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Thu 23rd of November 2017

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Cabinet approves SASEC Road Connectivity Investment Program

The Cabinet Committee on Economic Affairs chaired by the Prime Minister has given its approval for upgradation and widening of 65 kms of Imphal-Moreh Section of NH-39 in Manipur.

  • The project is being developed with ADB’s loan assistance under the South Asian Sub-Regional Economic Cooperation (SASEC) Road Connectivity Investment Program.
  • The project corridor is also a part of the Asian Highway No. 01 (AH01) and acts as India’s Gateway to the East. Thus trade, commerce and tourism in the region will get a boost.

SASEC Programme:

In 2001, Bangladesh, Bhutan, India, and Nepal formed the South Asia Sub-Regional Economic Cooperation (SASEC) programme, which the Maldives and Sri Lanka joined in 2014.

  • Under SASEC programme, these countries have worked together to build power plants, highways, rail systems and fibre optic networks to expand and improve Internet access.
  • It is a project-based partnership to promote regional prosperity by

* Improving cross-border connectivity,
* Boosting trade among member countries, and
* Strengthening regional economic cooperation.

  • The Asian Development Bank (ADB) is the secretariat and lead financier of the SASEC programme.

SASEC Road Connectivity Investment Program (SRCIP):

  • SRCIP is a strategic initiative that aims to achieve regional integration among the members of the SASEC group by improving road connectivity within the North Bengal-North Eastern Region in India.
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Prelims Question of the Day

With reference to 'Natural Rate of Unemployment', consider the following statements.

1. It is the level of unemployment in an economy that is just consistent with a stable rate of Inflation.

2. It is the unemployment that prevails when all markets in the economy are in equilibrium.

 

(a)1 and 2

(b)2 only

(c)1 only

(d)None of the above

Mains Question of the Day

1.GS-No party in power can afford to ignore Directive Principles of State Policy. Comment.(200 Words)

2.Political Science - Explain the role of non state actors, like IMF, World Bank, European Union and MNCs, in modulating and transforming the broad dynamics of international relations. (250 Words).

3.SOCIOLOGY - What is the impact of Globalization on the structure and mobilization of the working class in India? (250 Words).

Sociology - Thinkers