saturdAY vegetable oil prices escalate costs of food 07 The benchmark index for world food commodity prices rose in November to its highest level since April 2023 december, 2024 The price index, compiled by UN 32% Food and Agriculture Organization to Annual jump track most traded food commodities, in veg oil zoomed to 127.5 points in November— price index a 5.7% rise from a year ago The surge is on account of high international vegetable oil prices FAO’s vegetable oil index jumped 7.5% above levels seen a month ago epaper.morningstandard.in facebook.com/TheMorningStandard X.com/TheMornStandard Iran heaviest space payload launched Iran said on Friday it conducted a successful space launch, the latest for its programme the West alleges improves Tehran’s ballistic missile programme. Page 9 Sugar prices sweeten A CAPITAL VIEW OF NEWS l New Delhi l J8.00 l PAGES 12 RBI holds rates Row over `500 notes bundle again to keep on Singhvi seat in Rajya Sabha inflation down R A J E S H K U M A R TH A K UR Detected during anti-sabotage check The Rajya Sabha on Friday witnessed an uproar over a wad of `500 notes from the seat allocated to legal eagle and Congress member Abhishek Manu Singhvi the previous day . Commotion be gan after Chairman Jagdeep Dhankhar informed the House that security personnel found a bundle of currency notes of `500 denomination on seat number 222, allotted to Singhvi. He said they were recovered during a routine anti-sabotage check on Thursday There were . about 100 notes in the bundle, but whether or not they were genuine is yet to be established, he added. A heated exchange of words between the ruling and Opposition benches followed and the House descended into chaos. “I am quite astonished to even hear about it. Yesterday I , reached inside the House at 12.57 in the afternoon. House “I have been careful that antisabotage checks must be very severe because in these highly technological situations where chemicals are used... From that perspective it was done,” said Chairman Jagdeep Dhankhar @ New Delhi In balancing act, cuts cash reserve ratio and frees up `1.16 lakh crore to support growth cheaper funds to the economy to support growth, by slashing THE Reserve Bank of India the cash reserve ratio (CRR) by (RBI) on Friday chose to stay 50 bps to 4%. The move will rethe course on inflation control, lease `1.16 lakh crore of lendarefusing to make any knee-jerk ble money to banks. CRR is the reaction to the growth slump percentage of banks’ deposits reported in the second quarter that must be parked with RBI. with a repo rate cut. Announcing the policy deciRBI’s monetary polision, Das said all data cy committee (MPC) led since October indicate by governor Shaktikanthat the economy has ta Das decided to mainbottomed out and has tain the repo rate at since been resilient. 6.5% for the 11th time “We don’t want to take on the trot. The last any decision which we time it changed the may be forced to retract repo rate—the interest or regret. We need more rate at which RBI lends evidence/data to changmoney to commercial es our course of acbanks—was in Febru- At this juncture tion,” he said at the cusary 2023, when it raised tomary post-policy prudence and it by 25 basis points. press conference, which practicality demands we With Friday’s deciwould be his last presssion to hold rates, the remain careful er if he is not given ancentral bank has sigother extension. His RBI Governor nalled that a growth current term ends on Shaktikanta Das slip in just one quarter December 10. does not warrant a course corMichael Patra, the senior rection from its Parliament- most deputy governor who is mandated inflation control in-charge of the monetary polobjectives. icy department, said: “Just beRBI has, however, cut the cause of one set of data went FY25 GDP projection from 7.2% off the mark, it’s too early to to 6.6% and also raised the full reverse or change the course,” year inflation estimate to 4.8% indicating that the secondfrom 4.5% earlier. quarter GDP numbers are not While it maintained the key the end of the road for econompolicy rate, the MPC offered ic growth.  P10 B ENN K O CHUVEE D A N @ Mumbai Former senator David Perdue to be China envoy President-elect Donald Trump said he has selected David Perdue of Georgia to serve as his ambassador to China, leaning on former business executive-turned politician | P9 Abhishek Manu Singhvi, Congress MP closes at 1 pm. From 1 to 1.30, I sat with Ayodhya Prasad in the canteen and had lunch. At 1.30, I left Parliament. So, my total stay in the House was three minutes and 30 minutes in the canteen yesterday. I find it bizarre that even on such an issue politics is raised,” Singhvi said on X. Leader of Opposition Mallikarjun Kharge criticised the chairman for naming a member before the investigation had concluded. But Leader of the House J P Nadda interjected saying there should be no objection to identifying the seat and member involved. He add- ed, “Carrying bundles of notes in the House is not appropria t e, ” a n d c a l l e d f o r a n investigation. Nadda went on to criticise the selective reaction of Kharge to various issues. But Kharge retorted with “We don’t suppress matters; you do.” When the House resumed in the afternoon to take up private members’ business, BJP MPs raised slogans demanding answers from the Congress over the recovery of currency notes. Failing to pacify them, Deputy Chairman Harivansh, who was in Chair, adjourned the Rajya Sabha for the day  . P7 FAO Sugar Price Index dipped by 2.4% from Oct, impacted by the start of the crushing season in India and Thailand and eased concerns over next year’s sugarcane crop prospects in Brazil, where rains have improved soil moisture The Centre on Friday approved extension of the Red Line of the Delhi Metro up to Nathupur (Kundli) in neighbouring Haryana. The about 26-km-long corridor under phase IV starting from Rithala will further enhance connectivity in northwest Delhi in areas such as Narela, Bawana and Rohini. The approval was accorded in the Cabinet meeting chaired by PM Narendra Modi. The corridor is scheduled to be completed in four years from the date of its sanction. “The completion cost of the project is `6,230 crore and it is to be implemented by Delhi Metro Rail Corporation Limit- ed (DMRC), the existing 50:50 Special Purpose Vehicle (SPV) of the Centre and Government of National Capital Territory of Delhi (GNCTD) in four years,” said officials. The proposed corridor is an extension of the presently operational Shaheed Sthal (New Bus Adda) in Ghaziabad—Rithala corridor. A part of this line — Tis Hazari–Shahdara section — was the first stretch of the Delhi Metro that was constructed and commissioned. This stretch was opened in 2002. The new stretch will comprise 21 stations. “This new corridor of the phase-IV project will expand the reach of Delhi Metro network in NCR thereby further 26-km-long corridor starting from Rithala To boost connectivity in Narela, Bawana and Rohini going places Scheduled to be completed in four years boosting the economy This ex. tension of the Red Line will reduce congestion on the roads, thus, will help in reducing the pollution caused by motor vehicles,” read a statement. This corridor will be Delhi Metro’s fourth extension into Haryana. At present, it oper- An injured farmer being carried after security personnel lobbed teargas to disperse protesters during their march to Delhi, at Shambhu border on Friday | pti Protesting farmers on Friday suspended for the day their foot march to Delhi as some of them suffered injuries after police fired teargas shells and rubber bullets at the PunjabHaryana border. Earlier in the day a ‘jatha’ of , 101 farmers began to march towards Delhi from their protest site at the Shambhu border but was stopped a few metres away by multilayered barricading erected by Haryana cops. As the group reached the barricades, security personnel lobbed teargas shells to force them to retreat to their protest site. Many farmers rushed to cover the teargas shells with wet jute bags to counter the smoke. Some of them were seen uprooting iron nails and barbed wire installed on the road to stop their march. Many of the ‘jatha’ crossed the initial layer of barricades, but could not proceed further. A few of them were seen pushing an iron mesh put up by security personnel down the bridge constructed over the Ghaggar river. One of the protesters climbed the roof of a tin shade where security forces had been stationed. He was forced to climb down. Water cannon vehicles have also been deployed at the Shambhu border point. The Haryana Police asked the farmers not to proceed further, citing a prohibitory order clamped by the Ambala administration under next course of action soon The Samyukta Kisan Morcha (non-political) and the Kisan Mazdoor Morcha would decide the next course of action. The farmers have been demanding that the Centre give them a legal guarantee for MSP. They have been camping at Shambhu and Khanauri borders between Punjab and Haryana since February 13. BNS Section 163, which restricts unlawful assembly of five or more in the district. The Haryana government on Friday suspended mobile internet services in 11 villages in Ambala from December 6-9 as a precautionary measure. Farmer leader Sarwan Singh The benchmark world food price index, compiled by the Food Agriculture Organization of the United Nations (FAO), has peaked to its highest levels since April 2023, data released on Friday showed. The FAO Food Price Index, which tracks the most globally traded food commodities, recorded its biggest gain in 19 months in November. The index rose to 127.5 points last month, showing an increase of 5.7% from the year-ago period. According to the Rome-based organisation, the price surge was mainly driven by vegetable oil prices. The FAO Vegetable Oil Price Index showed an increase of 7.5% in November from a month ago and 32% higher than the level recorded a year ago. The increase is attributed to concerns over lower-than-expected palm oil output in Southeast Asia. The bleak prognosis is in view of the excessive rainfall in the region, the FAO said in a statement on Friday . High import demand pushed up soyoil prices, while rapeseed and sunflower oil quotations increased as tightening global supply prospects affected their respective markets. Global dairy prices swelled in November by 0.6% over October. The FAO Dairy Price Index maintained its upward trajectory in the month, driven by rebounding global import demand for whole milk powder. Meanwhile, indices of a few commodities posted declines in November. Global wheat prices dropped due to weaker international import demand. The FAO All-Rice Price Index also showed a decline of 4% in November, driven by increased market competition, harvest pressures, and currency fluctuations. Project cost `6,230 crore, to be implemented by DMRC, 50:50 SPV of Centre and GNCTD Extension of operational Shaheed Sthal (New Bus Adda) in Ghaziabad— Rithala corridor A part of the line — Tis Hazari–Shahdara section — was the first stretch of DMRC constructed New stretch will comprise 21 stations ates up to Gurugram, Ballabhgarh, and Bahadurgarh in Haryana. “Construction of Phase-IV (three Priority Corridors), consisting of 65.202 km and 45 stations, is underway, and as of today more than 56% , of construction has been completed,” it added. Pandher claimed that five-six protesters were injured. He later announced the suspension of the march for the day and said the injured farmers were taken to a hospital. “We have called back the jatha for today in view of the injuries suffered by a few farmers,” he said, adding that the Samyukta Kisan Morcha (non-political) and the Kisan Mazdoor Morcha would decide the next course of action after a meeting. The farmers have been demanding that the Centre give them a legal guarantee for MSP . They have been camping at the Shambhu and Khanauri border points between Punjab and Haryana since February 13, when their march to Delhi was stopped by security forces. Haryana to follow Saudi model for ‘green’ Aravalli H A R P REET B A J W A @ Chandigarh To enhance environmental sustainability, the Haryana government has adopted the Saudi Arabia model for the Aravalli Green Wall Project, an initiative launched by the Union Environment Ministry . The project aims to establish a 1,400-km-long and 5-km wide buffer zone around the Aravalli hill range, spanning four states, including Haryana. Under the project, Haryana will develop 75 water bodies in the Aravallis of Gurgaon, Faridabad, Nuh, Rewari, Mahendergarh, Charkhi Dadri and Bhiwani districts. The state will revive 35,000 hectares of Aravalli land, including 18,000 hectares in Gurgaon. Recently, at a UN climate event, a part of COP16, India showcased Aravalli Green Wall project to global community, underscoring the need to implement innovative initiatives to restore degraded forest lands. After a five-day visit to Saudi Arabia, Haryana Forest and Environment Minister Rao Narbir Singh announced plans to launch the project. “The Haryana government, in collaboration with the stakeholder states of Rajasthan, Delhi and Gujarat, has plans to bolster environmental sustainability by The Project To establish 1,400-km-long and 5-km wide buffer zone around Aravalli hill range Project to cover over 1.15 million hectares across the states of Haryana, Rajasthan, Gujarat and Delhi by 2027 Haryana to develop 75 water bodies in the Aravallis of Gurgaon, Faridabad, Nuh, Rewari, Mahendergarh, Charkhi Dadri and Bhiwani districts speeding up the execution of the project. It would be modelled after Saudi Arabia’s green initiatives, as the country has achievements in transforming arid landscapes into vibrant green belts,” he said. Rao said this project will create green employment opportunities for local communities in the Aravalli region. “In Haryana, the state has appointed Van Mitras to raise awareness among the younger generation about the importance of protecting nature and fostering sustainable practices. These Van Mitras are also working to strengthen local engagement with forest conservation efforts, enhancing both ecological balance and community resilience,’’ he said. The project will cover over 1.15 million hectares across Haryana, Rajasthan, Gujarat, and Delhi by 2027. FAO expects global wheat output in 2024 to be 789 million tonnes — the same level as in 2023 — while maize output is forecast to decline by 1.9% from the previous year to 1,271 million tonnes, due to low yields in the EU and the US Agencies 6 farmers injured in teargas shelling, march to Delhi over MSP halted Ha r p r e e t B ajwa @ Chandigarh Wheat output flat WORLD FOOD PRICES AT 19-MONTH HIGH Cabinet nod to `6.2K cr Metro Phase-IV expansion Pa r v e z S u lta n @ New Delhi Sunflower, soyoil prices rose on strong global import demand ‘star’ry show Australia’s Mitchell Starc (2nd right) celebrates with teammates after the dismissal of Yashasvi Jaiswal during the India-Australia test match in Adelaide | pti | p11 seoul ruling party backs stripping Yoon’s powers The governing party chief expressed support on Friday for suspending constitutional powers of Prez Yoon Suk Yeol for imposing martial law | P9 Class XII boy shoots school principal dead in Chhatarpur A n u r aa g S i n g h @ Bhopal In a horrific incident, the principal of a government school was allegedly shot dead by a Class XII student on the school p re m i s e s i n C h h at a r p u r district of Madhya Pradesh on Friday . The murder happened at around 1 pm when Surendra Saxena, principal of Dhamaura Higher Secondary School, was entering the toilet, located between the school’s boundary wall and the main road outside. The accused, after a heated exchange of words with the principal, whipped out a pistol and shot him twice in the head from point blank range. Saxena died on the spot. The boy then went to principal’s office, took the keys of the latter’s scooter and fled on the two-wheeler. “ few hours later, the 17-yearA old accused was arrested by the Chhatarpur police while trying to flee to adjoining Mahoba district of UP,” Chhatarpur district police superintendent Agam Jain told this newspaper. The student, whose father runs a thriving dairy business in Chhatarpur district, told the police during interrogation that he was upset as the principal scolded him and warned that he would take action against him for indiscipline. Sources said the principal had cautioned by the boy in the past as well for being absent from class and misbehaviour on the school premises, particularly with girl students. He had come to the school with the illegal firearm earlier too. However, Saxena’s brother Rajendra Saxena alleged that the murder was due to a plot by some school insiders. Agam Jain said, “All possible angles, including that of conspiracy, will be probed in detail.”