World
Greek parliament passes bill to unlock bailout funding
The Greek parliament on Friday passed a second critical bill containing prior actions required by international lenders to unlock fresh bailout funding to the debt-laden country in coming weeks.
 
The draft bill included a new series of austerity measures such as an increase on the tax of diesel used by farmers for agricultural purposes, which evoked strong reactions. It was approved by a vote of 153-118 in the 300-member assembly, Xinhua reported.
 
In mid-October, lawmakers approved the first similar multi-bill to pave the way for the release of three billion euros from the new third bailout programme by the end of the year.
 
In order to ensure the flow of further aid, Athens has pledged to give a new pension system reform by early December, and the recapitalisation of Greek banks by the end of the year is also required so that talks on debt relief can start.
 
The government argued that the new round of harsh policies was unavoidable in order to lead the country back to growth with lenders' help after six years of debt crisis and deep recession.
 
Trade unions and various social groups have responded with a new wave of strike actions. Students of high schools and universities took to the streets for a second time this week to protest cuts in education funding.
 
Pensioners and disabled people in the country also held rallies this week against cuts in pensions and social benefits.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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Government joins monetary framework with RBI to curb inflation: PM
Prime Minister Narendra Modi on Friday said that the government has for the first time entered into a monetary framework with the Reserve Bank of India (RBI) to curb inflation.
 
"We embarked on a course of fiscal consolidation. We entered for the first time into a monetary framework agreement with RBI to curb inflation," Modi said while speaking at the inauguration of Delhi Economic Conclave here.
 
Modi said that by almost every major economic indicator, India is doing better than when he took office 17 months ago.
 
"Maximum value for every rupee spent, maximum empowerment for our poor, maximum technology penetration among masses," said Modi.
 
On development in the banking sector, Modi said that 19 crore people were brought under the banking system in 19 months.
 
"Accounts opened under Jan-Dhan yojana have a total balance of almost Rs.26,000 crore today. For me, JAM (Jan-Dhan, Aadhaar, Mobile) Vision is just about achieving maximum," said Modi, and added that India's GDP has grown and inflation come down in the recent times.
 
He also emphasised that India should be known as a job creater nation, not a job seeker nation.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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Islamic Indices
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