in having their rank and file bail Pelosi out of her predicament. “The legislative crisis that’s before her is one of her own creation that she needs the progressives to bail her out of,” said Rep. Jason Smith of Missouri, the ranking Republican on the House Budget Committee. Supporters of the infrastructure bill are trying to stay cleareyed about the bill’s merits, not the broader politics. “It’s true people have been rhetorically linking the two, but really they aren’t,” Bradley said. “If that vote passes, the bill goes to the president for his signature.” And they argue that House Republicans are making the wrong political calculation about the infrastructure measure. GOP leaders have warned that the bill is a Trojan horse whose passage would only increase the chances of Democrats passing the more costly plan that Biden calls his Build Back Better agenda, which is packed with expansions of social safety net programs, initiatives to combat climate change and tax increases on corporations and the wealthy. “I just think it’s not accurate,” Portman said. Instead, some proponents of the infrastructure measure see its passage as a potential setback for the bigger plan. They argue that the enactment of the infrastructure bill could sap progressives of their leverage to dictate the terms of the more ambitious and costly piece of their agenda. Joshua Bolten, a former White House chief of staff for George W. Bush who is president of the Business Roundtable, said the chief executives’ organization was pushing for the bill’s passage, running radio and social media ads in Republican districts and pressing for meetings with lawmakers. “This is a really good bill. It’s urgently needed. It will have a dramatic effect on the productivity of U.S. economy. It’s investment really well spent,” he said Tuesday. “Pass it now and have the fight over the other bill later.” Sen. Mitt Romney, R-Utah, said he had lobbied every member of his state’s delegation to support the measure. “I can’t predict where they will end up, but I’m certainly encouraging people to consider the merits of the bill as opposed to worrying about what outside observers have to say,” he said. In this case, House Republican leaders appear to be heeding pressure from conservative groups, which have disparaged the infrastructure bill as bloated with spending that goes far beyond its stated purpose. And they predict that moderate Democrats who have pressed for its passage will be angered enough by its demise that they will exact revenge by bringing down the social policy bill. “This is a desperate administration looking for a win to distract Americans from the Biden-caused crises, both home and abroad, while opening the floodgates to trillions more in spending to come,” said Rep. Beth Van Duyne, R-Texas.

Republicans at odds over infrastructure bill as vote approaches

Liberal Democrats dug in on Tuesday against voting for a $1 trillion bipartisan infrastructure bill this week, angrily rejecting a decision by House Speaker Nancy Pelosi to push the bill forward before the party could resolve bitter disagreements over a sprawling social policy and climate package.

The day after Pelosi signaled she would follow through with a Thursday vote on the infrastructure plan, the backlash reflected deep mistrust in the Democratic ranks that is threatening to derail President Joe Biden’s domestic policy agenda.

At the heart of the impasse was a lack of clarity from moderate and conservative Democrats about what they would accept in the broader social safety net package, which has hamstrung negotiations led by Biden and Democratic congressional leaders to unify the party around a plan that can pass both chambers. Without a compromise, progressives say they cannot support the smaller, Senate-passed infrastructure plan, which omits many of their top priorities.

“Let me be clear: bringing the so-called bipartisan infrastructure plan to a vote without the #BuildBackBetter Act at the same time is a betrayal,” Rep. Rashida Tlaib, D-Mich., said on Twitter on Tuesday. “We will hold the line and vote it down.”

Pelosi initially said the House would not take up the infrastructure plan until after the broader bill had passed. But in recent days, she has effectively decoupled the two bills, saying the party needed more time to resolve its differences over the proposed $3.5 trillion social policy plan, which conservative-leaning Democrats have called too costly.

“There was an intervention, as you know, in the past week or 10 days, of saying, ‘Well, we can’t go there,’” Pelosi said after a morning meeting with her caucus. “We’ll see what that is, and hopefully it will measure, it will reach the level that we need in order to pass both bills.”

“We will pass both bills,” she concluded.

Biden has been negotiating privately with some of the prime holdouts and met at the White House on Tuesday with two of them, Sen. Kyrsten Sinema of Arizona and Joe Manchin III of West Virginia. In the evening, the president canceled a Wednesday trip to Chicago, which was intended to promote COVID-19 vaccinations, so he could remain focused on brokering an agreement on his economic agenda.

Democrats are pushing through the social safety net package using the fast-track reconciliation process to shield it from a filibuster. But with slim margins of control in both chambers and Republicans unified in opposition, Democratic leaders must keep all their senators united in favor, and they can afford to lose as few as three votes in the House.

Senior White House officials worked feverishly on Tuesday to unite Democrats around both the infrastructure bill and the reconciliation plan, meeting with key lawmakers and staff members in an attempt to forge a compromise between moderates and progressives. Biden held a series of meetings at the White House, as well as calls with progressives, an administration official said.

A White House adviser said Biden and his team were working through the often competing positions that Democrats in various factions have staked out. On Capitol Hill, moderate Democrats remained confident that enough Republicans would support the infrastructure bill to allow it to clear the House, sending the legislation to Biden’s desk.

But liberals held firm, and received some high-profile encouragement from across the Capitol. Sen. Bernie Sanders, I-Vt., who leads the Senate Budget Committee, issued a fiery statement encouraging liberals to remain united in their stance.

“If there was a framework that addressed the major issues that we are fighting for in reconciliation, if there was a serious top line — I believe of $3.5 trillion — and Manchin and Sinema were 100% in agreement they would support that as we work out the fine details, that’s one thing,” Sanders said in an interview. “We’re not there yet, and it is upsetting to me that, as I understand it, they go to the White House and still nothing is happening. So I think it’s premature at this point to be passing the infrastructure bill.”

Lawmakers in both chambers have said they hope to quickly iron out the remaining differences between the moderate and liberal factions of their party, although many of the specific demands from the holdouts remain unclear. Pelosi has privately reiterated that she would not take up a reconciliation bill that could not pass the Senate.

But she told Democrats that she wanted to leave time for continued negotiations on it and as of Tuesday afternoon, it did not appear that a vote on the bipartisan infrastructure legislation would be delayed. That bill includes $550 billion in new funds over 10 years and maintains a series of key transportation programs set to lapse with the end of the fiscal year on Thursday.

“Man, holding one hostage over the other is not fair — it’s not right, it’s not good for the country,” Manchin said after his afternoon meeting at the White House, when pressed on his position and the vote conundrum in the House.

“You have to have trust a little bit, you know. Everybody’s not going to get what they want,” he added. “But let’s find out what the country needs.”

Both Manchin and Sinema have become a main target of liberal ire, having refused to publicly commit to an overall price tag after openly opposing a final $3.5 trillion package. Moderates in the House have also raised a wide variety of reservations about the scope of the legislation, leaving Democratic leaders with a complex web of issues that have frustrated efforts to reach a deal.

Sinema, for example, has privately expressed concern about current proposals for tax increases on wealthy people and corporations, while Manchin and others have floated the possibility of trimming back some of the spending.

“I think we just need them to say what’s the top line over there, which there’s always been a bit of reticence about saying,” said Rep. Richard E. Neal, D-Mass., the chairman of the House Ways and Means Committee.

Without assurances from Senate moderates that they would embrace key components of the reconciliation legislation, progressives said they would not be comfortable backing the infrastructure measure.

“I think we’re in a situation where there’s a lot of needless hostage-taking — we can support everyone’s agenda here,” said Rep. Alexandria Ocasio-Cortez, D-N.Y. “The idea that we must split them apart or have them on different dates is an artificial construct in order to take people’s child care away.”

“Realigning these two votes will bring our party together,” she told reporters.

Even as they worked to keep both pieces of Biden’s agenda on track, Democratic leaders were confronting two more urgent fiscal deadlines: the lapse of government funding at midnight on Thursday and the breach of the federal debt ceiling, which would cause a default. Treasury Secretary Janet Yellen informed lawmakers on Tuesday that the deadline to avoid a default could come as early as Oct. 18, narrowing the window of time for Congress to act.

Senate Republicans on Monday blocked an emergency spending bill that would have lifted the statutory limit on federal borrowing, forcing Democratic leaders to consider a new strategy for averting a fiscal crisis. On Tuesday, they blocked another procedural attempt by Senate Democrats to avoid a filibuster and raise the debt ceiling.

Republicans have demanded that Democrats use the reconciliation process to raise the debt ceiling. But the maneuver would be complex and time-consuming, and House Democrats were considering taking up a separate bill raising the debt limit as early as Wednesday to continue pressuring the GOP on the issue.

Liberal Democrats dug in on Tuesday against voting for a $1 trillion bipartisan infrastructure bill this week, angrily rejecting a decision by House Speaker Nancy Pelosi to push the bill forward before the party could resolve bitter disagreements over a sprawling social policy and climate package.

Liberal Democrats dug in on Tuesday against voting for a $1 trillion bipartisan infrastructure bill this week, angrily rejecting a decision by House Speaker Nancy Pelosi to push the bill forward before the party could resolve bitter disagreements over a sprawling social policy and climate package. The day after Pelosi signaled she would follow through with a Thursday vote on the infrastructure plan, the backlash reflected deep mistrust in the Democratic ranks that is threatening to derail President Joe Biden’s domestic policy agenda. At the heart of the impasse was a lack of clarity from moderate and conservative Democrats about what they would accept in the broader social safety net package, which has hamstrung negotiations led by Biden and Democratic congressional leaders to unify the party around a plan that can pass both chambers. Without a compromise, progressives say they cannot support the smaller, Senate-passed infrastructure plan, which omits many of their top priorities. “Let me be clear: bringing the so-called bipartisan infrastructure plan to a vote without the #BuildBackBetter Act at the same time is a betrayal,” Rep. Rashida Tlaib, D-Mich., said on Twitter on Tuesday. “We will hold the line and vote it down.” Pelosi initially said the House would not take up the infrastructure plan until after the broader bill had passed. But in recent days, she has effectively decoupled the two bills, saying the party needed more time to resolve its differences over the proposed $3.5 trillion social policy plan, which conservative-leaning Democrats have called too costly. “There was an intervention, as you know, in the past week or 10 days, of saying, ‘Well, we can’t go there,’” Pelosi said after a morning meeting with her caucus. “We’ll see what that is, and hopefully it will measure, it will reach the level that we need in order to pass both bills.” “We will pass both bills,” she concluded. Biden has been negotiating privately with some of the prime holdouts and met at the White House on Tuesday with two of them, Sen. Kyrsten Sinema of Arizona and Joe Manchin III of West Virginia. In the evening, the president canceled a Wednesday trip to Chicago, which was intended to promote COVID-19 vaccinations, so he could remain focused on brokering an agreement on his economic agenda. Democrats are pushing through the social safety net package using the fast-track reconciliation process to shield it from a filibuster. But with slim margins of control in both chambers and Republicans unified in opposition, Democratic leaders must keep all their senators united in favor, and they can afford to lose as few as three votes in the House. Senior White House officials worked feverishly on Tuesday to unite Democrats around both the infrastructure bill and the reconciliation plan, meeting with key lawmakers and staff members in an attempt to forge a compromise between moderates and progressives. Biden held a series of meetings at the White House, as well as calls with progressives, an administration official said. A White House adviser said Biden and his team were working through the often competing positions that Democrats in various factions have staked out. On Capitol Hill, moderate Democrats remained confident that enough Republicans would support the infrastructure bill to allow it to clear the House, sending the legislation to Biden’s desk. But liberals held firm, and received some high-profile encouragement from across the Capitol. Sen. Bernie Sanders, I-Vt., who leads the Senate Budget Committee, issued a fiery statement encouraging liberals to remain united in their stance. “If there was a framework that addressed the major issues that we are fighting for in reconciliation, if there was a serious top line — I believe of $3.5 trillion — and Manchin and Sinema were 100% in agreement they would support that as we work out the fine details, that’s one thing,” Sanders said in an interview. “We’re not there yet, and it is upsetting to me that, as I understand it, they go to the White House and still nothing is happening. So I think it’s premature at this point to be passing the infrastructure bill.” Lawmakers in both chambers have said they hope to quickly iron out the remaining differences between the moderate and liberal factions of their party, although many of the specific demands from the holdouts remain unclear. Pelosi has privately reiterated that she would not take up a reconciliation bill that could not pass the Senate. But she told Democrats that she wanted to leave time for continued negotiations on it and as of Tuesday afternoon, it did not appear that a vote on the bipartisan infrastructure legislation would be delayed. That bill includes $550 billion in new funds over 10 years and maintains a series of key transportation programs set to lapse with the end of the fiscal year on Thursday. “Man, holding one hostage over the other is not fair — it’s not right, it’s not good for the country,” Manchin said after his afternoon meeting at the White House, when pressed on his position and the vote conundrum in the House. “You have to have trust a little bit, you know. Everybody’s not going to get what they want,” he added. “But let’s find out what the country needs.” Both Manchin and Sinema have become a main target of liberal ire, having refused to publicly commit to an overall price tag after openly opposing a final $3.5 trillion package. Moderates in the House have also raised a wide variety of reservations about the scope of the legislation, leaving Democratic leaders with a complex web of issues that have frustrated efforts to reach a deal. Sinema, for example, has privately expressed concern about current proposals for tax increases on wealthy people and corporations, while Manchin and others have floated the possibility of trimming back some of the spending. “I think we just need them to say what’s the top line over there, which there’s always been a bit of reticence about saying,” said Rep. Richard E. Neal, D-Mass., the chairman of the House Ways and Means Committee. Without assurances from Senate moderates that they would embrace key components of the reconciliation legislation, progressives said they would not be comfortable backing the infrastructure measure. “I think we’re in a situation where there’s a lot of needless hostage-taking — we can support everyone’s agenda here,” said Rep. Alexandria Ocasio-Cortez, D-N.Y. “The idea that we must split them apart or have them on different dates is an artificial construct in order to take people’s child care away.” “Realigning these two votes will bring our party together,” she told reporters. Even as they worked to keep both pieces of Biden’s agenda on track, Democratic leaders were confronting two more urgent fiscal deadlines: the lapse of government funding at midnight on Thursday and the breach of the federal debt ceiling, which would cause a default. Treasury Secretary Janet Yellen informed lawmakers on Tuesday that the deadline to avoid a default could come as early as Oct. 18, narrowing the window of time for Congress to act. Senate Republicans on Monday blocked an emergency spending bill that would have lifted the statutory limit on federal borrowing, forcing Democratic leaders to consider a new strategy for averting a fiscal crisis. On Tuesday, they blocked another procedural attempt by Senate Democrats to avoid a filibuster and raise the debt ceiling. Republicans have demanded that Democrats use the reconciliation process to raise the debt ceiling. But the maneuver would be complex and time-consuming, and House Democrats were considering taking up a separate bill raising the debt limit as early as Wednesday to continue pressuring the GOP on the issue.

Liberals dig in against infrastructure bill as party divisions persist

India's Foreign Secretary Harsh Shringla on Saturday (September 25) said that infrastructure partnership between Quad nations was independent of 'any other parameters', indirectly denying that Quad infra initiative was a counter to China's ambitious Belt and Road Initiative (BRI). He was responding to WION's Executive Editor Palki Sharma's question during press conference.

"You spoke about infrastructure partnership, can you detail something on the scale and scope of this? And is this comparable to China's BRI which has pushed countries into debt? Also, is Quad going to have a military dimension?" asked Palki Sharma.

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"The idea is to provide certain standards to provide a certain level of transparency," said Shringla.

Reading from a paper in his hand, Shringla said that Quad infrastructure partnership would look at "mapping region's infrastructure needs, co-ordinating regional needs and opportunities, providing technical assistance, empowering regional partners with evaluative tools, promoting sustainable infrastructure development"

On repeating the question on military angle of the Quad.&nbsp;Shringla avoided direct comment.

Also Read | <a href="https://www.wionews.com/world/quad-joint-statement-underlines-need-for-open-indo-pacific-undaunted-by-coercion-415748">Quad joint statement underlines need for open Indo-Pacific 'undaunted by coercion'</a>

Belt and Road Initiative (BRI) is China's ambitious infrastructure project that is expected to span Asia, Europe by land and even Africa via waterways. However, China's approach has raised alarm worldwide. The countries implementing BRI projects on their soil are often seen to get stuck in a debt trap thus keeping their economies at China's mercy.

Also Read | <a href="https://www.wionews.com/world/we-will-monitor-actions-not-the-words-of-the-taliban-japans-pm-415701">We will monitor actions, not the words of the Taliban: Japan's PM</a>

Quad grouping, comprising of Australia, India, Japan and the USA is often perceived as a group of nations that wants to contain growing Chinese assertiveness.

Quad countries had their first-ever in-person summit in Washington on Saturday (local time).&nbsp;

In the run-up to the Quad summit China expressed its displeasure as said that the grouping was “doomed to fail”.

India's Foreign Secretary Harsh Shringla on Saturday (September 25) said that infrastructure partnership between Quad nations was independent of 'any other parameters', indirectly denying that Quad infra initiative was a counter to China's ambitious Belt and Road Initiative (BRI).

India's Foreign Secretary Harsh Shringla on Saturday (September 25) said that infrastructure partnership between Quad nations was independent of 'any other parameters', indirectly denying that Quad infra initiative was a counter to China's ambitious Belt and Road Initiative (BRI). He was responding to WION's Executive Editor Palki Sharma's question during press conference. "You spoke about infrastructure partnership, can you detail something on the scale and scope of this? And is this comparable to China's BRI which has pushed countries into debt? Also, is Quad going to have a military dimension?" asked Palki Sharma. × "The idea is to provide certain standards to provide a certain level of transparency," said Shringla. Reading from a paper in his hand, Shringla said that Quad infrastructure partnership would look at "mapping region's infrastructure needs, co-ordinating regional needs and opportunities, providing technical assistance, empowering regional partners with evaluative tools, promoting sustainable infrastructure development" On repeating the question on military angle of the Quad. Shringla avoided direct comment. Also Read | Quad joint statement underlines need for open Indo-Pacific 'undaunted by coercion' Belt and Road Initiative (BRI) is China's ambitious infrastructure project that is expected to span Asia, Europe by land and even Africa via waterways. However, China's approach has raised alarm worldwide. The countries implementing BRI projects on their soil are often seen to get stuck in a debt trap thus keeping their economies at China's mercy. Also Read | We will monitor actions, not the words of the Taliban: Japan's PM Quad grouping, comprising of Australia, India, Japan and the USA is often perceived as a group of nations that wants to contain growing Chinese assertiveness. Quad countries had their first-ever in-person summit in Washington on Saturday (local time). In the run-up to the Quad summit China expressed its displeasure as said that the grouping was “doomed to fail”.

Quad infra partnership independent of BRI, Indian foreign secretary tells Wion

The US&nbsp;Senate in a rare Saturday session worked on a bill that would spend $1 trillion on roads, rail lines and other infrastructure, as lawmakers from both parties sought to advance President Joe Biden's top legislative priority. 
 
The ambitious plan has the backing of Democrats and Republicans alike and has already cleared two hurdles by broad margins in the closely divided Senate. 
 
But so far lawmakers have not seen the final text of the bill, which includes about $550 billion in new spending and was still being written on Saturday. Earlier votes were for a shell bill that the actual legislation will be added to once it is complete. 
 
US&nbsp;Democratic Senate leader Chuck Schumer said on the Senate floor that the bipartisan group working on the legislation needed additional time. "The Senate will remain in session today so they can bring this to a conclusion," Schumer said. 
 
"I know all the parties want to get this right. As soon as their legislative text is finalised, we'll review it and then I will offer it as a substitute amendment. After that, we can begin voting for amendments," the top Senate Democrat added. 
 
After passing the $1 trillion bill, Schumer aims to push forward on a sweeping $3.5 trillion package that focuses on climate change and home care for the elderly and children. That faces staunch Republican opposition and some dissent among moderate Democrats. 
 
"The Senate is going to move forward on both tracks of infrastructure before the beginning of the August recess. The longer it takes to finish, the longer we`ll be here. But we`re going to get the job done," Schumer said earlier on Saturday. 
 
The Senate voted 66-28 on Friday to take up the bill, with 16 Republicans joining all 48 Democrats and two independents in support. 
 
The package would dramatically increase the nation's spending on roads, bridges, transit and airports. Supporters predicted it will ultimately pass the Senate and House of Representatives, eventually reaching Biden's desk for him to sign it into law. 
 
It includes about $550 billion in new spending, on top of $450 billion that was previously approved. It also includes money for eliminating lead water pipes and building electric vehicle charging stations. 
 
The bill does not include funding for most climate change and social initiatives that Democrats aim to pass in the separate $3.5 trillion measure without Republican support. 
 
Democrats hold razor-thin margins in both the Senate and the House of Representatives, meaning the party must stick together to achieve its legislative goals. 
 
Progressive members of the House Democratic caucus have already suggested the $1 trillion package is inadequate, and the Senate could likewise impose changes that could complicate its chances of becoming law. 
 
But supporters, including Schumer and Republican Senate Minority Leader Mitch McConnell, have been optimistic about its prospects.

The US Senate in a rare Saturday session worked on a bill that would spend $1 trillion on roads, rail lines and other infrastructure, as lawmakers from both parties sought to advance President Joe Biden's top legislative priority.

The US Senate in a rare Saturday session worked on a bill that would spend $1 trillion on roads, rail lines and other infrastructure, as lawmakers from both parties sought to advance President Joe Biden's top legislative priority. The ambitious plan has the backing of Democrats and Republicans alike and has already cleared two hurdles by broad margins in the closely divided Senate. But so far lawmakers have not seen the final text of the bill, which includes about $550 billion in new spending and was still being written on Saturday. Earlier votes were for a shell bill that the actual legislation will be added to once it is complete. US Democratic Senate leader Chuck Schumer said on the Senate floor that the bipartisan group working on the legislation needed additional time. "The Senate will remain in session today so they can bring this to a conclusion," Schumer said. "I know all the parties want to get this right. As soon as their legislative text is finalised, we'll review it and then I will offer it as a substitute amendment. After that, we can begin voting for amendments," the top Senate Democrat added. After passing the $1 trillion bill, Schumer aims to push forward on a sweeping $3.5 trillion package that focuses on climate change and home care for the elderly and children. That faces staunch Republican opposition and some dissent among moderate Democrats. "The Senate is going to move forward on both tracks of infrastructure before the beginning of the August recess. The longer it takes to finish, the longer we`ll be here. But we`re going to get the job done," Schumer said earlier on Saturday. The Senate voted 66-28 on Friday to take up the bill, with 16 Republicans joining all 48 Democrats and two independents in support. The package would dramatically increase the nation's spending on roads, bridges, transit and airports. Supporters predicted it will ultimately pass the Senate and House of Representatives, eventually reaching Biden's desk for him to sign it into law. It includes about $550 billion in new spending, on top of $450 billion that was previously approved. It also includes money for eliminating lead water pipes and building electric vehicle charging stations. The bill does not include funding for most climate change and social initiatives that Democrats aim to pass in the separate $3.5 trillion measure without Republican support. Democrats hold razor-thin margins in both the Senate and the House of Representatives, meaning the party must stick together to achieve its legislative goals. Progressive members of the House Democratic caucus have already suggested the $1 trillion package is inadequate, and the Senate could likewise impose changes that could complicate its chances of becoming law. But supporters, including Schumer and Republican Senate Minority Leader Mitch McConnell, have been optimistic about its prospects.

US Senate in rare Saturday session on $1 trillion infrastructure bill

People living in the rural areas of Jammu and Kashmir will be provided with the same medical facilities that are available in cities now. Government is constructing 30 new oxygen plants in these far-flung areas and also providing high-standard medical equipment to these primary health hospitals.&nbsp;

The Jammu and Kashmir government with the help of the World Bank has been able to upgrade the medical Infrastructure in the Kashmir Valley. Previously, the people from rural areas had to come to the city for emergency cases. The inflow to the tertiary hospitals had increased manifold due to the Covid Pandemic.&nbsp;

And with the grant of 360 crores from the World Bank, people from the rural areas will benefit a lot. They won't have to come down to cities for medical treatments.&nbsp;

"Covid as a pandemic was a major challenge. The Economic Reconstruction Agency (ERA) is implementing a 250 million dollar project. 50 million project for covid related infrastructure. We have provided the best medical equipment to the peripheral areas of Kashmir. The primary health centres and district hospitals of these villages will have all the facilities needed.The management has improved remarkably. Patients had to travel from these remote places to Srinagar or Jammu for medical care. But now they won't have to," said Abid Rashid Shah, CEO, ERA

There are 30 new oxygen plants being set up across the Union Territory of Jammu and Kashmir. 15 will be constructed in Jammu while the rest in the Kashmir zone. 42 different types of latest Critical Care Medical Equipments have been procured and provided to these facilities. In central Kashmir's Budgam district, ERA is constructing a 500 LPMS oxygen plant at Charar-e-Shareef. This will cater to around 1.5 lakh people living in the area.&nbsp;

"This project is with regard to providing oxygen plants. There will be 15 plants in the Kashmir valley while 15 will be constructed in Jammu. This plant here in Chahrar-e-Shareef would be providing oxygen to 60 beds in a hospital. This will benefit the people living in villages as they have facilities available nearby now," said Shuja Qureshi, AEE, ERA.

The doctors working in these rural areas have appreciated the step and say that it will help them in treating patients in these primary care centres, district hospitals etc. Earlier any patient requiring high oxygen supply would be sent to a tertiary hospital in Srinagar or Jammu.&nbsp;

"We had to shift patients from these far flung areas to Srinagar for the requirement of high oxygen supply. Now that we have an oxygen plant here, we don't have to shift them any more. We can manage the patients here only. This is an excellent job done by the government and they made it in record time." said Dr Mushtaq, Surgeon at Sub-Division Hospital.&nbsp;

The installation of various vital medical equipment at these medical care facilities in the far-flung areas of Jammu and Kashmir will benefit the people and also take off the load of tertiary hospitals.

People living in the rural areas of Jammu and Kashmir will be provided with the same medical facilities that are available in cities now. Government is constructing 30 new oxygen plants in these far-flung areas and also providing high-standard medical equipment to these primary health hospitals.

People living in the rural areas of Jammu and Kashmir will be provided with the same medical facilities that are available in cities now. Government is constructing 30 new oxygen plants in these far-flung areas and also providing high-standard medical equipment to these primary health hospitals. The Jammu and Kashmir government with the help of the World Bank has been able to upgrade the medical Infrastructure in the Kashmir Valley. Previously, the people from rural areas had to come to the city for emergency cases. The inflow to the tertiary hospitals had increased manifold due to the Covid Pandemic. And with the grant of 360 crores from the World Bank, people from the rural areas will benefit a lot. They won't have to come down to cities for medical treatments. "Covid as a pandemic was a major challenge. The Economic Reconstruction Agency (ERA) is implementing a 250 million dollar project. 50 million project for covid related infrastructure. We have provided the best medical equipment to the peripheral areas of Kashmir. The primary health centres and district hospitals of these villages will have all the facilities needed.The management has improved remarkably. Patients had to travel from these remote places to Srinagar or Jammu for medical care. But now they won't have to," said Abid Rashid Shah, CEO, ERA There are 30 new oxygen plants being set up across the Union Territory of Jammu and Kashmir. 15 will be constructed in Jammu while the rest in the Kashmir zone. 42 different types of latest Critical Care Medical Equipments have been procured and provided to these facilities. In central Kashmir's Budgam district, ERA is constructing a 500 LPMS oxygen plant at Charar-e-Shareef. This will cater to around 1.5 lakh people living in the area. "This project is with regard to providing oxygen plants. There will be 15 plants in the Kashmir valley while 15 will be constructed in Jammu. This plant here in Chahrar-e-Shareef would be providing oxygen to 60 beds in a hospital. This will benefit the people living in villages as they have facilities available nearby now," said Shuja Qureshi, AEE, ERA. The doctors working in these rural areas have appreciated the step and say that it will help them in treating patients in these primary care centres, district hospitals etc. Earlier any patient requiring high oxygen supply would be sent to a tertiary hospital in Srinagar or Jammu. "We had to shift patients from these far flung areas to Srinagar for the requirement of high oxygen supply. Now that we have an oxygen plant here, we don't have to shift them any more. We can manage the patients here only. This is an excellent job done by the government and they made it in record time." said Dr Mushtaq, Surgeon at Sub-Division Hospital. The installation of various vital medical equipment at these medical care facilities in the far-flung areas of Jammu and Kashmir will benefit the people and also take off the load of tertiary hospitals.

Jammu & Kashmir: Health infrastructure upgraded in rural areas, World Bank helps

US President Joe Biden on Thursday announced that a deal has been reached with a&nbsp;bipartisan&nbsp;group of senators to rebuild the nation's&nbsp;infrastructure, likely unlocking the most funding for roads, bridges, ports and broadband in decades.

The lawmakers have "come together and forged an agreement that will create millions of American jobs, and modernize our American&nbsp;infrastructure&nbsp;to compete with the rest of the world and own the 21st century," Biden said at the White House.

The president sat down with the senators earlier in the day to cap weeks of tense negotiations on Capitol Hill, where Democrats and Republicans have squared off over the size and scope of the funding.

But Biden hailed the breakthrough as a shining example of how Washington can reach consensus on major investments when both parties work together -- essentially a validation of his call for bipartisanship on the most necessary aspects of governing.

He described the deal as "breaking the ice that too often has kept us frozen in place and prevented us from solving the real problem facing the American people."

The deal came together late Wednesday, with the senators agreeing on a $973 billion package over five years, with some $559 billion in new funding.

Biden stressed that the massive&nbsp;plan&nbsp;-- which includes the largest-ever investment in US bridges and public transport -- met his requirement of not raising taxes on anyone making under $400,000 per year.

"We're going to do it all without raising a cent" in new taxes, he said.&nbsp;

Instead, the&nbsp;plan&nbsp;is to boost enforcement of existing tax law to recover underreported taxes from wealthier Americans.&nbsp;

"No one got everything they wanted in this package. We all gave some to get some because what we did was put first the needs of our country," said Senator Kyrsten Sinema, a centrist Democrat from Arizona.

"This does represent a&nbsp;historic investment in our country's&nbsp;infrastructure."

Republican Senator Bill Cassidy agreed, calling the bill "great progress."

"A&nbsp;bridge&nbsp;is coming near you. Not right away, not tomorrow, not next year," he said. "But we've begun the process."

'Tandem' bills&nbsp;

But negotiations on&nbsp;infrastructure&nbsp;are not over; selling the&nbsp;plan&nbsp;to Congress is just beginning.

Biden has proposed some $2 trillion in&nbsp;infrastructure&nbsp;spending over eight years, including funding for some of his priorities like climate change mitigation, child care, schools and social services.

Republicans firmly opposed any inclusion of such projects in the deal, saying only traditional&nbsp;infrastructure&nbsp;like roads, airports or broadband internet should be included.

But Democratic leaders are insisting that the "human&nbsp;infrastructure" projects be funded in a second track known as budget reconciliation, which can pass the 100-member Senate with a simple majority rather than the 60 votes necessary to advance major legislation.

<a href="https://www.wionews.com/world/covid-19-delta-variant-is-infecting-vaccinated-people-says-israel-393811">Also Read |&nbsp;COVID-19: Delta variant is infecting vaccinated people, says Israel</a>

"We will not take up a bill in the House until the Senate passes a&nbsp;bipartisan&nbsp;bill and a reconciliation bill," House Speaker Nancy Pelosi warned earlier Thursday.

That statement drew applause from progressive Democrats, including congresswoman Alexandria Ocasio-Cortez.

Senate Majority Leader Chuck Schumer said the first votes on the&nbsp;bipartisan&nbsp;bill should be held in July.

He also said that while he was "encouraged" by the progress of the&nbsp;bipartisan&nbsp;group, he -- like Pelosi -- insists on two bills operating in tandem.

"If the Senate is going to move forward with a&nbsp;bipartisan&nbsp;infrastructure&nbsp;bill, we must also move forward on a budget resolution as well," he said.

Biden expressed support for that very&nbsp;plan, saying he will work to ensure that "both move through the legislative process promptly, and in tandem," and that if they both do not reach his desk, he will not sign either of them into law.

The president acknowledged he had no guarantee that the plans had enough votes to cross the finish line, but said that his several decades in Washington have given him "a pretty good read" of Congress.

US President Joe Biden on Thursday announced that a deal has been reached with a bipartisan group of senators to rebuild the nation's infrastructure, likely unlocking the most funding for roads, bridges, ports and broadband in decades.

US President Joe Biden on Thursday announced that a deal has been reached with a bipartisan group of senators to rebuild the nation's infrastructure, likely unlocking the most funding for roads, bridges, ports and broadband in decades. The lawmakers have "come together and forged an agreement that will create millions of American jobs, and modernize our American infrastructure to compete with the rest of the world and own the 21st century," Biden said at the White House. The president sat down with the senators earlier in the day to cap weeks of tense negotiations on Capitol Hill, where Democrats and Republicans have squared off over the size and scope of the funding. But Biden hailed the breakthrough as a shining example of how Washington can reach consensus on major investments when both parties work together -- essentially a validation of his call for bipartisanship on the most necessary aspects of governing. He described the deal as "breaking the ice that too often has kept us frozen in place and prevented us from solving the real problem facing the American people." The deal came together late Wednesday, with the senators agreeing on a $973 billion package over five years, with some $559 billion in new funding. Biden stressed that the massive plan -- which includes the largest-ever investment in US bridges and public transport -- met his requirement of not raising taxes on anyone making under $400,000 per year. "We're going to do it all without raising a cent" in new taxes, he said. Instead, the plan is to boost enforcement of existing tax law to recover underreported taxes from wealthier Americans. "No one got everything they wanted in this package. We all gave some to get some because what we did was put first the needs of our country," said Senator Kyrsten Sinema, a centrist Democrat from Arizona. "This does represent a historic investment in our country's infrastructure." Republican Senator Bill Cassidy agreed, calling the bill "great progress." "A bridge is coming near you. Not right away, not tomorrow, not next year," he said. "But we've begun the process." 'Tandem' bills But negotiations on infrastructure are not over; selling the plan to Congress is just beginning. Biden has proposed some $2 trillion in infrastructure spending over eight years, including funding for some of his priorities like climate change mitigation, child care, schools and social services. Republicans firmly opposed any inclusion of such projects in the deal, saying only traditional infrastructure like roads, airports or broadband internet should be included. But Democratic leaders are insisting that the "human infrastructure" projects be funded in a second track known as budget reconciliation, which can pass the 100-member Senate with a simple majority rather than the 60 votes necessary to advance major legislation. Also Read | COVID-19: Delta variant is infecting vaccinated people, says Israel "We will not take up a bill in the House until the Senate passes a bipartisan bill and a reconciliation bill," House Speaker Nancy Pelosi warned earlier Thursday. That statement drew applause from progressive Democrats, including congresswoman Alexandria Ocasio-Cortez. Senate Majority Leader Chuck Schumer said the first votes on the bipartisan bill should be held in July. He also said that while he was "encouraged" by the progress of the bipartisan group, he -- like Pelosi -- insists on two bills operating in tandem. "If the Senate is going to move forward with a bipartisan infrastructure bill, we must also move forward on a budget resolution as well," he said. Biden expressed support for that very plan, saying he will work to ensure that "both move through the legislative process promptly, and in tandem," and that if they both do not reach his desk, he will not sign either of them into law. The president acknowledged he had no guarantee that the plans had enough votes to cross the finish line, but said that his several decades in Washington have given him "a pretty good read" of Congress.

White House, lawmakers strike deal on infrastructure

The Group of Seven rich nations will announce on Saturday a new global infrastructure plan as a response to China's belt and road intiative, a senior official in US&nbsp;President Joe Biden's administration said. 
 
The official, who spoke to reporters on condition of anonymity, said the United States would also push the other G7 leaders for 'concrete action on forced labour' in China, and to include criticism of Beijing in their final communique. 
 
"This is not just about confronting or taking on China," the official said. "But until now we haven't offered a positive alternative that reflects our values, our standards and our way of doing business." 
 
China’s Belt and Road Initiative (BRI) is a multi-trillion-dollar infrastructure scheme launched in 2013 by President Xi Jinping involving development and investment initiatives that would stretch from Asia to Europe and beyond. 
 
More than 100 countries have signed agreements with China to cooperate in BRI projects like railways, ports, highways and other infrastructure. 
 
According to a Refinitiv database, as of mid-last year, more than 2,600 projects at a cost of $3.7 trillion were linked to the initiative, although the Chinese foreign ministry said last June that about 20% of projects had been seriously affected by the COVID-19 pandemic. 
 
In March, Biden said he had suggested to British Prime Minister Boris Johnson, who is hosting the three-day G7 leaders' summit in southwest England, that democratic countries should develop their own rival scheme. 
 
The US&nbsp;official said until now, the West had failed to offer a positive alternative to the 'lack of transparency, poor environmental and labour standards, and coercive approach' of the Chinese government that had left many countries worse off. 
 
"So tomorrow we’ll be announcing ‘build back better for the world,’ an ambitious new global infrastructure initiative with our G7 partners that won’t just be an alternative to the B and I (Belt and Road)," the official said. 
 
In talks, Biden will also press the other leaders to make clear that they believe forced labour practices were an affront to human dignity and "an egregious example of China’s unfair economic competition" to show that they were serious about defending human rights. 
 
"We’re pushing on being specific on areas like Xinjiang where forced labour is taking place and where we have to express our values as a G7," the official said of the final communique to be issued at the end of the summit on Sunday, 
 
There were no specifics on how the global infrastructure scheme would be funded. The plan would involve raising hundreds of billions in public and private money to help close a $40 trillion infrastructure gap in needy countries by 2035, the official said 
 
The aim was to work with Congress to supplement existing development financing "with the hope that together with G7 partners, the private sector and other stakeholders we soon be collectively catalysing hundreds of billions of dollars in infrastructure investment for low and middle income countries that need it". 
 
(With inputs from agencies)

The Group of Seven rich nations will announce on Saturday a new global infrastructure plan as a response to China's belt and road intiative, a senior official in US President Joe Biden's administration said.

The Group of Seven rich nations will announce on Saturday a new global infrastructure plan as a response to China's belt and road intiative, a senior official in US President Joe Biden's administration said. The official, who spoke to reporters on condition of anonymity, said the United States would also push the other G7 leaders for 'concrete action on forced labour' in China, and to include criticism of Beijing in their final communique. "This is not just about confronting or taking on China," the official said. "But until now we haven't offered a positive alternative that reflects our values, our standards and our way of doing business." China’s Belt and Road Initiative (BRI) is a multi-trillion-dollar infrastructure scheme launched in 2013 by President Xi Jinping involving development and investment initiatives that would stretch from Asia to Europe and beyond. More than 100 countries have signed agreements with China to cooperate in BRI projects like railways, ports, highways and other infrastructure. According to a Refinitiv database, as of mid-last year, more than 2,600 projects at a cost of $3.7 trillion were linked to the initiative, although the Chinese foreign ministry said last June that about 20% of projects had been seriously affected by the COVID-19 pandemic. In March, Biden said he had suggested to British Prime Minister Boris Johnson, who is hosting the three-day G7 leaders' summit in southwest England, that democratic countries should develop their own rival scheme. The US official said until now, the West had failed to offer a positive alternative to the 'lack of transparency, poor environmental and labour standards, and coercive approach' of the Chinese government that had left many countries worse off. "So tomorrow we’ll be announcing ‘build back better for the world,’ an ambitious new global infrastructure initiative with our G7 partners that won’t just be an alternative to the B and I (Belt and Road)," the official said. In talks, Biden will also press the other leaders to make clear that they believe forced labour practices were an affront to human dignity and "an egregious example of China’s unfair economic competition" to show that they were serious about defending human rights. "We’re pushing on being specific on areas like Xinjiang where forced labour is taking place and where we have to express our values as a G7," the official said of the final communique to be issued at the end of the summit on Sunday, There were no specifics on how the global infrastructure scheme would be funded. The plan would involve raising hundreds of billions in public and private money to help close a $40 trillion infrastructure gap in needy countries by 2035, the official said The aim was to work with Congress to supplement existing development financing "with the hope that together with G7 partners, the private sector and other stakeholders we soon be collectively catalysing hundreds of billions of dollars in infrastructure investment for low and middle income countries that need it". (With inputs from agencies)

G7 to counter China's belt and road with infrastructure project: Senior US official

India will have to invest heavily in infrastructure in order to recover from the economic havoc brought on by the coronavirus pandemic, even if that means going in for deficit financing, according to a UN expert. 
 
"A crisis often presents an opportunity" and making the right investments can have a multiplier effect in steering the economies to recovery, while also making a monumental difference in people's lives," Hamid Rashid, the head of the UN Development Research Branch, said on Wednesday in an exclusive interview to said. 
 
"We may feel a little despondent right now in terms of what is happening in India, but there`s a silver lining in our view as well," he said, citing the possibilities for public sector investment in vital areas and the signs of progress in containing the pandemic. 
 
Developing countries like India do not have the option of financing a stimulus programme like the US has done but they can make substantial public sector investments to stimulate the economy, he said. 
 
The government should prioritise two sectors, digital and health, for investments, he said. 
 
"This is also an opportunity for governments, and for the public sector, to increase investment in health infrastructure, increase investment in digital infrastructure, and that will create jobs and that will create demand for more goods and services, and that will restart the economic engine," he said. 
 
"Right now you see the oxygen shortages as a huge constraint for India, in terms of saving lives. So, this is an opportunity for creating the right environment so the businesses can invest more in building health capacities," he said. 
 
There is also a need to bridge the digital divide, he said. 
 
India and other similarly placed countries do not have the option of raising taxes to meet the investment requirements and they may have to resort to deficit financing, which he said is not a bad idea if the investments are properly made. 
 
"Deficit financing is basically borrowing from the future," he said. 
 
"I believe deficit financing institution like this is not only necessary so it`s a must," he said. "You have to take the risk and when businesses can`t take risks when the private sector or hospitals cannot take risks, the only entity that can take risk is the government." 
 
"So public sector spending is that we have seen in crisis after crisis. Public investment is what brings countries out of crises," he said. 
 
With deficit spending, "one has to be very careful about targeting the right sector, targeting the right investment", he said. "Otherwise it can create a huge debt burden, going forward, public debt would balloon". 
 
China had used investments to stage its recovery, he said while contrasting the Western and Chinese models. 
 
There is the Western model of fighting the crisis through "a demand-side support, giving money to the households or you can create more jobs through investment", he said. 
 
"China chose the path of increasing investment during the pandemic, and so it created lots of jobs, and now the demand is picking up and China`s recovery is on the way" and it would have a growth rate of 8.2 per cent this year, he said. 
 
Rashid`s branch makes the economic forecasts that are the basis for policy suggestions and he is the lead author of the UN`s flagship economic report, World Economic Situation and Prospects. 
 
The mid-year report released on Tuesday, forecast that India`s economy would grow by 7.5 per cent this year and rebound to 10.3 per cent next year. 
 
When the report was being prepared, Rashid said, "We were just seeing the tip of the second wave. And of course, if I do revise the numbers right now, I would probably be a little bit, even less optimistic than 7.5 per cent when there are significant downside risks." 
 
"But, having said that, we still believe there`s huge room for a recovery in India because we are starting from a very low base," he added. 
 
The UN estimated that India`s economy shrank last year by 6.8 per cent. 
 
"Last year, there was a significant contraction of the economy. So this is basically recovering the lost ground, so there`ll be quite a bit of lost ground recovered, and that would give the growth, assuming that pandemic comes under control within a month or so," he said. 
 
If the Covid-19 surge "continues for several months or a full quarter, then this would be a very difficult target (and) we`ll probably see a significant downgrade when we update our number for the end of the year", he added. 
 
"But so far, we remain optimistic that 7.5 per cent growth rate is still possible for India," he said. 
 
While infections are coming down significantly in Delhi and Mumbai and other major cities, there`s still concern about the pandemic spreading to rural areas, he said. 
 
"We have to make sure that we are able to contain the spread of the virus and things don`t get any worse than it already is. So, our best hope is that probably the worst is behind us, in terms of the spread of the pandemic in India, and there are some containment measures that are effective," he added. 
 
Asked about the most important requirement for India`s economy to recover from the havoc of the pandemic, Rashid responded, "It`s vaccination, vaccination, vaccination." 
 
It would restore consumer confidence and business confidence that are very critical to a recovery, he said. 
 
"When you see news reports every day and they shatter our confidence, businesses will not be willing to invest if they don`t see any light at the end of the tunnel and consumers will not be spending, if they feel that there are bad days ahead," he said. 
 
"So, this is about managing expectation and right now, the best way to manage expectations of the future of the economy is to make sure everyone gets vaccinated as quickly as possible," he added. 
 
While vaccinating a population of 1.4 billion would take time, he said that other steps can be intensified to control the Covid-19 outbreak as had been done last year. 
 
"Your experience with the first wave was quite positive and quite successful. I think the combination of vaccination and social distancing and other measures would work, may not do the magic, but would still be able to contain the spread further."

India will have to invest heavily in infrastructure in order to recover from the economic havoc brought on by the coronavirus pandemic, even if that means going in for deficit financing, according to a UN expert.

India will have to invest heavily in infrastructure in order to recover from the economic havoc brought on by the coronavirus pandemic, even if that means going in for deficit financing, according to a UN expert. "A crisis often presents an opportunity" and making the right investments can have a multiplier effect in steering the economies to recovery, while also making a monumental difference in people's lives," Hamid Rashid, the head of the UN Development Research Branch, said on Wednesday in an exclusive interview to said. "We may feel a little despondent right now in terms of what is happening in India, but there`s a silver lining in our view as well," he said, citing the possibilities for public sector investment in vital areas and the signs of progress in containing the pandemic. Developing countries like India do not have the option of financing a stimulus programme like the US has done but they can make substantial public sector investments to stimulate the economy, he said. The government should prioritise two sectors, digital and health, for investments, he said. "This is also an opportunity for governments, and for the public sector, to increase investment in health infrastructure, increase investment in digital infrastructure, and that will create jobs and that will create demand for more goods and services, and that will restart the economic engine," he said. "Right now you see the oxygen shortages as a huge constraint for India, in terms of saving lives. So, this is an opportunity for creating the right environment so the businesses can invest more in building health capacities," he said. There is also a need to bridge the digital divide, he said. India and other similarly placed countries do not have the option of raising taxes to meet the investment requirements and they may have to resort to deficit financing, which he said is not a bad idea if the investments are properly made. "Deficit financing is basically borrowing from the future," he said. "I believe deficit financing institution like this is not only necessary so it`s a must," he said. "You have to take the risk and when businesses can`t take risks when the private sector or hospitals cannot take risks, the only entity that can take risk is the government." "So public sector spending is that we have seen in crisis after crisis. Public investment is what brings countries out of crises," he said. With deficit spending, "one has to be very careful about targeting the right sector, targeting the right investment", he said. "Otherwise it can create a huge debt burden, going forward, public debt would balloon". China had used investments to stage its recovery, he said while contrasting the Western and Chinese models. There is the Western model of fighting the crisis through "a demand-side support, giving money to the households or you can create more jobs through investment", he said. "China chose the path of increasing investment during the pandemic, and so it created lots of jobs, and now the demand is picking up and China`s recovery is on the way" and it would have a growth rate of 8.2 per cent this year, he said. Rashid`s branch makes the economic forecasts that are the basis for policy suggestions and he is the lead author of the UN`s flagship economic report, World Economic Situation and Prospects. The mid-year report released on Tuesday, forecast that India`s economy would grow by 7.5 per cent this year and rebound to 10.3 per cent next year. When the report was being prepared, Rashid said, "We were just seeing the tip of the second wave. And of course, if I do revise the numbers right now, I would probably be a little bit, even less optimistic than 7.5 per cent when there are significant downside risks." "But, having said that, we still believe there`s huge room for a recovery in India because we are starting from a very low base," he added. The UN estimated that India`s economy shrank last year by 6.8 per cent. "Last year, there was a significant contraction of the economy. So this is basically recovering the lost ground, so there`ll be quite a bit of lost ground recovered, and that would give the growth, assuming that pandemic comes under control within a month or so," he said. If the Covid-19 surge "continues for several months or a full quarter, then this would be a very difficult target (and) we`ll probably see a significant downgrade when we update our number for the end of the year", he added. "But so far, we remain optimistic that 7.5 per cent growth rate is still possible for India," he said. While infections are coming down significantly in Delhi and Mumbai and other major cities, there`s still concern about the pandemic spreading to rural areas, he said. "We have to make sure that we are able to contain the spread of the virus and things don`t get any worse than it already is. So, our best hope is that probably the worst is behind us, in terms of the spread of the pandemic in India, and there are some containment measures that are effective," he added. Asked about the most important requirement for India`s economy to recover from the havoc of the pandemic, Rashid responded, "It`s vaccination, vaccination, vaccination." It would restore consumer confidence and business confidence that are very critical to a recovery, he said. "When you see news reports every day and they shatter our confidence, businesses will not be willing to invest if they don`t see any light at the end of the tunnel and consumers will not be spending, if they feel that there are bad days ahead," he said. "So, this is about managing expectation and right now, the best way to manage expectations of the future of the economy is to make sure everyone gets vaccinated as quickly as possible," he added. While vaccinating a population of 1.4 billion would take time, he said that other steps can be intensified to control the Covid-19 outbreak as had been done last year. "Your experience with the first wave was quite positive and quite successful. I think the combination of vaccination and social distancing and other measures would work, may not do the magic, but would still be able to contain the spread further."

India will have to invest heavily in infrastructure for economy to recover: UN expert

As US President Joe Biden unveiled a $2 trillion infrastructure plan, US Senate Minority leader Mitch McConnell has lodged a protest,&nbsp;vowing to "fight every step of the way" against it.

Also read |&nbsp;<a href="https://www.wionews.com/world/biden-outlines-far-reaching-plan-to-reengineer-us-infrastructure-374638">Biden outlines far-reaching plan to reengineer US infrastructure</a>

“I'm going to fight them every step of the way because I think this is the wrong prescription for America," he said.

Biden has proposed to finance the spending through an increase of corporate tax from 21 per cent to 28 per cent.

McConnell has described this tax increase of the plan as a "Trojan horse" and has denied supporting the plan in its present form.

<a href="https://www.wionews.com/videos/gravitas-joe-bidens-2000000000000-infra-plan-374856">Watch |</a>

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/gravitas-joe-bidens-2000000000000-infra-plan-374856/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

"I think that package that they're putting together now as much as we would like to address infrastructure is not going to get support from our side," McConnell said. "I think... the last thing the economy needs right now is a big whooping tax increase on all the productive sections of our economy."

McConnell also feels Biden’s plan has "more money for electric cars than roads and bridges".

While the White House is aiming to gather support from the Democratic and Republican members of the Congress, McConnell’s resistance can delay or shelf the plan’s approval completely.

Generally, 60 votes are required to pass legislation into the final law. However, in some cases, a simple majority can pass budget-related bills. The Democrats are hoping to achieve the same result as the Coronavirus relief bill, which was passed in March solely by Democratic support.

As US President Joe Biden unveiled a $2 trillion infrastructure plan, US Senate Minority leader Mitch McConnell has lodged a protest, vowing to "fight every step of the way" against it.

As US President Joe Biden unveiled a $2 trillion infrastructure plan, US Senate Minority leader Mitch McConnell has lodged a protest, vowing to "fight every step of the way" against it. Also read | Biden outlines far-reaching plan to reengineer US infrastructure “I'm going to fight them every step of the way because I think this is the wrong prescription for America," he said. Biden has proposed to finance the spending through an increase of corporate tax from 21 per cent to 28 per cent. McConnell has described this tax increase of the plan as a "Trojan horse" and has denied supporting the plan in its present form. Watch | "I think that package that they're putting together now as much as we would like to address infrastructure is not going to get support from our side," McConnell said. "I think... the last thing the economy needs right now is a big whooping tax increase on all the productive sections of our economy." McConnell also feels Biden’s plan has "more money for electric cars than roads and bridges". While the White House is aiming to gather support from the Democratic and Republican members of the Congress, McConnell’s resistance can delay or shelf the plan’s approval completely. Generally, 60 votes are required to pass legislation into the final law. However, in some cases, a simple majority can pass budget-related bills. The Democrats are hoping to achieve the same result as the Coronavirus relief bill, which was passed in March solely by Democratic support.

Mitch McConnell to fight Joe Biden's $2 trillion infrastructure plan 'every step of the way'

In an exclusive interview with WION's Palki Sharma, Former Lankan PM Ranil Wickremesinghe has said that Sri Lanka is making a serious mistake by cancelling infrastructure & aid projects with India, Japan & US Watch the full interview here.

Gravitas: Exclusive: Ranil Wickremesinghe on WION

Finance Minister Nirmala Sitharaman on Tuesday unveiled Rs 102 lakh crore of infrastructure projects to be implemented in the next five years as part of the government's spending push in the sector.

Addressing a press conference, she said Prime Minister Narendra Modi had in his Independence Day speech spoke of investing Rs 100 lakh crore in infrastructure.

Later, a task force identified Rs 102 lakh crore worth of projects after conducting 70 stakeholder consultations in a short span of four months as part of the National Infrastructure Pipeline (NIP).

Sitharaman said another Rs 3 lakh crore of projects are likely to be added to this pipeline.

"This will enable a forward outlook on infrastructure projects which will create jobs, improve ease of living and provide equitable access to infrastructure for all, thereby making growth more inclusive," she said.

Out of total expected capital expenditure of Rs 102 lakh crore under NIP, projects worth Rs 42.7 lakh crore are under implementation, projects worth Rs 32.7 lakh crore are in conceptualisation stage and the rest under development.

These projects are on top of Rs 51 lakh crore — or 5 to 6 per cent of the GDP — spent by the Centre and states in the past six years, said Sitharaman adding the new pipeline consists of 39 per cent projects each by the Centre and states and the balance by 22 per cent by private sector.

She said the projects identified are in sectors such as power, railways, urban irrigation, mobility, education and health. During the fiscals 2020 to 2025, sectors such as energy (24 per cent), roads (19 per cent), urban (16 per cent) and railways (13 per cent) amount to about 70 per cent of the projected capital expenditure in infrastructure.

The finance minister said the Rs 102 lakh crore NIP will help make India a five trillion dollar economy by 2025.

She said an annual global investor meet will be organised, the first edition of which will be held in the second half of 2020. Besides, there will be an annual supplementary report issued every year as part of a robust monitoring framework.

The government is committed to strict enforcement of contracts accompanied with a dispute settlement mechanism, said Sitharaman.

Finance Minister Nirmala Sitharaman on Tuesday unveiled Rs 102 lakh crore of infrastructure projects to be implemented in the next five years as part of the government's spending push in the sector.

Finance Minister Nirmala Sitharaman on Tuesday unveiled Rs 102 lakh crore of infrastructure projects to be implemented in the next five years as part of the government's spending push in the sector. Addressing a press conference, she said Prime Minister Narendra Modi had in his Independence Day speech spoke of investing Rs 100 lakh crore in infrastructure. Later, a task force identified Rs 102 lakh crore worth of projects after conducting 70 stakeholder consultations in a short span of four months as part of the National Infrastructure Pipeline (NIP). Sitharaman said another Rs 3 lakh crore of projects are likely to be added to this pipeline. "This will enable a forward outlook on infrastructure projects which will create jobs, improve ease of living and provide equitable access to infrastructure for all, thereby making growth more inclusive," she said. Out of total expected capital expenditure of Rs 102 lakh crore under NIP, projects worth Rs 42.7 lakh crore are under implementation, projects worth Rs 32.7 lakh crore are in conceptualisation stage and the rest under development. These projects are on top of Rs 51 lakh crore — or 5 to 6 per cent of the GDP — spent by the Centre and states in the past six years, said Sitharaman adding the new pipeline consists of 39 per cent projects each by the Centre and states and the balance by 22 per cent by private sector. She said the projects identified are in sectors such as power, railways, urban irrigation, mobility, education and health. During the fiscals 2020 to 2025, sectors such as energy (24 per cent), roads (19 per cent), urban (16 per cent) and railways (13 per cent) amount to about 70 per cent of the projected capital expenditure in infrastructure. The finance minister said the Rs 102 lakh crore NIP will help make India a five trillion dollar economy by 2025. She said an annual global investor meet will be organised, the first edition of which will be held in the second half of 2020. Besides, there will be an annual supplementary report issued every year as part of a robust monitoring framework. The government is committed to strict enforcement of contracts accompanied with a dispute settlement mechanism, said Sitharaman.

Government unveils Rs 102 lakh crore infrastructure projects for next 5 years

Moody's Investors Service on Friday took rating action on 11 Indian financial institutions (FIs), eight non-financial corporates and eight sovereign-linked Indian infrastructure companies, a day after it changed the outlook on India's Baa2 sovereign rating to negative from stable.

Moody's revised its outlook of six FIs to negative from stable. They are Exim India, HDFC Bank, Hero FinCorp, Housing and Urban Development Corporation, Indian Railway Finance Corporation and State Bank of India. The rating outlooks for Bank of India, Canara Bank, Syndicate Bank and Union Bank of India are maintained at stable.

Separately, Moody's downgraded the long-term counterparty risk assessment and long-term local currency counterparty risk rating of HDFC Bank's Bahrain branch and ICICI Bank's Bahrain Branch to Ba2(cr) from Ba1(cr) and Ba2 from Ba1 to align these ratings with Bahrain's local currency ceilings.

Also for ICICI Bank Bahrain Branch, Moody's downgraded the long-term foreign currency senior unsecured medium-term note programme rating and subordinate medium-term note programme rating to (P)Ba3 from (P)Ba2 to align these ratings with Bahrain's foreign currency bond ceiling.

Besides, Moody's changed the outlook to negative on ratings of eight non-financial corporates. They include Bharat Petroleum Corporation Ltd, Hindustan Petroleum Corporation Ltd, Indian Oil Corporation Ltd, Oil and Natural Gas Corporation Ltd, Oil India Ltd, Petronet LNG Ltd, Infosys Ltd and Tata Consultancy Services Ltd.

Similar action was taken against eight sovereign-linked infrastructure companies. They include NTPC Ltd, NHPC Ltd, National Highways Authority of India, Gail India Ltd, Power Grid Corporation of India Ltd, Adani Green Energy Restricted Group (RG-2) comprising of Wardha Solar (Maharashtra) Pvt Ltd, Adani Renewable Energy Ltd and Adani Transmission Restricted Group.

Moody's Investors Service on Friday took rating action on 11 Indian financial institutions (FIs), eight non-financial corporates and eight sovereign-linked Indian infrastructure companies, a day after it changed the outlook on India's Baa2 sovereign rating to negative from stable.

Moody's Investors Service on Friday took rating action on 11 Indian financial institutions (FIs), eight non-financial corporates and eight sovereign-linked Indian infrastructure companies, a day after it changed the outlook on India's Baa2 sovereign rating to negative from stable. Moody's revised its outlook of six FIs to negative from stable. They are Exim India, HDFC Bank, Hero FinCorp, Housing and Urban Development Corporation, Indian Railway Finance Corporation and State Bank of India. The rating outlooks for Bank of India, Canara Bank, Syndicate Bank and Union Bank of India are maintained at stable. Separately, Moody's downgraded the long-term counterparty risk assessment and long-term local currency counterparty risk rating of HDFC Bank's Bahrain branch and ICICI Bank's Bahrain Branch to Ba2(cr) from Ba1(cr) and Ba2 from Ba1 to align these ratings with Bahrain's local currency ceilings. Also for ICICI Bank Bahrain Branch, Moody's downgraded the long-term foreign currency senior unsecured medium-term note programme rating and subordinate medium-term note programme rating to (P)Ba3 from (P)Ba2 to align these ratings with Bahrain's foreign currency bond ceiling. Besides, Moody's changed the outlook to negative on ratings of eight non-financial corporates. They include Bharat Petroleum Corporation Ltd, Hindustan Petroleum Corporation Ltd, Indian Oil Corporation Ltd, Oil and Natural Gas Corporation Ltd, Oil India Ltd, Petronet LNG Ltd, Infosys Ltd and Tata Consultancy Services Ltd. Similar action was taken against eight sovereign-linked infrastructure companies. They include NTPC Ltd, NHPC Ltd, National Highways Authority of India, Gail India Ltd, Power Grid Corporation of India Ltd, Adani Green Energy Restricted Group (RG-2) comprising of Wardha Solar (Maharashtra) Pvt Ltd, Adani Renewable Energy Ltd and Adani Transmission Restricted Group.

Moody's takes rating action on 12 Indian FIs, 8 corporates, 8 sovereign-linked infra firms

In a big boost to strengthen rural infrastructure, <a href="https://www.wionews.com/india-news/valmiki-community-in-jk-was-deprived-of-basic-rights-until-abrogation-of-article-370-pm-modi-255632">Prime Minister Narendra Modi</a> on Sunday said that Rs 25 lakh crore will be spent on infrastructural development in the villages across the country. 
 
"The rural economy of the country is now being given as much attention as never before. Already the work is going on on the roads of the village. Now in the coming years, Rs 25 lakh crore will be spent to develop infrastructure in the villages. The money will also be used to construct modern storage centres for crops," he said. 
 
Addressing an election rally at Sakoli, the Prime Minister said the work is being done with a larger vision for farmers. 
 
"We have tried to change the situation and have taken steps to solve the problems of farmers permanently," he said. 
 
Modi also highlighted that Rs 3.5 lakh crore will be used for water conservation and building facilities for water conservation. 
 
"We started the Jal Jeevan Mission as soon as we formed the government for the second time. In the coming years, Rs 3.5 lakh crore will be used for water conservation and building facilities for water conservation," he said. 
 
"When pure water is made available to everyone, you and your cattle will be healthier. The industry will develop swiftly in drought-hit regions with the proper supply of water. This will provide new sources of employment," he added. 
 
The Prime Minister called upon the people to develop hotels and other infrastructure facilities in Bhandara to attract tourists in the region. 
 
"This entire area is full of forests ... There is a lot of potential for tourism here. The area also has plenty of products produced by tribal society. It is important to make Chulband river and Nagzhira National Park more attractive to tourists. It will pave the way for self-employment of local people," he said. 
 
PM Modi said the projects related to the development of tribal areas and their self-employment is in full swing. 
 
"A comprehensive network of Eklavya Model School is being prepared by the government to enhance the education and skills of tribal children," added Modi. 
 
<a href="https://www.wionews.com/india-news/pm-modi-rahul-gandhi-to-rally-for-maharashtra-assembly-polls-on-sunday-255572">The Assembly polls in Maharashtra are scheduled for October 21 along with Haryana</a>. The counting of votes will take place on October 24.

In a big boost to strengthen rural infrastructure, Prime Minister Narendra Modi on Sunday said that Rs 25 lakh crore will be spent on infrastructural development in the villages across the country.

In a big boost to strengthen rural infrastructure, Prime Minister Narendra Modi on Sunday said that Rs 25 lakh crore will be spent on infrastructural development in the villages across the country. "The rural economy of the country is now being given as much attention as never before. Already the work is going on on the roads of the village. Now in the coming years, Rs 25 lakh crore will be spent to develop infrastructure in the villages. The money will also be used to construct modern storage centres for crops," he said. Addressing an election rally at Sakoli, the Prime Minister said the work is being done with a larger vision for farmers. "We have tried to change the situation and have taken steps to solve the problems of farmers permanently," he said. Modi also highlighted that Rs 3.5 lakh crore will be used for water conservation and building facilities for water conservation. "We started the Jal Jeevan Mission as soon as we formed the government for the second time. In the coming years, Rs 3.5 lakh crore will be used for water conservation and building facilities for water conservation," he said. "When pure water is made available to everyone, you and your cattle will be healthier. The industry will develop swiftly in drought-hit regions with the proper supply of water. This will provide new sources of employment," he added. The Prime Minister called upon the people to develop hotels and other infrastructure facilities in Bhandara to attract tourists in the region. "This entire area is full of forests ... There is a lot of potential for tourism here. The area also has plenty of products produced by tribal society. It is important to make Chulband river and Nagzhira National Park more attractive to tourists. It will pave the way for self-employment of local people," he said. PM Modi said the projects related to the development of tribal areas and their self-employment is in full swing. "A comprehensive network of Eklavya Model School is being prepared by the government to enhance the education and skills of tribal children," added Modi. The Assembly polls in Maharashtra are scheduled for October 21 along with Haryana. The counting of votes will take place on October 24.

PM Modi says Rs 25 lakh crore will be spent on infrastructure development in rural areas

Rescuers in <a href="https://www.wionews.com/world/four-bodies-found-two-still-missing-after-taiwan-bridge-collapse-253187">Taiwan</a> searched on Wednesday for the last fisherman believed to have been crushed in his boat when a bridge collapsed into a harbour, killing at least five people, as questions were raised about construction standards.

Divers joined hundreds of rescuers in the search effort, using cranes and excavators to raise the wreckage of two fishing boats after Tuesday's accident injured ten&nbsp;people, most of them fishermen from <a href="https://www.wionews.com/world/hundreds-arrested-after-fresh-indonesia-legal-reforms-protests-253022">Indonesia</a> and the Philippines.

"Rescuers found the body of a foreign fisherman, while the search for one missing foreign fisherman continues", the National Fire Agency said in a statement in the early afternoon.

Dramatic video images released by Taiwan's Coast Patrol Corps showed the arched bridge in the northeastern town of Suao collapsing just as an oil tanker was crossing. Plumes of black smoke went up when the cargo of fuel burst into flames.

It was not immediately known what caused the collapse, which crushed three boats and set the tanker ablaze.

The bridge, dubbed the "lovers' bridge", was built in 1998 and was a tourist attraction.

The incident shocked many in Taiwan, which is regularly hit by earthquakes and typhoons and has high building standards, prompting authorities to launch a review of bridges.

The government has set up a task force to investigate, with <a href="https://www.wionews.com/world/taiwan-leader-meets-solomons-envoy-to-shore-up-ties-over-china-248580">President Tsai Ing-wen </a>vowing not to "evade responsibilities".

Suao's mayor, Lee Ming-Che, told Reuters residents had raised a concern about the bridge's load limit, saying trucks carrying blocks of concrete for a construction project near the harbour had caused "shakings" when crossing the bridge.

Taiwan International Ports Corporation (TIPC), which managed the bridge's maintenance and oversees nearby the project, said it had completed a safety review before allowing the trucks to use the bridge.

"The project was evaluated and proven to be fine," said Wang Chin-Jung, associate general manager of TIPC, referring to the bridge's load limit.

"We will check if there's any problem with the bridge's design, construction and maintenance... We will not evade responsibilities if we have any," Wang said.

TIPC said the bridge was regularly checked and maintained, and that the company had observed safety regulations.

The bridge was last reinforced in 2018 and another security check was due next year, the company said. Problems such as rusty steel and cracks in concrete had been fixed during a check last October, it said.

Rescuers in Taiwan searched on Wednesday for the last fisherman believed to have been crushed in his boat when a bridge collapsed into a harbour, killing at least five people, as questions were raised about construction standards.

Rescuers in Taiwan searched on Wednesday for the last fisherman believed to have been crushed in his boat when a bridge collapsed into a harbour, killing at least five people, as questions were raised about construction standards. Divers joined hundreds of rescuers in the search effort, using cranes and excavators to raise the wreckage of two fishing boats after Tuesday's accident injured ten people, most of them fishermen from Indonesia and the Philippines. "Rescuers found the body of a foreign fisherman, while the search for one missing foreign fisherman continues", the National Fire Agency said in a statement in the early afternoon. Dramatic video images released by Taiwan's Coast Patrol Corps showed the arched bridge in the northeastern town of Suao collapsing just as an oil tanker was crossing. Plumes of black smoke went up when the cargo of fuel burst into flames. It was not immediately known what caused the collapse, which crushed three boats and set the tanker ablaze. The bridge, dubbed the "lovers' bridge", was built in 1998 and was a tourist attraction. The incident shocked many in Taiwan, which is regularly hit by earthquakes and typhoons and has high building standards, prompting authorities to launch a review of bridges. The government has set up a task force to investigate, with President Tsai Ing-wen vowing not to "evade responsibilities". Suao's mayor, Lee Ming-Che, told Reuters residents had raised a concern about the bridge's load limit, saying trucks carrying blocks of concrete for a construction project near the harbour had caused "shakings" when crossing the bridge. Taiwan International Ports Corporation (TIPC), which managed the bridge's maintenance and oversees nearby the project, said it had completed a safety review before allowing the trucks to use the bridge. "The project was evaluated and proven to be fine," said Wang Chin-Jung, associate general manager of TIPC, referring to the bridge's load limit. "We will check if there's any problem with the bridge's design, construction and maintenance... We will not evade responsibilities if we have any," Wang said. TIPC said the bridge was regularly checked and maintained, and that the company had observed safety regulations. The bridge was last reinforced in 2018 and another security check was due next year, the company said. Problems such as rusty steel and cracks in concrete had been fixed during a check last October, it said.

Taiwan divers search for trapped fisherman after bridge collapse kills five

Saudi Arabia, the world’s biggest oil exporter is looking at investing $100 billion in India in petrochemicals, infrastructure and mining among many other sectors.

At a time when India is facing an economic slowdown, Saudi Arabia is likely to invest $ 100 billion in different areas, considering the country’s growth potential.

In an interview to a leading Indian news agency, Saudi Ambassador Dr Saud bin Mohammed Al Sati said that the Arab nation is eyeing on having a long term partnership with India in various sectors including oil, gas, agriculture and mining.

This announcement comes days after oil giant Aramco and reliance industries announced a strategic tie-up with Saudi Aramco proposing to invest $44 billion in the west coast refinery and a petrochemical project in Maharashtra.

Saudi Arabia is a key pillar of India's energy security, being a source of 17% crude oil and 32% LPG requirements in India with the current bilateral trade between India and Saudi Arabia at $34 billion.

Saudi Arabia, the world’s biggest oil exporter is looking at investing $100 billion in India in petrochemicals, infrastructure and mining among many other sectors.

Saudi Arabia, the world’s biggest oil exporter is looking at investing $100 billion in India in petrochemicals, infrastructure and mining among many other sectors. At a time when India is facing an economic slowdown, Saudi Arabia is likely to invest $ 100 billion in different areas, considering the country’s growth potential. In an interview to a leading Indian news agency, Saudi Ambassador Dr Saud bin Mohammed Al Sati said that the Arab nation is eyeing on having a long term partnership with India in various sectors including oil, gas, agriculture and mining. This announcement comes days after oil giant Aramco and reliance industries announced a strategic tie-up with Saudi Aramco proposing to invest $44 billion in the west coast refinery and a petrochemical project in Maharashtra. Saudi Arabia is a key pillar of India's energy security, being a source of 17% crude oil and 32% LPG requirements in India with the current bilateral trade between India and Saudi Arabia at $34 billion.

Saudi Arabia looking at $100-billion investment in Indian petrochemicals, infrastructure and mining

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