The Subcontinent: 2 February 2021
India’s First Budget After Covid
Twitter Temporarily Blocks Accounts Related to Farm Stir
Remittance Boom in Pakistan
Follow Up: Myanmar Coup
DriveIn for the Great Indian Film and Literature Festival (GIFLIF)
1. India’s First Budget After Covid
The Indian budget is among the most anticipated annual events in the country. It was the third budget presented by Indian Finance Minister Nirmala Sitharaman, India’s second female finance minister after Indira Gandhi.
Here are Some Takeaways
Two PSU banks, one insurance firm to be privatized: The Indian Express
137 % increase in health budget. Or is it? The Hindu
Migrants, Farmers deceived, says Opposition: Business Today
Budget positions India towards its target of $5 trillion economy: USISPF: The Times of India
India to Borrow Big for Trillion Dollar Budget: Bloomberg
Missing in Budget: Push for Jobs, Welfare: The Indian Express
Rs 7,100 crore as development assistance to other countries: The New Indian Express
Fiscal deficit for 2020-21 is pegged at 9.5% of GDP: The Times of India
Memes on Indian middle class go viral after Budget 2021: The Times of India
Also Read: James Wilson, the British economist who presented India’s first ‘budget’: The Indian Express
2. Twitter Temporarily Blocks Accounts Related to Farm Stir
Twitter temporarily blocked an unspecified number of accounts (reported to be around 250) that were related to the ongoing farmers' stir. The accounts were withheld following a response to a “legal request” — and then restored later in the evening (The Times of India)
How Many?
250, according to DW and NDTV.
Why?
TechCrunch quoted AFP journalist stating that India’s Ministry of Electronics and Information Technology had directed Twitter to block the accounts.
Also Read
Indian journalists face criminal charges over police shooting reports: The Guardian
Delhi Police Arrest Journalist at Singhu Protest Site, Detain and Release Another: The Wire
3. The Remittance Boom in Pakistan
The last six months of 2020 saw a 25 % increase in remittances in Pakistan. When jobs were being lost, and the economy tanked, most people expected remittances to fall. But the reverse seems to have happened in Pakistan.
How much?
$14 billion in remittances from Jul-Dec 2020.
Saudi Arabia and the UAE accounting for over 50%.
How come?
TRT World has a detailed explanatory piece. Here are some possible explanations:
Since personal travel was restricted, people could not carry cash. This led to more bank transfers (instead of people bringing along cash)
Unofficial channels declined due to travel restrictions, forcing people to adopt the official route.
Savings for Pilgrimage: Since Hajj travel was suspended, money saved for pilgrimage is likely being remitted back home.
Exchange rate variations.
Data
Have a look at the data at the State Bank of Pakistan.
4. Follow Up: Myanmar
People worried, But No panic
Myanmar faced coups in 1962 and 1988. And hence, people are worried, but there is no panick, says Vox.
Shades of Trump in Not Accepting Election Results
The Myanmar military did not accept the November 2020 election results, reminiscent of what Donald Trump said about the US November 2020 election. Trump seems to have provided the rhetorical ammunition to the Myanmar Army (Business Insider).
Military Takeover or Coup or Cabinet Reshuffle
The US is debating whether to term it as a “military takeover” or a “coup” (CNN).
Major Cabinet Reshuffle, says Xinhua.
Challenge for Biden
Newly elected US President Joe Biden faces a major challenge with the Myanmar coup, and his commitment to democracy is being tested (CNN).
Myanmar generals are betting big on China, says this piece in The Bangkok Post.
Biden’s statement can be read here (White House).
How Countries Reacted
India expresses ‘deep concern’ over military coup in Myanmar (The Hindu)
Pakistan seeks restraint (Radio Pakistan)
Nepal hopes to see democratic and constitutional process restored soon (My Republica)
Sri Lanka is monitoring carefully (Daily News)
5. DriveIn for the Great Indian Film and Literature Festival (GIFLIF)
The Great Indian Film and Literature Festival (GIFLIF) will have a DriveIn version this year at Bhopal in Madhya Pradesh.
What’s on the Menu
Three bands each would perform at the two festival days. They include the Indian Ocean Band. an Egyptian-Iranian band, thee Kabir Café Band (Free Press Journal).
Dates
13-14 February 2021
Details
More details at the GIFLIF website: https://giflif.in/
Watch the GIFLIF Video
ARCHIVES: https://thesubcontinent.substack.com/archive
Subscribe: It is Free!