Five memoranda of understanding (MoUs) worth about $15 billion with Indian private sector players for the import of electricity, fuel and installation of four coal-fired power projects in Bangladesh are likely to be signed. Strategic gas grid connectivity between India and Bangladesh is also on the cards.
The real coup would have been the Teesta water-sharing deal. But External Affairs Minister Sushma Swaraj said on Sunday the deal would not be signed during this visit.
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Pakistan set to present 2015-16 Budget on June 5
Pakistan will present its 2015-16 Budget on June 5. The government, headed by Prime Minister Nawaz Sharif and which came to power in 2013, faces many challenges.
"When we took the reins of the government, the economy was weak and fragile. The annual growth rate averaged below three per cent and average inflation was around 12 per cent. The circular debt of (Pakistani) Rs 503 billion was crippling the power sector and economy. The fiscal deficit was hovering around 8.8 per cent of GDP and there were predictions of default. However due to our economic policies, the economy is now performing well," Finance Minister Ishaq Dar said recently, adding that in the medium term, the plan was to gradually grow GDP growth to around seven per cent and contain inflation to below six per cent.
The finance minister said the government intended to bring down the fiscal deficit to four per cent of GDP (gross domestic product) and increase foreign exchange reserves to $20 billion. "We have also set the target of increasing the tax-GDP ratio to 13 per cent and increase exports to $32 billion," he said.
However, obligingly, the finance minister has said there will be no new taxes in the Budget.
Jayalalithaa to contest from north Chennai Assembly seat on June 27
J Jayalalithaa is likely to contest from the Dr Radhakrishnan Nagar Assembly constituency on June 27 after the Election Commission announced the date, following the resignation of sitting candidate P Vetrivel from the seat without giving any reason. It will be known between June 3 and 10, when nominations are filed. If Vetrivel had any regrets about stepping down, he kept them to himself. The constituency falls in north Chennai.
Votes will be counted on June 30. Jayalalithaa returned as chief minister of Tamil Nadu on May 23, following her acquittal in a disproportionate assets case. She had up to six months to become an MLA but has opted to act swiftly. The opposition Dravida Munnetra Kazhagam has pledged to file an appeal against the court order. The Radhakrishnan Nagar seat is considered an AIADMK bastion, with the party losing it only once since Jayalalithaa took charge in 1996.