On Tuesday, Andhra Pradesh Chief Minister Y S Jagan Mohan Reddy announced that Visakhapatnam would become the state’s new capital in the coming months. The YSR Congress chief’s remarks came as the Supreme Court was hearing the case of developing Amravati as the state capital of South India.

The decision to choose a new capital for Andhra comes nine years after the state of Telangana was carved off from its territory and given Hyderabad as its capital.

CM Reddy invited investors and industrialists to Vishakhapatnam, where the global investment summit is scheduled for March 3 and 4, this year, during a speech at a global investors conference in Delhi. He also stated that he would be relocating to Visakhapatnam in the coming months.

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The capital of Andhra Pradesh has always been the talk of the town. Earlier in 2015, the then Chief Minister of state Chandrababu Naidu said Amaravati would be the capital but, five years later, a proposal to have three capital cities was floated.

Under that scheme, Visakhapatnam and Kurnool would join Amaravati; the latter would be the legislative centre of power, Kurnool the judicial capital, and Visakhapatnam the executive capital of Andhra Pradesh. However, in March 2022, the court ruled against the plan to have three capitals and told the government to develop Amravati.

CM Reddy had also told the officials to find space for residences and offices for all to start from Vishakhapatnam.

Finance Minister Nirmala Sitharaman tables Economic Survey 2023, check highlights here

Asaram Bapu gets life imprisonment in 2013 rape case

BREAKING: Gandhinagar Sessions Court on Tuesday sentenced life imprisonment to the self-styled godman Asaram Bapu in the 2013 Rape Case.

The Court convicted him on Monday in a rape case filed by a Surat-based disciple in 2013 for repeatedly raping her from 2001 to 2006 while she was staying in his ashram in Ahmedabad.

As per the FIR filed against Asaram Bapu at Chandkheda police station in Ahmedabad, Bapu with six others raped the woman disciple on several occasions before she managed to escape. The chargesheet for the same was filed in July 2014.

The 81-year-old is currently serving a life sentence in the Jodhpur Central Jail for raping a 16-year-old girl in his Jodhpur Ashram in 2013.

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Followed by the maiden address by President Droupadi Murmu, Finance Sitharaman Nirmala Sitharaman tabled the Economic Survey for 2023 on Tuesday ahead of the Union Budget 2023.

The survey said India’s economy is projected to slow to 6.5 per cent in the fiscal year from April, however, it will remain the fastest-growing major economy in the world.

Economic Survey 2023: Highlights

• India will remain the fastest-growing major economy in the world.
• The country’s Gross Domestic Product (GDP) will grow 6.5 per cent in 2023-24 as compared to 7 per cent this fiscal and 8.7 per cent in 2021-22.
• India is the third-largest economy in Purchasing Power Parity (PPP) terms and the fifth-largest in terms of the exchange rate.
• The Economic Survey 2023 also said GDP in nominal terms will be 11 per cent in the next fiscal.
• The optimistic growth will be influenced by the rebound of private consumption that will boost production activity, higher capital expenditure, and near-universal vaccination coverage. This will enable citizens to spend on contact-based services like cinemas, hotels, restaurants, and shopping malls.
• The Survey also highlighted the challenge to rupee with the likelihood of further interest rate hikes by the US Fed and said India’s recovery from the coronavirus pandemic was relatively quick and the growth will be supported by a pick-up in capital investment and solid domestic demand.
• Highlighting the exports, the Survey said the growth moderated in the second half of the current fiscal and further said shrinking global trade and slowing world growth led to the loss of export stimulus in the second half of the current year.
• The Survey also highlighted the return of migrant workers to cities to work on construction sites which led to a significant decline in the housing market inventory which is also a factor for the optimistic growth projection.

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