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Thiruvananthapuram, External Affairs Minister <keyword id="491850" type="General" weightage="50" keywordseo="s-jaishankar" source="Orion">S Jaishankar</keyword> on Sunday said the West was not the "bad guy" as it was not flooding Asian and African markets with goods on a massive scale and that there was a need to get over the "syndrome" of seeing it in a negative way. <keyword id="236448" type="General" weightage="80" keywordseo="jaishankar" source="Orion">Jaishankar</keyword>, in an interview to Malayalam news channel Asianet, also made it clear that he was not batting for the West. He was in Thiruvananthapuram as part of the launch of the <keyword id="18816562" type="General" weightage="20" keywordseo="PM-Vishwakarma-scheme-" source="Orion">PM Vishwakarma scheme.</keyword> "It is not the West which is flooding Asia and Africa with goods on a massive scale. I think we need to get over the syndrome of the past that the West is the bad guy and on the other side are the developing countries. The world is more complicated, the problems are much more complicated than that," the minister said. Former Indian diplomat T P Sreenivasan interviewed the minister for the channel. On being asked whether Chinese President <keyword id="191809" type="General" weightage="50" keywordseo="xi-jinping" source="Orion">Xi Jinping</keyword> did not attend the G20 summit in New Delhi because it did not want India to be seen as leader of the Global South, Jaishankar said the reasons were up for speculation. He said the issue today was the building up of a strong sense, over the last 15-20 years, over the inequities of globalisation where countries saw their products, manufacturing and employment come under stress due to their markets being flooded by cheap goods -- an indirect reference to the Chinese trade and economic policies. The minister said this underlying resentment and pain of those countries regarding the global economy was building up for the last 15-20 years and the COVID-19 pandemic and the Ukraine conflict resulted in prices of energy and food items going up. So there was a sense of anger building up in countries about them being used as an extractive resource to fuel the economy of another nation and added that the West was not to be blamed for that. He made it clear that he was not batting for the West and said that in today's globalisation there was a concentration of manufacturing that was being leveraged and subsidised and was affecting economies of various nations. However, India's manufacturing, agriculture, scientific achievement like the Chandrayaan-3 mission, ability to vaccinate, etc all of that has created a sense among the Global South, which includes the African Union, "that one of us has the ability to stand, grow and progress". "So they identify with us in a way that they do not with other people," Jaishankar said. Responding to queries, he also spoke about the achievements of the G20 Summit under the Indian presidency and the threat posed by the political space given by Canada to the Khalistan group. Jaishankar said that some of the major achievements of the G20 Summit under the Indian presidency was that India was able to get the influential group of nations back on the track of growth and development and also focus on the Global South initiative. In addition to that, the country was also able to do diplomacy in a different way and through the summit created a greater interest in the nation about the Baltic, he said. Jaishankar said India was a different country now with a different level of confidence and a different leadership and the manner in which G20 was conducted has only benefited the nation. He said that the summit showed that the agenda "does not have to be decided by the West or by the P5 or by a narrow one or two countries" and that India too can shape it. "By doing the Voice of the Global South (summit) and bringing 125 nations together, we straightaway shaped the agenda," he said. At the same time, he said, the Global South was not a new world order or a definition and India was not claiming to be its leader. "My most truthful answer is that the Global South is not a definition, but a feeling. It is a feeling of solidarity, a willingness to put yourself out," he said, adding that "those who are part of it know it and those who are not also know it". World leaders at the two-day G20 Summit in New Delhi recently had hailed Prime Minister Narendra Modi for his "decisive leadership" and for championing the voice of the Global South. He also welcomed the proposed economic corridor with India at one end and Europe at the other and which passes through the Middle East making it easier for people from here to go there for job opportunities. While speaking about people migrating abroad for jobs, he touched upon the issue of the Khalistan group's activities in Canada and its effect on India's relations with that country. He said the problem arises when, for whatever reason, such countries give space in their politics for activities of such groups. The minister said there were compulsions in politics, "but everybody, especially in a democracy, must temper that with a larger sense of responsibility to the world as well as a sense of responsibility to their own image and their own well being". "Forget us for the moment. You know the kind of force involved in all of this. They are not good for the country where all of this will happen. Today it is Canada, it could be something else tomorrow. We are focusing on generating that appreciation," he said. On how India managed to not get Russia blamed for the Ukraine conflict in the G20 declaration, Jaishankar said, "Everybody compromised." "There was a lot of give and take," he added. He said what happened in the Bali Summit of G20, where Russia was blamed, could not be repeated in India and at the same time the clock could not be stopped there. "This is New Delhi. So the New Delhi outcome had to be forged," he said. He also said that in the G20 India was able to focus on the Global South in terms of phrases, agenda, outcome and the African Union's membership "for which Prime Minister Narendra Modi really stuck his neck out". "This is a different country, with a different level of confidence and a different leadership," he concluded.

We need to get over syndrome that 'West is the bad guy': Jaishankar

<ul><li>Finance Minister <keyword id="19916618" type="General" weightage="20" keywordseo="nirmala-sitharaman" source="keywords">Nirmala Sitharaman</keyword> on Thursday presented the Interim Budget 2024-25.</li><li>This budget outlines expenditures and revenues till the formation of the next government.</li><li>Here are the top highlights and major announcements of the Interim Budget 2024-25.</li></ul> Finance Minister Nirmala Sitharaman while presenting the Interim Budget 2024-25 at <keyword id="19895397" type="General" weightage="20" keywordseo="parliament" source="keywords">Parliament</keyword> on Thursday, February 1 announced that the FY25 capex outlay has been increased by 11.1% to ₹11.11 lakh crore. The FY25 capex outlay is now at 3.4% of the GDP. Fiscal deficit, the gap between the government’s revenue and expenses, is expected to be 5.8% of gross domestic product, said the FM. “The gross market borrowing for the financial year ending March 2025 will be ₹14.3 lakh crore (less than the borrowing in the current financial year).” The FM began her speech by giving a summation of the Narendra Modi government's performance in the past ten years. "The Indian economy has witnessed positive transformation in the last 10 years. Our development steps have covered all elements of inclusivity," she said. This is the final budget of the second term of the Narendra Modi government before the country heads to elections later this summer. Sitharaman stressed on the government's aim to make India developed -- Viksit Bharat – by 2047. The government has tried to provide inclusive development and growth, both socially and geographically, she said in the opening minutes of her sixth budget speech as the country’s finance minister. It is to be noted that this Vote on Account or an Interim Budget is only for the next three months as the next government after the election will come out with a comprehensive budget for the financial year 2024-25 later. In other words, this budget outlines expenditures and revenues till the formation of the next government. Key announcements by Finance Minister Nirmala Sitharaman: <ol><li>No relief for taxpayers: Same tax slabs to continue, says FM. “I propose to retain the same tax rates for direct and indirect taxes.”</li><li>FY25 divestment target at ₹50,000 crore. The FY24 target has been curbed to ₹30,000 crore</li><li>Gross market borrowing for FY ending March 2025 will be ₹14.3 lakh crore.</li><li>FY25 capex outlay increased by 11.1% to ₹11.11 lakh crore. The FY25 capex outlay is now at 3.4% of GDP.</li><li>The revised estimate of the fiscal deficit is 5.8% of GDP. The FY25 fiscal deficit target is set at 5.1%.</li><li>The FY25 revenue deficit is set at 2% versus FY24 revised estimate of 2.8%</li><li>The FDI during 2014 to 2023 was $596 billion. India is negotiating bilateral treaties with foreign partners. FM adds that FDI is now “First Develop India”.</li><li>Three major economic railway corridors announced to boost GDP. This includes an energy mineral and cement corridor, port connectivity corridor and high traffic density corridor.</li><li>40,000 rail bogies to be converted to Vande Bharat standards. Airports have doubled to 149 in the last decade.</li><li>Boost for tourism: Projects for enhancing tourism revenue will be taken up, especially for islands, including Lakshawdeep.</li><li>FM says the government has assisted 25 crore people to escape from multidimensional poverty.</li><li>Free ration: Worries of food have been alleviated as 80 crore people are provided with ration.</li><li>Direct benefit of ₹34 lakh crore via Jan Dhan has led to savings of ₹2.7 lakh crore for the government.</li><li>The PM PM SVANidhi scheme has supported over 78 lakh vendors. Out of this, 2.3 lakh vendors have received loans more than two times.</li><li>11.8 crore farmers have been assisted under the PM Kisan Yojna.</li><li>₹30 crore Mudra loans have been given to women entrepreneurs in the last ten years.</li><li>Average real income of people has risen by 50%.</li><li>India-Middle East-Europe Economic corridor is a game changer for India and others.</li><li>Artisanal support: PM Vishwakarma Yojana provides end-to-end support to artisans and crafts people engaged in 18 trades.</li><li>GDP new definition: FM Sitharaman has said that the government is focussed on GDP (governance, development and performance)</li><li>Real estate boost: Government close to achieving the target of three crore houses under the PM Awas Yojana Grameen. Additional two crore houses to be built in five years.</li><li>Sustainability &amp; free electricity: Rooftop solarisation scheme announced to help one crore houses, enabling free electricity and selling of surplus energy. First three hundred units for solar homes.</li><li>Nari Shakti: FM says that female enrolment in higher education is up by 28% in 10 years in STEM courses. Free healthcare under Ayushman Bharat to be extended to Asha workers and Anganwadi workers.</li><li>Target for Lakhpati Didi scheme enhanced from 2 crore to 3 crore.</li></ol>

Interim Budget 2024: FY25 capex hiked 11%; no change in tax slab, says FM Sitharaman

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We need to get over syndrome that 'West is the bad guy': Jaishankar

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Interim Budget 2024: FY25 capex hiked 11%; no change in tax slab, says FM Sitharaman

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