Maha Kumbh likely to generate over Rs 4 lakh crore in trade
As Maha Kumbh began in Prayagraj at the holy confluence of the revered Ganga, Yamuna and Saraswati rivers, the largest religious congregation on Earth is anticipated to generate more than Rs 4 lakh crore in trade in a significant boost to India's economy, The South Asian Times reported.
As per industry estimates, Maha Kumbh is expected to boost both nominal and real GDP by over 1 percent. The Uttar Pradesh government expects approximately 40 crore visitors, both domestic and international, to attend the event.
According to government estimates, Maha Kumbh may generate Rs 2 lakh crore in trade if each of 40 crore visitors spends an average of Rs 5,000.
Industry estimates further say that the average expenditure per person could rise to even Rs 10,000 at the mega event, and the total economic impact could reach Rs 4 lakh crore.
Meanwhile, companies from India as well as abroad are fighting for space to showcase their presence during the 45-day event.
From fast-moving consumer goods (FMCG) to pharma sectors, from mobility providers to digital payments platforms, companies have loosened their marketing purse strings, and are set to spend more than Rs 3,000 crore on branding and marketing at Maha Kumbh, according to industry experts.
Public sector giant Steel Authority of India Limited (SAIL) has supplied approximately 45,000 tonnes of steel for the construction of various structures at the Maha Kumbh Mela 2025, according to The South Asian Times.
The steel supplied by the company includes chequered plates, hot strip mill plates, mild steel plates, angles and joists, according to a statement issued by the Maharatna company.
Prayagraj has undergone a major makeover ahead of the biggest congregation of the followers of Sanatan Dharma. More than 200 roads have been constructed and upgraded, ensuring seamless connectivity for millions of devotees likely to attend the grand spiritual gathering. The roads have been beautified by placing over 3 lakh plants and 1 lakh horticultural samplings, enhancing their visual appeal.
Public debt reaches over Rs 2, 536 billion
The public debt till mid-January of the current fiscal year has exceeded Rs 2,536 billion.
According to the Public Debt Management Office, Nepal's total public debt has exceeded 44 percent of the Gross Domestic Product (GDP). In the past six months, Rs 102 billion has been added to the public debt.
At the beginning of the current fiscal year that commenced on July 16, the size of public debt was Rs 2, 434 billion 90 million and it rose by Rs 102 billion 30 million to reach Rs 2, 536 billion 130 million by January 15, the Office said in its report.
This constitutes 44.46 per cent of the GDP. The contribution of foreign debt to the total public debt is 51.31 percent amounting to Rs 1301 billion 410 million while the ratio of external debt to the GDP is 22.81 percent.
The Office said that of the total public debt, the internal debt liability amounts to 48.68 percent or Rs 1234 billion 714 million while on the basis of the GDP, this is 21.64 percent and the external debt makes up 22.81 percent.
The government had the target of raising public debt of Rs 547 billion in the current fiscal year (2082-82 BS) and it has raised Rs 240 billion 80 million or 43.89 per cent of the annual target by mid-January or the first half-yearly of the current fiscal.
The government had the target of raising Rs 330 billion as the internal debt in the current fiscal year and it has raised Rs 181 billion 50 million or 54.86 percent.
Similarly, the government has the target of mobilizing Rs 217 billion in external loans and until January 15, it raised Rs 59 billion 30 million or 27.20 million.
The government had allocated Rs 402 billion 850 million budget for reimbursement of the principal and interest of the public debt in the current fiscal year.
Principal and interest worth Rs 182 billion 400 million has been paid by mid-January, the Office stated in its report. The expenditure made for paying the principal and interest until January 15 is 3.20 percent of the total GDP.
AMN Chairman Captain Rameshwar Thapa skydives from 13000 feet
Annapurna Media Network Chairman and Captain Rameshwar Thapa has successfully completed a Tandem Skydiving Jump from an altitude of 13000 feet.
With this, he displayed exceptional courage and adventure spirit.
Tandem Skydive Jump is a skydiving experience where two people jump out of an airplane together, strapped to one another during the entire descent.
Bird census begins from Rapti
The census of water birds has started from the Rapti River in Kusum of Rapti Sonari Rural Municipality-1.
Birendra Kandel, Chief Conservation Officer of Banke National Park, shared that the census has been started from the Rapti River in Banke. “Like every year, this year too we have started the census of water birds from the Rapti River,” he said.
During the bird census this year, various species of birds have been captured on camera on the first day itself.
Ornithologist Ram Shahi, who has reached Rapti for the bird census, said that the bird habitats have been disappearing in recent times.
He said that the bird habitats have been disappearing due to human activities in the river, wetlands and water bodies.
Likewise, Conservationist Ashish Chaudhary said that bird censuses have been conducted every winter for the past three years.
The number of water birds is found to be decreasing due to the construction work being done in the bird habitats, the indiscriminate use of pesticides, and the increasing movement of people, he said.
A team including ornithologists, conservationists, park officials, security personnel and others has been mobilized to count birds in the Rapti River since Saturday.
The team will visit Banke National Park, Rapti River, wetlands and watershed to count birds during their stay in Banke, according to Banke National Park authorities.
During the count, the team will visit Kanti Lake in Nepalgunj, Sutaiya Lake in Baijnath, and Mankhola on the border of Bardiya, among other places, shared ornithologist Shahi.