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Mizoram CM convenes online meeting of High Level Task Force on North East Economic Corridor

Mizoram CM convenes online meeting of High Level Task Force on North East Economic Corridor

Canada News.Net27-06-2025
Aizawl (Mizoram) [India], June 26 (ANI): Mizoram Chief Minister Lalduhoma on Wednesday chaired an online meeting of the High Level Task Force on the North East Economic Corridor, set up by the Ministry of DoNER to accelerate economic growth in the North Eastern region of India.
As the Convener of the Task Force, Chief Minister Lalduhoma welcomed all participants and expressed his gratitude for their commitment to the region's development.
He outlined key challenges and priorities, particularly underscoring the urgent need for infrastructure development in the North East.
He noted that Mizoram's road density remains significantly below the national average and that other critical infrastructure sectors also require focused attention.
The Mizoram Chief Minister stressed that improved infrastructure will enhance regional connectivity and strengthen cross-border trade with neighbouring Asian countries, creating substantial employment opportunities in the process.
He also conveyed his appreciation to Union DoNER Minister Pu Jyotiraditya Scindia for his continued leadership and proactive role in advancing development in the North East.
Lalmalsawma Pachuau, Secretary of the Planning & Programme Implementation Department, Government of Mizoram, presented a report summarising key points from the first meeting consultations and inputs received from member states.
A detailed discussion of the findings and recommendations followed.
The meeting was attended by Jyotiraditya Scindia, Union Minister of DoNER; Conrad Sangma, Chief Minister of Meghalaya; Chandra Mohan Patowary, Minister from Assam; PK Singh, Chief Secretary of Manipur; V. Umashankar, Secretary, Ministry of Road Transport & Highways (MoRTH); and senior officials from the Department for Promotion of Industry and Internal Trade (DPIIT), among others.
Participants shared their perspectives and proposals, reaffirming their commitment to holding follow-up consultations to achieve a collective and coordinated approach to the corridor's development.
The Ministry of DoNER constituted the High-Level Task Force to identify key interventions and formulate actionable short-term, medium-term, and long-term strategies for the integrated development of the North East Economic Corridor. (ANI)
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Can the ZEV mandate survive political pressure and industry objections?
Can the ZEV mandate survive political pressure and industry objections?

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Can the ZEV mandate survive political pressure and industry objections?

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Worried about market turmoil, do Estelle, 62, and Blake, 54, need to work longer than planned?
Worried about market turmoil, do Estelle, 62, and Blake, 54, need to work longer than planned?

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Worried about market turmoil, do Estelle, 62, and Blake, 54, need to work longer than planned?

Estelle is planning to retire from her management job in December, 2026, when she will turn 63. Blake, her husband, is 54 and plans to continue working for a few more years at his small business. Estelle is earning $108,000 a year plus a bonus of $16,500, bringing her total pre-tax income to $124,500. Blake earns about $60,000 a year working remotely. While Estelle participates in some group savings plans at work, neither she nor Blake has a defined benefit pension plan. So with all her savings tied to financial market performance, she is worried about potential market turmoil fuelled by U.S. tariff policies. 'Should I delay my retirement so as not to have to risk withdrawing funds at a loss?' she writes in an e-mail. Now with $4-million, what's the best way for Mike and Miriam to deal with their capital gains? How can Seth, 53, and Maeve, 54, reach their goal of spending $120,000 a year in retirement? Their retirement spending goal is $100,000 a year after tax. 'Is it feasible?' she asks. We asked Barbara Knoblach, a certified financial planner at Money Coaches Canada in Edmonton, to look at Blake and Estelle's situation. Blake and Estelle live in Toronto, where they own a small, mortgage-free house, Ms. Knoblach says. They have no children and no plans to leave an inheritance. After she retires, they plan to stay in their home and spend about six months each year living abroad. 'Since Blake's work is remote, he can operate as a digital nomad,' the planner says. Around the time Estelle retires, they plan to take a dream vacation expected to cost $60,000 to $65,000. Estelle participates in three employer-sponsored group plans, a defined contribution pension plan, a non-registered employee savings plan and an employee profit-sharing plan. She contributes 7.8 per cent of her base salary to the pension plan, with a matching 11.7-per-cent employer contribution. She contributes 5.8 per cent of her base salary to the employee savings plan. And her employer contributes 2.9 per cent to the profit-sharing plan. In total, around $30,500 is set aside each year across these plans. Both Estelle and Blake make long-term personal investments. They maximize their tax-free savings accounts annually. She contributes about $10,000 annually to a spousal RRSP for Blake, while he contributes $3,300 per year to his own RRSP and occasionally tops it up with surplus funds. Are they on track if she retires as planned and he works until age 60? If not, how much longer does he need to work? Does she need to work part-time? Ms. Knoblach modelled several potential retirement scenarios. They assume a 2.1-per-cent inflation rate, a 5.5-per-cent rate of return on their investments and that their funds last till he reaches age 95, after which they would still have the equity in their house. Scenario 1: Estelle retires at the end of 2026; Blake retires at age 60 in 2032. Assuming registered account contributions have already been made for 2025, they will add $13,300 to RRSPs and $14,000 to their TFSAs in 2026. From 2027 onward, their household income will drop, and no further registered contributions will be made. Blake's business income will cover household cash flow. The projection shows that they could support an after-tax, inflation-adjusted spending level of $96,500 per year, just under their $100,000 goal. 'This scenario therefore projects slight underfunding and feels financially tight,' Ms. Knoblach says. Regarding the upcoming dream trip, their travel account holds about $34,500 but isn't being consistently funded and has been used for smaller trips. To fully fund the trip, they'll likely need to dip into retirement investments such as Estelle's non-registered savings plan, which would further reduce their retirement income potential, the planner says. Scenario 2: Blake works to the traditional retirement age of 65 and retires in 2037. With Estelle retired and Blake working until the end of the year in which he turns 65, they could reach an annual retirement income of $104,000 starting in 2027 – even without further contributions to registered accounts after 2026. Scenario 3: Estelle retires in 2026 but does part-time freelance work. If she earns about $20,000 a year in freelance income for two years starting in 2027, their annual spending power would reach $98,200. 'This is still slightly underfunded,' the planner says. Scenario 4: Estelle delays retirement until the end of 2028. By staying in her career job until then, she could continue earning and contributing roughly $30,000 annually to her group plans, Ms. Knoblach says. The couple could also continue contributing to their own registered accounts through 2028. In this scenario, they would achieve retirement income of $104,000 per year – even if Blake retires at 60. This approach would also allow them to retire around the same time, rather than several years apart. 'Estelle and Blake have not yet fully secured their desired retirement income,' the planner says. 'To meet their goal comfortably – and to leave room for unexpected expenses like home repairs or vehicle replacement – they should look for ways to extend their income-generating years.' Estelle expressed concern about retiring during a period of volatile financial markets, fearing she might have to sell investments at a loss, Ms. Knoblach says. 'This is a valid concern: Sequence of returns risk arises when markets decline early in retirement, forcing early withdrawals and reducing long-term portfolio growth,' she says. 'This risk is particularly relevant for portfolios heavily weighted toward equities, which is the case for Estelle and Blake. Her concern is therefore justified.' Although Estelle and Blake may want to avoid drawing down their investments in the next year or two, they should prepare for doing so regardless of market conditions. 'Before retiring, they should undergo a drawdown analysis to determine the optimal order of fund withdrawals,' the planner says. The accounts they plan to draw from (e.g., RRSPs) should hold several years' worth of required income in secure, low-volatility securities such as guaranteed investment certificates or short-term deposits. 'This will protect them from having to sell equities during market downturns.' Another way to reduce market exposure is to ensure their essential expenses (e.g., housing, groceries) are covered by reliable income streams. Although they don't have defined benefit pensions, they could consider converting Estelle's defined contribution pension into a life annuity, Ms. Knoblach says. 'Combined with government benefits, this would allow them to ride out market turbulence without having to touch their equities.' Lowering portfolio risk and maintaining liquid, or easily cashable, reserves should be done regardless of how the markets are behaving around the time of retirement, Ms. Knoblach says. Retiring during a market high can be riskier than retiring in a down market because pullbacks are more likely. 'Estelle and Blake should avoid being swayed by emotion or geopolitical events and instead focus on building a robust, resilient plan.' The people: Estelle, 62 going on 63, and Blake, 54. The problem: Will Estelle's retirement plan be derailed by volatile financial markets? How much longer should she and Blake work? The plan: Scenario 4, in which Estelle works another couple of years, offers the best financial security. Make sure they have cash holdings in the accounts they plan to draw from. Consider buying an annuity. Monthly net income: $10,755. Assets: Cash $10,385; other $49,090; her TFSA $124,770; his TFSA $151,845; her RRSP $357,700; his RRSP $295,230; her employer savings and DC pension plan $164,140; residence $1,200,000. Total: $2.35-million. Monthly outlays: Property tax $500; water, sewer, garbage $90; home insurance $110; electricity $140; heating $80; security $35; maintenance, garden $325; transportation $605; groceries $740; clothing $300; gifts, charity $150; vacation, travel $2,500; dining, drinks, entertainment $1,000; personal care $200; gym, club membership $600; sports, hobbies $300; subscriptions $70; health care $480; phones, TV, internet $255; monthly RRSPs $960; TFSAs $1,250. Total: $10,690 Liabilities: None. Want a free financial facelift? E-mail finfacelift@ Some details may be changed to protect the privacy of the persons profiled.

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