tuesdAY 24 march, 2026 epaper.morningstandard.in facebook.com/TheMorningStandard X.com/TheMornStandard P r aya g r a j A damaged Air Canada jet seen on the runway at New York’s LaGuardia Airport after it collided with a firefighting vehicle | AP | P9 5 Dead, 20 trapped in colD storage A portion of a cold storage building collapsed on Monday, leaving five dead and many injured. Around 20 workers are believed to be under the debris Page 4 A CAPITAL VIEW OF NEWS l New Delhi l J8.00 Situation worrisome, says PM W Asia crisis to have long-term impact on global economy; India prepared to face challenges US turnaround as Trump says talks on with Iran to end war J AYA N T H J A C O B @ New Delhi Prime Minister Narendra Modi on Monday described the escalating crisis in West Asia as “worrisome”, warning of long-term global repercussions while assuring Parliament that India is prepared to safeguard critical sectors such as energy , fertilizers, and power supply . Addressing the Lok Sabha, Modi said the conflict has already begun to weigh heavily on the global economy and hit people’s livelihoods. “The current situation in West Asia is worrisome. This crisis has been going on for more than three weeks, having a very adverse impact on the global economy and on people’s lives.” The PM highlighted the strategic imday portance of the region for India and said it meets a significant share of the country’s crude oil and gas requirements and is home to one crore Indians. He added that he is in constant touch with regional leaders. “I have spoken with most of the heads of state in West Asia, and they have all assured the safety of Indians.” On the ongoing disruption in key maritime routes, Modi said the “closure of Hormuz is un- 24 A g e n c i e s @ Dubai acceptable”. Despite challenges in cargo movement, he said the government is working to ensure minimal disruption to fuel and gas availability . “In the last decade, India has prioritised storage of crude oil for times of crisis. Today India , has a strategic petroleum reserve of more than 53 lakh metric tonnes, and work is underway to create reserves of 65 lakh metric tonnes,” he said, noting that long-term policy decisions are paying dividends now. “In the last 10-11 years, unprecedented work has been done on ethanol production and blending... Today, we are close to achieving 20% ethanol blending in petrol,” he said, adding this has helped India cut crude imports by 4.5 crore barrels annually P8 . Prime Minister Narendra Modi speaks in the Lok Sabha on Monday | Sansad TV via PTI indian lpg tankers cross Strait Two more Indian-flagged tankers, Jag Vasant and Pine Gas, carrying 92,612.59 MT of LPG transited through the Strait of Hormuz on Monday, said the government. The vessels have 33 and 27 Indian seafarers onboard, respectively US President Donald Trump on Monday said the US was in talks with a “respected” Iranian leader and claimed the Islamic Republic was eager for a deal to end the war, while extending the 48-hour deadline to five days for Iran to reopen the crucial Strait of Hormuz or face attacks on its power plants. To justify his climbdown, Trump said there were “major points of agreement” in the USIran talks which he said must result in Tehran giving up its nuclear ambitions. However, Iran flatly denied holding any such negotiations with the US. Iran’s foreign ministry said Trump had backed down “following Iran’s firm warning”. Trump’s turnaround, which held out the possibility of resolving the war now in its fourth week, served to cool oil prices. The price for a barrel of Brent crude fell 9.7% to $101.26 on Monday down from nearly $120 at one point last , week, following the news of US-Iran talks. Amid the disruptions in the Strait, Saudi Aramco, a major oil exporter, has reportedly cut crude oil supplies to Asian buyers for a second consecutive month in April. Meanwhile, Israel on Monday said it had “begun a wide-scale wave of strikes” on infrastructure targets in Tehran. P9 l PAGES 12 Two pilots dead as plane hits fire truck at US airport An Air Canada jet, carrying more than 70 passengers, collided with a fire truck while landing at New York’s LaGuardia Airport late Sunday, killing the pilot and copilot. An air traffic controller could be heard frantically telling the fire truck to stop Electricity rate set to go up in capital soon A n u p V e r m a @ New Delhi The electricity rates in the city are likely to rise from April as the Delhi government is preparing for disbursal of pending dues of over `38,000 crore to the three power distribution companies. However, the government plans to subsidise the hike in power tariff to cushion the impact on the consumers. “This is a regulatory business. The government is committed to ensuring that no burden falls on the people of Delhi,” Delhi Power Minister Ashish Sood said on Monday . “The previous government has left a debt of more than `38,000 crores of regulatory assets with the discoms through Delhi Electricity Regulatory Commission (DERC). Richer City earns more now in per capita terms To recover this, the companies are authorised to increase the electricity rates,” he said. Sood slammed the former AAP administration for allowing the debt to grow unchecked. He said that the successive failures of various past governments, “combined with the connivance and cor rupt underhand dealings of the AAP government and DISCOMs”, have resulted in this accumulation of debt. In August, the Supreme Court directed that the regulatory assets, including carrying costs of `27,200 crore, be paid to the three discoms in seven years. The outstanding amount includes `19,174 crore for BRPL, `12,333 crore for BYPL and `7,046 crore for Tata Power. Economic Survey 2025–26, tabled in Assembly on Monday, estimates that an average person in Delhi earns `5,31,610 a year, which is about 8% jump from the last year | P3 Salary cut for not taking care of parents in T’gana Ma n d a Rav i n d e r R e d d y @ Hyderabad The Telangana Cabinet on Monday cleared a Bill that proposes to deduct up to 15 per cent of an employee’s salary of both public and private sector employees who fail to take care of their elderly parents. Under the clauses of the proposed Parents Support Bill, if any public representative, government or private employee is found not taking care of their elderly parents, 15% of their salary or `10,000 (whichever is lower) will be deducted and given to their parents as financial support. Telangana Chief Minister A Revanth Reddy had earlier indicated that the government was considering deducting salaries of government employees for parental neglect. But the inclusion of private employees in the Bill comes as a surprise. The Telangana Cabinet also cleared the “Telangana Hate Speech and Hate Crime Prevention Bill, 2026”, on the lines of a law enacted by the Karnataka government. The Bill seeks to curb social media posts, speeches, and actions that disturb communal harmony or incite violence, riots, and conflicts in the state.