Daily Current Affairs – 2020
Topic: For Prelims and Mains
India- Sri Lanka Economic Summit 2020
Why in News?
Union Minister for Finance & Corporate Affairs, Smt. Nirmala Sitharaman delivered a Keynote Address at the inauguration of the 20th Edition of Sri Lanka Economic Summit (SLES) 2020 in virtual format.
- Sri Lanka Economic Summit (SLES) annually organized by the Ceylon Chamber of Commerce (CCC).
- CCC is the premier forum in Sri Lanka for discussion on economic and business issues.
- The theme for this year’s event is “Roadmap for Take-off: Driving a People –Centric Economic Revival”.
- India’s ‘Aatmanirbhar Bharat Abhiyan’ and the vision of ‘Self Reliant Sri Lanka’, are synergistic and complementary and could be used to further consolidate the economic rejuvenation efforts by both countries.
- It would be beneficial for a sustained growth that is so essential for people centric development by both countries.
- She also highlighted the importance of regulatory consistency and policy certainty for industry and private sector.
The relationship between the two countries is more than 2,500 years old and both sides have built a legacy of intellectual, cultural, religious and linguistic cooperation.
- During the civil war in Sri Lanka, India supported the Sri Lankan government to take action against the rebel forces.
Indian Housing Project is the major project by the Government of India to provide developmental assistance to Sri Lanka. Under this project, 50,000 houses are to be built for the people of the areas affected by the civil war and the workers of the tea garden areas
- In 2018, a contingency ambulance service was launched in Sri Lanka in collaboration with India.
- In November 2019, Prime Minister Narendra Modi made a commitment to provide a $ 40 billion credit line for the development of infrastructure projects in Sri Lanka.
- In order to increase tourism, the Government of India introduced tourist visas for Sri Lankan tourists in 2015, along with the visa fees were also cut significantly.
India – Sri Lanka concern:
- 75% of the population of Sri Lanka is Buddha and Sinhala. About 17 percent of the population is Hindu and Tamil. Many times, the persecution of Tamils in Sri Lanka comes to light, on which India has expressed its opposition.
- The second major issue is the island of Kachchativu between the two countries. It covers an area of about 295 acres.
- Importance of the island is not strategically low for India, but it is a means of livelihood for Indian fishermen.
- Some time ago a land bridge between India and Sri Lanka was proposed between Rameswaram and Talaimannar.
- The Tamil Nadu government objected to this.
- The Sethu Samudram project of both countries has also not been completed; there was widespread opposition by environmental and religious activists.
- There is illegal smuggling of goods between the two countries. Drugs are smuggled into India via the Palk Strait Central.
Fact for Prelims
Shahtoot Dam :
India has signed an agreement with Afghanistan for building the Shahtoot Dam in Afghanistan.
- It is a proposed dam in the Kabul river basin, one of the five river basins in Afghanistan.
- This project will provide drinking, irrigation and Environmental water for Kabul province.