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Committed to make Rajasthan $350 million economy: Dy CM

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Committed to make Rajasthan $350 million economy: Dy CM

Jaipur, July 10 (IANS) Rajasthan Deputy Chief Minister and Finance Minister Diya Kumari on Wednesday said that the state government is committed to make Rajasthan a $350 million economy.

Counting this resolution amongst the top of 10 resolutions while presenting the budget, she said that the Rajasthan government is committed to making Developed Rajasthan 2047.

Kumari also drew laurels during her budget presentation for reading the couplets of different poets, writers and renowned personalities like Swami Vivakanand, Bhimrao Ambedkar, Viba Bhave, Saint Haridas, Nida Fazli and M.S. Swaminathan in the Assembly.

In the initial phase of the budget, she read a poem by Nida Fazli.

Thereafter, she recalled the lines written by Ambedkar, saying: “The capital of economic progress and social upliftment lies in industrialisation. By increasing industrial development, we can provide employment, reduce poverty and raise the standard of living.”

Further, she quoted Swami Vivekananda while announcing schemes for youth, saying, “Brave, outspoken, clean-hearted, courageous and ambitious youths are the only foundation on which the future nation can be built.”

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During the budget speech, the Finance Minister also recalled Bharat Ratna Vinoba Bhave and quoted her lines. “Real progress can be made only when its benefits are available to all and not limited to a few,” the Deputy Chief Minister said.

She also read the lines of Sant Haridas, saying, “I want to remind you of the lines of Sant Haridas ji. Doing Karma is the only religion of human beings.”

During the address of the agriculture budget, she also quoted the pioneer of the Green Revolution M.S. Swaminathan, saying, “Farming is the most risky business in the world because the future of the crop depends on the monsoon.”

The Deputy Chief Minister also read the composition of former Prime Minister Atal Bihari Vajpayee.

–IANS

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African Union approves AI strategy, digital compact to boost Africa's advancement

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African Union approves AI strategy, digital compact to boost Africa's advancement

African Union approves AI strategy, digital compact to boost Africa's advancement

Accra, July 20 (IANS) The executive council of the African Union (AU) has approved its Continental Artificial Intelligence (AI) Strategy and African Digital Compact to boost Africa’s digital development, an official said.

AU Commissioner for Infrastructure, Energy and Digitization Amani Abou-Zeid said this in an interview Friday during the 45th Ordinary Session of the AU Executive Council, a prelude to its 6th Mid-Year Coordination Meeting, in the Ghanaian capital of Accra, reported Xinhua news agency.

“Our council approved the AU strategy for artificial intelligence and the strategy for using digital technologies, which will set the path for Africa’s use of digital technologies for development,” Abou-Zeid said.

These strategies would provide direction on the use of technology to find solutions to Africa’s challenges, help fast-track many projects and programmes, and guard against the unethical use of technology, she said.

“The technology must help us preserve our identity, preserve our languages and cultures, and be helpful rather than harm us,” the commissioner said.

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The strategies would create an enabling environment for the development and use of digital technology, Abou-Zeid said, adding that the AU policy would guide the governments of various members to develop the necessary policy and regulatory frameworks for the sector.

“The strategies will help us create a single digital market and guide all sovereign countries on how to use digital technology to boost their development processes,” she said.

“There must be rules and regulations to punish the negative use of AI and digital technologies to prevent further abuse,” Abou-Zeid said, adding that seven African countries now have AI policies, but the continental body would like to see all members develop their policies.

–IANS

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Textile centre will be set up in Jabalpur: MP CM

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Textile centre will be set up in Jabalpur: MP CM

Textile centre will be set up in Jabalpur: MP CM

Bhopal, July 20 (IANS) Madhya Pradesh Chief Minister Mohan Yadav said on Saturday that the modern textile centre would be set up in Jabalpur which will provide jobs for women.

“A mega unit of the modern textile centre will be set up in Jabalpur soon. This development will not only make Jabalpur a new textile hub in the state but would also provide employment to the women,” the Chief Minister said while addressing the inaugural session of the Regional Industrial Conclave in Jabalpur.

Several business houses and industrialists from across the country also participated in the conclave.

The Chief Minister said that many medical and other educational colleges have been constructed in the past few years in Madhya Pradesh.

“We have more than 275 units in the pharma sector and products are being exported in more than 160 countries,” the Chief Minister said.

He added that there are as many as 16 industrial parks and 517 MSME units in Mahakoshal (Jabalpur) which is providing employment to about 20,000 people.

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–IANS

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India's rich history, vibrant culture highlighted at Korea international fair

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India's rich history, vibrant culture highlighted at Korea international fair

India's rich history, vibrant culture highlighted at Korea international fair

Ilsan, July 20 (IANS) India’s rich history and vibrant culture grabbed the spotlight as the ninth Korea International Tourism Fair kicked off at Ilsan in northwest of Seoul.

The Embassy of India in Seoul and the UP government are jointly participating in the fair held at the Korean International Exhibition Centre.

India’s Ambassador to the country, Amit Kumar, joined the opening ceremony alongside Chang-su Jeong (Chairman of the Organisation Committee), Dong Hwan Lee (Mayor of Goyang Special City), Oh Who Seock (Vice Governor of Gyeonggi Province) and Min-hyeon Kyeong (President of Kangwon Domin Ilbo & the Korea Local Newspapers Association).

The UP Tourism booth was jointly inaugurated by all the dignitaries as the Indian Ambassador spoke of India’s rich history and vibrant culture.

In his remarks, he also highlighted India’s natural beauty and wildlife, along with the country’s incredible diversity of languages, cuisines, clothing, architecture and faiths.

“It is often said that whatever a tourist is looking for, can be found in India,” said Kumar.

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The visitors to the fair were also given deep insights into Uttar Pradesh by the state tourism body.

“The state represents the microcosm of the rich heritage that India has to offer. There are 42 UNESCO World Heritage Sites in India, including six in Uttar Pradesh. The state also has a rich heritage of Buddhism, comprising six cities where Lord Buddha once lived and preached,” said Ambassador Kumar.

Korea International Tourism Fair is a tourism exhibition aimed at fostering the growth of the tourism industry by expanding the market through collaboration between domestic and international tourism. It also seeks to boost local tourism by promoting the internationalisation of domestic cities.

Several countries from around the world participated in the event.

–IANS

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Yes Bank clocks 47 per cent jump in q1 net profit at Rs 502 crore

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Yes Bank clocks 47 per cent jump in q1 net profit at Rs 502 crore

Yes Bank clocks 47 per cent jump in q1 net profit at Rs 502 crore

New Delhi, July 20 (IANS) Private sector lender Yes Bank on Saturday reported a standalone net profit of Rs 502 crore for the April-June quarter of 2024-25 which represents a 47 per cent jump over the corresponding figure of Rs 342.5 crore for the same period of the previous year.

The interest earned by the bank during the quarter rose 19.8 per cent to Rs 7,719 crore from Rs 6,443 crore in the same period last year.

The asset quality of the bank also improved during the first quarter with the gross non-performing assets (NPA) of the bank coming down to 1.7 per cent of total loans as of June 30, as compared to 2 per cent in the year-ago period.

Similarly, the quarterly net NPA ratio declined to 0.5 per cent as of June 30, compared to 0.6 per cent sequentially, and 1 per cent year-on-year.

–IANS

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HDFC Bank posts 35% rise in net profit at Rs 16,175 crore for April-June quarter

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HDFC Bank posts 35% rise in net profit at Rs 16,175 crore for April-June quarter

HDFC Bank posts 35% rise in net profit at Rs 16,175 crore for April-June quarter

New Delhi, July 20 (IANS) HDFC Bank on Saturday reported a 35 per cent increase in net profit to Rs 16,175 crore for the April-June quarter of the current financial year from Rs 11,952 crore in the same period of 2023-24.

However, the net profit was lower by 2 per cent sequentially compared to Rs 16,512 crore reported in Q4 FY24.

On a consolidated basis, the private sector bank posted Q1 profit at Rs 16,474.85 crore.

The interest income of HDFC Bank jumped by 50.3 per cent to Rs 73,033.14 crore during the quarter from Rs 48,586.81 crore in the same quarter of 2023-24.

The Bank posted Net Interest Income (NII) at Rs 29,837.1 crore during the quarter.

However, the gross non-performing assets (NPA) ratio of the bank increased to 1.33 per cent of total loans as of June 30, as compared to 1.24 per cent in the previous quarter and 1.17 per cent in the year-ago period, reflecting a decline in asset quality.

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Similarly, the net NPA ratio rose to 0.39 per cent as of June 30, as compared to 0.33 per cent as of March 31, and 0.30 per cent as of June 30, 2023.

–IANS

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