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21 Nov 2022: UPSC Exam Comprehensive News Analysis

CNA 21 Nov 2022:- Download PDF Here

TABLE OF CONTENTS

A. GS 1 Related
B. GS 2 Related
GOVERNANCE
1. New data protection Bill
INTERNATIONAL RELATIONS
1. India’s Soft Loan Diplomacy
C. GS 3 Related
D. GS 4 Related
E. Editorials
INDIAN ECONOMY
1. Charting the economic journey ahead
SOCIETY AND SOCIAL JUSTICE
1. A place for all refugees under India’s welfare umbrella
F. Prelims Facts
1. Loss and Damage Fund
G. Tidbits
1. Operation Claw-Sword
2. Great Knot
H. UPSC Prelims Practice Questions
I. UPSC Mains Practice Questions
FIP Magazine

Category: INTERNATIONAL RELATIONS

1. India’s Soft Loan Diplomacy

Syllabus: India and its Neighborhood – Relations

Mains: Analysis of India’s neighbourhood first policy 

Context: Former foreign secretary and G-20 chief coordinator Harsh Vardhan Shringla recently spoke about India’s soft loan diplomacy in an event.

Key Details

  • India’s Lines of Credit (LOC) to its neighbour countries have increased from $3.27 billion in 2014  to $14.7 billion in 2020. 
  • The bulk of India’s worldwide soft lending (almost 50 percent) goes to its partners in the neighbourhood. 
  • The largest concessional credit given by India to any single country has been to Bangladesh ($8 billion).
  • Sri Lanka has received support totalling over $1.4 billion of which $400 million was a currency swap and $500 million was loan deferment and $500 million LOC for fuel imports. 
  • The other countries that have received LOCs in the neighbourhood are Nepal ($1.65 billion), Myanmar (476 million) and Maldives ($1.3 billion).
  • Overall, 306 LOCs worth $30.59 billion have been extended to 65 countries across the globe. The projects cover infrastructure, power generation, irrigation, healthcare and capacity building.
  • Soft loans provided help in developing infrastructure for improved connectivity with India. India’s prosperity and growth are linked to that of its neighbours.

Read more on Indian Foreign Policy

Nut Graf: The volume of India’s soft loans to neighbouring countries has increased from about $3 billion to almost $15 billion in the last eight years. Expansion and strengthening of connectivity with its neighbour countries is an integral part of India’s economic and diplomatic initiatives which is based on universally recognised norms. 

CNA 21 Nov 2022:- Download PDF Here

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