India has been maintaining that the world bodies like the UN, IMF and the World Bank do not reflect the contemporary realities of the world and urgently needed reforms.
The new line of credit follows the $5.4 billion concessional credit announced in 2008 at the time of the first such summit held in New Delhi.
Nepal Maoist chief Prachanda sought to allay India's concerns that his party was strongly anti-Indian, but underlined that the two countries need to redefine the 'unequal' accords of the past given the dramatic changes of the past few years. On the second say of her three-day visit, Indian Foreign Secretary Nirupama Rao met the Maoist chairman who also told her that his party was committed to honour the agreements signed in line with the peace process in Nepal.
A Nepalese Parliamentary committee has asked the government not to send officers to India for training after Maoists feared that they might be 'brainwashed' during their stay in the country. The International Relations and Human Rights Committee of the Parliament on Tuesday asked the foreign ministry not to send the foreign service cadres to India for the 10-day training programme. India's external affairs ministry has agreed to provide training to the Nepalese officials.
A luncheon hosted by the Indian envoy to Nepal to celebrate New Year offered an opportunity to the country's warring political leaders to discuss their differences over the election of a new prime minister.Indian Ambassador to Nepal Rakesh Sood invited top politicians to the embassy for a lunch on Sunday where the leaders, during an informal meeting, expressed their diverse views on the current political deadlock.The gathering took place ahead of winter session of parliament.
India plotting our downfall, say Nepalese Maoists
Nepal's lawmakers on Monday rejected Maoist chief Prachanda and his NC rival Ram Chandra Poudyal for the fifth time in the Prime Ministerial elections, plunging the country into a deeper political crisis in the absence of a government.
A 16-year-old Delhi school boy on Saturday had a brief tryst with destiny, equaling the world record of being the youngest to step atop the world's highest peak, only to have his feat overturned hours later by a 13-year-old American. Arjun Bajpayee, became the youngest Indian to climb the 8,848 metre Mount Everest early today morning via the traditional South Col route in Nepal. He equaled the record of Nepalese boy, Sherpa Temba Tsheri, who also climbed the peak.
Less than a year after their controversial engagement in Sharm-el-Sheikh, Prime Minister Manmohan Singh and his Pakistani counterpart Yousuf Raza Gilani will meet in Thimphu on with little expectations of any breakthrough. The two leaders shook hands twice during the opening day of the SAARC Summit today and Singh is expected to convey India's strong demand for action by Pakistan against the perpetrators of the Mumbai attack to Gilani.
Leaders of the South Asian Association for Regional Cooperation countries vowed to collectively combat the scourge of terrorism, extremism and insurgency plaguing the region with Pakistan and Bangladesh rejecting claims of those who justified violence in the name of Islam.
Prime Minister Manmohan Singh ruled out any rollback in hike in petrol and diesel prices, saying the economy has the capacity to absorb the increase without triggering an inflationary spiral. Singh also made it clear that following populist fiscal policies for long harmed the economy, two days after key United Pogressive Alliance allies Trinamool Congress and Dravida Munnetra Kazhagam made a strong pitch for the rollback.
Prime Minister Manmohan Singh said on Monday that he had asked Saudi Arabia to use its "good offices" to persuade Pakistan to desist from the path of terror.
India is willing to walk the "extra mile" to open a new chapter in relations with Pakistan but it must act decisively against terrorism, Prime Minister Manmohan Singh asserted on Monday."We seek cooperative relations with Pakistan. Our objective is a permanent peace because we recognise that we are bound together by a shared future. If there is cooperation between India and Pakistan, vast opportunities will open up for trade and development that will create prosperity.
Giving a new dynamism to bilateral ties, Prime Minister Manmohan Singh on Sunday said India sees Saudi Arabia as a strategic partner for promoting peace, stability and economic development and that the conditions were ripe for the two countries to enter into a comprehensive energy partnership.
Indian Army chief General Deepak Kapoor met his Nepalese counterpart on Tuesday, as he began a crucial four-day trip, amid protests by hundreds of Maoists at the Indian Embassy in Kathmandu. The police arrested over a dozen Maoist cadres who attempted to wave black flags at the Tribhuvan International Airport, said the police.
Nepal Maoist supremo Prachanda on Tuesday blamed India's 'naked interference' for the lingering political crisis in Nepal, as the former rebels served an ultimatum to the embattled government to resolve the deadlock by January 24 or face an indefinite general strike.
As the Maoists paralysed normal life in Nepal for the second day in running, the government beefed up security on Monday amid warning by a top former rebel leader that they may declare a new constitution from the streets.
Waving red flags, 5000 militant cadres forced their way into the Durbar Square city centre where their chief Prachanda declared Kathmandu valley as the Newa Autonomous State.
"It is wrong to link us with the Indian Maoist movement, he said. There is no involvement (of Nepalese Maoists) in the Indian Maoists' movement," the party's senior leader, Baburam Bhattarai, told media-persons.
India and Nepal on Friday launched their crucial two-day home secretary-level talks in Kathmandu. The two sides are expected to ink an extradition treaty and formulate a border security and management strategy. Home Secretary G K Pillai, who arrived in Kathmandu on Thursday evening, commenced the bilateral security meeting with his Nepalese counterpart Govinda Kusum and is likely to seek tough action against those carrying out anti-India activities from this country.
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