madurai l saturday l february 01, 2025 l `9.00 l PAGES 14 l late city EDITION brace for an unusually hot february with little rain: imd Most parts of India are expected to experience above-normal temperatures and below-normal rainfall in February, the IMD said on Friday impact on crops and advisory for farmers The hot and dry weather conditions may cause premature bud break and early flowering in apple and stone fruits. Wheat crops at the flowering and grain filling stages may experience significant adverse impacts, while mustard and chickpea are likely to experience early maturity. The IMD advised farmers to use intermittent light irrigation to prevent crop loss ■ 1901 4.5 mm rain in january cause for concern ■ The country’s mean temperature in January was 18.98 ºC, the third highest for the month in more than a 100 years India received an average of 4.5 mm of rainfall in January, making it the fourth lowest since 1901 and the third lowest since 2001, the India Meteorological Department said on Friday | P9 january 2025 was the third warmest in 124 years CHALLENGES Geopolitical, trade uncertainties, and commodity price shocks could upset growth projections STATE OF THE INDIAN ECONOMY GROWTH FY25 Real GDP projected to grow by 6.4% Agriculture and services pushed growth in first half of FY25 FY26 India to grow in the range of 6.3% and 6.8%. If exports pick up, add another 0.5% to 1% growth 2047 goal India needs to grow at 8% for 20 years to become a developed nation by 2047. Also, investment rate must rise to 35% of GDP, up from 31% now INFLATION Retail inflation softened from 5.4% in FY24 to 4.9% in April–December 2024 However, food inflation shot up from 7.5% in FY24 to 8.4% in FY25 (April-December) Overall, the risk to inflation from increases in commodity prices seems limited in FY26 Economic Survey 2024-25 Get out of the way of growth, says Survey FOREX 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 $634.6 bn as on Jan 3, 2025 $616.7 bn as on January 31, 2024 90% The forex reserves are sufficient to cover 90% of India’s external debt ‘Getting out of the way’ and allowing businesses to focus on their core mission is a significant contribution that governments around the country can make to foster innovation and enhance competitiveness V Anantha Nageswaran, CEA The ‘business as usual’ attitude will lead to growth stagnation, warns the Economic Survey Real income in FY24 less than FY18 levels The real monthly income of male salaried workers was 6.4% lower in FY24 compared to FY18, the Economic Survey said quoting Periodic Labour Force Survey data. For female workers, the inflation-adjusted monthly income was 12.5% lower in FY24 Long work, junk food may hit mental health Cautioning against putting in long work hours, the Survey flags the adverse health effects. It says people who spend 12 hours at desk have struggling levels of mental well-being. The Survey also notes that individuals who rarely consume ultra-processed or packaged junk food have better mental well-being than those who regularly do DI PAK MONDAL @ New Delhi INDIA’s economy is powering down due to multiple factors— both domestic and global—and the ‘business as usual’ approach would only lead to growth stagnation. This is the clear message from the Economic Survey 2024-25, tabled in Parliament on Friday . Presented a day before the Budget, the Survey illustrates the challenges India has to surmount to meet the ambitious target of becoming a developed nation by 2047. To realise the Viksit Bharat dream, the country needs to grow at a high rate of 8% for the next two decades—a challenging task given that the growth forecasts for FY25 and FY26 are less than 7%. The Survey expects FY26 growth to be within a range of 6.3% and 6.8%, which is in line with the prediction of many national and international agencies. “To achieve the target of Viksit Bharat by 2047, India needs to grow at a nominal rate of 10% in dollar terms,” Chief Economic Advisor V Anantha Nageswaran said in a press briefing on Friday . The Survey calls for an overhaul in approach to achieve the target. Its prescription for growth includes deregulation, augmenting internal capabilities, and shedding the business-as-usual approach. It advocates the need to improve India’s global competitiveness through grassroots-level structural reforms and deregulation. The Survey, which had last year advocated for better collaboration with China for giving a boost to the manufacturing sector, sings a different tune this year as it identifies the neighbouring country posing the ‘single-source concentration risk’. It says India depends on China for several products, which exposes it to First in 10 yrs, no foreign bid to stoke pre-session row: PM potential supply chain disruptions, price fluctuations and currency risks. Wading into the debate over long working hours, the Survey warns companies against making their employees spend long hours at work. “Individuals who spend 12 or more hours at a desk have distressed/struggling levels of mental well-being, with a mental well-being score approximately 100 points lower than those who spend less than or equal to two hours at a desk,” it says citing the Sapien Labs Centre for the Human Brain and Mind study . Like in the previous year, the Survey has once again redflagged excessive financialisation of the Indian economy It . says the financial markets must grow in line with the real economy and not faster than the economy’s capital needs and overall economic growth. Amid the noise over artificial intelligence, the Survey advises companies to use AI with sensitivity . In a rather sharp remark, Prime Minister Narendra Modi on Friday said that for the first time since 2014, no foreign attempts were made this year to stoke trouble before the start of a Parliament session. He was speaking to journalists ahead of the start of the Budget session on the premises of Parliament. RAJESH KUMAR THAKUR / P r e e t h a N a i r @ New Delhi “Shayad 2014 se lekar ab tak, ye pehla Parliament ka satr hai, ki jiske ek-do din pehle koi videshi chingari nahi pakdi hai, videsh mein se Congress leader Sonia Gandhi’s comments aag lagane ki koshish nahi hui hai (Perhaps about the hour-long address of President Drousince 2014, this is the first session of Parliapadi Murmu to Parliament on Friday gave ment in which a day or two before the sesthe BJP ammunition to launch a scathing First sion, there has been no foreign attempt attack on the grand old party . to stoke a fire from abroad),” Modi said. “The poor lady the President, was get, day, first He did not elaborate. ting very tired by the show With the NDA governend... she could hardly ment tabling its first fullspeak, poor thing,” Sonia fledged budget in its third was heard saying in a viral I hope that we The President term on February 1, Modi invideo on social media. will live up to was not tired at voked Goddess Lakshmi and While Rashtrapati Bhavan any point. the hopes and said they were in “poor taste, Indeed, she has the said he prayed that the goddess unfortunate and unacceptable,” believed that aspirations of of wealth blesses the people of Prime Minister Narendra Modi speaking up for the country in the country with prosperity this budget and success. “The people of the accused the ‘royal family’ of the the session of country have given me this reCongress of insulting the Presi- marginalised Parliament sponsibility for the third time, dent, who hails from a tribal communities ... and this is the first full budget background. BJP president J P can never be Narendra Modi, tiring of our third term. Many imporNadda termed Sonia “poor Prime Minister tant decisions will be taken in thing” phrase “deeply disre- Rashtrapati Bhavan the current budget session. I can confidently spectful” and indicative of the say that in 2047 when the country will celebrate opposition’s feudal mindset and disregard for 100 years of Independence, the resolution of a the dignity of the highest Constitutional office. developed India that the country has taken will However, the Congress defended the remarks create a new confidence and infuse a new saying every Indian respects the President and energy .” accused the BJP of being unable to accept SoReaffirming his commitment to developnia’s empathy for Murmu’s health. Congress ment, Modi said his government is moving in chief Mallikarjun Kharge said that BJP and a mission mode for all-round progress. “In the the media were twisting her statement. Priyathird term, we are moving ahead towards allnka Gandhi Vadra said: “My mother is a 78round development of the country ... innovayear-old lady, she has simply said that ‘the tion, inclusion and investment have constantly President read such a long speech and she been the basis of the roadmap of our economic must have been tired, poor thing’. She fully reactivity he said. ,” spects the President of India.” Message to Trump: No de-dollarisation policy J aya n t h J a c o b @ New Delhi INDIA on Friday reaffirmed that de-dollarisation is neither its policy nor strategy, after President Donald Trump warned BRICS nations against replacing the US dollar as a reserve currency, reiterating a threat of 100% tariffs he made weeks after his November election victory . “On de-dollarisation, External Affairs Minister has made it clear that we don’t have any policy or strategy in this regard,” External Affairs Ministry spokesperson Randhir Jaiswal said. Reiterating his early statement on the issue, Trump had posted on Truth Social on Thursday: “We are going to require a commitment from these seemingly hostile countries that they will neither create a new BRICS currency, nor back any other currency to replace the US fact file 1914 The old Pamban bridge was commissioned in Feb 1914 Don’s open threat `535cr Trump has consistently opposed de-dollarisation and any manouevres to undermine the dollar. “The idea that BRICS is trying to move away from the Dollar, while we stand by and watch, is over,” Trump said. dollar or, they will face 100% tariffs.” BRICS group of countries including India, China and Russia account for 40 per cent of global population and an estimated one-third of global GDP . Although the BRICS countries have explored the idea of an alternative currency, the idea remains far from realisation as unlike other grouping such as the European Union, they lack a common market or unified trade policy In . the last summit of the grouping, BRICS count r i e s, h oweve r, h a d stressed on the need for trade in local currencies and smooth cross-border payments. ‘guvdownplays Ravi’s comments finds fault’ CM stalin “The governor finds fault with the state govt, not in one or two issues... Whatever he does adds value to the govt... I request him to continue doing that,” he said | P4 Sonia’s remark on Prez sparks controversy r a j e s h k u m a r t h a k u r @ New Delhi The cost of the new Pamban bridge To new beginnings For the first time in two years, complete (but empty) passenger rakes of two trains were run across the new Pamban railway seabridge on Friday. The centre lift spans of both the old and new Pamban bridges were also raised to allow Indian Coast Guard ships and fishing boats to pass through | Express | P5 first paediatric registry Kid cancer treatment from day 2 of diagnosis in Chennai E x p r e s s N e w s S e r v i c e @ Chennai CHENNAI Population-Based Childhood Cancer Registry (PBCCR), the first high-resolution dataset in India exclusively for paediatric cancer, launched by the Cancer Institute on Friday showed that the median time from onset of symptoms to diagnosis of cancer was 12.5 days while median time from diagnosis to the start of treatment was just two days in Tamil Nadu. The registry was established in October 2022. The institute also maintains the Madras Metropolitan Tumour Registry , a general population registry, that has been collecting data since 1981. According to the PB- Among boys, cancer detected most in 0-4 yrs The age-specific rate (ASpR) was highest (197.8) at 0-4 years among boys, and (192.4) at 10-14 years among girls per million population. ASpR refers to cases diagnosed in a year in the given age group divided by estimated mid-year population of the age group in that year. CCR, in 2022, 241 cases were recorded in Chennai, which included 139 boys and 102 girls. Of these, 170 cases were analysed. Dr R Swaminathan, who heads the Cancer Registry, said the dedicated registry for childhood cancer captures more granular data, including on socio-economic and demographic background of patients and of treatment taken at institutions.  P7 Both in ramnad 2 more Ramsar sites take total to 20 in state EX P RESS NEWS SERVICE @ Chennai Tamil Nadu has further strengthened its position as India’s leading state in wetland conservation with the declaration of two new Ramsar sites — Sakkarakottai Bird Sanctuary and Therthangal Bird Sanctuary both located in Ra, manathapuram district. These additions bring the total number of Ramsar sites in the state to 20, the highest in the country . The Sakkarakottai Bird Sanctuary spans 230.495 hectares while the Therthangal Bird Sanctuary covers 29.295 hectares. Both sanctuaries meet all the important Ramsar criteria. They lie along the Central Asian Flyway and are critical breeding and foraging grounds for waterbirds, including the Spot-billed Pelican, Black-headed Ibis, and Oriental Darter. These wetlands also play a crucial role in climate regulation, recharging of groundwater, and irrigation, benefiting the livelihoods of local communities. The declaration reinforces TN’s efforts under the Tamil Nadu Wetlands Mission, the first state-led initiative in India exclusively focused on wetland conservation and restoration. P7