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Growth forecast for 2017: Between 6.75 per cent and 7.5 per cent

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Arun Jaitley ahead of the annual budget presentation in parliament last year

Demonetisation casts a long shadow

By Parsa Venkateshwar Rao Jr

According to the Economic Survey, the India economy is estimated to grow between 6.75 per cent and 7.5 per cent.

The survey taking the cue from the International Monetary Fund (IMF) forecast for world economic growth from 3.1 per cent in 2016 to 3.1 per cent in 2017, talks of Indian exports growing by 1 per cent, which would push up the GDP.

There is concern over private domestic consumption because global crude oil prices are expected to grow by 10 to 15 per cent in 2017. However, consumption is expected to grow as a result of “catch-up after the demonetisation-induced reduction” and “cheaper borrowing costs”. The spending on “housing and consumer durables and semi-durables could rise smartly”.

But there are concerns and anxieties as well. The survey says that “the extent to which the effects of demonetisation could linger into next year” remains a factor which could impede growth “if uncertainty remains on policy response”. The other factor concern is the effect of currency shortages on supplies of agricultural products like milk, sugar, potatoes and onions. The survey notes ominously, “Vigilance is essential to prevent other agricultural products becoming in 2017-18 what pulses was in 2015-16.”

The other issue is the impact of rising global crude oil prices. The survey says, “…even if the prices rose merely to $60-65/ barrel, the Indian economy would nonetheless be affected by way of reduced consumption; less room for public investment; and lower corporate margins, further denting private investment. The scope for monetary easing might also narrow, if higher oil prices stoked inflationary pressure.”

The interesting and important factor that could affect growth rates would be the rolling out of GST. The survey says, “The transition to the GST is so complicated from an administrative and technological perspective, that revenue collection will take some time to reach full potential.”

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Delhi Palam fire leaves 6 dead, massive rescue operation underway

Six people died after a fire broke out in a residential building in Delhi’s Palam. Firefighters continue rescue efforts with 30 tenders at the spot.

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Delhi's palam

A tragic fire incident in southwest Delhi’s Palam area on Wednesday morning claimed the lives of six people, triggering a large-scale emergency response.

According to officials, the blaze erupted in a residential building, prompting immediate action from fire and police authorities. Around 30 fire tenders were rushed to the spot to control the flames and carry out rescue operations.

Authorities said they received a distress call at approximately 7 am reporting the fire at a house within the building. Firefighters were deployed swiftly amid concerns that several residents could be trapped inside the structure.

A fire services official stated that initial information suggested people might still be inside, leading to an intensive search and rescue effort. Emergency teams, including police personnel, reached the congested locality to assist in evacuation and crowd management.

The firefighting operation was still ongoing at the time of reporting. The exact cause of the fire has not yet been determined, and further details are awaited as authorities continue their investigation.

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Centre mandates 60% free seat allocation on flights, caps selection fees

Airlines must now offer 60% seats without extra charges and ensure better seating arrangements for passengers under new government rules.

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In a significant move aimed at protecting air travellers, the Union Ministry of Civil Aviation has directed airlines to ensure that at least 60 per cent of seats on every flight are offered without any additional selection fee. The decision follows widespread complaints from passengers about hidden charges, particularly for seat selection.

The directive has been issued through the Directorate General of Civil Aviation, which has introduced a series of passenger-friendly norms to enhance transparency and improve the overall flying experience.

Under the new guidelines, airlines have also been instructed to seat passengers travelling on the same PNR together, preferably in adjacent seats. This is expected to address long-standing concerns among families and group travellers, who often face inconvenience due to scattered seating arrangements.

The regulator has further emphasised the need to safeguard passenger rights in situations such as flight delays, cancellations, and denied boarding. Airlines have been asked to prominently display these rights across their websites, mobile applications, booking platforms, and airport counters to ensure better awareness.

In addition, carriers must establish clear and transparent policies regarding the carriage of sports equipment, musical instruments, and pets. The move comes in response to frequent complaints over inconsistent rules and high charges. Airlines have been directed to align such policies with safety and operational standards while ensuring they are communicated in a simple and passenger-friendly manner.

To improve accessibility, the regulator has also asked airlines to share passenger rights information in regional languages.

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Mamata Banerjee warns BJP, EC over Bengal polls, says they will be accountable

Mamata Banerjee holds BJP and Election Commission responsible for any incidents during Bengal polls, raising concerns over officer transfers.

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West Bengal Chief Minister Mamata Banerjee has held the Bharatiya Janata Party (BJP) and the Election Commission of India responsible for any untoward incidents in the state during the upcoming assembly elections, following the transfer of key officials.

Addressing concerns over administrative reshuffles, Banerjee said that changes involving senior bureaucrats, including the chief secretary and home secretary, could affect governance and law and order in the state during a crucial period.

The Trinamool Congress chief also announced candidates for 291 constituencies for the elections scheduled to be held in two phases on April 23 and 29.

Criticising the Election Commission, Banerjee alleged that the transfers were being carried out in a manner that benefits the BJP. She questioned the timing of the decisions and said such actions weaken the state administration at a sensitive time.

She further raised concerns about disaster management and essential services, stating that experienced officials familiar with the state’s situation have been replaced. According to her, this could impact administrative efficiency if any emergency arises before the new government is formed.

Protecting Bengal’s identity

Banerjee emphasised that the election is not merely about forming a government but about safeguarding Bengal’s identity and existence. She accused the BJP of misusing central agencies and attempting to influence the electoral process.

She urged that elections should be conducted peacefully, without external interference, and in line with democratic principles. The chief minister also expressed confidence that her party would return to power with a stronger mandate.

Appealing to voters, she called for support for the Trinamool Congress, asserting that the people of Bengal will ultimately decide the outcome and protect their democratic rights.

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