Akashvani , National news, All India Radio News

NAMASKAR! A warm welcome to 'World News: an Indian perspective on AKASHVANI.This is GEETANJALI MATHUR  bringing glimpses of the major developments of the day from across the globe. Over the next half an hour, we shall bring to you the latest from the world of politics, economy, sports, entertainment and more.

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THE HEADLINES:

• India approves one lakh crore rupee for World’s Largest Grain Storage Plan in Cooperative Sector.

• India launches Electronics Repair Services Outsourcing to make India Repair Capital of the World.

• Former Pakistan Prime Minister Imran Khan gets bail till June 19 in Al-Qadir Trust case.

• Russia says Ukrainian shelling killed five, drone sparked fire at refinery.

• India’s GDP grows 7.2 percent in FY23; 6.1 percent in January-March quarter.

• Morgan Stanley says India gained significant position in world order with positive consequences for macro and market outlook.

• US House vote on debt ceiling deal brokered by President Joe Biden, Speaker Kevin McCarthy on Wednesday.

• India urges protesting wrestlers not to take any step that would undermine sports; Assures support to athletes.

• In Frech Open, Serbian Novak Djokovic to take on Hungarian tennis star Márton Fucsovics tonight.

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CABINET  

India on Wednesday approved one lakh crore rupee scheme to increase grain storage capacity in cooperative sector. Briefing media in New Delhi, India's Information and Broadcasting Minister Anurag Singh Thakur said the Cabinet chaired by Prime Minister Narendra Modi approved the constitution and empowerment of an Inter Ministerial Committee for facilitation of the World’s Largest Grain Storage Plan in Cooperative Sector. In order to ensure time bound and uniform implementation of the Plan in a professional manner, Ministry of Cooperation will implement a pilot project in at least ten selected Districts of different States and UTs in the country. Cabinet has also goven its nod to City Investments to Innovate, Integrate and Sustain 2.0 for integrated urban management. CITIIS 2.0 is a program conceived by Ministry of Housing and Urban Affairs in partnership with the French Development Agency (AFD), Kreditanstalt für Wiederaufbau, European Union, and National Institute of Urban Affairs. The program will run for a period of four years, from 2023 till 2027. The program envisages to support competitively selected projects promoting circular economy with focus on integrated waste management at the city level, climate-oriented reform actions at the State level, and institutional strengthening and knowledge dissemination at the National level.

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GOVT - ERSO PROJECT

India on Wednesday launched Electronics Repair Services Outsourcing, ERSO, Pilot initiative to validate certain transformational policy and process changes to make India the Repair Capital of the World in line with the vision of Prime Minister Narendra Modi to make the country a global electronics powerhouse. Ministry of Electronics and Information Technology, Central Board of Indirect Taxes and Customs, Directorate General of Foreign Trade and Ministry of Environment, Forest and Climate Change converged with industry to effect transformational policy and process changes that would make India the most attractive repair destination for ICT products globally. Over the next five years, India’s ERSO industry is likely to fetch India a upto 20 billion dollars in revenue and also generate millions of jobs.

India's Ministry of Electronics and Information Technology said, the project has been identified as a game changer for India and has been supported by the Government to make India a world leader in a hitherto untapped domain.

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PRADHAN - SINGAPORE PEER

India's Education and Skill Development Minister Dharmendra Pradhan on Wednesday met his Singapore Counterpart Chan Chun Sing on the last day of his three-day visit to Singapore. Both the Ministers had fruitful conversations on further strengthening the bilateral cooperation and deepening engagements in all areas of education and skill development. Speaking on the occasion, Mr Pradhan said that India and Singapore remain committed to work together for mutual and global prosperity. He said, Skills Future envisions to make Singapore a nation of lifelong learners and a society that values skills mastery. The Minister highlighted that continuous education and lifelong learning is also the core of National Education Policy in India. He said that insights gained from the meeting will add value to India's efforts of transforming skill ecosystem, creating a future-ready workforce and harnessing the full potential of the young demography to drive national progress.

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DUBAI-MARITIME COALITION

The United Arab Emirates (UAE) has announced its withdrawal from a maritime coalition led by the United States. The decision comes after a thorough assessment of its security requirements, according to the UAE's Ministry of Foreign Affairs. The ministry stated that the UAE had pulled out of the Combined Maritime Forces two months ago as part of its ongoing evaluation of effective security cooperation with all partners. The UAE emphasized its commitment to dialogue, diplomatic engagement, and the promotion of regional security and stability. This move represents a significant turning point in the geopolitical landscape of the region and has the potential to reshape international cooperation in maritime security.

The maritime coalition, headquartered at a US naval base in Bahrain, was established with the aim of countering terrorism and piracy in the Red Sea and Gulf areas.

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G20-ILO

The Indian G20 Presidency is organizing the third Employment Working Group EWG meeting starting Wednesday at  International Labour Organization ILO headquarters in Geneva, Switzerland. It is a G20 tradition since the inception of the EWG, to organize an Employment Working Group at the side-lines of the ILO’s annual International Labour Conference at Geneva. 78 delegates from twenty G20 member countries, nine guest countries and four International Organizations are attending the meeting. The meeting commenced with the opening remarks of Secretary Labour and Employment and Chair- EWG Arti Ahuja who urged the EWG to be mindful of its responsibilities and come out with concrete outcomes with clear deliverables for the sake of the countries’ populations and their prosperity.

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HOTSPOT

In today's hotspot section, we bring you a news Commentary on 70th Anniversary of Diplomatic Relations Between India and Cambodia:

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PAKISTAN-KHAN

In Pakistan, an accountability court based in Islamabad granted Pakistan Tehreek-e-Insaf chairman and former prime minister Imran Khan bail in the Al-Qadir Trust case till June 19 against a bond of five lakh Pakistani rupees. Khan approached the accountability court after the Islamabad High Court (IHC) directed him to approach relevant accountability court within three working days. The Islamabad high court on Wednesday also extended Pakistan Tehreek-e-Insaf chairman and former prime minister Imran Khan's bail in the Al Qadir case, violation of section 144 during a rally in Islamabad and for instigating violence on May 9 after his arrest. Imran Khan appeared before the high court as the previous bail granted to him expired Wednesday. On the other hand, the Pakistan government is mounting pressure on Khan. Pakistan's interior minister Rana Sanaullah has said that Khan should be tried in a military court for his role in the May 9 protests. Sanaullah also accused Khan of personally planning the attacks on military installations after his arrest on May 9.

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SL-TOURISM

India has taken the lead as the largest source market for tourism in Sri Lanka, with a staggering 20,971 tourist arrivals in the month of May, accounting for 28 percent of total arrivals. According to the Sri Lanka Tourism Development Authority, the island nation has witnessed an improvement in off season tourism, with a total of 75,767 tourists visiting the country by the 28th of May. This figure represents a significant increase from the previous year's 30,207 arrivals during the same period. In the first five months of this year, Sri Lanka has already welcomed nearly 5.17 lakh tourists, signaling a promising recovery for the tourism sector. In light of this positive momentum, Chairman of the SLTDA, Priantha Fernando, announced plans to revise the target for tourist arrivals from 15 lakhs to 20 lakhs.

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RUSSIA-UKRAINE

Amid the ongoing conflict between Russia and Ukraine, five people lost their lives while 19 were injured due to Ukrainian shelling in a village in the Luhansk region of eastern Ukraine. Russian officials said Ukrainian forces used US-made HIMARS rocket launchers to attack the village under Russian control. They said a drone attack by Ukraine also caused a fire at an oil refinery in southern Russia. Ukrainian missiles also hit a Russian town close to the border damaging buildings and vehicles. According to the officials, four people were injured in the attack. Russia controls nearly all of the Luhansk region in eastern Ukraine. The attacks in Russia come as Ukraine prepares to escalate its offensive. The White House said it was gathering information on the reports of drone strikes in Moscow. White House press secretary Karine Jean-Pierre said at a briefing that the United States does not support attacks inside of Russia.

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JAPAN-NUCLEAR PLANTS

Japan’s parliament has passed a law allowing nuclear reactors to operate beyond 60 years, as it tries to reinvigorate the sector to meet energy challenges and climate targets. A parliament spokesman told media that the bill intends to establish an electricity supply system that will achieve a carbon-free society. Under the new rules, the age cap technically remains 60 years but exceptions are allowed for reactors that have had to pause operations for "unforeseeable" reasons. Those might include changes to safety guidelines, or provisional injunctions by a court.

The new rules allow operators to exclude periods of shutdown when calculating the total years of operation. However, operators require approval from Japan's nuclear safety watchdog for the exemption, and the law also includes measures intended to strengthen safety checks at ageing reactors.

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NORTH KOREA-SATELLITE

North Korea’s attempt to launch its first military spy satellite ended in failure after the rocket's second stage malfunctioned yesterday. North Korea said that an accident occurred as it planned to send up its first space satellite, causing it to crash into the sea. According to North Korean state media, the new satellite transport rocket Chollima-1 launch failed as it lost propulsion due to an abnormal startup of the engine on the second stage after the first stage was separated while flying normally.

Earlier, North Korea had announced its plans to launch a satellite by 11 June to monitor US military activities. This was North Korea's sixth satellite launch attempt, and the first since 2016. It was supposed to put the nuclear-armed state's first spy satellite in orbit.

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WORLD NO TOBACCO DAY

On the occasion of World No Tobacco Day, WHO representative to India Dr Roderico H Ofrin spoke exclusively to Akashwani.  He shared insights on how youth are easily targeted as replacement customers by the tobacco industry and complimented India for its firm decisions in reducing tobacco use and  banning E-cigarettes.

The World No Tobacco Day is observed every year on 31st May.

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GDP

India's Gross Domestic Production registered a growth of 6.1 percent in the January-March, fourth quarter of the current fiscal. For 2022-23 as a whole, the statistics ministry's first provisional estimate has pegged the GDP growth at 7.2 percent, 20 basis points higher than the second advance estimate of 7 percent.  Addressing media in New Delhi, Chief Economic Adviser V Anantha Nageswaran said that India is on track to achieve the fiscal deficit target of 5.9 percent of GDP in 2023-24:

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MORGAN-INDIA ECO

After the World Bank, International Monetary Fund and United Nations, US-based global investment bank Morgan Stanley has reaffirmed faith in the India story. In a report detailing India's transformation in the last 10 years, Morgan Stanley credited the government's policy choices for making India gain a significant position in the world order with positive consequences for the macro and market outlook. The report titled 'India Equity Strategy and Economics: How India Has Transformed in Less than a Decade' reviewed India's policy changes since 2014 in areas like Supply-side reforms, formalisation of the economy, Real Estate, digitalizing social benefit transfers, Insolvency and Bankruptcy Code, flexible inflation targeting, focus on FDI and government support for corporate profits. It commended the government led by Prime Minister Narendra Modi for bringing corporate tax at par with peers and expediting infrastructure investment.

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US-DEBT CEILING

In the United States, the debt pact brokered by President Joe Biden and House Speaker Kevin McCarthy to increase the 31.4 trillion US dollar debt ceiling and achieve new federal spending cuts will face the full House of Representatives vote on Wednesday. The legislation passed an important hurdle on Tuesday after the House Rules Committee voted 7-6 to advance a bill dealing with the federal debt ceiling to the full House. Lawmakers have until Monday next week to give a green signal to the agreement between Republicans and Democrats to approve further borrowing to avoid missing loan repayments by the country.

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SL-INFLATION

Sri Lanka's inflation rate based on the Colombo Consumer Price Index decreased to 25.2 percent in May, providing some relief for the struggling economy. The decline from April's 35.3 percent offers a glimmer of hope after more than a year of soaring inflation. Despite this improvement, the central bank is expected to maintain its policy rates during its upcoming announcement to support the debt-ridden economy in the face of persistently high inflation.

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WORLD NEWS CAPSULE

Key domestic indices ended with marginal losses of about half a percent. Both indices fell amid negative cues from global share markets.A report from the business desk-

The Sensex declined 347 points or 0.55 percent to finish at 62,622. The Nifty also depreciated 99 points or 0.53 percent to end at 18,534 Asian stocks slid toward a second month of losses in a row, and even the glittering Nikkei paused, as weak Chinese factory activity fed grew doubts about the post-pandemic recovery in the world's second biggest economy. Hong Kong's Hang Seng index slipped two percent and Japan's Nikkei-225 tumbled 1.45 percent. Singapore's Straits Times index fell 0.9 percent and China's Shanghai Composite index was 0.6 percent down. South Korea's Kospi declined 0.35 percent.

European Markets were also down in intra-day trade.

Oil prices fell more than two percent, as weak data from top oil importer China raised demand fears. In intra-day trade, Brent crude was trading at 71 dollars and 84 cents a barrel.

Back Home, Gold prices, at Multi Commodity Exchange for June contracts, were trading at around 60,062   rupees per 10 gram. On the other hand, silver was trading at 71,352 rupees per kilogram for July Contracts.

And In the forex market, the rupee closed flat at 82 rupees and 72 paise against the US dollar.

Gaura Dhawan lal for World News, AKASHVANI.

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ANURAG-WRESTLERS

India has urged its protesting wrestlers not to take any step that would undermine sports. Speaking to media on the sidelines of an event in New Delhi, Sports Minister Anurag Thakur asked wrestlers to be patient till the outcome of the police investigation in the harassment allegations against Wrestling Federation of India Brij Bhushan Sharan Singh. The minister said, police has registered the FIR keeping in line with their talks with the Supreme Court.

The Minister said, it will only be right if they do not take any steps that harm the sport or any athlete until the investigation is concluded. He said, Government of India is in favor of the sport and the athletes. Country's top wrestlers, including Sakshi Malik, Vinesh Phogat and Bajrang Punia, along with hundreds of their supporters are protesting against former president of Wrestling Federation of India Brij Bhushan Sharan Singh and demanding his arrest.

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FRENCH OPEN

In French Open Tennis, Greek tennis star Stefanos Tsitsipas overcame Spain’s Roberto Carballes Baena to advance to the third round in the men's singles. Ranked world number 5, Tsitsipas defeated Carballes Baena 6-3 7-6(4) 6-2. Serbian Novak Djokovic will take on Hungarian tennis star MártonFucsovics at 11.45 IST tonight.

Ukrainian tennis player Elina Svitolina bouned back from a set down to secure a victory over Australia's Storm Hunter in women's singles and advance to the third round of tournament.

The world number 3 American Jessica Pegula also advanced into the third round after Italy's Camila Giorgi retired from their match. In another match, World No.69-ranked American Peyton Stearns defeated Number 17 seed Jelena Ostapenko of Latvia to enter the next round.

Belarusian tennis player ArynaSabalenka defeated Iryna Shymanovich to enter the third round.

In Men's doubles, the Indian pair of Saketh Myneni and Yuki Bhambri defeated French duo Arthur Rinderknech and Enzo Couacaud 6-3, 6-2 to enter the second round.

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SL-ODI SERIES

With the upcoming ICC Cricket World Cup fast approaching, the Afghanistan Men's cricket team will tour Sri Lanka for a three-match ODI series starting on 2nd of June. The Mahinda Rajapaksa International Cricket Stadium in Hambantota will play host to all the matches, which will be held as day games.

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FPR

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

• The Wall Street Journal reports, Chinese Jet Fighter Buzzed U.S. Spy Plane, Pentagon Says.

• The Guardian writes, Ethiopian Airlines faces legal case over claims it blocks Tigrayans from travel.

• Le Monde reports, Brazil lawmakers vote to limit demarcation of Indigenous reserves.

• The Japan Times reports, NATO upbeat on Sweden bid as US urges Turkey to say yes.

• Washington Post reports, Peru battles record dengue outbreak, in a warning for a warming world.

• South China Morning Post writes, China to join Indonesia’s multilateral naval drills despite rising tension.

• The Financial Times reports, Jamie Dimon warns against ‘uncertainty’ in China as factory activity declines.

• The United States has reaffirmed its commitment to expanding collaboration with the Indian Ocean Rim Association (IORA) on key priorities, reports Daily Star. Climate crisis; support for a sustainable blue economy; global health; and maritime security as among the priorities that the US and IORA address together as part of key global challenges.

• Bangladesh has expressed an interest in forging a strategic partnership with Turkey, reports Dhaka Tribune.

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A QUICK LOOK AT THE HEADLINES ONCE AGAIN:

• India approves one lakh crore rupee for World’s Largest Grain Storage Plan in Cooperative Sector.

• India launches Electronics Repair Services Outsourcing to make India Repair Capital of the World.

• Former Pakistan Prime Minister Imran Khan gets bail till June 19 in Al-Qadir Trust case.

• Russia says Ukrainian shelling killed five, drone sparked fire at refinery.

• India’s GDP grows 7.2 percent in FY23; 6.1 percent in January-March quarter.

• Morgan Stanley says India gained significant position in world order with positive consequences for macro and market outlook.

• US House vote on debt ceiling deal brokered by President Joe Biden, Speaker Kevin McCarthy on Wednesday.

• India urges protesting wrestlers not to take any step that would undermine sports; Assures support to athletes.

• In Frech Open, Serbian Novak Djokovic to take on Hungarian tennis star Márton Fucsovics tonight.

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