WEDNESDAY 01 FEBRUARY 2023 Pages 12 |` 5.00|LC www.thestatesman.com KOLKATA | NEW DELHI | SILIGURI | BHUBANESWAR SC RESERVES ORDER ON AYYUB’S PLEA AGAINST SUMMONS ‘INDIA’S ROBUST DIGITAL INFRASTRUCTURE CAN PUSH GDP’ P8 WEATHER MAINLY CLEAR SKY. STRONG SURFACE WINDS (SPEED 20-30 KMPH) DURING THE DAY. THE MAXIMUM AND MINIMUM TEMPERATURES WOULD BE AROUND 20 AND 10 DEGREES CELSIUS RESPECTIVELY. RAINFALL: Nil RELATIVE HUMIDITY Max: 100% P2 P4 Min: 09.9°C (+1) SUN SETS 18:00 hrs MOON SETS 04:45 hrs THUMBNAILS Members of the President’s Bodyguards at Parliament House on the first day of the Budget Session of Parliament. SUBRATA DUTTA Asaram Bapu gets life term in second sexual assault case: A court in Gujarat's Gandhinagar on Tuesday sentenced self-styled godman Asaram to life imprisonment in connection with a 2013 sexual assault case. The court also ordered Rs 50,000 ex-gratia to the victim. The 81-year-old Bapu is currently serving a life sentence in a Jodhpur case in another case of raping a minor girl at his ashram in (P5) Rajasthan in 2013. Air Marshal A.P. Singh to take over as new IAF vice chief: Air Marshal A.P. Singh will take over as Vice Chief of Air Staff on Wednesday as incumbent Air Marshal Sandeep Singh demitted the office on superannuation on Tuesday, after 39 years of illustrious service. Air Marshal Sandeep Singh was accorded a ceremonial Guard of Honour at Air Headquarters, following which he laid a wreath at the National War Memorial. DEEPAK RAZDAN ECONOMIC SURVEY 2022-23: KEY POINTS  Structural and governance reforms strengthened economic fundamentals of India  Government on track to achieve fiscal deficit target of 6.4 per cent  Proactive measures by govt brought inflation within RBI's tolerance limit  India's Covid vaccination programme has met its goals overcoming challenges NEW DELHI, 31 JANUARY I ndia will witness a “robust” GDP growth of 6.0 per cent to 6.8 per cent in 2023-24, depending on the trajectory of economic and political developments globally, the Economic Survey for 202223 tabled in Parliament by Finance Minister Nirmala Sitharaman said today. In comparison, the economy is expected to close the current financial year 202223 (FY23) with a growth rate of seven per cent in real terms. The growth rate was 8.7 per cent in the previous financial year, 2021-22. The economy's current recovery is mainly attributed to rising domestic demand and a revival in investment. Despite a downward revision, the growth estimate for FY23 is higher than for almost all major economies and even slightly above the average growth of the Indian economy in the decade before the pandemic. Agencies worldwide have recognised India as the fastest-growing major economy at 6.5-7.0 per cent growth rate in the financial year ending 31 March, 2023. The economy was able to withstand the three shocks of Covid-19, Russian-Ukraine conflict and rate hikes by Central Banks across economies, led by (More reports on Page 8) Federal Reserve, to curb inflation, leading to appreciation of US Dollar and widening Current Account Deficits (CAD) in net importing economies. ASHOK TUTEJA NEW DELHI, 31 JANUARY SC Collegium recommends CJs of Allahabad, Guj HCs for elevation According to the Survey, fiscal deficit is expected to be at 6.4 per cent of GDP in FY23. The resilience in the fiscal performance was due to a recovery in economic at others for solutions to most of its problems is today emerging as a provider of solutions for the issues faced by the world,” she said, addressing members of both Houses. In her 19-page address, she dealt with all major issues confronting the nation, including corruption, the economic situation, various development schemes of the government for the poor, and the Ukraine conflict and foreign policy. President Murmu said the debate today was no longer about policy paralysis. Instead, the country was being recognised for its rapid development and the far-sightedness of its decisions, she noted and pointed out that India has now become the fifth largest economy in the world. “Today India has a government which is stable, fearless, decisive and working with lofty ambitions. Today India has a government that respects the honest. Today India has a government working for permanent solutions to the problems of the poor and their lasting empowerment. Today India has a government working at an unprecedented speed and scale. Today India has a government which is moving forward confidently to play its rightful role on the global stage,” the President said. She said it was due to the stability and decisiveness of the government that India was able to deal with Covid-19, the biggest calamity in 100 years and the situation that arose thereafter. The President said the government was of the firm opinion that corruption was the biggest enemy of democracy and social justice. Therefore, there has been a relentless fight against corruption in the last few years. “We have ensured that the honest will be honoured in the system. There is increasing social consciousness in the country that there should be no sympathy for the corrupt in the society,” she added. “Poverty eradication”, she said, was no longer just a slogan. Now the government was working towards empowering TEAM BUDGET activity and buoyancy in revenues. The Wholesale Price Index (WPI) has been sliding from its peak of 16.6 per cent in May 2022 to 10.6 per cent in September 2022 IANS SEE PAGE 05 the poor by providing a permanent redressal to their concerns. “My government has fulfilled the wishes of each such section of society which has been deprived for centuries. We have fulfilled the wishes of the poor, Dalits, backwards and tribal communities and given them the courage to dream. No work, no effort is small, and each has its role in development,” she said. Underlining that the woman of India was neither inferior nor weak compared to anyone else, President Murmu said her immortal glory would never disappear for ages and remain forever in the whole world. “All the welfare schemes launched by my government have at the centre of them a vision to make life easier for women, provide new opportunities for employment and self-employment to women and ensure women empowerment. For the upliftment of women, even when the old beliefs and old traditions had to be broken, the government has not backed down,” she added. and further to 5.0 per cent in December 2022. The Consumer price inflation, affected by shortfalls in crop harvests, went through three phases in 2022. A rising phase up to April 2022 when it crested at 7.8 per cent, then a holding pattern at around 7.0 per cent up to August 2022 and then a decline to around 5.7 per cent by December 2022, the Survey has revealed. Dwelling on the Outlook for 2023-24, the Survey says: “India’s recovery from the pandemic was relatively quick, and growth in the upcoming year will be supported by solid domestic demand and a pickup in capital investment.” The Survey said that “aided by healthy financials, incipient signs of a new private sector capital forma- mistic outlook for growth arises from the limited health and economic fallout for the rest of the world from the current surge in Covid-19 infections in China and, therefore, continued normalisation of supply chains. There were also recessionary tendencies in major Advanced Economies (AEs) triggering a cessation of monetary tightening and a return of capital flows to India amidst a stable domestic inflation rate below six per cent, providing impetus to private sector investment. The Survey says credit growth to the Micro, Small, and Medium Enterprises (MSME) sector has been remarkably high, at over 30.6 per cent, on average during Jan-Nov 2022, supported by the extended (Turn to Page 8) STATESMAN NEWS SERVICE NEW DELHI, 31 JANUARY Prime Minister Narendra Modi today said the General Budget to be presented in Parliament tomorrow would seek to meet the hopes and aspirations of the common citizens amid an unstable global economic situation. “Our Finance Minister (Nirmala Sitharaman) will present one more Budget before the country tomorrow. In today's global circumstances, not only India but the entire world is looking at India's budget,” he said while talking to media persons ahead of the Budget session of Parliament. He exuded confidence that the finance minister would make efforts to meet the aspirations of the people. The PM cited the "credible voices from the world of economy" and said that they have brought a positive mes- sage ahead of the session. "Today, the Budget session is commencing. Credible voices from the world of economy, have brought in a positive message, a ray of hope and a beginning of enthusiasm. It is an important event today," he said. Mr Modi said the maiden inaugural address by President Droupadi Murmu to the joint session of both Houses was a matter of pride. “Our Finance Minister is a woman too. She will present one more bud- get before the country tomorrow. In today's global circumstances, not only India but the entire world is looking at India's budget,” the Prime Minister added. The Budget session will take place in 27 sittings till 6 April with a month-long recess to examine the budget papers. The first part of the session will conclude on 13 February. The two Houses will reconvene on 12 March for the second part of the session and will conclude on 6 April. AP will have Vizag as capital: Jagan Mohan HYDERABAD, 31 JANUARY Union Finance Minister Nirmala Sitharaman, Union Ministers of State for Finance Bhagwat Kishanrao Karad, Pankaj Chaudhary and others pose for a group photo during the Final Touch meeting of the Union Budget 2023, in New Delhi on Tuesday. PIB PHOTO DIVISION tion cycle are visible and more importantly, compensating for the private sector’s caution in capital expenditure, the government raised capital expenditure substantially." Private consumption and capital formation during 2022-23 helped generate employment as seen in the declining urban unemployment rate and in the faster net registration in Employee Provident Fund, the Survey said. Moreover, the world’s second-largest vaccination drive involving more than two billion doses also served to lift consumer sentiments that may prolong the rebound in consumption. Still, private capex soon needs to take up the leadership role to put job creation on a fast track. The Survey said the opti- Budget to meet aspirations of common man: PM Modi STATESMAN NEWS SERVICE NEW DELHI, 31 JANUARY The Supreme Court collegium on Tuesday has recommended the elevation of Allahabad High Court Chief Justice Rajesh Bindal and Gujarat High Court's Chief Justice Aravind Kumar as judges of the apex court. On 13 December 2022, the collegium, headed by Chief Justice of India D Y Chandrachud, recommended five names for appointment as judges of the Supreme Court, namely Justices Pankaj Mithal, Sanjay Karol, P V Sanjay Kumar, Ahsanuddin Amanullah, and Manoj Misra. Their appointment is yet to be notified by the government. P12 Economic Survey 2022-23 predicts robust 6 to 6.8 per cent GDP growth Every Indian citizen’s confidence at its peak: Murmu Thanking the people for electing a stable government for two consecutive terms, President Droupadi Murmu today asserted that the “decisive government” has always kept the country’s interest paramount and shown the will-power to completely transform policies and strategies when required. “From surgical strike to a firm crackdown on terrorism, from a befitting response to every misadventure from LoC to LAC, from abrogation of Article 370 to Triple Talaq, my government has been recognised as a decisive government,” she said, opening the Budget session of Parliament. The biggest change the people have witnessed during the nine years tenure of the Modi government, the President said, was that every Indian's confidence was at its peak and the world's outlook towards the country too has changed. “India which once looked BABITA PHOGAT JOINS WFI OVERSIGHT PANEL India remains fastest growing economy Rise in domestic demand & investment positive factors Private Capex needs to take up leadership role Fiscal deficit expected to be at 6.4 p.c. of GDP in FY23 Challenge of depreciating rupee persists Min: 71% TEMPERATURE Max: 20.2°C (-2) SUN RISES 07:09 hrs MOON RISES 14:06 hrs GOVERNOR SUMMONS T’GANA ASSEMBLY AFTER RAPPROCHEMENT Andhra Pradesh chief minister YS Jagan Mohan Reddy today announced that the state’s capital will be shifted to Visakhapatnam soon, clearly indicating that Amaravati will no longer be developed as the greenfield capital. The chief minister’s statement assumes significance since the matter is currently in the Supreme Court which had given a stay order on the verdict of the High Court that the state government must develop Amaravati as the state capital within six months. Nine years after its bifurcation the state is yet to have a permanent capital. Mr Reddy was addressing the International Diplomats Alliance Meet, a curtain raiser event for the Global Investors Summit, in New Delhi today. The summit will be held at Visakhapatnam on 3-4 March this year aimed at attracting global investment to Andhra Pradesh. Inviting potential investors the chief minister said: “Here I am to invite you to Visakhapatnam which is going to be our capital in the days to come. I myself would also be shifting to Visakhapatnam in the months to come as well.” He made a strong pitch for the state and urged the international dignitaries to “put in a good word” to their colleagues to come and experience first hand how easy it was to conduct business in AP. Today’s meet was attended by diplomats of various countries, company representatives as well as officials of the central and state governments. It may be recalled that instead of the plans to develop Amaravati as a greenfield capital as decided by the TDP regime after the bifurcation of the state the YSRCP government decided to develop three capitals in three different regions of the state. While Visakhapatnam in North Andhra was envisaged as the executive capital, Mangalgiri in Coastal Andhra will be the legislative capital and Kurnool in Rayalaseema region will be the judicial capital. However, the farmers of Amaravati who gave up 33,000 acres during the TDP regime for the capital city are still agitating and even won the case in the High Court which directed the YSRCP government to develop the greenfield capital in six months. However, the AP government approached the Supreme Court which gave a stay on HC’s order. But the involvement of the court has not stopped the YSRCP from taking up political programmes on the issue. It has supported several rallies under apolitical platforms in Vizag and in Rayalaseema in favour of the three capitals plan of the state government.