FRIDAY 09 FEBRUARY 2024 www.thestatesman.com Pages 12 |` 5.00|LC INDIA’S NATIONAL NEWSPAPER SINCE 1818 Twitter.com/thestatesman Facebook.com/thestatesman KOLKATA | NEW DELHI | SILIGURI | BHUBANESWAR WEATHER Partly cloudy sky with mist/fog in the morning. Maximum and minimum temperatures likely to be around 25 °C and 16 °C respectively. RAINFALL: NIL RELATIVE HUMIDITY Max. 93 % TEMPERATURE Max: 25.1°C (-3) SUN RISES 06:13 hrs MOON RISES 04:50 hrs UPA govt’s policies led to ‘mountain of bad loans’ says govt’s White Paper Bengal FM presents Rs 3.6 lakh cr Budget CM calls the Budget a ‘good budget despite great financial constraints’ Min. 33 % Min: 16.7°C ( 0) SUN SETS 17:29 hrs MOON SETS 15:42 hrs New Moon on 10 February THUMBNAILS Devotees arrive to take a dip at Sangam on the eve of Mauni Amavasya during the annual religious 'Magh Mela' festival, in Prayagraj on Thursday.  ANI ISRO to launch meteorological satellite: India will put into orbit its new meteorological satellite INSAT-3DS on 17 February at 5.30 p.m. with the Geosynchronous Satellite Launch Vehicle (GSLV) rocket, the Indian space agency said on Thursday. The INSAT3DS is India’s third generation meteorological satellite and is fully funded by the Ministry of Earth Sciences. It is designed for enhanced meteorological observations and monitoring of land and ocean surfaces for weather forecasting and disaster warning. STATESMAN NEWS SERVICE KOLKATA, 8 FEBRUARY rs Chandrima Bhattacharya, state finance minister, tabled a Rs 3,66,116 crore Budget for 2024-25 on the floor of the Assembly this afternoon. The state government proposes to increase the monthly allowance meant for women under the Lakshmir Bhandar scheme to Rs 1200 and Rs 1000 for SC/ST and general category, respectively, in the Budget as a part of its commitment to empower women. The beneficiaries will get the enhanced amount from 1 April. The women belonging to Scheduled Caste and Scheduled Tribe categories will get Rs 1,200 a month from Rs 1,000 per month while those belonging to the general category, minorities and OBC will get Rs 1,000 per month instead of Rs 500 per month. Calling the Budget a “good budget despite great financial constraints” Chief Minister Mamata Banerjee said the state government proposes to clear the pending money for Pradhan Mantri AwasYojana (PMAY) STATE BUDGET: KEY POINTS M  State government to  Under Pathsree 3 scheme, around 12,000 km of rural roads will be either set up or renovated at an estimated cost of Rs 3868 crore. clear pending money for PMAY beneficiaries in Bengal if the Centre fails to clear the dues within a month  Monthly allowance for women under the Lakshmir Bhandar hiked to Rs 1200 and Rs 1000 for SC/ST and general category, respectively. Six Industrial and Economic Corridors are being developed to act as the lifeline for investment and jobs. beneficiaries in Bengal if the Centre fails to clear the dues within a month. Coming down heavily on the state BJP, she said: “They have no constructive role to play. They speak ill about everyone. They use filthy words against me. The way they interrupted the speech of the finance minister who is a woman is shameful. They are against development and have done everything to ensure that the dues of Bengal are not cleared,” she said: adding: “People are watching and will do the needful when it comes to exercising franchise.” Miss Banerjee said the state government has launched Pathsree 3 and under the scheme around 12,000 km of rural roads will be either set up or renovated at an estimated cost of Rs 3,868 crore. She said around 28 lakh migrant workers who have registered themselves with the state government will get the benefits of Swasthya Sathi scheme. Students will get tablets or iphone from class XI instead of class XII to allow them to pursue their studies in a better way. The remuneration of civic volunteers, village police and green police will go up by Rs 1,000 per month. Miss Banerjee said the state government will provide Rs 5,000 for two months in April and May to fishermen in East Midnapore, South and North 24-Parganas who cannot go to sea during these two months. Earlier, in her speech, Ms Bhattacharya said: "The Centre has imposed a financial blockade on Bengal. But we will not cow down." The Indian Chamber of Commerce welcomed the state Budget tabled this afternoon, mentioning in particular the proposal to set up four new super critical thermal power units in Santaldih, Bakreshwar and Durgapur. NEW DELHI, 8 FEBRUARY The six-member Monetary Policy Committee (MPC) of the Reserve Bank of India on Thursday decided by a 5-to-1 majority to keep the policy rate unchanged at 6.5 per cent. The RBI MPC also decided to maintain the monetary policy stance as ‘withdrawal of accommodation’. RBI Governor Shaktikanta Das announced that the Marginal Standing Facility (MSF) and Standing Deposit Facility (SDF) rates remain unchanged at 6.75 per cent and 6.25 per cent . “Growth accelerating and outpacing most analysts' forecasts,” he said. Announcing the MPC decision, the Governor said the real GDP growth was projected at 7 per cent for 2024-25. For next year, real GDP growth for RBI projects real GDP growth for 2024-25 at 7 pc on back of falling inflation STATESMAN NEWS SERVICE The Reserve Bank of India (RBI) at the Monetary Policy Committee (MPC) meeting on Thursday projected the real GDP growth for 2024-25 at 7per cent on the back of falling inflation, sustained profitability in manufacturing and underlying resilience of services. "Looking ahead, recovery in rabi sowing, sustained profitability in manufactur- ing and underlying resilience of services should support economic activity in 2024-25. Among the key drivers on demand side, household consumption is expected to improve, while prospects of fixed investment remain bright owing to upturn in the private capex cycle, improved business sentiments, healthy balance sheets of banks and corporates; and government’s continued thrust on capital expenditure," RBI Governor Shaktikanta Das said. Q1 2024-25 was projected at 7.2 per cent, for Q2 at 6.8 per cent, Q3 at 7 per cent and Q4 at 6.9 per cent; the risks were evenly balanced. “Though global trade momentum remains weak, it is exhibiting signs of recovery and is likely to grow faster in 2024,” the Governor said. He stated the Consumer Price Index (CPI) Inflation for NEW DELHI, 8 FEBRUARY the current year is projected at 5.4 per cent with Q4 at 5 per cent . For next year (2024-25), CPI inflation is projected at 4.5 per cent. CPI Inflation for Q1 2024-25 is projected at 5 per Finance Minister Nirmala Sitharaman on Thursday tabled a 'White Paper' on the Indian economy in the Lok Sabha which blamed the erstwhile UPA government for the ‘mountain of bad loans’ and ‘double-digit inflation’ in the period before the Narendra Modi-led government took charge. "The UPA government failed miserably to facilitate economic activities. Instead, it created hurdles that held back the economy. It basked in the after-glory of the lagged effects of the reforms of the Vajpayee-led NDA government and benign global conditions and proceeded to exploit the resultant fast economic growth for narrow political purposes," the White Paper stated. The result was a "mountain of bad loans", a high fiscal deficit despite "much of it being hidden", a high current account deficit, "double-digit inflation for five years" which hit the pock- ets of many Indians, and “membership of the club of 'Fragile Five' in 2013”, the document stated.The Fragile Five was the term used for India, along with Turkey, Brazil, South Africa, and Indonesia, by investment bank Morgan Stanley for allegedly being too reliant on foreign investment to fuel their growth ambition. Notably, the White Paper is aimed at highlighting the alleged economic mismanagement under the United Progressive Alliance government, which was led by the Congress from 2004 to 2014. The White Paper further claimed that the economic policies of the UPA government drove investors away from the country. The coali- cent, Q2 at 4 per cent and Q3 at 4.6 per cent and Q4 at 4.7 per cent . “In this uncertain global envionment, the Indian economy has performed remarkably well, inflation on a downward trajectory,” the Governor said. Mr Das announced a few additional measures while announcing the MPC decision. Announcing the review of the regulatory framework for electronic trading platforms, he said: “A revised regulatory framework for electronic trading platforms will be issued for stakeholders' feedback.” On hedging of gold price risk in the Over the counter (OTC) in Indian Financial System Code (IFSC), he said: ''It is now decided to also allow resident entities to hedge the price of gold in the OTC segment in the IFSC.” tion government not only failed to impart dynamism into the economy but also robbed the economy of it as a result of which our industrialists went on record stating that they would rather invest abroad than in India, it said. “To drive investors away is easy but to win them back is hard. The UPA government also demonstrated that it is easier to hurt the economy than it is to help it.They inherited a healthy economy and bequeathed an enfeebled one to us. We have restored its vitality," it said. The paper said the government chose not to reveal the shortcomings of the UPA earlier, as it would have further shaken investor confidence. Kharge releases ‘Black Paper’ STATESMAN NEWS SERVICE NEW DELHI, 8 FEBRUARY RBI MPC meet: Policy rate unchanged at 6.5per cent STATESMAN NEWS SERVICE STATESMAN NEWS SERVICE NEW DELHI, 8 FEBRUARY Ahead of the Lok Sabha polls, Congress President Mallikarjun Kharge released a critique on the BJP-led NDA Government at the Centre on Thursday called “Black Paper” accusing it of failure on many fronts, including employment and inflation. Prime Minister Narendra Modi, on his part, said the Opposition party’s ‘Black Paper’ is a 'Kaala Teeka' for him since everything is going so well in the country. While releasing the document titled “10 Saal Anyay Kaal (2014-2024)” (tenyear period of injustice) at a press conference here, Kharge reiterated the Opposition INDIA bloc’s resolve to retrieve the country from the alleged “anyay” (injustice) by the ruling dispensation this year, in an apparent reference to the upcoming general elec- tions. The Congress chief said, “We are releasing a ‘Black Paper’ against the government because whenever Prime Minister (Narendra) Modi presents his views in Parliament, again and again he highlights his achievements and hides his failures. At the same time, when we speak about the failures of the government, it is not given importance. So, we are bringing out a “Black Paper” against the government to apprise the public about its failures.” On unemployment, one of the key issues high- lighted in the “Black Paper”, Kharge said, “Unemployment is a big issue in the country, but the Modi Government never talks about it.” “ They (the government) always compare (their) 10 years (with the tenure of the first prime minister of India), but never tell about the achievements of the (former prime minister) Jawaharlal Nehru.” Reacting to the Congress’s ‘Black Paper’, PM Narendra Modi said: “When a child gets ready for some good occasion by wearing some nice clothes, a family member applies 'Kaala Teeka', to ward off an evil eye.” “Today, as the country is touching new heights of prosperity over the last ten years, an attempt has been made to put a 'Kaala Teeka', so that no one can cast an evil eye on it. I thank Kharge Ji a lot (for bringing out a Black Paper)." Govt decides to scrap FMR between India & Myanmar Maharashtra goon shoots Shiv Sena (UBT) leader on Facebook Live, kills himself India ‘strongly rejects’ charges of interference in Canadian elections STATESMAN NEWS SERVICE AGENCIES NEW DELHI, 8 FEBRUARY NEW DELHI, 8 FEBRUARY The Ministry of Home Affairs on Thursday announced its decision to scrap the Free Movement Regime between India and Myanmar to ensure the internal security of the country and to maintain the demographic structure of India’s north eastern states bordering Myanmar. Union Home Minister Amit Shah, in a social media post, said: “It is Prime Minister Narendra Modi Ji's resolve to secure our borders, the Ministry of Home Affairs (MHA) has decided that the Free Movement Regime (FMR) between India and Myanmar be scrapped to ensure the internal security of the country and to maintain the demographic structure of India’s North Eastern States bordering Myanmar. Since the Along with illegal immigration, these porous borders and the FMR also pose a threat with regard to illegal activities like smuggling of various contraband items from Myanmar to India. Ministry of External Affairs is currently in the process of scrapping it, the MHA has recommended the immediate suspension of the FMR.” Manipur, which has witnessed ethnic clashes since May last year, has been demanding the scrapping of the FMR that allows citizens on both sides of the IndiaMyanmar international border to travel up to 16 km into the other country without any travel document. The FMR has been attributed as a factor facilitating illegal immigration in the state as it enables individuals to cross over from Myanmar and allegedly acquire Indian citizenship through fraudulent means and to avail benefits that are meant for the Scheduled Tribes (ST) of Manipur under the Indian Constitution. India shares a 1,643-km long border with Myanmar. Four north-east states ~Manipur, Mizoram, Nagaland and Arunachal Pradesh ~ share international borders with the neighbouring country. While Manipur shares a 398-km long border with Myanmar, Mizoram shares 510 km, Nagaland 215 km and Arunachal Pradesh 520 km. Along with illegal immigration, these porous borders and the FMR also pose a threat with regard to illegal activities like smuggling of various contraband items from Myanmar to India. MUMBAI, 8 FEBRUARY In a shocking incident, a prominent Shiv Sena (UBT) leader, Abhishek Ghosalkar, was shot repeatedly during a Facebook Live interaction by Morris Noronha, a local goon and gambler, who later committed suicide by shooting himself on Thursday evening. Ghosalkar was rushed to a nearby hospital where he succumbed to his injuries soon afterwards. Noronha had invited Ghosalkar for a local public event and then conducted a Facebook Live interaction at his office in IC Colony in Borivali West. Ghosalkar was sitting on a sofa and talking online with some people on a mobile phone positioned on a tripod about local civic issues. At one point, Noronha came and sat beside Ghosalkar briefly. They warmly interacted before the camera before Morris got up to step outside. Morris suddenly returned, whipped out a revolver and fired at least three rounds at at Ghosalkar. In a video that has gone viral, Ghosalkar can be seen screaming, stumbling forward and falling, with at least one bullet going into his chest and one in the shoulder. Seconds later, Morris shot himself at least four times. The son of senior SS-UBT leader Vinod Ghosalkar, Abhishek was a former BMC corporator, and was considered among the key second-rung youth leaders of the party headed by ex-chief minister Uddhav Thackeray. The motive for Ghosalkar’s killing is reportedly out of personal enmity as he helped in getting Morris jailed last year in a criminal case. CMYK STATESMAN NEWS SERVICE India on Thursday strongly rejected a Canadian foreign intelligence agency's charge that New Delhi interfered in Canada's elections and accused Ottawa of interfering in the internal affairs of this country. "We have seen media reports on the Canadian Commission inquiring into foreign interference. We strongly reject such baseless allegations of Indian interference in Canadian elections. It is not the Government of India's policy to interfere in the democratic process of other countries. In fact, quite in the reverse, it is Canada, which has been interfering in our internal affairs,” Ministry of External Affairs spokesperson Randhir Jaiswal said at a media briefing. He said India has been rais- The Canadian Security Intelligence Service, the country’s highest foreign intelligence agency, recently alleged that India had potentially interfered in the country’s election in a recent intelligence report. ing the issue of the involvement of Canada in the internal affairs of India regularly. ''We continue to call on Canada to take effective measures to address our core concerns," he added. The Canadian Security Intelligence Service, the country’s highest foreign intelligence agency, recently alleged that India had potentially interfered in the country’s election in a recent intelligence report. The report accessed by the media on Thursday named India as a 'foreign interference threat' and stated that the government "must do more to protect Canada’s robust democratic institutions and processes." Relations between India and Canada touched a new low last year after Prime Minister Justin Trudeau alleged, without citing evidence, the involvement of Indian agencies in the killing of 'Khalistan' supporter Hardeep Singh Nijjar in June.