Monday, May 18, 2015

#Daily #Current #Affairs

Union Government allocates Rs 5000 crore for development of AYUSH
Union Government has allocated 5,000 crore rupees for the growth of Department of AYUSH, that comprises Ayurveda, Yoga and Naturopathy, Unani, Siddha and Homoeopathy. It was announced by Union Minister of State (MoS) for AYUSH Sripad Naik at a function in Mumbai, Maharashtra. The allocation of additional funds to Department of AYUSH will help it to create awareness about Ayurveda and promote traditional ayurvedic medicines at international level. India and China are two prominent players in the field of traditional medicines at international level. However, traditional Chinese medicines have seen easy acceptance across the globe, but the Indian Ayurvedic medicines are yet to gain global acceptance. In the last ten years, Indian traditional medicines have seen a 25 per cent rise in sales at the international level. Union Government also focusing to address the issues in order to compete at international level. Department of AYUSH also has launched an independent National AYUSH Mission aimed at capacity building for the sector. It is also planning to observe Ayurveda Day for creating awareness about Ayurveda.

India grants $1 billion credit to Mongolia; deepens defence ties
India today announced a US$ one billion credit line to Mongolia for infrastructure development as they upgraded their ties to “Strategic Partnership” and agreed to deepen defense cooperation besides exploring potential for tie ups in areas like the civil nuclear sector. The two Prime Ministers signed a joint statement committing to further consolidate bilateral ties and upgrade the comprehensive partnership to “strategic partnership” and agreed to renew their Treaty of Friendly Relations and Cooperation. The two sides inked 13 other pacts that includes one on enhancing cooperation in border guarding, policing and surveillance, air services, cyber security and new and renewable energy.

Infosys to open first Overseas Campus in china
As India pressed China to open its markets for Indian IT firms, technology major Infosys on Sunday announced establishing its first overseas centre outside India in China with an investment of about USD 120 million to tap in the burgeoning Chinese market. An MOU in this regard was signed between Infosys and the local Chinese provincial government at the India-China Business Forum, which was addressed by Prime Minister Narendra Modi in Shanghai on Sunday. The development centre, to be established in China’s Guizhou province, with a staff capacity of about 4,500 will help to focus on Chinese and global markets.