NAMASKAR! A warm welcome to 'World News: an Indian perspective on All India Radio.This is R.S.RAGHU and with me is RENUKA bringing glimpses of the major developments of the day from across the globe. Over the next half an hour, we shall bring you the latest from the world of politics, economy, sports, entertainment and more.

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THE HEADLINES::

• India and Vietnam sign Joint Vision Statement on defence partnership towards 2030;Defence Minister Rajnath Singh holds bilateral talks with his Vietnamese counterpart in Hanoi.

• Ministry of Environment, Forest and Climate Change of India Rebuts the Environmental Performance index 2022 released recently.

• Reserve Bank of India's Monetary Policy increases repo rate by 50 basis points to 4.90%.

• Today is World Ocean Day.

• In Sports, P.V. Sindhu and Lakshya Sen sail into pre quarter final of Indonesia Masters Badminton Tournament.

• Legend of Indian Women's cricket, Mithali Raj announces her retirement from all forms of international cricket.

• India to take on South Africa in opening encounter of five match T20 series at Arun Jaitley Stadium in Delhi on Thursday evening.

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FUR. REV DAY. RAJNATH-VIETNAM

India's Defence Minister Rajnath Singh said Vietnam is an important partner in India’s Act East policy and Indo-Pacific vision. He said, India and Vietnam share a Comprehensive Strategic Partnership and Defence Cooperation is a key pillar of this partnership. Mr. Singh is on a three day official visit to Vietnam.

On the first day of his visit, Defence Minister Rajnath Singh visited the Mausoleum of the founding father of Vietnam, former President Ho Chi Minh and paid homage to the great leader. He held bilateral meeting with the Vietnam’s Minister of National Defence General,Pham Van Giang in Hanoi. After the meeting, Rajnath Singh said, India-Vietnam close defence and security cooperation is an important factor of stability in the Indo-Pacific region. Rajnath Singh is also scheduled to call on the President of Vietnam Nguyen Xuan Phuc and Prime Minister Pham Minh Chinh.

At the Hong Ha Shipyard in Hai Phong, Rajnath Singh will preside over the handing over ceremony of 12 High Speed Guard Boats constructed under the Government of India’s 100 million US dollar Defence Line of Credit to Vietnam.

Mr. Singh will also visit the training institutions of Vietnam at Nha Trang, including the Telecommunication University where an Army Software Park is being established with five million US dollar grant from Government of India. He will also attend a community event organised by the Embassy of India situated in Hanoi and interact with the Indian diaspora.

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INDIA-ENVIRONMENTAL INDEX

India has rebutted the Environmental Performance Index- 2022 released recently.

Environment, Forest and Climate Change Ministry said, the index has many indicators based on unfounded assumptions. It said, some of these indicators used for assessing performance are extrapolated and based on estimations and unscientific methods.

The Ministry said it does not accept the EPI analysis and conclusions.

It said, both forests and wetlands of the country are crucial carbon sinks which have not been factored in while computing the projected greenhouse gas emissions trajectory up to 2050 given by the index. The Ministry said, the weight of indictors in which India was performing well has been reduced and reasons for change in assignment of weights has not been explained in the report. The indicators on Water quality, Water use efficiency, Waste Generation per capita which are closely linked to Sustainable Consumption and Production are not included in the index.

EPI 2022 Report based on Global Carbon Budget 2021  shows that India has one of the lowest emission trajectories vis a vis Other Countries as well as the Rest of the World. Hence,without factoring this aspect, the use of biased metrics and biased weights has resulted in a low rank. This also shows that the indicator based on data for only the past 10 years, does not take into account the historical responsibility of the developed countries.

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DAY RBI-MONETARY POLICY

The Reserve Bank of India on Wednesday increased the repo rate by 50 basis points to 4.90 per cent. The current repo rate is 4.40 per cent after the rates were increased by 40 basis points at an off-cycle meeting of the Monetary Policy Committee.

RBI Governor Shaktikanta  Das said that  the Standing Deposit Facility and Marginal Standing Facility rates also raised by 50 basis points. Standing Deposit Facility rate is now 4.65 per cent, while Marginal Standing Facility rate is at 5.15 per cent.

The RBI Governor said that the Russia-Ukraine war has led to globalisation of inflation. He said that the Inflation has steeply increased much beyond the tolerance level. Process of recovery in emerging market economies is also getting affected. But the Indian economy has remained resilient.

A gradual withdrawal of the extraordinary accommodation has been started. RBI will continue to be proactive and decisive in mitigating the fallout of geopolitical crisis on our economy. The  steps will be measured, calibrated, Mr Das added.

The RBI also revised inflation projection for FY23 to 6.7 per cent from 5.7 per cent earlier.

Stating on inflation Das said, Inflation likely to remain above 6 per cent in first three quarters of current fiscal. "Our steps will be calibrated, focussed on bringing down inflation to target level," the RBI Governor said.

Inflation projection for April-June has been revised to 7.5 per cent from 6.3 per cent, for July-September it has been revised to 7.4 per cent from 5.8 per cent.

Inflation projection for October-December has been revised to 6.2 per cent from 5.4 per cent,while for January-March 2023 it has been updated to 5.8 per cent from 5.1 per cent.

The real GDP forecast for FY23 has been retained at 7.2 per cent. Shaktikanta Das Said.

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Hotspot

In our HOTSPOT section today, AIR News has a special feature on "8 years of Service, Good Governance and Welfare of the Poor-Tech Powered India"

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WORLD OCEAN DAY

Today is World Ocean Day. The Day is celebrated every year on June 8 to raise public awareness of the ocean and its resources in order to promote global ocean and resource sustainability. The purpose of the Day is also to inform the public of the impact of human actions on the ocean, develop a worldwide movement of citizens for the ocean, and mobilize and unite the world’s population on a project for the sustainable management of the world's oceans.The theme for this year  is "Revitalization: Collective Action for the Ocean".  A report:

The ocean covers over 70 percent of the planet. According to the UN, oceans produce about 50 percent of the planet’s oxygen and are home to earth’s biodiversity. It is the main source of protein for more than a billion people around the world. The ocean is key to economy with an estimated 40 million people being employed by ocean-based industries by 2030. It is also the life source, supporting humanity’s sustenance and that of every other organism on earth.

However, over the years, Oceans had to witness 90 percent depletion of big fish populations and destruction of 50 percent of coral reefs due to reckless human activities. It is an urgent need to work together to create a new balance with the ocean that no longer depletes its bounty but instead restores its vibrancy and brings it new life.  With V.VARUGHESE, report's, Manal Saeed, AIR News.

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JAISHANKAR-IRAN FOREIGN MINISTER

India's External Affairs Minister Dr S. Jaishankar held wide ranging discussion with his Iranian counterpart Dr. Hossein Amir-Abdollahian in New Delhi on Wednesday. They reviewed the bilateral cooperation, including in trade, connectivity, health and people to people ties.

The Ministers also exchanged views on global and regional issues including Joint Comprehensive Plan of Action, Afghanistan and Ukraine. Both Ministers witnessed signing of an agreement on mutual legal assistance in civil and commercial matters.

Dr. Hossein Amir-Abdollahian arrived in New Delhi on Tuesday. He is also scheduled to visit Mumbai and Hyderabad.

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CHINA – BRICS

The BRICS nations comprising Brazil, Russia, India, China and South Africa have vowed to deepen financial cooperation and customs cooperation. Chinese state media reported that BRICS countries agreed to strengthening coordination on macroeconomic policy at a virtual meeting of finance ministers and central bank governors of the five-member bloc on Monday which was co-chaired by China's Central Bank Governor Yi Gang and finance minister Liu Kun. The meeting discussed topics such as improving the Contingent Reserve Arrangement and the cooperation of transition finance and other areas. Finance minister Nirmala Sitharaman, who participated virtually in the meeting, said that India's growth will be driven by fiscal spending. Ms. Sitharaman said BRICS should continue to serve as a platform to engage in dialogues and facilitate exchange of experiences, concerns and ideas for rebuilding a sustainable and inclusive growth trajectory. Customs authorities of BRICS countries also vowed to deepen cooperation on intelligent customs at a virtual meeting on Tuesday.

Customs cooperation between BRICS countries has seen fruitful results since the establishment of the cooperation mechanism in 2013, while bilateral trade has maintained steady growth, said Sun Yuning, deputy head of the General Administration of Customs of China. China's bilateral trade with BRICS countries totaled 490.42 U.S. billion dollars in 2021, up 39.2 percent year on year, higher than the overall level of China's foreign trade in the same period, according to official data. All parties should gradually improve the intelligence level of customs infrastructure, supervision methods and administrative management, and form cross-border coordinated governance among border administration departments, Sun said. Against current risks and challenges, the participants pledged to ensure that the customs authorities of BRICS countries continue to work together to safeguard the international supply chain and promote rapid economic and trade recovery among BRICS countries. China is this year’s chair of the BRICS and is expected to hold the annual summit of the five-member bloc this month.

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RUSSIA-UKRAINE-CONFLICT

Russia claimed that it has assumed control over almost all of Luhansk province in Eastern Ukraine on Tuesday. Russian Defense Minister Sergei Shoigu said, Moscow's forces now control 97% of Luhansk province, part of the Donbas region. Shoigu said, Russian troops were also advancing toward the town of Popasna, and they have taken control of Lyman and Sviatohirsk and 15 other towns in the region. However, Ukrainian officials said, their troops are standing their ground in fierce fighting with Moscow’s forces in the streets of the region’s key industrial city of Sievierodonetsk. Russian attacks and Ukrainian counter-attacks have been reported in the city over the past several days during fierce fighting. The battle for Sievierodonetsk is crucial to Moscow’s attempt to assume full domination over Luhansk province.  Both Russia and Ukraine claim to have inflicted huge casualties on each other.

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SRILANKA- CRISIS

Sri Lankan Prime Minister Ranil Wickremesinghe on  Wednesday said that the country needs at least 5 billion dollar over the next six months to pay for essential goods. Mr. Ranil Wickremesinghe told Srilankan parliament, the money is needed for basic items such as food,fuel and fertiliser. Mr Wickremesinghe, who is also the country's finance minister, told parliament that more money was required this year to meet Sri Lanka's basic needs. The Prime Minister added that, the United Nations also plans to make a worldwide appeal for Sri Lanka, and has pledged 48 million dollar for food, agriculture and healthcare. He also warned of a slowdown in government payments to businesses and workers across the country, as funds are redirected to pay for food supplies. In May, Sri Lanka defaulted on its debts with international lenders for the first time in its history as it faces its worst economic crisis in more than 70 years. The country has held bailout talks with the International Monetary Fund.

The country's economy has been hit hard by the pandemic, rising energy prices, and populist tax cuts. A shortage of medicines, fuel and other essentials has also casued to push the cost of living to record highs.

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BADMINTON-Indonesia Masters

In badminton, Indian shuttlers P. V. Sindhu and Lakshya Sen  on Wednesday moved into the pre-quarter-final round at the Indonesia Masters Tournament being held at the Istora Senayan Arena in Jakarta, Indonesia.

Lakshya Sen defeated Hans-Kristian Vittinghus 21-10, 21-18 in the Men's singles while P. V.

Sindhu outclassed Danish shuttler Line Christophersen 18-21, 21-15, 21-11. Sen defeated Vittinghus expertly in straight sets to advance to the subsequent round of the competition.

In Women's singles, Sindhu lost the first game of the fixture to Christophersen by a narrow margin. But, she came back strongly to win the following two games and round off a victory that sealed her place in the round of 16.

In another tie, in Men's singles event, Sameer Verma lost to Indonesian Chico Aura Dwi Wardoyo 17-21,15-21 in two straight games in the opening round. In Women's singles,Aakarshi Kashyap also lost the match against Beiwen Zhang 12-21 ,11-21 in the opening round.

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EVE. MITHALI-RETIREMENT

The legend of Indian Women's cricket, Mithali Raj announced her retirement from all forms of international cricket at the age of 39 years on Wednesday. She retired from T20 way back in September 2019, but continued to play in ODIs and Test matches. Mithali retires as the leading run-getter in women's ODIs. She represented India in 232 matches, scoring 7,805 runs at an average of 50.68.  Mithali made her international debut in June 1999, in an ODI against Ireland. She captained India in the ICC Women's World Cup earlier this year in New Zealand, where India failed to qualify for the semi-finals. It was under her captaincy that India reached the final of the 2017 ICC Women's World Cup, where they narrowly lost to England. Mithali was also captain of the team in 2005 when India  lost to Australia in the final of the ICC Women's World Cup.More in this report –

One of the most elegant batters in world cricket, Mithali Raj first gave a glimpse of her class with her performance with the willow at a tender age of 19 where she scored 214 runs against England in the second and final Test at Taunton. Her calm and composed batting style has always grabbed eyeballs. Her batting used to   reflect copy book style cricket composed with smooth footwork, strong straight drives, delicate late cuts and lovely hooks and pulls. Need less to say, her absence in Indian cricket will create an unfulfillable void. Adieu Mithali, the Indian cricket fans will never forget your valuable contribution.With Pratyush Ghosh's report,Renu Kataria, AIR News, Delhi.

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REV. INDIA-SA - T20 SERIES

In cricket, the five match Twenty-20 International series between India and South Africa will start from Thursday. The inaugural match will be played at Arun Jaitley Stadium in Delhi tomorrow from 7 p.m. Rishabh Pant will lead India in the T20 series following designated Skipper K. L. Rahul getting ruled out due to a right groin injury. Temba Bavuma will take command of South African team.

The two teams will play the subsequent matches in Cuttack on 12th, Visakhapatnam on 14th,Rajkot on 17th and the last one in Bengaluru on 19th of this month. In view of the  upcoming T20 World Cup tournament, the bilateral series will be beneficial to prepare for the World Championship to be held in Australia.

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FPR 08 JUNE

Now let us take a look at the major developments around the world, as reported in the Foreign Press.

First we have a look at the press reports on China-

• Washington Post reports A Cambodian naval base being constructed with the assistance of China will include a portion for the exclusive use of the Chinese military. The Chinese and Cambodian governments have denied reports that Cambodia will allow a Chinese military presence at the Ream naval base on the Gulf of Thailand.

Now let's have a look at the press reports on Nepal-

• The Kathmandu Post reports that Prime Minister Sher Bahadur Deuba has stalled  the Cabinet reshuffle following consultions with coalition partners. He is said have done it to pre-empt disputes in ruling parties. On Sunday, the CPN (Unified Socialist), one of the partners in the ruling coalition, suddenly decided to recall four of its ministers with a view to sending a new set of leaders to replace them. This set in motion the speculation that a Cabinet reshuffle, with more changes of ministerial portfolios is in offing. On Monday, Prime Minister Deuba refused to change the ministers as recommended by the Unified Socialist.

Now let's have a look at the press reports on Pakistan-

• The News reports that Prime Minister Shehbaz Sharif pitches his idea of charter of economy while addressing day-long pre-budget seminar on Tuesday. Economy cannot be fixed until there is political stability, he said. The prime minister said since Pakistan’s inception 75 years back, the economic development in the initial 25 years and the economic development after that have a “stark” difference. The prime minister further said there was a need to develop rural areas as when people travel from underdeveloped to developed cities, they become a burden on the resources of that place.

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A QUICK LOOK AT THE HEADLINES ONCE AGAIN –

• India and Vietnam sign Joint Vision Statement on defence partnership towards 2030; Defence Minister Rajnath Singh holds bilateral talks with his Vietnamese counterpart in Hanoi.

• Ministry of Environment, Forest and Climate Change of India Rebuts the Environmental Performance index 2022 released recently.

• Reserve Bank of India's Monetary Policy increases repo rate by 50 basis points to 4.90%.

• Today is World Ocean Day.

• In Sports, P.V. Sindhu and Lakshya Sen sail into pre quarter final of Indonesia Masters Badminton Tournament.

• Legend of Indian Women's cricket, Mithali Raj announces her retirement from all forms of international cricket.

• India to take on South Africa in opening encounter of five match T20 series at Arun Jaitley Stadium in Delhi on Thursday evening.

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