EU deal to ban Russian oil import The ban will affect oil that arrives by sea — around two-thirds of imports Exemption for oil delivered via pipeline to safeguard landlocked Hungary’s energy security EU currently pays €400 billion KOZHIKODE l wednesday l june 01, 2022 l `9.00 l PAGES 12 l city EDITION a year to buy oil and gas from Russia Ukrainian demonstrators demand an embargo on Russian oil prior to an EU meet in Brussels on Monday | AP Move is aimed at pressuring Russia to end its invasion of Ukraine $123.82 per barrel Brent crude price on Tuesday CHENNAI ■ MADURAI ■ VIJAYAWADA ■ BENGALURU ■ KOCHI ■ HYDERABAD ■ VISAKHAPATNAM ■ COIMBATORE ■ KOZHIKODE ■ THIRUVANANTHAPURAM ■ BELAGAVI ■ BHUBANESWAR ■ SHIVAMOgGA ■ MANGALURU ■ TIRUPATI ■ TIRUCHY ■ TIRUNELVELI ■ SAMBALPUR ■ HUBBALLI ■ DHARMAPURI ■ KOTTAYAM ■ KANNUR ■ VILLUPURAM ■ KOLLAM ■ TADEPALLIGUDEM ■ NAGAPATTINAM ■ THRISSUR ■ KALABURAGI Economy crawled in FY22’s last quarter to 4.1% No risk of recession, says Chief Economic Advisor V Anantha Nageswaran; hopes pvt investment would pick up in H2 E x p r e ss N e ws S e r v i c e @ New Delhi INDIA’s GDP growth for the January-March 2022 quarter slowed to 4.1% compared to 5.4% in the year-ago period, data released by the Ministry of Statistics on Tuesday showed. The growth is the slowest in FY22. In the second and first quarters, growth was 8.5% and 20.3%,respectively . However, the country registered overall growth of 8.7% for full year FY22, compared with the contraction of 6.6% in FY21. Chief Economic Advisor Venkatraman Anantha Nageswaran blamed Omicron for the tepid growth, saying several sectors such as hospitality tourism, , real estate and aviation were im- Telling Numbers Real GDP growth in FY22 was 8.7% lower than the govt’s earlier estimate of 8.9% in February GDP in the fourth quarter rose by 4.1% compared to 5.4% in the third quarter Size of India’s economy (nominal GDP) FY21 FY22 1,35,320 1,96,805 votes polled total votes 70.35 was the polling percentage in the 2021 elections 2011 The year in which the constituency was formed The big chunk of Twenty20-AAP supporters may have stayed away from voting. — D Dhanuraj, chairman, Centre for Public Policy Research higher than that in FY20 CONTRARY to expectations, the highvoltage campaign in the byelection failed to draw people to polling booths in Thrikkakara with only 68.75% of the voters turning up on Tuesday, the lowest since the constituency was formed in 2011. As per the provisional data by the Election Commission, the polling percentage stood at 68.75 at 6 pm, the closing time. The figure is likely to change slightly after the final tallying of the polling data. Of the total 1,96,805 voters in the constituency, 1,35,320 voted, including 67,152 male voters (70.48%), and 68,167 female voters (67.13%). The constituency has more female voters. Polling started briskly recording 15.97% at 9am and crossing 50% by 2 pm. Then the pace started waining and only 18.75% turned up in the final hours. The turnout in the 2021 election in Thrikkakara was 70.35%. The polling percentage in the assembly segment in the 2019 Lok Sabha elections was 76.05%. D Dhanuraj, chairman of Centre for Public Policy Research, said the urban nature of the constituency and the irrelevance of the bypoll in the Kerala politics may have contributed to the slight dip in the turnout than previous ● More on P4 times. all eager P A Shibu-Minimol couple’s triplets Fenix, Felish and Fionna, who have been enrolled in the Cotton Hill LPS in Thiruvananthapuram, are in a happy mood on the eve of the beginning of school year | Vincent Pulickal ‘sets example’ HC allows Fathima, Adhila to live together vour,” said Adhila, 22, a native of Aluva. “To all those who face a THE Kerala High Court reu- similar ordeal, I hope our win nited lesbian pair Adhila sets an example and gives Nazrin, 22, and Fathima Noo- them the strength to fight ra, 23, through a landmark against all odds,” Adhila told verdict on Tuesday and al- TNIE. “When I had posted the lowed them to live together. nightmare we were going Adhila had filed through on social a habeas corpus media, I received petition alleging several messages that Fathima’s from girls facing parents had absimilar issues ducted her on from their family May 24 and forced members,” she her into “conversaid. sion therapy”. Fathima too Fathima Noora(L) and Adhila Nazrin after the verdict The HC asked sounded happy. Fathima to be “Finally I’m with , present before the court on Adhila. I’m happy. But I’m Tuesday. “Inside the cham- also tired, physically and ber, the judge asked us wheth- emotionally I need some rest . er we wanted to live together. and have to settle down,” said We said “yes”. And then, the F a t h i m a , a n a t iv e o f ● More on P4 court order was in our fa- Kozhikode. A I S H W A R YA P R A B H A K A R A N @Kochi C198.01 lakh cr C236.65 lakh cr L1.2 lakh crore A r u n M @ Kochi 68.75% polling growth Private final consumption expenditure, which accounts for 55-56% of GDP, grew 7.9% in FY22 but it is only 68.75%: Lowest voter turnout in Thrikkakara VOTES IN NUMBERS 19% Core sector growth rose to a six-month high 8.4% in April 2022 from 4.9% in March 2022 Centre’s fiscal deficit in FY22 was lower at 6.7% than the revised budgeted target of 6.9% on the back of strong tax collection Govt’s gross tax revenue surged 34% with corporate taxes increasing 55% and income tax collection by 43% pacted. Besides, the RussiaUkraine war hampered growth. Talking to reporters, Nageswaran played down the risk of recession. “I don’t see the prospects of recession for India in FY23. People normally consider two quarters of growth contraction as a recession. As far as India is concerned, I don’t think this is on the cards for FY23.” The CEA also sounded optimistic about private investment in the country, which got adversely affected by the pandemic and geopolitical tensions. He expects it to pick up in the second half of the current year. Commenting on the GDP numbers, Dharmakirti Joshi, chief economist at CRISIL, said: “The Indian economy in fiscal 2022 was only 1.5% above the pre-pandemic level (fiscal 2020), compared with 1.8% estimated earlier. But the estimates for both private consumption and fixed investment estimates are a touch higher than before.” Meanwhile, government finances looked slightly better than expected with provisional data showing fiscal deficit at `15.86 lakh crore was 6.7% of the FY22 GDP against the revised budget estimate of 6.9%. Gross tax collection soared to 34% to `27 lakh crore while net tax collection (after deducting state’s share) stood at `18.2 lakh crore against the revised budget estimate of `17.65 lakh crore. P10 Two media The BJP has announced 22 candidates for EXPRESS barons get the Rajya Sabha polls and will support READ BJP support media barons — Zee’s Subhash Chandra for RS and NewsX’s Kartikeya Sharma| P7
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