logo

India seeks parliament's nod to additionally spend $5.9bln in 2024/25

Zawya10-03-2025

The Indian government has sought parliament's approval to additionally spend 514.63 billion rupees ($5.90 billion) on a net basis for the current financial year ending March 31, according to a statement released on Monday.
($1 = 87.2500 Indian rupees)
(Reporting by Nikunj Ohri; Editing by Jacqueline Wong)

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Pakistan hikes defence budget 20%, but overall spending is cut
Pakistan hikes defence budget 20%, but overall spending is cut

Gulf Today

time5 hours ago

  • Gulf Today

Pakistan hikes defence budget 20%, but overall spending is cut

Pakistan Tuesday hiked defence spending by 20% following last month's deadly conflict with India. The government of Prime Minister Shehbaz Sharif announced the increase as part of the budget for the fiscal year 2025-26, in which overall spending will be cut by 7% to 17.57 trillion rupees ($62 billion). Pakistan and India were pushed to the brink of war earlier this year after a gun massacre of tourists in Indian-controlled Kashmir, marking the biggest breakdown in relations between them since 2019. Weeks of tension followed, culminating in missile and drone strikes that resulted in dozens of fatalities on both sides of the border. Finance Minister Muhammad Aurangzeb said the government was allocating 2.55 trillion rupees ($9 billion) for defense compared with 2.12 trillion rupees in the previous budget. India in February increased its defense spending by 9.5%. Sharif told the Cabinet: "All economic indicators are satisfactory. After defeating India in a conventional war, now we have to go beyond it in the economic field as well.' Opposition members of the National Assembly verbally abused Aurangzeb, chanting slogans, throwing scrunched-up copies of the budget at him, whistling, and banging their desks as he gave his address. The coming year's defense allocation is considerably more than the government's expenditure on higher education, agricultural development, and mitigating climate-related risks, to which Pakistan is especially prone. Associated Press

Sharjah opens door to baseball championships
Sharjah opens door to baseball championships

Sharjah 24

time5 hours ago

  • Sharjah 24

Sharjah opens door to baseball championships

During the meeting, both sides explored avenues of cooperation to promote the sport and organise championships, in light of its significant popularity among Asian communities. The initiative also aims to add a new promotional platform for Sharjah, enhancing its regional and international presence through sports. A Global Brand with Regional Aspirations Baseball United was founded in November 2022 and supports 20 globally renowned teams, including the New York Yankees, Los Angeles Dodgers, and Boston Red Sox. As a recognised international brand, its championships attract millions of viewers around the world—in Asia, the United States, Canada, Japan, and Latin America. The organisation is now on its way to launching the first professional league involving teams from the Gulf Cooperation Council (GCC) countries and the Indian subcontinent. Foundations for the Game in Sharjah During the meeting, discussions were held on establishing a dedicated headquarters for the sport and developing baseball fields as a foundation for spreading the game. Plans include organising local competitions and hosting international championships in the future. The two sides also explored initiatives to launch youth academies and school programmes to scout talent, as well as leveraging the global league platform to market Sharjah as a sports, tourism, and educational destination for baseball. Sharjah's Competitive Edge Following the meeting, His Excellency Issa Hilal Al Hazami emphasised that Sharjah possesses the right environment to promote baseball, especially considering its popularity among Asian communities. He pointed out that the sport shares many similarities with cricket—a game that already holds a distinguished position in the Emirate, thanks to its large fan base and the iconic Sharjah Stadium, which hosts international championships. He stressed that incorporating baseball and participating in the Asian league would ensure guaranteed promotion and significant exposure for the emirate. Optimism for a Fruitful Partnership The head of the visiting delegation expressed his gratitude to the Chairman of the Council for the warm welcome and the positive outcomes of the meeting. He also conveyed his optimism about the anticipated collaboration between the two sides and the transformative impact this partnership could have on the sport both locally and internationally.

Climate change heightens risk of Indian farmer suicides
Climate change heightens risk of Indian farmer suicides

Gulf Today

timea day ago

  • Gulf Today

Climate change heightens risk of Indian farmer suicides

On a small farm in India's Maharashtra state, Mirabai Khindkar said the only thing her land grew was debt, after crops failed in drought and her husband killed himself. Farmer suicides have a long history in India, where many are one crop failure away from disaster, but extreme weather caused by climate change is adding fresh pressure. Dwindling yields due to water shortages, floods, rising temperatures and erratic rainfall, coupled with crippling debt, have taken a heavy toll on a sector that employs 45 percent of India's 1.4 billion people. Mirabhai's husband Amol was left with debts to loan sharks worth hundreds of times their farm's annual income, after the one-hectare soybean, millet and cotton plot withered in scorching heat. He swallowed poison last year. "When he was in the hospital, I prayed to all the gods to save him," said 30-year-old Mirabai, her voice breaking. Amol died a week later, leaving behind Mirabai and three children. Her last conversation with him was about debt. Their personal tragedy is replicated daily across Marathwada, a region in Maharashtra of 18 million, once known for fertile farmland. Last year, extreme weather events across India affected 3.2 million hectares (7.9 million acres) of cropland - an area bigger than Belgium - according to the New Delhi-based Centre for Science and Environment research group. Over 60 per cent of that was in Maharashtra. "Summers are extreme, and even if we do what is necessary, the yield is not enough," said Amol's brother and fellow farmer Balaji Khindkar. "There is not enough water to irrigate the fields. It doesn't rain properly." Between 2022 and 2024, 3,090 farmers took their own lives in Marathwada, an average of nearly three a day, according to India's Minister of Agriculture Shivraj Singh Chouhan. People walk across the dried-up Godavari river in Beed district in Maharashtra. File / AFP Government statistics do not specify what drove the farmers to kill themselves, but analysts point to several likely factors. "Farmer suicides in India are a consequence of the crisis of incomes, investment and productivity that you have in agriculture," said R. Ramakumar, professor of development studies at the Tata Institute of Social Sciences. Farming across many Indian smallholdings is done largely as it has been for centuries, and is highly dependent on the right weather at the correct time. "What climate change and its vulnerabilities and variabilities have done is to increase the risks in farming," Ramakumar said. This "is leading to crop failures, uncertainties... which is further weakening the economics of cultivation for small and marginal farmers." The government could support farmers with better insurance schemes to cope with extreme weather events, as well as investments in agricultural research, Ramakumar said. "Agriculture should not be a gamble with the monsoon." Faced with uncertain weather, farmers often look to stem falling yields by investing in fertilisers or irrigation systems. But banks can be reluctant to offer credit to such uncertain borrowers. Some turn to loan sharks offering quick cash at exorbitant interest rates, and risking catastrophe if crops fail. "It is difficult to make ends meet with just farming," Mirabai said, standing outside her home, a tin-roofed hut with patch-cloth walls. Khadija Bi (right), whose son Shaikh Latif Sheru, a farmer who committed suicide due to mounting financial loans, sits under the shade of a tree along with her family members at their farmland in Mochi Pimpalgaon village of Beed district. File / AFP Her husband's loans soared to over $8,000, a huge sum in India, where the average monthly income of a farming household is around $120. Mirabai works on other farms as a labourer but could not pay back the debt. "The loan instalments piled up," she said, adding that she wants her children to find jobs outside of farming when they grow up. "Nothing comes out of the farm." The agricultural industry has been in a persistent crisis for decades. And while Maharashtra has some of the highest suicide rates, the problem is nationwide. Thirty people in the farming sector killed themselves every day in 2022, according to national crime records bureau statistics. At another farm in Marathwada, 32-year-old farmer Shaikh Imran took over the running of the family smallholding last year after his brother took his own life. He is already more than $1,100 in debt after borrowing to plant soybean. The crop failed. Meanwhile, the pop of explosives echoes around as farmers blast wells, hoping to hit water. "There's no water to drink," said family matriarch Khatijabi. "Where shall we get water to irrigate the farm?" Agence France-Presse

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store