BRACE FOR AN UNUSUALLY HOT FEBRUARY WITH LITTLE RAIN: IMD SATURDAY 01 Most parts of India are expected to experience above-normal temperatures and below-normal rainfall in February, the IMD said on Friday FEBRUARY, 2025 epaper.morningstandard.in facebook.com/TheMorningStandard X.com/TheMornStandard D I S S A N AYA K E TO RELEASE TAMIL LAND IN JAFFNA 4.5 MM RAIN IN JANUARY CAUSE FOR CONCERN Sri Lankan President on Friday assured the northern Tamils that their lands held by the military would be fully returned back to them soon. ■ ■  NEW DELHI  STATE OF THE INDIAN ECONOMY CHALLENGES Geopolitical, trade uncertainties, and commodity price shocks could upset growth projections GROWTH FY25 Real GDP projected to grow by 6.4% Agriculture and services pushed growth in first half of FY25 2047 GOAL INFLATION FY26 India to grow in the range of 6.3% and 6.8%. If exports pick up, add another 0.5% to 1% growth 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 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 J8.00 FOREX A CAPITAL VIEW OF NEWS PAGE 9  PAGES 12 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 $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 A ‘business as usual’ attitude will end up in growth stagnation, warns annual 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 harm mental health Joining the debate on putting in long work hours, the Survey flags its adverse health effects. It points out that people who spend 12 hours at the desk have struggling levels of mental well-being. The Economic Survey also notes that individuals who rarely consume ultra-processed or packaged junk food have better mental wellbeing than those who regularly do 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 target of becoming a developed nation by 2047. To realise the Viksit Bharat dream, the country needs to grow at a 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 6.3-6.8%, which is in line with the prediction of many national and international agencies. Message to Trump: No de-dollarisation policy J AYA N T H J A C O B @ New Delhi DON’S OPEN THREAT 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 “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 ex- poses 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 again red-flagged excessive financialisation of the Indian economy It says the financial mar. kets must grow in line with the real economy and not faster than the economy’s capital needs and overall economic growth. P7 & 10 First in 10 yrs, no foreign bid Days ahead of polls, to stoke pre-session row: PM 8 AAP MLAs quit, say ‘lost faith in Kejriwal’ Trump has consistently opposed de-dollarisation and any manoeuvres 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. 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 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. EXPRESS READ Van-truck collision kills 11, injures 15 in Punjab At least 11 people were killed and 15 injured in a van-truck collision in Ferozepur district of Punjab on Friday. Sources said the van was carrying 25 people, mainly those working as waiters who were returning from a marriage. The condition of some of the injrued is critical. Deputy Commissioner Deepshikha Sharma said some of the critically-injured people were referred to Guru Gobind Singh Medical College in Faridkot. Sahitya Akademi tweaks award rules The ministry of culture has brought in some changes for books selection for Sahitya Akademi Awards. Nominations are being invited directly from the authors, publishers and their ‘well-wishers’. This new arrangement is being introduced for the selection procedure of the country’s most prestigious literary awards. The last date for submission of books is February 28, said ministry officials. EXPRESS NEWS SERVICE @ New Delhi R A J E S 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 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 sesattack on the grand old party . sion, there has been no foreign attempt FIRST “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 term on February 1, Modi inThe President video on social media. will live up to voked Goddess Lakshmi and While Rashtrapati Bhavan was not tired at the hopes and said he prayed that the goddess said they were in “poor taste, any point. the Indeed, she has unfortunate and unacceptable,” believed that of wealth blesses the people of aspirations of Prime Minister Narendra Modi speaking up for the country with prosperity the country in accused the ‘royal family’ of the the this budget and success. “The people of the Congress of insulting the Presi- marginalised session of country have given me this redent, who hails from a tribal communities ... Parliament sponsibility for the third time, can never be background. and this is the first full budget Narendra Modi, However, the Congress de- tiring of our third term. Many imporPrime Minister fended the remarks saying eve- Rashtrapati Bhavan tant decisions will be taken in ry Indian respects the Presithe current budget session. I dent and accused the BJP of being unable to can confidently say that in 2047 when the counaccept Sonia’s empathy for Murmu’s health. try will celebrate 100 years of Independence, Congress chief Mallikarjun Kharge said that the resolution of a developed India that the BJP and the media were twisting Sonia Gancountry has taken will create a new confidence dhi’s statement. P7 and infuse a new energy .” IN a significant setback for AAP, eight of its MLAs resigned from the party on Friday days before assembly elec, tions, citing corruption. They expressed a loss of faith in party chief Arvind Kejriwal. According to party sources, the MLAs reportedly felt disgruntled after being denied tickets. They held a meeting on Friday and decided to quit. The MLAs who resigned are: Naresh Yadav from Mehrauli, Rohit Kumar from Trilokpuri, Rajesh Rishi from Janakpuri, Madan Lal from Kasturba Nagar, Pawan Shar ma from Adarsh Nagar, BS Joon from Bijwasan, Girish Soni from Madipur and Bhawna Goud from Palam. In December, Naresh Yadav was convicted by a Punjab court in a Quran desecration case and sentenced to a two- ‘POLITICAL ATM’ PM Modi accuses AAP of treating Delhi as its ‘political ATM’ and using the ‘looted’ money for its own publicity Says Delhi does not need a confrontational govt but one that works in coordination with the Centre Arvind Kejriwal claims Haryana finally stopped supplying highammonia water to Delhi after he had raised an alarm year jail. After initially announcing his candidacy from Mehrauli, the party replaced him with Mahender Chaudhary in its fifth candidate list. While submitting his resignation to the AAP national convener, Yadav said that he dedicated his life to politics and worked under Kejriwal’s leadership with honesty How. ever, the party has strayed from its core ideology and is rewarding the corrupt. In response, the AAP said said that it is a widely loved party with able and well-educated candidates aspiring for tickets. This time, some MLAs were denied tickets, leading to dissatisfaction. BJP has been constantly approaching AAP MLAs who were denied tickets, luring them with offers. “Kejriwal’s true soldiers will stand with AAP till their last breath,” a party statement read. MORE REPORTS ON P3 & 4 On Jan 26-27, Haryana sent water with ammonia levels as high as 7PPM, but the level came down to 2.1 PPM on Jan 31, Kejriwal says In 6-page reply to EC, Kejriwal accuses Nayab Singh Saini of hatching a ‘conspiracy’ to ‘influence’ polls by sending highly-polluted waters to Delhi Congress accuses Kejriwal of halting construction of master drains along Yamuna, with former Water Resources Minister Harish Rawat calling out ‘criminal negligence’ by AAP government