I need a few more days to realise what just happened. Oh my god, I’m speechless, to be honest - Aryna Sabalenka chennai l sunday l January 29, 2023 l `12.00 l PAGES 24 l vellore EDITION sabalenka lights up melbourne ‘aryna’ the belarusian roars back in final Aryna Sabalenka beat Wimbledon champion Elena Rybakina at Australian Open on Saturday Hard work pays off The 24-year-old from Belarus dropped her first set of 2023 in the final but roared back to win 4-6, 6-3, 6-4. Sabalenka has now won all 11 matches she has contested this season. Big-serving Rybakina is the latest to succumb to her power game and new-found mental strength. It is in stark contrast to a year ago when Sabalenka’s serve and nerves were her biggest enemies ■ Sabalenka hit an astonishing 51 winners and 17 aces in 2 and 1/2 hours of gruelling tennis. She now has 4-0 record against Rybakina ■ The men’s final will be played between Novak Djokovic of Serbia (chasing his 22nd Slam title) and Greek Stefanos Tsitsipas (yet to win a Major). Djokovic has never lost an Australian Open final | P11 No. 2 Sabalenka will now rise to second in the world rankings 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 Big outlay for capital spend in TNSE shadow budget S u n i t h a N at t i There are budget wish lists. There are sectoral spending estimates. Then there are income and expenditure projections with achingly specific detail on fiscal deficit. But few venture on a complex, national accounting exercise, which looks and talks exactly like a union budget. In a first, this newspaper gave it a shot. The Shadow Budget 2024 explored if there are any different and efficient ways of maximising income and expenditure. Turns out, there aren’t many . Anil K Sood, Founder, Institute for Advanced Studies in Complex Choices, an economic research firm, painstakingly punched in the numbers and proposed, what he calls, a business-as-usual budget for FY24. Sood’s sums include an exhaustive account of revenue and spending, broken down all the way to department-wise revenue and capital expenditure allocations, alongside the receipts budget comprising tax, non-tax revenue and debt and capital receipts. Given the uncertain global conditions, he pegged real GDP growth at a conservative 6% in FY24. In all, expenditure budget was set at `45.67 lakh crore, an increase of 11.1% over FY23’s revised estimates of `41 lakh crore, up from the budget estimate of `39 lakh crore. As a percentage of GDP, FY24 expenditure stood at 15.2%. Gross tax revenue will likely increase by 13.1% at `34.40 lakh crore. He proposed no changes to personal income taxes but expects FY24 budget to tinker with the long-term capital gains tax. Within indirect taxes, GST 1 IAF pilot dead, 2 safe as Sukhoi, Mirage jets crash Mid-air collision angle during operational training being investigated A n u r a a g S i n g h @ Bhopal Two front-ranking combat fighter jets of the Indian Air Force — a Mirage-2000 and a Sukhoi Su-30 — crashed in Morena district of Madhya Pradesh on Saturday morning. Confusion persisted over whether there was a midair collision between the Russian-designed Sukhoi Su-30 and French Mirage-2000. IAF officials merely said the two fighters were on a routine operational training mission. A pilot identified as Wg Cdr Hanumanth Rao Sarathi (flying the Mirage-2000) died in the accident. The two other pilots (flying the Sukhoi Su-30) ejected safely and were flown away by an IAF helicopter for medical treatment. The SU-30MKI is a twin-seater combat jet, while the Mirage 2000, manufactured by French aerospace major Dassault Aviation, is single-seater. Villagers said the body parts of the dead pilot were scattered in a large area, where the debris of the Mirage-2000 he was will likely retain its star performance with a 14.3% growth, while customs and excise duties together will likely fetch a handsome `5.7 lakh crore revenue. Still, borrowings are estimated to jump 4.8% to `17.85 lakh crore, while fiscal deficit is pegged at 5.9% in FY24. A similar 50-60 bps deficit correction next two years should help meet the 4.5% target by FY26. Subsidy outgo will likely moderate at `4.25 lakh crore, or 1.4% of GDP, while capital expenditure is expected to increase by a neat 13.3%. At `8.15 lakh crore, it accounts for 2.67% of GDP . P10 Rare loss Sources said it is the first time the Air Force is losing a Mirage 2000 or a Sukhoi-30MKI in a crash We spotted them on the ground 15-20 minutes later.” While the two IAF fighters crashed in Manpur village of Pahargarh forest area in Morena district of MP’s GwaliorChambal region, the major portion of the Sukhoi was strewn in the Pingora area of Bharatpur in Rajasthan. Morena district collector Ankit Asthana said both aircraft crashed in Morena district’s territory but since the ejection , of the pilots happened safely from the Su-30 aircraft at a high altitude, both landed safely in Morena, while their aircraft crashed into the jungles of Bharatpur in Rajasthan. The IAF has ordered an inquiry . M aya n k S i n g h @ New Delhi India is gradually reorienting its nuclear deterrence posture and widening its focus from Pakistan to China, according to a research paper published by the Bulletin of the Atomic Scientists. It claims India is strengthening its nuclear triad and will increase its production of weapons-grade plutonium required to produce nuclear warheads. The paper jointly written by Hans M Kristensen and Matt Korda titled ‘Indian nuclear weapons, 2022’ says while In- cm TO Review schemes CM Stalin would launch ‘Kala Aaevil Mudalvar’ scheme to review govt programmes. It will begin on Feb 1 and 2 from Vellore district | P4 State’s artificial reef model goes pan-India S V KRI S HNA CHAITANYA @ Chennai new name, old charm Flowers blooming at Amrit Udyan of Rashtrapati Bhavan. The iconic Mughal Gardens was renamed as Amrit Udyan on Saturday and will open to public from Jan 31 | PTI To promote sustainable fishing and improve the livelihood of fishermen, the union government has decided to replicate Tamil Nadu’s successful model of setting up artificial reefs in 3,477 villages along coastline across the country . Artificial reefs deployed in 131 places along the state’s coast, with the assistance of Central Marine Fisheries Research Institute (CMFRI), have led to four-to-seven fold jump in fish production, sources said. The primary beneficiaries of the initiative are small and traditional fishermen. CMFRI scientist Joe K Kizhakudan, who deployed the reefs, told TNIE that the union government’s department of fisheries has chosen the Tamil Nadu model after multiple rounds of talks and performance analysis. Continued on P5 b u ff e r z o n e CMDA mulls green TDR to save waterbodies C S h i v a k u m a r @ Chennai To create buffer zones to save waterbodies from encroachments, the Chennai Metropolitan Development Authority (CMDA) is considering a proposal to acquire land parcels located near waterbodies in exchange for green transferable development rights (TDRs). TDR is a compensation issued in the form of Floor Space Index (FSI) or development rights which shall entitle the owner of the certificate to con- struct additional built-up area over and above the limit otherwise stipulated for an area. At present, FSI credit issued in the form of development right certificate (DRC) by planning authorities. The certificate will have details such as FSI credit in square metres of the builtup area to which the owner or lessee is entitled to, the place from where it was generated, and the rate of the area as prescribed in the guideline value at the time of the issuance of the certificate. A report prepared by consulting firm Cushman and Wakefield, which had undertaken the study for Chennai Metropolitan Area, has suggested three kinds of green TDRs. P4 FY23 BE categories Total Expenditure Total Receipts Revenue receipts Net tax revenue B orrowings and other Liabilities/Fiscal deficit Primary deficit What’s a shadow budget FY23 SBE FY24 SBE 39,44,909 39,44,909 22,04,422 19,34,771 41,12,597 41,12,597 23,47,280 20,63,662 45,67,959 45,67,959 26,91,670 23,70,367 11.1 15.07 16,61,196 7,77,298 17,03,110 7,20,545 17,85,353 7,52,214 4.8 FY24 SBE FY24 SBE % growth % of GDP 11.1 15.07 14.7 8.8 14.9 7.82 5.9 4.5 2.39 Prevalent in countries like the UK. Presented by the opposition, involving economists, think tanks, academics and civilians, it offers an alternative take on spending and revenue raising measures China focus of Indian N-arms: Report Burning debris of a fighter jet that crashed in Madhya Pradesh’s Morena district | PTI flying was also found. Local villa g e sar panch Shailendra Shak ya said: “Flashes of fire were seen in one of the aircraft’s rear portions, after a boom. While one of the planes which had caught fire was seen nosediving into the Pahargarh forests, the other aircraft glided towards the forest area of adjoining Rajasthan. We also saw two pilots descending with their parachutes. Budget at a glance (In crore rupees) What is TDR? TDR is a compensation issued in the form of FSI or development rights which will entitle the owner to construct additional builtup area over and above the limit stipulated for an area. dia’s primary deterrence relationship is with Pakistan, its nuclear modernisation indicates it is putting increased emphasis on its future strategic relationship with China. “Nearly all of India’s new Agni missiles have ranges that suggest China is their primary target. This posture is likely to have been reinforced after the 2017 Doklam standoff,” it said. The expansion of India’s nuclear forces against a militarily superior China (in terms of both conventional and nuclear forces) will result in significant new capabilities being deployed over the next decade, the research paper said. “This development could potentially also influence how India views the role of its nuclear weapons against Pakistan,” it added. Quoting an analyst, it said, “we may be witnessing what I call a ‘decoupling’ of Indian nuclear strategy between China and Pakistan. The force requirements India needs in order to credibly threaten assured retaliation against China may allow it to pursue more aggressive strategies — such as escalation dominance or a ‘splendid first strike’ — against Pakistan.” WITH THIS ISSUE By the Book PLUS 12 PAGES
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