SATURDAY 08 FEBRUARY 2025 www.thestatesman.com X.com/thestatesmanltd. Fb/thestatesman1875 INDIA’S NATIONAL NEWSPAPER SINCE 1818 Pages 16 |` 5.00|LC KOLKATA | NEW DELHI | SILIGURI | BHUBANESWAR FADNAVIS REFUTES ALLEGATIONS, SAYS RAHUL SENSES DELHI DEBACLE PANAMA DENIES U.S. TOLL EXEMPTION CLAIM P10 SENSEX 77,860.19q197.97 WEATHER Partly cloudy. Hazy in the evening. Maximum and minimum temperatures likely to be around 27°C and 14°C respectively. NIFTY P5 23,559.95q43.40 P9 ` vs $ 87.44 RBI Governor Sanjay Malhotra announces additional measures STATESMAN NEWS SERVICE Max. 61% Min. 42% NEW DELHI, 7 FEBRUARY Min: 14.3˚C SUN SETS 17:29 hrs MOON SETS 02:38 hrs T TEMPERATURE Full Moon on 12 February THUMBNAILS Indian Navy's capstone Theatre Level Operational Exercise (TROPEX) is underway in the Indian Ocean Region, on Friday. n ANI Four dead, one critical in firecracker unit explosion at Kalyani in Nadia: At least four women lost their lives, and another woman sustained critical injuries following a devastating explosion at a firecracker manufacturing unit in Rathtala, under Kalyani police station limits, on Friday afternoon. The blast occurred around 1:30 pm, causing widespread panic in the densely populated area. (Details on Page 4) he Reserve Bank of India (RBI) Monetary Policy Committee (MPC) on Friday ‘unanimously’ decided to reduce the policy rate by 25 bps from 6.50 per cent to 6.25 per cent. Governor Sanjay Malhotra has also pegged the GDP for FY26 at 6.7 per cent. For Q1, the projected GDP growth rate is 6.7 per cent, for Q2 7 per cent; Q3 6.5 per cent and Q4 6.5 per cent. He said that on the supply side, growth is supported by the services sector and a recovery in the agriculture sector, while tepid industrial growth is a drag. Governor Malhotra announced that the standing deposit facility (SDF) rate shall be at 6.0 per cent, and the marginal standing facility (MSF) rate, and the bank rate shall be 6.5 per cent. He said the CPI inflation for 2024-25 is projected at 4.8 per cent with Q4 at 4.4 per cent. Gautam Adani’s son Jeet ties the knot with Divya Shah Assuming a normal monsoon next year, CPI inflation for 2025-26 is projected at 4.2 per cent with Q1 at 4.5 per cent; Q2 at 4 per cent; Q3 at 3.8 per cent; and Q4 at 4.2 per cent . The MPC noted that inflation has declined. Supported by a favourable outlook on food and continuing transmission of past monetary policy actions, it is expected to further moderate in 202526, gradually aligning with the target. The RBI Governor also highlighted the flexible inflation targeting (FIT) framework saying that it was put in 2016, reviewed in 2021, and is a monumental change in the history of the monetary policy of a country. “The average inflation has been lower after this framework barring a few occasions of breaching the upper tolerance band,” he said. On the external sector, the RBI Governor said India’s current account deficit (CAD) moderated from 1.3 per cent of GDP in Q2 of last year to 1.2 per cent in Q2 of this year. The RBI MPC has also set out various developmental and regulatory policy measures relating to Financial Markets, Cybersecurity, and Payment Systems. It announced the introduction of forward contracts in Government securities. The Governor also said that SEBI-registered non-bank brokers will now have access to the Negotiated Dealing System - Order Matching (NDSOM). Also, a comprehensive review of trading and settlement timings across various market segments will also be conducted. In the cybersecurity space, the focus will be on enhancing trust through 'bank.in' and ‘fin.in’ domains. Further, it announced enabling additional authentication factors for international card-notpresent (online) transactions. NEW DELHI, 7 FEBRUARY STATESMAN NEWS SERVICE NEW DELHI, 7 FEBRUARY Indian businessman Gautam Adani's son Jeet Adani on Friday tied the knot with Diva Shah in Ahmedabad, Gujarat with traditional rituals in presence of the loved ones at a low-key, and extremely private function. Adani, taking to social media platform X on Friday evening expressed that, "With the blessings of Almighty God, Jeet and Diva tied the sacred knot of marriage today. The wedding took place today in Ahmedabad with traditional rituals and Shubh Mangal Bhaav among loved ones." The billionaire businessman sought blessings and love from all for the newlyweds, while he also apologized for not being able to invite all the well wishers, despite wanting to, stating that it was a small and extremely private function. He also shared photographs of his son and daugh- ter-in-law wearing Varmala on social media. Meanwhile, it was on 5 February that Adani had expressed joy over his son and daughterin-law, who were starting their married life with a holy resolution, as they pledged to do 'Mangal Seva' by providing financial assistance of Rs 10 lakhs for each girl (sister) in the marriage of 500 handicapped sisters every year. He had also shared that as a father, this ‘Mangal Seva’ is a matter of immense satisfaction and good fortune for him. Counting of votes polled in the Assembly elections in Delhi will be held on Saturday in what is likely to be a close race between the ruling Aam Aadmi Party (AAP) and the Bharatiya Janata Party (BJP). Counting across 19 centres in different parts of the national capital will begin at 8 a.m. amid tight security. Postal ballots will be counted first. At least 10 exit polls have predicted a win for the BJP while two others suggest that the AAP may retain power with its tally of seats going down considerably. The Congress, which failed to open its account in the previous two Assembly elections, may be able to get one or two seats. The AAP and Congress, however, rejected the exit polls prediction of a clean sweep for the saffron party. In the outgoing Assembly, the AAP had 62 seats while the BJP had eight. An estimated 60.54 per cent of over 1.56 crore voters in Delhi exercised their fran- chise in the Assembly elections conducted in a single phase on 5 February, according to the data provided by the Election Commission of India (ECI). “All the arrangements for a smooth and fair counting process have been made. Approximately 5,000 staff members, comprising Counting Supervisors, Counting Assistants, Micro Observers, Statistical Staff, and other supporting personnel, have been deployed and trained for the counting process,” Chief Electoral Officer (CEO) of Delhi, R Alice Vaz, said. She said the counting of voter slips of five VVPATs in each Assembly constituency will be randomly selected. The CEO added that real time results can be accessed from the ECI website. Mentioning security arrangements, Special Commissioner of Police and Nodal Officer Devesh Srivastva told the media that a multi-layered security arrangements have been put in place for the counting day. “A multi-layered security arrangement has been made with the outer layer manned by Delhi police and inner layers by the CAPFs as per directives from the Election Commission of India (ECI). An Additional Deputy Commissioner level officer has been made in charge of Ratan Tata will beneficiary sparks controversy STATESMAN NEWS SERVICE MUMBAI, 7 FEBRUARY The last will of late industrialist Ratan Tata has surprised those who were close to him, after it gave away more than Rs 500 crore to a little known 74-year-old entrepreneur from Jamshedpur called Mohini Mohan Dutta. The controversy began after Mr Dutta positioned himself as the late industrialist's adopted son, though according to the will and its codicil, Ratan Tata never married nor adopted any children. According to what is known about Tata's will, the 74-yearold Mr Dutta will receive onethird of his residual estate, comprising bank deposits exceeding Rs 350 crore and proceeds from auctioning personal belongings such as paintings and watches. Ratan Tata’s half-sisters Shireen Jejeebhoy and Deanna Jejeebhoy are to receive the remaining two- thirds of the residual estate. His half sisters also serve as executors of his will after he passed away in October 2024. Besides his half-sisters, trustees of Tata Trusts, namely Darius Khambata and Mehli Mistry, are also executors of his will. Ratan Tata’s primary assets, including shares in Tata and non-Tata firms, have been bequeathed to his two foundations, namely the Ratan Tata Endowment Foundation and the Ratan Tata Endowment Trust. Significantly, neither family members like Ratan Tata's half brother Noel Tata or his children have been mentioned in the will, and even Ratan Tata's brother Jimmy Tata has received only a share of his property worth Rs 50 crore, while Mr Dutta is expected to be paid a higher amount. The distribution of Ratan Tata's wealth can be done only after the will is submitted for verification and certified by the High Court, which is a process that could take around six months. Mohini Mohan Dutta's initial encounter with Ratan Tata occurred in Jamshedpur 60 years ago and this close association led to Ratan Tata backing his career as well as other business interests. “We first met in Jamshedpur at the Dealers' Hostel when Ratan Tata was 24. He helped me out and really built me up,” Mr Dutta was quoted as telling mediapersons at Ratan Tata's October 2024 funeral, noting their 60-year association. Mr Dutta was also invited for Ratan Tata's birth anniversary celebrations organised at Mumbai's National Centre for Performing Arts (NCPA), in December 2024. Mr Dutta began his career with Taj. Later, Tata Industries invested in Mr Dutta’s entrepreneurial venture called Stallion Travel Agency. This agency was later merged with Taj's travel division. Tata Capital subsequently acquired and sold the business to Thomas Cook (India). The company presently operates as TC Travel Services, and Mr Dutta continues to be its director. Mr Dutta has also received shares of Tata Group companies, including the IPO-bound Tata Capital. Incidentally, one of Mr Dutta's two daughters worked at Tata Trusts for nine years until 2024 and she worked at Taj Hotels before that. As mentioned above, Ratan Tata had also set up two entities, namely Ratan Tata Endowment Foundation and Ratan Tata Endowment Trust, in his last years to park a significant portion of his assets. He owned a direct 0.83 per cent in Tata Sons, which is the holding company of the Tata Group, and had a net worth of about Rs 8,000 crore, according to various estimates. BRENT CRUDE (IN $) 74.73p0.44 PM to visit US, France next week to meet President Trump, attend AI Action Summit STATESMAN NEWS SERVICE NEW DELHI, 7 FEBRUARY Prime Minister Narendra Modi will embark on a crucial fiveday two-nation visit to France and the United States from 10 February to attend the AI Summit in Paris and meet President Donald Trump in Washington. The visit to the USA comes amid a controversy over the alleged ill-treatment of 104 Indian illegal immigrants who were brought to India in shackles in an American military aircraft earlier this week. The Opposition has raised a storm over the issue, demanding that the government lodge a strong protest with the USA. Addressing a media briefing on the visit here on Friday, Foreign Secretary Vikram Misri said that at the invitation of French President Emmanuel Macron, PM Modi will visit France from 10-12 February for the AI Action Summit that France is organising. The PM will co-chair the Summit alongside the French President. The PM will also attend a dinner being hosted by President macron on 10 February evening at the Élysée Palace in honour of visiting heads of government and heads of State. The dinner is also likely to be attended by a large number of CEOs from Crucial Delhi Assembly election results today STATESMAN NEWS SERVICE P16 SILVER 1,07,000 GOLD 87,155.00 RBI cuts repo rate by 25 bps to 6.25 per cent RAINFALL: NIL RELATIVE HUMIDITY Max: 27.2˚C SUN RISES 06:12 hrs MOON RISES 13:21 hrs SHUBMAN GILL BACKS VIRAT KOHLI FOR 2ND ODI VS ENGLAND ‘100 PER CENT CLEAN POWER TARGETED’ each counting centre,” he said. The Nodal Officer also informed that people having authorisation from ECI will be allowed inside the premises of the booths while mobile phones are prohibited inside the booths. Prominent among those from the AAP whose fate will be decided include national convener and former Chief Minister Arvind Kejriwal, Chief Minister Atishi and several Ministers of her Cabinet including Gopal Rai, Saurabh Bharadwaj and Imran Hussain former Deputy Chief Minister Manish Sisodia, Somnath Bharti and Amanatullah Khan. Bigwigs from the BJP in the fray include Parvesh Verma, Ramesh Bidhuri, Leader of Opposition in Delhi Assembly Vijender Gupta, Kapil Mishra, Kailash Gahlot, OP Sharma, Satish Upadhyay, Harish Khurana and Ravinder Negi, while those from the Congress include its Delhi unit chief Devender Yadav, former MP Sandeep Dikshit, former MLAs—Anil Chaudhary, Haroon Yusuf and Alka Lamba. ‘India expressed concern over treatment of illegal immigrants’ STATESMAN NEWS SERVICE NEW DELHI, 7 FEBRUARY the tech domain and a number of other distinguished invitees to the summit. On 11 February, the PM will co-chair the AI Action Summit along with President Macron. This is the third such high-level summit that has been held in the very recent past. The first of these was in the UK in 2023, the second one in South Korea in 2024. The next day, there will be a bilateral meeting between the PM and the French President. The two leaders will also travel to Marseille, the second largest city in France, to inaugurate the Indian consulate. There will also be some other engagements before Mr Modi leaves for the USA on an official working visit on 12-13 February. This will be the Indian leader's first visit to the USA after the inauguration of Mr Donald Trump as the 47th President of the country on 20 January. India has registered its “concern” with the United States over the manner in which 104 illegal Indian immigrants were transported to Amritsar in a military aircraft, Foreign Secretary Vikram Misri said on Friday. Asked at a media briefing if India has registered its protest with Washington, he said: “We have made our concerns known.” On how many more illegal immigrants are expected to come back from the USA, Mr Misri said: “In recent conversations when we sought details about potential returnees from the US, we have been told that there are up to 487 presumed Indian citizens with final removal orders. We have sought details and they have been provided to us with regard to 298 individuals.” Mr Misri said: “I don't think there was any protest. We don't have any record of any protest having been made about it.” ACB serves notice to Kejriwal over ‘offer of bribe’ allegations, seeks details on MLA poaching claims STATESMAN NEWS SERVICE NEW DELHI, 7 FEBRUARY Delhi's Anti-Corruption Branch on Friday (ACB) reached Arvind Kejriwal's residence and served a notice for the AAP chief to join the inquiry into the allegations of an 'offer of bribe' to the MLAs of his party, sources said. The ACB had asked Mr Kejriwal to make himself available on Friday to provide information regarding his tweet on social media platform X in connection with the allegations, asking him whether it was posted by him or otherwise. They had also asked him to inform whether he agrees to the contents of the tweet that 16 MLA candidates of his party have been offered the said bribe, while the AAP chief has also been asked to share details of the 16 candidates. He has also been asked to provide evidence in support of the claims and allegations regarding the offer of bribes. This came after an investigation was initiated by the LG office, following a complaint by a BJP leader against AAP chief and party MP Sanjay Singh over allegations leveled by them on the saffron party regarding poaching of AAP MLAs, offering them Rs 15 crore each to switch sides. BJP General Secretary Vishnu Mittal on Friday wrote to Lieutenant Governor Vinai Kumar Saxena, seeking an FIR and a detailed probe in relation to the bribery allegations. Rahul alleges irregularities in voter lists for Maha polls; EC says will respond STATESMAN NEWS SERVICE NEW DELHI,7 FEBRUARY Leader of the Opposition in the Lok Sabha, Rahul Gandhi, and other top leaders of the Maha Vikas Aghadi (MVA) -- Sanjay Raut and Supriya Sule - on Friday reiterated their allegations of irregularities in the voter lists of the 2024 Assembly elections in Maharashtra, and posed a volley of questions to the Election Commission of India in this regard. Acting promptly, the ECI said it would respond in writing. The MVA alliance in Maharashtra includes the Congress party, Shiv SenaUddhav Balasaheb Thackeray (UBT) and NCP-Sharadchandra Pawar (NCP-SCP). Addressing a press conference at the Constitution Club along with Shiv SenaUBT MP Raut and NCP-SCP MP Sule, the Leader of the Opposition said: “We represent the entire Opposition (MVA) that contested the last election in Maharashtra. We wish to bring to the notice of the people of India some crucial information we have uncovered regarding the Maharashtra elections. “Our team has meticu- lously studied the voters' list and voting patterns, and we have been working on this for some time. Unfortunately, we've found numerous ‘irregularities’. It's essential for the country, particularly young people who champion and believe in democracy, to be aware of and understand these findings,” Mr Gandhi said. Stating that the findings regarding the Maharashtra elections raises several questions for the ECI, he claimed that between the 2019 Assembly elections and the 2024 Lok Sabha elections, 32 lakh voters were added to the state's electoral rolls over five years. However, between the 2024 Lok Sabha elections and the 2024 Assembly elections, 39 lakh new voters were added in just five months, he said.