Among the world's present-day religions, Zoroastrianism, founded more than 3,000 years ago, is one of the most ancient and historically influential. Yet even though its adherents maintain vibrant communities on four continents, they acknowledge their numbers are dauntingly small — perhaps 125,000 worldwide.

Starting on july 8 , about 1,200 attendees from 16 countries will be assessing their faith's prospects during the four-day World Zoroastrian Congress in New York City, the first one held in the United States since 2000.

The World Bank has approved loans totalling USD 1.75 billion (about Rs 13,834.54 crore) to fund India's PM Ayushman Bharat scheme and private investment to boost the economic growth.

Of the total loan, USD 1 billion will go towards the health sector, while the rest USD 750 million will be in the form of development policy loan (DPL) to fill the financing gaps through private sector investment in the economy.

The World Bank Board of Executive Directors approved two complementary loans of USD 500 million each to support and enhance India's health sector.

Through this combined financing of USD 1 billion, the World Bank will support India's flagship Pradhan Mantri-Ayushman Bharat Health Infrastructure Mission (PM-ABHIM), launched in October 2021.

The funds will be used to improve public healthcare infrastructure across the country.

In addition to the national-level interventions, one of the loans will prioritize seven states namely Andhra Pradesh, Kerala, Meghalaya, Odisha, Punjab, Tamil Nadu, and Uttar Pradesh, the multi-lateral funding agency said.

Separately, its board approved the DPL to the union government to support reforms critical to addressing financing gaps by leveraging private sector investment in infrastructure, small businesses, and the green finance markets.

The World Bank said India's performance in the health sector has improved over time.

It has estimated India's life expectancy at 69.8 in 2020, up from 58 in 1990 -- higher than the average for the country's income level.

The under-five mortality rate (36 per 1,000 live births), infant mortality rate (30 per 1,000 live births), and maternal mortality ratio (103 per 1,00,000 live births) are all close to the average for India's income level, reflecting significant achievements in access to skilled birth attendance, immunizations, and other priority services, the World Bank said.

It said despite these advances in the health sector, COVID-19 has underscored the need for revitalizing, reforming, and developing capacity for core public health functions, as well as for improving the quality and comprehensiveness of the health service delivery.

Under health, two loans-- Public Health Systems for Pandemic Preparedness Programme (PHSPP) and Enhanced Health Service Delivery Programme (EHSDP) -- are designed to be complementary and transformational in impact.

It will support the Indian government's reform agenda to accelerate universal coverage, improve quality, and increase the resilience and preparedness of the health system, the World Bank said.

PHSPP will support the government's efforts to prepare India's surveillance system to detect and report epidemics of potential international concerns; enhancing capacity to detect pathogens, including zoonotic diseases and strengthen coordination and build institutional capacity of core public health institutions.

EHSDP will support the government's efforts to strengthen service delivery through a redesigned primary health care model; improve quality of care by supporting the National Quality Assurance Standards certification across Health and Wellness Centres (HWCs); and transform the health sector governance and accountability by strengthening implementation capacity.

About the DPL, the World Bank said the Indian government has taken several measures over the past decade to improve financial inclusion as well as the stability of the financial sector and the domestic capital markets.

For infrastructure and micro, small and medium enterprises (MSMEs), the annual finance gap is estimated at 4 per cent of GDP and between Rs 18.25 lakh crore, respectively.

In addition, the World Bank estimates show that the energy transition required to meet the government's COP26 commitments will require an annual cumulative investment of 1.5 per cent of GDP.

This operation aims to reduce the pressure on public finances by leveraging private resources to support the country's development goals, the official said.

Of the USD 750 million commitment, USD 667 million will be a loan from the International Bank for Reconstruction and Development and USD 83 million will be financed by a credit from the International Development Association (IDA), the World Bank's concessionary lending arm.

The government will fund a pilot project of state-owned firms BSNL and ITI along with startups for developing indigenous technology for 4G, 5G and E- band spectrum services.

Government's telecom research organisation C-DoT will also be involved in the project which has played a key role in developing first made-in-India 4G and 5G telecom network technology in collaboration with TCS-Tejas Networks.

The Universal Service Obligation Fund (USOF), under its programme for induction of new technological developments in the telecom sector in rural and remote areas, is funding four pilot projects each of around Rs 10 crore enabling the development and hardening of these technologies.

The Central Board of Direct Taxes (CBDT) has excluded gift cards, vouchers, mileage points, reward points and loyalty cards from the definition of virtual digital assets (VDA) such as cryptocurrencies and non-fungible tokens(NFTs).

This means, tax applicable on VDAs will not be applicable for these products. “Mileage points, reward points or loyalty card, being a record given without direct monetary consideration under an award, reward, benefit, loyalty, incentive, rebate or promotional program that may be used or redeemed only to obtain goods or services or a discount on goods or services,” CBDT said.

Apart from these, subscriptions to websites or platforms or applications will also be excluded from VDAs. Meanwhile, from July 1, 1% Tax deducted at source (TDS) on VDA transactions have come into effect. Crypto exchanges have said that they are complying with the new directive on 1% TDS.

TDS on VDAs come into effect from  July 1

Indian runner Parul Chaudhary smashed the national record at the Sound Running meet in Los Angeles as she became the first athlete from the country to clock a sub-nine minute time in the women's 3000m event.

The 27-year-old Chaudhary covered the distance in 8:57.19 to finish third on july 2 .

With her latest effort, Chaudhary, who specialises in steeplechase, broke Suriya Loganathan's record of 9:04.5s, set six years ago in New Delhi.

Chaudhary was trailing at fifth spot in the the race, but the Indian gained momentum in last two laps to claim a podium finish.

The 3000m is a non-Olympic event in which the Indians don't often compete in.

Chaudhary is also in the Indian team for the World Championships in Oregon, USA, starting later this month.

She will be competing in the women's 3000m steeplechase event.

She had won the gold in women's 3000m steeplechase at the nationals held last month in Chennai.

The Indian Under-15 Greco Roman Wrestling Team clinched two gold, two silver and four bronze medals in the Under-15 Asian Wrestling Championship being held at Bahrain.

On july 2 bouts in all 10 weight categories of Greco Roman Style were held and India clinched a total of 8 medals. The medal winners are, Sachin in the 68 kg, while Abhay in the 72 kg bagged gold medals in their respective categories.

While Pranay Choudhary bagged silver in 52 kg and Varun Kumar in 62 kg category. Varun Sonkar (38 kg), Aditya Kumar (48 kg), Tushar Patil (57 kg) and Hardeep (85 kg) bagged bronze medals in their respective categories.

Iran clinched Asia Title with 205 Points while Kazakhstan was runner-up with 192 Points and India secured 3rd place as they gained 172 Points. 

The Enforcement Directorate (ED) has summoned former Mumbai police commissioner Sanjay Pandey on July 5 in connection with a money laundering case.

The summons were sent on july 2 to Pandey, who retired from the police force on June 30.

The day-old Shiv Sena-BJP government in Maharashtra will face the floor test on July 4.

BJP MLA Rahul Narvekar filed the nomination on july 1  for the post of Assembly Speaker.

Election for the post, if needed, will be held on July 3, when the special two-day session of the House begins.