Data recap: Maldives row, food subsidy, river cruises
₹45,000-crore investment to develop river cruise tourism, aiming to leverage India's inland waterways for economic growth. The government is considering an allocation of ₹2.2 trillion for food subsidy in the upcoming budget, which would be a 10% increase from the previous year, Mint reported. The allocation would align with the government's focus on ensuring food security and keeping food inflation in check.
According to food and public distribution department's secretary Sanjeev Chopra, the food subsidy outgo has already surpassed ₹2 trillion this fiscal, against the allocated ₹1.97 trillion. India is considering issuing ISI certificates to Nepal-manufactured cement, paver blocks and electrical products as it looks to strengthen strategic and economic ties with some of its South Asian neighbours, Mint reported. India primarily imports vegetable oil, textiles, engineering goods, spices, jute products and chemicals from the landlocked Himalayan nation, but bilateral trade has decline.
Indian imports from Nepal dropped from $1.3 billion in 2021-22 to $838 million in 2022-23. ₹45,000 crore: That's the amount that the ministry of ports, shipping and waterways plans to invest to develop river cruise tourism. According to a ministry statement, the investment comprises ₹35,000 crore for cruise vessels and ₹10,000 crore for cruise terminal infrastructure by 2047.
The plan involves expanding river cruise tourism from eight waterways to 26 and increasing the number of cruise circuits with overnight stays from 17 to 80. The number of river cruise terminals is set to rise from 15 to 185, boosting cruise tourism by 2047. India, like other nations, is susceptible to the ripple effects of the recent attacks by Yemen's Houthi militants
. Read more on livemint.com
