tirupati l saturday l february 01, 2025 l `9.00 l PAGES 12 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 4.5 mm rain in january cause for concern 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 ■ ■ The country’s mean temperature in January was 18.98 degree Celsius, 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 | P7 1901 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 DIPAK 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 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 Don’s open threat 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. 2,641 turtles dead in andhra pradesh in january The increase in mortality of olive ridleys during the critical nesting period has raised alarm among conservationists and environmentalists | P4 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 . r a j es h k u m a r t h a k u r @ New Delhi Sonia’s remark on Prez sparks controversy 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 RAJ E S H KUMAR THAKUR a n d P r ee t h a N a i r on the premises of Parliament. @ New Delhi “Shayad 2014 se lekar ab tak, ye pehla Parliament ka satr hai, ki jiske ek-do din pehle koi Congress leader Sonia Gandhi’s comments videshi chingari nahi pakdi hai, videsh mein se about the hour-long address of President Drouaag lagane ki koshish nahi hui hai (Perhaps padi Murmu to Parliament on Friday gave since 2014, this is the first session of Parliathe BJP ammunition to launch a scathing ment in which a day or two before the sesFirst attack on the grand old party . sion, there has been no foreign attempt “The poor lady the President, was get, to stoke a fire from abroad),” Modi said. day, first ting very tired by the He did not elaborate. show end... she could hardly With the NDA governspeak, poor thing,” Sonia ment tabling its first fullwas heard saying in a viral fledged budget in its third I hope that we The President video on social media. term on February 1, Modi inwill live up to was not tired at While Rashtrapati Bhavan any point. voked Goddess Lakshmi and 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 ... background. BJP president J P can never be and this is the first full budget Narendra Modi, tiring Nadda termed Sonia “poor of our third term. Many imporPrime Minister thing” phrase “deeply disre- Rashtrapati Bhavan tant decisions will be taken in spectful” and indicative of the the current budget session. I can confidently opposition’s feudal mindset and disregard for say that in 2047 when the country will celebrate the dignity of the highest Constitutional office. 100 years of Independence, the resolution of a However, the Congress defended the remarks developed India that the country has taken will saying every Indian respects the President and create a new confidence and infuse a new accused the BJP of being unable to accept Soenergy .” nia’s empathy for Murmu’s health. Congress Reaffirming his commitment to developchief Mallikarjun Kharge said that BJP and ment, Modi said his government is moving in the media were twisting her statement. Priyaa mission mode for all-round progress. “In the nka Gandhi Vadra said: “My mother is a 78third term, we are moving ahead towards allyear-old lady, she has simply said that ‘the round development of the country ... innovaPresident read such a long speech and she tion, inclusion and investment have constantly must have been tired, poor thing’. She fully rebeen the basis of the roadmap of our economic spects the President of India.” activity he said. ,” polls on Feb 5 e x p r e ss r e a d CM Naidu to campaign for BJP in Delhi Man’s death sentence for murder commuted Vijayawada: The High Court on Friday commuted the death sentence of a B.Tech student, Kunchala Sasi Krishna, who was accused of murdering a girl in Guntur after she refused to accept his proposal. The court ordered 20 years of rigorous imprisonment. A fastrack court had found the students guilty of murders and sentenced him to death in 2022 E x p r ess Ne w s S e r v i c e @ Vijayawada Gamer kills mom for not letting him play Visakhapatnam: A 20-year-old boy allegedly murdered his mother as she restrained him from playing games online. The incident took place at Coast Guard residential Quarters under Malkapuram police station limits in Visakhapatnam on Thursday. The accused, identified as Anmol Singh (20), is a third-year engineering student | P3 rush hour at registration offices With the State government revising registration charges from February 1, people made a beeline to registration offices across the State to get their land and property registered | G Satyanarayana Mega DSC announcement post MLC polls: Lokesh S V i s w a n at h @ Vijayawada TDP General Secretary and Minister for HRD (Human Resource Development) and IT (Infor mation Technology), Nara Lokesh, announced that the notification for the Mega DSC (District Selection Committee) will be released once the Model Code of Conduct (MCC) imposed for the MLC elections is lifted. Reacting to the YSRCP’s plans to protest over the fee reimbursement issue, Lokesh highlighted that the TDP-led NDA government has already cleared dues amounting to `800 crore out of the total pending `3,000 crore. In an informal interaction with media personnel at the party headquarters in Mangalagiri on Friday the Minister , stated that the recruitment process for teachers would begin in March and be completed before the next academic year starts. Lokesh asserted that the credit for recruiting over 80% The State government is planning to implement an Automated Permanent Academic Account Registry System to track the exact number of students. A special system will also be introduced to prevent dropouts in government schools — N Lokesh, HRD & IT Minister of the teachers in both combined and bifurcated Andhra Pradesh belongs to the TDP government. He added that the current administration is regularly consulting with teachers’ associations and meeting with the Commissioner of the Education Department every Friday to address their concerns. He further explained that feedback from teachers is considered before making deciP4 sions.  TDP (Telugu Desam Party) supremo and Chief Minister N Chandrababu Naidu is scheduled to travel to New Delhi on Sunday to participate in campaigning for BJP (Bharatiya Janata Party) candidates ahead of the Assembly elections on February 5. According to the itinerary, Naidu will first attend a programme on Saturday in Sambepalli mandal, Ammayya district, where he will distribute social security pensions. Afterward, he will head to Hyderabad. Reliable sources indicate that Naidu will arrive in the national capital on Sunday and join BJP leaders for the election campaign in areas with a significant Telugu community presence. It is worth noting that the TDP is a key partner in the NDA (National Democratic Alliance) government at the Centre, led by the BJP . In the 2024 general elections, TDP secured 21 Lok Sabha seats, second only to the BJP’s 246.