West Bengal Chief Minister Mamata Banerjee on Friday said around 2.16 lakh people have been evacuated from affected areas to relief camps, adding that one person has died during Cyclone Dana.

Addressing a press conference, Banerjee said some districts were affected badly after Cyclone Dana hit the areas here, especially ‘kaccha’ houses. She said all District Magistrates, police officers and concerned officials have been doing their best and the government coordinating with all of them from time to time.

“2.16 lakh people evacuated from affected areas to relief camps. I talked to an MLA, he informed me that Kapil Muni Mandir has been affected and faced massive waterlogging. I talked to all MLAs of affected districts,” she said.

On Thursday, Banerjee was personally overseeing every move from the State Emergency Operation Centre in Nabanna, ahead of Cyclone Dana.

India Meteorological Department (IMD) has stated that Cyclone Dana crossed the north Odisha coast as a severe cyclonic storm with a wind speed of 100-110 kmph gusting to 120 kmph. Isolated extremely heavy rainfall is highly likely over south Gangetic West Bengal, specifically in east and west Medinipur today.

The severe cyclonic storm Dana made landfall close to Habalikhati Nature Camp (Bhitarkanika) and Dhamara between 0130 hrs IST to 0330 hrs IST on October 25, with wind speeds of 100-110 kmph gusting to 120 kmph, said IMD.

IMD added that isolated extremely heavy rainfall is expected over coastal Odisha and south Gangetic West Bengal (east & west Medinipur) on October 25.

NDRF DIG Mohsen Shahedi said, “Reports are being compiled from the field by the SOC and shortly we will have the details. The normal services have also been restored. The air services have been resumed.”

Flight operations have now resumed at Netaji Subhash Chandra Bose International Airport in Kolkata. These services were previously suspended due to the effects of Cyclone Dana. Rains are being experienced in various parts of West Bengal as a result of the cyclonic activity.

Odisha Chief Minister Mohan Charan Majhi said that Cyclone Dana made landfall at midnight on the 24 and 25 October. During the landfall, the windspeed was 82-100 km/hour, he added.

“There has been no report of any casualty anywhere. We have achieved the target of zero casualty due to proper planning and execution. We have shifted more than 6 lakh people to safer places. Airport services have become normal. The first flight landed in Bhubaneswar at 9 am and all the road blockage will be cleared by 1 pm today,” the Chief Minister said.

Urging the government to address concerns over the growing financialisation of the Indian economy, the Congress asserted on Friday that inequality, wage stagnation and inflation were structurally corrosive to India’s long-term growth prospects.

Highlighting these issues through a social media post on X, Congress communications general secretary Jairam Ramesh emphasised the critical need to boost private investment rates in order to sustain higher economic growth, which has declined from 33.4% (2004-2014) to 28.7% (2014-2023).

“These rates have fallen from 33.4 per cent (2004-2014) to 28.7 per cent (2014-2023),” he said.

Referring to an article by a notable public finance economist, Ramesh expressed additional concerns. He pointed out that the share of passive income in total reported income has increased significantly, from 16% in 2016-17 to 24% in 2023-2024.

Moreover, for the corporate sector, the share of passive income outside of operating profits surged from 16.6% to 30.7% during the same period.

This rise in passive income illustrates a shift in corporate focus towards financial investments over productivity-raising physical investments, propelled by the decline in physical investments due to muted post-Covid demand.

Ramesh emphasised that these structural issues, including inequality, wage stagnation, and inflation, extend beyond politics and can erode India’s long-term growth prospects significantly.

“Inequality, wage stagnation, and inflation are not just political issues — they are structurally corrosive to India’s long-term growth prospects,” he said. 

 He stressed that it is crucial for both the government and its chief economic advisor to acknowledge and address the growing financialisation of the Indian economy.

“If not the opposition, the government must listen to its own chief economic advisor, who has himself raised alarm over the growing financialisation of the Indian economy,” the Congress leader said.

Prime Minister Narendra Modi on Friday urged German businesses to invest in the country and said there is no better place for investment than India and this is the right time to join the country’s growth story.

Addressing the 18th Asia-Pacific Conference of German Business 2024, the Prime Minister emphasised that the time was right for foreign investors to participate in India’s growth story, join Make in India initiative and Make for the World.

He noted that Germany’s confidence in India’s skilled workforce is remarkable. The European nation has decided to increase the number of visas for skilled Indian workers from 20,000 to 90,000.

“Germany has decided to increase the annual visa quota for skilled Indian professionals from 20,000 to 90,000,” he said. Adding that he said this move is expected to give a significant boost to Germany’s growth.

He said the decision aims to fulfill Germany’s demand for skilled workers and strengthen economic cooperation with India. As a result, Modi said, Indian professionals will have increased job opportunities in Germany, strengthening economic ties between the two nations.

“This is the right time to be part of India’s growth story. India is becoming a global trade and manufacturing hub,” Modi said, emphasizing that the country stands on strong pillars of democracy, demography, demand, and data.

PM Modi also mentioned that India is making record investments in infrastructure, such as roads and ports, and highlighted the importance of the Indo-Pacific region for the future of the world.

After a 12-year gap, India is hosting the Asia-Pacific Conference of German Business, the Prime Minister said. “Simultaneously, the CEO Forum is convening, and our navy is conducting joint exercises,” PM Modi said.

“Today, India and Germany are going to organise the 7th Intergovernmental Consultation. India and Germany are seeing the deepening of relations at every step, in every aspect,” PM Modi said.