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S&P Global ups India’s growth forecast for 2024-25

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Mumbai, March 26 (IANS) S&P Global Ratings on Tuesday raised India’s growth forecast for 2024-25 by 0.4 per cent to 6.8 per cent on the back of strong domestic demand.

“For Asian emerging market (EM) economies, we generally project robust growth, with India, Indonesia, the Philippines, and Vietnam in the lead,” S&P said in its Economic Outlook for the Asia Pacific.

In November, last year, S&P Global had projected India’s growth to be 6.4 per cent in 2024-25 fiscal on robust domestic momentum.

However, despite the hike, the latest projection by the global rating agency is lower than 7 per cent estimates projected by the RBI and the Finance Ministry for the next financial year.

In largely domestic demand-led economies such as India, Japan and Australia, the impact of higher interest rates and inflation on household spending power reduced sequential GDP growth in the second half, S&P said.

S&P said it expects rate cuts of up to 75 basis points in India in the second half of the year in line with the US policy rates.

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“In India, slowing inflation, a smaller fiscal deficit and lower US policy rates will lay the ground for the Reserve Bank of India to start cutting rates. But we believe more clarity on the path of disinflation could push this decision at least to June 2024, if not later,” S&P said.

–IANS

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India well-positioned to be key global space player in coming years: Vice-President Dhankhar

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New Delhi, July 6 (IANS) Vice President Jagdeep Dhankhar on Saturday said India is well-positioned to be a key player in the global space sector in the coming years with its robust space programme and a growing pool of skilled professionals.

He said this while addressing the 12th Convocation of the Indian Institute of Space Science and Technology (IIST) – Thiruvananthapuram, Kerala.

The Vice President said that ambitious missions, groundbreaking discoveries, and steadfast commitment to scientific advancement define India’s journey in space exploration.

“In the field of space, our recent accomplishments have earned global accolades. In the year 2023, all seven launches of ISRO including Chandrayaan-3, and Aditya L-1, were successful,” VP Dhankhar said.

“A total of 5 Indian satellites, 46 foreign satellites, and 8 rocket bodies (including POEM-2) were placed in their intended orbits. All this just in one year,” he added.

He credited the achievements to the efforts of scientists at the Indian Space Research Organisation (ISRO), and said they “underscore India’s technical prowess and determination to explore the uncharted territories of space”.

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“It is because of ISRO only, that Bharat can proudly boast of being the world’s first country to successfully land Chandrayaan 3 on the south pole of Moon,” he said.

“ISRO has etched Shiv Shakti point (the landing site of Chandrayaan-3 on the moon) and Tricolour (the lunar surface where Chandrayaan-2 left its footprints) on the Moon. The moment will ever be etched in history and deeply embedded in our proud pleasant thoughts,” the VP said.

Further, he also mentioned India’s successful launch of the Mars Orbiter Mission (Mangalyaan), with which India became the first Asian country “to reach Martian orbit and the first in the world to do so in its maiden attempt”.

The VP noted that with each space mission — be it India’s first solar mission, Aditya-L1, or upcoming ambitious human spaceflight mission, Gaganyaan — India has been “propelled onto the global stage of space exploration”.

Speaking of the future, VP Dhankhar said that “the coming decades will witness an unprecedented surge in space exploration. India, with its robust space programme and a growing pool of skilled professionals, is well-positioned to be a key player in this exciting journey”.

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–IANS

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NDA constituents scoff at Lalu Yadav's 'weak govt' charge

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New Delhi, July 6 (IANS) National Democratic Alliance (NDA) constituents on Saturday dismissed Rashtriya Janata Dal (RJD) president Lalu Prasad Yadav’s ‘weak’ Central government claims and asserted that the “stable Central government” will remain in power until 2029.

Emphasising that India will make “rapid progress” under the leadership of Prime Minister Narendra Modi, BJP leader Vivek Thakur dismissed Lalu Yadav’s statement and said that there is “no need to take his words seriously.”

“It’s an old habit of his to make such remarks, and there’s no need to take his words seriously. He is a veteran leader. We’ve been seeing for three decades that he keeps saying something or the other,” said the BJP leader, adding that the NDA’s “historic win” has led to forming a “stable” government at the Centre for the next five years.

Responding to RJD leader Tejashwi Yadav’s comments on law and order, Vivek Thakur criticised the Opposition, implying that “those associated with crime should not comment on such issues”.

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“Those who are synonymous with crime and criminalisation should refrain from speaking on these subjects. Generation after generation, people are well aware of who is synonymous with crime,” he added.

JD(U) leader Neeraj Kumar attacked Lalu Yadav, mocking him as a “self-styled fortune-teller” since his sentencing by the judiciary.

The JD(U) leader sarcastically suggested that the people of Bihar should consult Lalu Yadav with their birth charts but warned them to “avoid signing over their land.”

“After being sentenced by the judiciary, Lalu Yadav has found a new job as a fortune-teller. He has become a fortune-teller. We hope that the common people of Bihar should go with their birth charts to his residence, and he will see if they have a favourable position. However, don’t risk signing over your land when you meet him,” Neeraj Kumar said, adding that the RJD leader “doesn’t check his own fate.”

On Friday, Lalu Yadav had said that the ‘weak’ Central government led by PM Modi might collapse in August.

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“The Central government is very weak, and it might collapse in August this year. It will allow the INDIA bloc to form a new government,” Lalu Prasad said while addressing RJD leaders and workers on the 28th Foundation Day of the RJD at the party’s head office in Patna.

–IANS

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It's India's misfortune that Rahul Gandhi is the LoP: Haryana BJP MP

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Rohtak, July 6 (IANS) Haryana BJP Rajya Sabha MP Ram Chander Jangra said on Saturday that Congress leader Rahul Gandhi ‘speaks without thinking’ and it is a misfortune for the country that he is Leader of the Opposition (LoP).

“The whole country is condemning what Rahul Gandhi said in the House. Gandhi speaks without intelligence. The whole country knows this. It is misfortune for our country that Rahul Gandhi is the LoP. Unfortunately, we don’t know for how many days we have to tolerate him,” Jangra told the media in Rohtak.

On Hathras stampede, he said that anyone could become a ‘baba’ (referring to Bhole Baba) by luring women.

“Baba should also be questioned on Hathras incident. He also had a responsibility to regulate the gathering. Not only this, the code of conduct and arrangements should be made for such gatherings.”

Regarding the BJP-JJP alliance in the state, which snapped in March this year, Jangra said the BJP has suffered a lot because of the Jannayak Janta Party (JJP).

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“This was an alliance of their compulsion. The way the current government of the state is working at present, it’s certain that the Bharatiya Janata Party is going to form the government again and the government is engaged in solving whatever problems the people are facing at the moment.”

With the ruling BJP in Haryana in battle mode for the Assembly elections slated for October, Union Home Minister Amit Shah last week chaired a brainstorming session of the party in Panchkula and announced that the BJP will fight the polls under the leadership of Chief Minister Nayab Singh Saini.

BJP leaders said that two sessions were convened in Panchkula to review the party’s preparations for a 100-day roadmap to ensure that it retains power in the state for the third consecutive time.

The new government in Haryana was formed in March this year after the BJP severed its four-and-a-half-year-old ties with the JJP led by Dushyant Chautala, by Nayab Singh Saini succeeding Manohar Lal Khattar as the Chief Minister.

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The Assembly has a total strength of 90 legislators.

However, after the death of Badshahpur legislator Rakesh Daultabad, the resignation of Power Minister Ranjit Singh, and that of Mullana legislator Varun Chaudhary after his election from the Ambala Lok Sabha seat, the House has 87 MLAs now.

The BJP, which has 41 MLAs, enjoys the support of Haryana Lokhit Party’s lone legislator Gopal Kanda, and Nayan Pal Rawat, an Independent legislator.

In Opposition, Congress has 29 legislators, the JJP has 10, and the Indian National Lok Dal (INLD) has one legislator.

Three Independents have extended their support to the Congress, while another Independent MLA, Balraj Kundu, has been voicing his opposition to the BJP.

–IANS

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Manipur tribals’ conditional support to NRC demanded by Meiteis, Nagas

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Imphal, July 6 (IANS) Days, after the leading Meitei and Naga organisations reiterated their demand to implement the National Register of Citizens (NRC) in the state to curb infiltration from across the border, the Kuki Inpi Manipur (KIM) on Saturday said that they would not oppose the execution of NRC in the state, provided it is under supervision of the Supreme Court.

The KIM, one of the leading bodies of Kuki-Zomi tribals in Manipur, said that they would not dispute any such genuine efforts for identification and necessary actions as per constitutional rules and principles, provided that it is carried out under strict supervision of the Supreme Court and in due consultation with tribal organisations.

“Subsequently, any illegal immigrant found, whether a Kuki, Naga or Meitei, may be thoroughly dealt with as per established laws of the country,” said KIM Secretary, Information and Publicity Janghaolun Haokip.

Haokip said that the Manipur state issue in no way concerns the Kuki-Zo people who have been forced out of Manipur and were compelled to petition their grievances to the government of India for constitutional protection in the creation of a Union Territory with Legislature for the tribals belonging to the Kuki-Zo community.

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The KIM said that they would like to stress the immediate need for political settlement above all other matters of importance.

“The unwarranted and brutal hostilities against our people by the Meiteis must end, and only then a procedural conduct of NRC in Kuki-Zo inhabited regions can be justifiable and viable.

“The Meitei state leadership responsible for the oppression and persecution of our people, causing the loss of 186 precious lives, the arson and destruction of more than 7,000 houses, rendering more than 41,000 Kuki-Zo people homeless has no legitimate say and authority over the future of our people,” Haokip said in a statement.

Meanwhile, a joint delegation of leaders of Coordinating Committee for Manipur Integrity (COCOMI) and the United Naga Council (UNC) earlier this week urged Manipur Governor Anusuiya Uikey to implement the NRC in the state with a base year of 1951 to curb infiltration from across the border and protect the indigenous people.

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COCOMI Coordinator Thokchom Somorendro and UNC President NG Lorho led the joint delegation, which also submitted a memorandum to the Governor.

COCOMI is the apex body of the Meitei community in Manipur while the UNC is the leading organisation of Nagas in the state.

Somorendro and Lorho had informed the Governor that NRC implementation in Manipur is extremely vital to curb the influx of illegal immigrants, which they claimed, “shattered the demographic balance” of the northeastern state.

“Illegal migrants have already caused serious uncertainties and political insecurities to the native population of the state,” the memorandum said.

The COCOMI and UNC leaders have urged the Governor that NRC should be implemented at the earliest so that scientific method of identification may be applied to detect illegal immigrants and ensure that no further infiltration occurs in the state henceforth.

In the over year-long ethnic violence between the Meiteis and Kuki-Zomi tribals, over 220 people were killed, 1,500 injured and over 70,000 people displaced after the ethnic hostility broke out on May 3 last year following a ‘Tribal Solidarity March’, organised in the hill districts to protest the Meitei community’s demand for Scheduled Tribe status.

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–IANS

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BJP ran away from debate in MP Assembly, says Jitu Patwari

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Bhopal, July 6 (IANS) Madhya Pradesh Congress Chief Jitu Patwari on Saturday accused Chief Minister Mohan Yadav-led BJP government of running away from the debate in the Assembly.

He claimed that the Assembly was adjourned sine die nine days before its schedule because the Congress legislators raised public issues in the House.

The monsoon session of the Madhya Pradesh Assembly that had begun in July, was adjourned sine die on July 5, while the session was scheduled to run till July 14.

“The BJP adjourned the House hurriedly because the Congress exposed their failure. Even the BJP MLAs were questioned over Nal Jal Yojana, which is why the Assembly was adjourned before its scheduled time,” Patwari said during a press conference.

He also claimed that the BJP government did not reply to 64 per cent of the questions asked during the monsoon session.

“Congress and BJP MLAs have asked a total of 4,270 questions, of which 2,756 went unanswered,” Patwari said.

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Meanwhile, the State Congress Chief targeted Chief Minister Yadav over unemployment and the law and order situation in the state.

–IANS

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