TUESDAY 08 APRIL 2025 www.thestatesman.com Pages 12 |` 5.00|LC X.com/thestatesmanltd. Fb/thestatesman1875 SINCE 1818 KOLKATA | NEW DELHI | SILIGURI | BHUBANESWAR P6 SENSEX 73,137.90 q2,226.79 WEATHER MAINLY CLEAR SKY. HEAT WAVE CONDITIONS AT MANY PLACES. THE MAXIMUM AND MINIMUM TEMPERATURES WOULD BE AROUND 41 AND 22 DEGREES CELSIUS RESPECTIVELY. RAINFALL: Nil TRUMP STANDS BY TARIFFS, CALLS THEM ‘MEDICINE’ AS MARKETS REEL ‘PEOPLE FROM WEAKER SECTIONS TREATED AS SECOND-CLASS CITIZENS’ ‘BENEFITS GALORE FOR VENDORS IN KARNATAKA’ P5 NIFTY 22,161.60 q742.85 ` vs $ 85.82 P10 GOLD `91,505 Sectors such as Finance, Oil & Gas, & FMCG are likely to offer relative stability for long-term investors Min. 24 % TEMPERATURE Max: 40.2 °C (+5.1) SUN RISES 06:02 hrs MOON RISES 14:45hrs Min: 20.2 °C (+0.2) SUN SETS 18:43 hrs MOON SETS 04:25 hrs THUMBNAILS A teacher who lost her job holds a placard outside Netaji Indoor Stadium, Kolkata before meeting West Bengal CM Mamata Banerjee in the wake of the Supreme Court upholding Calcutta HC order to cancel the appointment of over 25,000 staff in Bengal schools by SSC, on Monday. nSNS LPG price hiked by Rs 50 per cylinder: The price of LPG cylinders has been increased by Rs 50 per 14.2 kg cylinder for both subsidised and non-subsidised consumers with effect from April 8, Petroleum and Natural Gas Minister Hardeep Singh Puri announced on Monday. The price increase applies to both Pradhan Mantri Ujjwala Yojana (PMUY) beneficiaries as well as other consumers. "For PMUY beneficiaries, the price will rise from Rs 500 to Rs 550 per cylinder. For other consumers, it will increase from Rs 803 to Rs 853," the minister said. He added that the revision is subject to the periodic review that takes place every two to three weeks. RITWIK MUKHERJEE NEW DELHI, 7 APRIL T he Nifty 50 and Sensex crashed on Monday to 9month lows, succumbing to global pressure. Little wonder therefore that it has already been described as Black Monday, a day that has shaken Indian markets. Interestingly, Indian benchmark indices had witnessed significant volatility following retaliatory actions by China and other nations in response to the United States imposing reciprocal tariffs on key trading partners, including China and India, on April 2nd. The Nifty50 opened with a sharp gap-down of over 1,100 points, while the BSE Sensex declined more than 5 per cent, opening at 71,449.94. All sectoral indices traded in negative territory, with the metal and IT sectors emerging as the worst performers. Amid escalating trade tariff uncertainties, market volatility is expected to persist in the near term. However, long-term investment opportunities remain viable at current levels. Sectors such as Finance, Oil & Gas, Consumption, and FMCG are likely to offer relative stability for long-term investors. Market analysts are of the view that investors and traders must stay calm. Investors should avoid panic selling, continue SIPs, and consider buying quality stocks at discounted prices. One should review portfolios and maintain diversification. Traders must prioritise capital preservation, stick to their trading plans, and avoid overtrading. Volatility brings opportunity, but only with strong risk management. Use proper stop-losses and position sizing. Monitor global cues like the US markets and crude. This phase too shall pass. And therefore, investors and traders should focus on process over profit, and don’t hesitate to lean on trusted communities or analysts for clarity during uncertain times. Stay disciplined and strategic. Significantly, one has to keep in mind that the US President Donald Trump has announced a 27 per cent reciprocal tariff on Indian imports, which could significantly affect major export sectors. Indian exports like rice, shrimp, and buffalo meat could see their demand slump in the U.S. as they become more expensive, with possible implications for P16 SILVER `94,000 Bloodbath on D-Street RELATIVE HUMIDITY Max. 80 % KKR LOOKING TO SEIZE MOMENTUM AGAINST LSG exporters and connected industries. The announcement has induced volatility in the Indian equity market, with investor sentiment becoming guarded due to fears of trade disruptions. The duty may put pressure on economic relations between the two countries, especially since India has been a significant exporter of farm and processed food items to the US. A higher tariff on Indian products might not only put a dent in export revenues but also affect employment in export-oriented sectors. Furthermore, companies that depend on the U.S. market might have to look for alternative markets or renegotiate new terms of trade. Although India might think of retaliatory measures or diplomatic talks, the immediate impact is added uncertainty in trade relations. The week beginning on Monday is set to be volatile for global and Indian markets, as US President Donald Trump imposed tariffs on markets worldwide, as fears ignited of an all-out trade war and a global economic recession. The US inflation numbers will be released along with the US FOMC minutes. Domestically, the RBI will likely decide on interest rates. India Industrial and Manufacturing production is also set to be released this week. On Friday, April 11, India’s CPI (Mar) data will be released, which is estimated to be at 3.9 per cent (YoY) and 0.2 per cent (MoM). Industrial Production and Manufacturing Production data will also be released, forecasted at 3.1 per cent and 4.6 per cent YoY respectively. For the time being, all eyes are now on the upcoming RBI monetary policy meeting on Wednesday, where a 25 basis point rate cut is anticipated. (See Page 10,11) Our govt will invest in different aspects of people’s well-being, says PM Modi STATESMAN NEWS SERVICE NEW DELHI, 7 APRIL Prime Minister Narendra Modi on Monday reaffirmed commitment to build a healthier world on World Health Day. PM Modi said the government will keep focusing on healthcare and invest in different aspects of people’s well-being. Good health is the foundation of every thriving society. In a post on X, the Prime Minister said, "On World Health Day, let us reaffirm our commitment to building a healthier world. Our Government will keep focusing on healthcare and invest in different aspects of people’s well-being. Good health is the foundation of every thriving society!" Sharing a video along with the post on X, the Prime Minister flagged the issue of obesity and urged people to reduce their consumption of cooking oil by 10 per cent. PM Modi quoted - ‘Aarogyam Paramam Bhagyam’. The Prime Minister Electronic surveillance system being installed along India-Pak border: Shah Govt raises excise duty on petrol, diesel by `2 per litre; Kharge lashes out at hike STATESMAN NEWS SERVICE STATESMAN NEWS SERVICE JAMMU, 7 APRIL Union Home Minister Amit Shah on Monday said that the government is installing an electronic surveillance system to further strengthen border security and the work will be completed on the entire India-Pakistan border within the next three to four years. Shah, who was speaking to BSF troops at the Vinay forward post in Kathua, lauded the BSF for safeguarding the country's borders in challenging circumstances. Before flying to Srinagar in the afternoon, he also met families of 11 martyrs who lost their lives in terrorist attacks. He handed over government job appointment letters to them in the Raj Bhavan. Shah told the BSF troops that technology will be used to detect underground crossborder tunnels and also destroy them. “You serve the nation in adverse weather and challenging conditions. The two models of electronic surveillance system we want to establish will help you receive information about infiltration and cross-border tunneling and assist you in responding in case of any incident. The Beware of fraudulent calls impersonating TRAI: Govt STATESMAN NEWS SERVICE NEW DELHI, 7 APRIL The government on Monday clarified that the Telecom Regulatory Authority of India (TRAI) does not initiate communication with customers regarding mobile number disconnection through messages or otherwise. The clarification came in the wake of media reports in recent times that the consumers are being targeted through telephonic calls or messages by fraudsters posing as TRAI officials threatening disconnection of mobile connection for being involved in illegal activities and for the extraction of money. A government press note said the TRAI has also not authorised any third-party agency to contact customers for such purposes. Therefore, any form of communication (call, message, or notice) claiming to be from the TRAI and threatening Mobile Number disconnection should be considered a potential fraudulent attempt and must not be entertained. The disconnection of any Mobile Number due to Billing, KYC, or misuse,e if any, is done by the respective Telecom Service Provider (TSP). Citizens are advised to be vigilant and not panic. To prevent the misuse of Telecom Resources for Cybercrime and Financial Fraud, citizens were encouraged to report suspected fraudulent communications through the Chakshu facility on the Department of Telecommunications Sanchar Saathi platform. system will detect the crossborder tunnels," he said. The Home Minister said that the electronic surveillance system would be first installed along the India-Pakistan border and then on the IndiaBangladesh border. He said that the BSF was the first line of defence and has played a crucial role in defending the borders like the Army during the wars with Pakistan. Lt Governor Manoj Sinha, Union Minister Dr. Jitendra Singh, Home Secretary Govind Mohan, DG BSF Daljit Singh Chaudhary and other senior officers were present on the occasion. Shah, currently on a threeday tour of Jammu and Kashmir, visited Kathua where a massive operation against Pakistani terrorists is under- way for the past fortnight. He assessed the ground situation at the BSF Outpost ‘Vinay’ to assess the ground situation. Later, he left for Srinagar where he will on Tuesday review the security situation in J&K, particularly in the Jammu-Samba-Kathua areas that have witnessed heightened terror activities in the past few months. Four policemen and two terrorists were killed in a fierce gunfight in the Kathua district on 27 March. Shah reached here on Sunday evening and held a closeddoor meeting with BJP MLAs and office-bearers. This is Shah’s first visit to the Union Territory after the formation of the National Conference government in October last year NEW DELHI, 7 APRIL The Central government has raised the excise duty on petrol and diesel prices by ₹2 per litre. An official notification by the Department of Revenue, Ministry of Finance, said the change would take effect from 8 April. According to the order, the excise duty on petrol was increased to Rs 13 per litre and Rs 10 on diesel. While the excise duty has been increased, the Ministry of Petroleum and Natural Gas confirmed that there would be no burden on the common man as there will be no increase in retail prices of petrol and diesel. The retail selling price of petrol in Delhi is Rs 94.77 per litre, and diesel is being sold for Rs 87.67 per litre. Crude prices have softened over the past from over USD 70 per barrel to USD 63 per barrel on Monday, raising margins for the oil marketing companies (OMCs). "PSU Oil Marketing Companies have informed that there will be no increase in retail prices of petrol and diesel, subsequent to the increase affected in Excise Duty Rates today," the oil ministry said in a post on X. Lashing out at the government over the move, Congress said it should not have been satisfied with the losses due to the stock market slump that it was rubbing salt into the wounds of people. In a post on X in Hindi, Congress President Mallikarjun Kharge said, "Vaah Modi Ji Vaah!! The international crude oil prices have fallen by 41 per cent as compared to May 2014, but your plundering government, instead of reducing the prices of petrol and diesel, has increased the Central Excise Duty by Rs 2 each." "You must not have been satisfied after the small and big investors in the stock market lost Rs 19 lakh crores in one go due to the deep 'Kumbhakaran-like' sleep on the tariff policy, that your government has come to rub salt into the wounds!" he said. Notably, in December 2024, the government scrapped the windfall profit tax on domestic crude and fuel exports, first imposed on 1 July, 2022, amid falling global oil prices. Over 52 crore loans of `32.61 lakh crore sanctioned under PM Mudra Yojana NIKHIL VYAS NEW DELHI, 7 APRIL Over 52 crore loans worth Rs 32.61 lakh crore have been sanctioned under the PM Mudra Yojana since the scheme’s launch in April 2015, fuelling a nationwide entrepreneurial revolution. The scheme that completed 10 years after its launch on April 8, 2015 has reshaped India’s entrepreneurial landscape, drawing global recognition as a model for financial inclusion. "Under the scheme, three categories of interventions have been formulated which include; Shishu (Loan up to Rs 50,000); Kishor (Loan above Rs 50,000 and up to Rs 5 lakh); Tarun (Loan above Rs 5 lakh and up to Rs 10 lakh) and additionally Tarun Plus (Loans above Rs 10 lakh and up to Rs 20 lakh)," official sources said on Monday. According to “Outcomes of ModiNomics 2014-24” report by SKOCH in 2024, at least 5.14 crore person-years of employment on average every year has been generated since 2014 with the (PMMY) itself adding 2.52 crore steady and sustainable employment as an average per year since 2014. One example of this transformation in Jammu & Kashmir is that it has been highly ben- efited under the MUDRA scheme that is evident from the fact that in Jammu and Kashmir 20,72,922 loans have been sanctioned. By formalising informal sector businesses, the PM Mudra Scheme has expanded the nation’s tax base and strengthened the financial ecosystem. The PMMY has encouraged an entrepreneurial mindset among the youth, especially in smaller towns and villages. Loans worth Rs 10 lakh crore helped new entrepreneurs take off. A significant proportion of Mudra loans (nearly 70 per cent) have been availed by women entrepreneurs, enhancing their financial independence and contributing to gender equality. In the last nine years (FY25 over FY16) while per woman PMMY disbursement amount increased by a CAGR of 13 per cent to Rs 62,679, the per woman incremental deposits increased by a CAGR of 14 per cent to Rs 95,269. Many beneficiaries have used Mudra loans not only for business expansion but also for acquiring new skills or upgrading technology, thereby improving productivity. The scheme has fostered a sense of self-reliance among marginalised groups by enabling them to sustain their BRENT CRUDE (IN $) 64.58 livelihoods through entrepreneurship. SC, ST, and OBC entrepreneurs received over 50 per cent of all Mudra loans. In 2023, the IMF said the PM MUDRA scheme, which extends collateral-free loans with a special focus on women’s entrepreneurship, has helped boost the number of womenowned MSMEs, which now stand at more than 2.8 million. In the 2024 release it said that an enabling policy environment for entrepreneurship through various programmes such as the Pradhan Mantri Mudra Yojana is contributing to increased self-employment and formalisation through credit. A recent State Bank of India (SBI) report on Mudra highlights how Mudra has transformed entrepreneurship, especially for marginalised groups, women, and micro-businesses. addressed the rising concern of lifestyle diseases, particularly obesity, which has become a significant health threat and referred to a recent report predicting that by 2050, over 440 million Indians will suffer from obesity. “Aarogyam Paramam Bhagyam, means, Aarogya hi param bhagya, param dhan hai” (Health is the ultimate fortune, the ultimate wealth). Better health is the way to the creation of a better future. Today, our changing lifestyle is challenging for our health. Recently, there was a report on obesity which states that more than 44 crores will suffer from obesity in 2050. These numbers are scary. We have to work on that from now onwards. We have to cut our cooking oil consumption. This would be a huge step in cutting obesity. We have to make exercise a part of our lives. Keeping yourself fit will be a huge contribution to Vikshit Bharat," PM Modi said. Crown Prince of Dubai to be in India on 2-day visit from today STATESMAN NEWS SERVICE NEW DELHI, 7 APRIL Sheikh Hamdan Bin Mohammed Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence, will be on a two-day visit to India from Tuesday at the invitation of Prime Minister Narendra Modi. This would be the first official visit of Sheikh Mohammed to India as the Crown Prince of Dubai. He will be accompanied by several ministers, senior government officials and a high-level business delegation. PM Modi will host a working lunch for the Crown Prince on Tuesday. Sheikh Mohammed will also hold meetings with External Affairs Minister S Jaishankar and Defence Minister Rajnath Singh. The visiting dignitary will also visit Mumbai, where he will participate in a business roundtable with prominent business leaders from both sides. ''The interaction will strengthen India-UAE economic and commercial cooperation across traditional and futuristic areas,'' the Ministry of External Affairs said on Monday. Traditionally, Dubai has played an important role in India’s commercial, cultural and people-to-people exchanges with the UAE. The majority of India’s around 4.3 million diaspora in the UAE reside and work in Dubai. ''The visit of the Crown Prince will further solidify the India-UAE Comprehensive Strategic Partnership and strengthen our multifaceted ties with Dubai,'' the MEA added.