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China aims to achieve substantial progress in all-around rural revitalization by 2027

China

China

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China aims to achieve substantial progress in all-around rural revitalization by 2027

2025-01-22 21:08 Last Updated At:22:37

China aims to achieve substantial progress in all-around rural revitalization and promote the modernization of agriculture and rural areas to a new stage by 2027, according to a plan issued by the Central Committee of the Communist Party of China and the State Council.

Focusing on building up China's strength in agriculture, the plan urges efforts to refine the long-term mechanisms for promoting all-around rural revitalization.

Work must be done to ensure national food security and prevent a large number of rural residents from falling back into poverty again, the plan notes, adding that efforts must be made to promote the development of rural industries, rural areas and rural governance.

At the same time, the strengths of science and technology and reform should be leveraged, and more measures should be taken to increase rural residents' incomes, it states.

According to the plan, China also aims to further strengthen the foundation of food security, promote the growth of rural industries, and enhance the environment of rural areas, transforming them into places that are pleasant to live and work.

The plan also sets out other targets and goals, including improving the effectiveness of rural governance, enhancing farmers' quality of life, and increasing their income.

Villages in the developed regions and those with favorable conditions should take the lead in achieving the modernization of agriculture and rural areas, according to the plan.

According to the plan, China aims to make decisive progress in rural revitalization and basically achieve modernization of agriculture and rural areas by 2035.

China aims to achieve substantial progress in all-around rural revitalization by 2027

China aims to achieve substantial progress in all-around rural revitalization by 2027

China aims to achieve substantial progress in all-around rural revitalization by 2027

China aims to achieve substantial progress in all-around rural revitalization by 2027

China aims to achieve substantial progress in all-around rural revitalization by 2027

China aims to achieve substantial progress in all-around rural revitalization by 2027

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India's central bank cuts repo rate to 6.25 pct for 1st time in nearly 5 years

2025-02-09 17:03 Last Updated At:17:37

India's central bank, the Reserve Bank of India (RBI), on Friday announced a reduction in repo rate by 25 basis points to 6.25 percent.

The repo rate is the rate at which the central bank lends money to commercial banks in the event of a shortfall of funds.

The move has been undertaken to boost the economy.

RBI Monetary Policy Committee (MPC) last reduced the repo rate in May 2020 and kept it unchanged in the last 11 policy meetings.

After assessing the current and evolving macroeconomic situation, the MPC unanimously decided to reduce the policy repo rate under the liquidity adjustment facility by 25 basis points to 6.25 percent with immediate effect, said a statement issued by the RBI.

Consequently, the standing deposit facility rate shall stand adjusted to 6.00 percent and the marginal standing facility rate and the Bank Rate to 6.50 percent. The MPC also decided to continue with the neutral monetary policy stance and remain unambiguously focused on a durable alignment of inflation with the target, while supporting growth.

According to the RBI, these decisions are in consonance with the objective of achieving the medium-term target for consumer price index inflation of 4 percent within a band of plus and minus 2 percent, while supporting growth.

According to the National Statistical Office (NSO), India's GDP is estimated to grow at 6.4 percent for the financial year 2024-25, compared to the initially-projected 7.2 percent in October last year.

India's central bank cuts repo rate to 6.25 pct for 1st time in nearly 5 years

India's central bank cuts repo rate to 6.25 pct for 1st time in nearly 5 years

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