SATURDAY 09 DECEMBER 2023 www.thestatesman.com Pages 12 |` 5.00|LC Twitter.com/thestatesman Facebook.com/thestatesman INDIA’S NATIONAL NEWSPAPER SINCE 1818 KOLKATA | NEW DELHI | SILIGURI | BHUBANESWAR OIL DYNAMICS ‘STRONG TMC VITAL FOR ALLIANCE’ P7 SENSEX 69,825.60303.91 WEATHER Generally cloudy sky. Maximum and minimum temperatures likely to be around 23 °C and 19 °C respectively. RAINFALL: 14.9 RELATIVE HUMIDITY ` vs $ 83.382 PAISE Min. 89 % Max: 21.1°C (-7) SUN RISES 06:4 hrs MOON RISES 01:32 hrs Min: 19.4°C (+3) SUN SETS 16:53 hrs MOON SETS 13:31 hrs New Moon on 13 December THUMBNAILS President Droupadi Murmu meets Asian Para Games Gold Medallist and World’s First Armless Woman Archer Sheetal Devi at Rashtrapati Bhavan on Friday. ANI Six killed in fire at candle-making factory in m Maharashtra's Pimpri Chinchwad: As many as six people died after a fire broke out in a candle-making factory in the Talawade area of Pimpri Chinchwad city, officials said on Friday. “Six people have died in a fire incident that occurred in a candle-making factory in the Talawade area of Pimpri Chinchwad city,” Pimpri Chinchwad Municipal Corporation Commissioner said. GOLD 62,950170 CM lambasts BJP over Mahua’s LS expulsion STATESMAN NEWS SERVICE KOLKATA, 8 DECEMBER aunching a blistering attack on BJP over the expulsion of Trinamul Congress MP Mahua Moitra from the Lok Sabha, West Bengal Chief Minister Mamata Banerjee on Friday said that the development once again proves the “political bankruptcy” of BJP. “I am shocked hearing what happened at the Lok Sabha today. Mahua was not even given a chance to place her point of argument.” “The Lok Sabha members from the I.N.D.I.A. bloc sought some time to go through the 495-page report of the Ethics Committee of the Parliament. The discussion was completed within just half an hour,” the chief minister said while speaking to the media persons at Kurseong in north Bengal on Friday afternoon. The chief minister claimed that the development proves the political bankruptcy of the BJP . L Our party will jointly move with the other allies of the I.N.D.I.A. bloc in support of Mahua. Our movement against BJP and the current Union government will go on MAMATA BANERJEE BENGAL CHIEF MINISTER “Unable to counter Trinamul Congress politically, they are now resorting to such vendetta politics, where Mahua became a victim. Our party is beside her on this issue,” the chief minister said. Thanking the I.N.D.I.A. bloc allies for extending support towards Moitra, the chief minister said that their support proves how united the allies are Reserve Bank of India projects GDP growth for current fiscal at 7pc, inflation at 5.4pc STATESMAN NEWS SERVICE NEW DELHI, 8 DECEMBER In a much-anticipated move, the Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) on Friday decided to take another pause on the repo rate and keep it unchanged at 6.5 per cent maintaining the withdrawal of accommodation stance. The RBI has also showcased good numbers for the gross domestic product (GDP) and inflation. Domestic economic activity is exhibiting resilience. Real GDP grew year-on-year (y-o-y) by 7.6 per cent in Q2FY24, underpinned by robust investment and government consumption, which cushioned the drag from net external demand, it said. On the supply side, gross value added (GVA) rose by 7.4 per cent in Q2, driven by buoyant manufacturing and construction activities. Continued strengthening of manufacturing activity, buoyancy in construction, and gradual recovery in the rural sec- tor are expected to brighten the prospects of household consumption, the RBI Governor Shaktikanta Das said. Healthy balance sheets of banks and corporates, supply chain normalisation, improving business optimism, and rise in public and private capex should bolster investment going forward. With improvement in exports, the drag from external demand is expected to moderate. Headwinds from the geopolitical turmoil, volatility in international financial markets and geoeconomic fragmentation pose risks to the outlook. Taking all these factors into consideration, real GDP growth for 2023-24 is projected at 7 per cent with Q3 at 6.5 per cent; and Q4 at 6 per cent. Real GDP growth for Q1:2024-25 is projected at 6.7 per cent; Q2 at 6.5 per cent; and Q3 at 6.4 per cent. Governor highlighted that global growth is slowing at a divergent pace across economies. Inflation continues to ebb though it remains above target with underlying inflationary pressures staying relatively stubborn. Market sentiments have improved since the last MPC meeting – sovereign bond yields have declined, the US dollar has depreciated, and global equity markets have strengthened. Emerging market economies (EMEs) continue to face volatile capital flows. RBI highlighted that the CPI headline inflation fell by about 2per cent points since the last meeting of the MPC to 4.9per cent in October 2023 on sharp correction in prices of certain vegetables, deflation in fuel, and a broadbased moderation in core inflation (CPI inflation excluding food and fuel). It said the uncertainties in food prices along with unfavourable base effects are likely to lead to a pick-up in headline inflation in November-December. Kharif harvest arrivals and progress in rabi sowing together with El Niño weather conditions need to be monitored. Adequate buffer stocks for cereals and a sharp moderation in international food prices, along with pro-active supply-side interventions by the Government may keep these food price pressures under check. Crude oil prices may remain volatile. Early results from the firms polled in the Reserve Bank’s enterprise surveys indicate softer growth in input costs and selling prices for the manufacturing firms in Q4 relative to the previous quarter, while price pressures persist for services and infrastructure firms. I myself am servant of India poised to become law & Constitution: CJI active contributor to evolution of AI: Modi AGENCIES NEW DELHI, 8 DECEMBER As a lawyer on Friday asked the Chief Justice of India DY Chandrachud to think of reforming the Supreme Court's Collegium system and system of designating advocates as seniors, CJI said he is a "servant of the law and the Constitution" and has to follow the position laid down by the law. “As a lawyer, you have the freedom to pursue your heart's desire. But as a judge, I am a servant of the law and the Constitution. I have to follow the position laid down by law," CJI told the counsel. CJI's comment came after advocate Mathews J Nedumpara told the CJI that he must think of reforming the Collegium system and senior designation process and P5 Says Mahua’s expulsion proves BJP’s political bankruptcy Max. 98 % TEMPERATURE P6 NIFTY 20,969.4068.25 STATESMAN NEWS SERVICE NEW DELHI, 8 DECEMBER few people have hijacked the system. He said though CJI has brought many reforms, the reforms relating to Collegium and senior designation were much needed to take the judiciary to new heights. Nedumpara has also filed separate pleas against the existing judges' selection mechanism and the senior designation system of advocates. His plea also sought the abolition of the Collegium system of judicial appointments to the Supreme Court and the High Courts. Prime Minister Narendra Modi on Friday observed that India, as one of the youngest nations with a vibrant start-up ecosystem and a talented workforce, is poised to be an active contributor to the evolution of AI as the world leaps into a not-so-distant future. “India offers solutions that are scalable, secure, affordable, sustainable, and replicable on a global scale. India’s Digital Public Infrastructure (DPI) initiative is a prime example of such pioneering efforts,” he said in his LinkedIn post, on the upcoming Global Partnership on Artificial Intelligence (GPAI) Summit. Highlighting YOU ALWAYS HAVE TO GIVE YOURSELF A CHANCE: NADAL ‘STRICT DECISIONS HAVE TO BE TAKEN TO UPHOLD DIGNITY OF HOUSE’ the transformative impact of AI across various sectors, the PM emphasised its positive influence on technology, innovation, healthcare, and education, agriculture. He noted that in the last 9-10 years, India and its citizens have leap-frogged with the help of technology due to fast-paced penetration of mobiles along with internet connectivity and scalable models for digital inclusion. CMYK against the BJP . “Our party will jointly move with the other allies of the I.N.D.I.A. bloc in support of Mahua. Our movement against BJP and the current Union government will go on,” she added. Miss Banerjee said that the expulsion of Moitra was done hurriedly so that she could not participate in just one session of the Parliament that is pending before the 2024 Lok Sabha polls. “I had a hope that the Prime Minister will consider this matter and allow her to participate in the remaining session,” the chief minister said. Miss Banerjee’s statement today put at rest the apprehension among a section of people that the Trinamul Congress was not supporting her. State minister Chandrima Bhattacharya, Trinamul Mahila Congress president said, “A history was created today in the New Parliament. Today’s decision was pre-planned. The Ethics Committee acted in the most vindictive manner.” P12 SILVER 77,200 BRENT CRUDE (IN $) 75.36 1.31 BJP appoints observers for Raj, MP & Chh’garh NEW DELHI, 8 DECEMBER The BJP on Friday appointed senior leaders, including Union Ministers Rajnath Singh, Arjun Munda and Sarbananda Sonowal and Haryana chief minister Manohar Lal Khattar, as central observers for electing new leaders of the legislative parties in Rajasthan, Madhya Pradesh and Chhattisgarh where BJP recently won the AssemSNS bly polls. Mahua Moitra expelled from LS STATESMAN NEWS SERVICE NEW DELHI, 8 DECEMBER After two adjournments and a walk-out by the Congressled Opposition, the Lok Sabha on Friday expelled Trinamul Congress MP Mahua Moitra from the House, after voting on its Ethics Committee’s recommendation upholding cash-for-query charges against her. Speaker Om Birla put Parliamentary Affairs Minister Pralhad Joshi’s proposal to expel the member before the House after hourlong deliberations, and it was approved by a voice-vote in which the Opposition did not participate because of its walk-out. The Opposition left the House just as Mr Joshi requested for a vote on the proposal. The proposal said the member’s conduct had implications for national security and her continuance in the Lok Sabha was untenable and she should be expelled. Ms Moitra was not given a chance to speak on the Committee’s recommendation as she had “utilised” her opportunity to give her case before the Committee. Agenda before the House on Friday afternoon was just to consider the Committee’s report, and not to go into other issues, the Speaker said. Quoting instances when members proposed to be expelled were not given any chance to speak, Mr Birla said earlier Speaker Somnath Chatterjee had expelled 10 members and did not give them any chance to speak, as he maintained the inquiry committee had given them a hearing. (See Pg5)
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