HYDERABAD  SATURDAY  FEBRUARY 01, 2025  `9.00  PAGES 16  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 6.8%. 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 citing Periodic Labour Force Survey data. For female workers, the inflation-adjusted monthly pay was 12.5% lower in FY24 compared to FY18 TG No. 1 in own tax revenue: Survey Telangana topped the country in own tax revenue (OTR), according to the Economic Survey 2024-25. The survey also highlighted WE Hub, a state government initiative.“For 15 states, the OTR accounted for more than half of their total tax receipts, the highest being Telangana at 88%, followed by Karnataka and Haryana at 86% each,” it said | P5 D I PA K M O N D A L @ 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 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 says companies need to use AI P10 with sensitivity . 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 commit- EXPRESS READ HC favours Tech Mahindra in Satyam scam tax case Hyderabad: Fourteen years after the case was filed, a bench of the Telangana High Court on Friday directed the I-T department to re-quantify the company’s income based on revised financial statements, which exclude fictitious income reported as part of the infamous Satyam scam | P2 ment from these seemingly hostile countries that they will neither create a new BRICS currency, nor back any other currency to replace the US 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 countries, however, had stressed on the need for trade in local currencies and smooth cross-border payments. First in 10 yrs, no foreign bid to stoke pre-session row: PM R A J E S H K U M A R T H A K U R @ New Delhi KCR resurfaces, CM counters BRS supremo K Chandrasekhar Rao on Friday launched an all-out attack on the ‘failures’ of the Congress govt, prompting a response from Chief Minister A Revanth Reddy Congress has mismanaged finances. Telangana’s revenue has dipped by `13,000 cr this year, according to CAG. I have seen many govts, but never one like this K Chandrasekhar Rao, BRS chief HEALTHY FOUNDATION Chief Minister A Revanth Reddy performs puja before laying the foundation stone for the new Osmania General Hospital complex, at Goshamahal in Hyderabad on Friday 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 RAJESH KUMAR THAKUR AND PREETHA NAIR 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 third term, we are moving ahead towards all78-year-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. ,” Don’t narrate stories while resting at your farmhouse. We have implemented our assurances, if you come to Assembly, I will explain how A Revanth Reddy, chief minister BC population in Telangana around 55%, reveals survey B K A R T H E E K @ Hyderabad TELANGANA accounts for just a little over 55% of BCs — including religious and other minorities — out of which, around 42% are Hindus. This was revealed in the Socio-Economic, Education, Employment, Political and Caste Survey (comprehensive doorto-door household survey), sources close to Chief Minister A Revanth Reddy told TNIE. With the Supreme Court’s cap of 50% reservations, the state government is planning to follow the “Three-Test” formula to increase the quota wherever feasible, within the legal ambit, the sources said. The Dedicated Commission is learnt to have prepared its report — running into 1,300 to 1,500 pages — and is likely to submit it to the state government anytime soon. The Dedicated Commission was constituted to conduct a rigorous empirical inquiry into the nature and implications of the quota in local bodies with respect to BC citizens of the State. The panel is also likely to make recommendations adhering to the Three-Test formula, without specifically mentioning the quantum of reservations, sources told TNIE. In layman’s terms, the state government would increase the reservations for BCs where the population of SCs or STs is less. For instance, if the population of SCs and STs in a district is around 10%, the government would be able to reassign the remaining 40% of the reservations to BCs while not crossing the SC’s 50% threshold. Sources said that religious minorities and those who opted for BC “E” instead of the SC/ ST category account for around 13% of the 55% of the BC popuCONTINUED ON P4 lation. DOUBLE TRAGEDY No money to bear funeral expenses, girls stay with mom’s body for 7 days C H I T H A L U R I R E V A N T H @ Hyderabad IN a heart-wrenching incident, two young women lived with their deceased mother’s body for at least seven days as they lacked the money to perform her last rites. Police found the deceased, identified as 45-year-old Cheemala Lalitha, in a decomposed state inside her house in Warasiguda. Warasiguda SHO R Saidulu told TNIE that Lalitha’s daughters—C Ashwini (25) and C Ravali (22)—stated that their mother had passed away in her sleep on the night of January 23. The daughters had tried to wake her up but realised she had died. Seeking help, the sisters initially approached a local MLA. They were then advised to go to the police and approached the Chilakalaguda police station. Upon receiving the information, Chilakalaguda police alerted Warasiguda police, under whose jurisdiction the area falls. Lalitha’s husband abandoned her in 2020, leaving her to care for their daughters alone, police said. Following the incident, the police visited the house, conducted an inquiry and shifted the body for a postmortem examination. Officials said the daughters, overwhelmed by their mother’s death and the financial constraints, slipped into depression and were unable to proceed with the last rites. Lalitha’s brother, who resides in Amberpet, has been informed.