Economic Newsletter: August 2017


Government of India Decisions High Impact News
India to Build Five Yoga, Naturopathy Research Institutes
The Ministry of Ayurveda, Yoga and Naturopathy, Unani, Siddha and Homeopathy (AYUSH) recently approved plans to build five new research institutes for yoga and naturopathy. The institutes add to the Governing Body of Central Council for Research in Yoga and Naturopathy's existing institute at Rohini in Delhi. 
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Sri Lanka welcomes Sushma Swaraj to take part in Indian Ocean Conference
Sri Lanka today welcomed External Affairs Minister Sushma Swaraj's visit to the nation to attend two-day Indian Ocean Conference. India Foundation, a Delhi-based think tank, hosted the Indian Ocean Conference 2017 (IOC) in collaboration with Rajaratnam School of International Studies (RSIS), Singapore, and National Institute of Fundamental Studies (NIFS), Colombo--both research and study centres--and the theme of the conference is peace, progress and prosperity.
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Government to Build 'Spice Park,' Support Farmers in Telangana 
The Indian Government's Spices Board approved plans from the state Telangana government to build a spice park for turmeric in the city of Nizamabad. 
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Venkaiah Naidu elected 13th Vice-President of India
NDA nominee and former Union Minister Venkaiah Naidu was elected as the 13th Vice President of India after comfortably defeating Opposition candidate Gopalkrishna Gandhi in the Vice-Presidential election on Saturday.
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Government to Invest $36 Billion in Railway Projects
India's Cabinet Committee on Economic Affairs approved a number of railway projects totaling $36 billion to upgrade the lines' infrastructure, electricity and capacity. Plans include doubling the lines between Thiruvananthapuram in Kerala and Kanyakumari in Tamil Nadu and modernizing the Madurai-Vanchi Maniyachchi-Tuticorin line.
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71st Independence Day of India Celebrated in Sri Lanka 
The High Commission of India and the Indian expatriate community in Sri Lanka celebrated the 71st Independence Day of India on  15 August 2017 at India House in Colombo. At a flag hoisting ceremony, the High Commissioner, Taranjit Singh Sandhu, unfurled the National Flag and inspected a Guard of Honour presented by the BSF contingent.
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Government Announces Exchange-Traded Fund to Boost Growth 
The government and Finance Minister Arun Jaitley recently announced a new exchange-traded fund (ETF), Bharat-22, that is expected to raise a record $725 billion by March 2018. With stakes in six sectors, including energy, finance and utilities, the fund will be listed on stock exchanges and available for trading. 
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Indian Telecom Market To Cross Rs 6.6 Tn By 2020
The Minister of Communications Shri Manoj Sinha today said that the Indian telecom market has seen a paradigm shift from a voice centric to a data-centric market and expected that the market size would cross Rs 6.6 trillion in next 3 years. He said while voice business still contributes a large chunk towards operator revenues, data revenues have shown an exponential growth trajectory over the last few years.
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