Business
CPI inflation likely peaked out; expected to moderate in February

India’s consumer price indexed inflation is expected to moderate in February 2022 from the levels in January, said Motilal Oswal Financial Services.
Notably, high commodities cost especially of transport fuel prices triggered a wider inflationary trend in January 2022.
As a result, India’s main inflation gauge — Consumer Price Index (CPI) — which denotes retail inflation surged on a sequential as well as year-on-year basis.
The index rose to 6.01 per cent last month from 5.66 per cent in December 2021 and 4.06 per cent recorded for January 2021.
Accordingly, the retail inflation rate crossed the target range of the Reserve Bank of India.
The central bank has a CPI target range of 2-to-6 per cent.
Besides, the rate of rise in the Consumer Food Price Index, which measures the changes in retail prices of food products, increased to 5.43 per cent last month from 4.05 per cent in December 2021.
“CPI is likely to have peaked out and may moderate to 5.7 per cent YoY in February 2022. Moreover, growth is a bigger concern in India right now rather than inflation,” said Motilal Oswal Financial Services.
“In fact, we expect real GDP to grow 5-5.5 per cent YoY versus the market consensus of 6 per cent. Accordingly, we believe monetary policy normalisation would be gradual in India.”
Furthermore, food inflation came in at a 14-month high of 5.4 per cent YoY in January 2022 versus 4 per cent YoY in December 2021 and 1.9 per cent YoY in January 2021.
“Within food, vegetables were the major cause of upward movement in prices; excluding vegetables, CPI came in at a nine month low of 6.1 per cent YoY in January 2022.”
“Other items such as cereals and products, pulses and products, eggs, meat and fish, milk and milk products, and spices – which constitute 25 per cent weight in the CPI index – also contributed to the higher inflation.”
Crime
NIA nabs 2 human traffickers from Delhi, HP for role in sending over 100 youths to US via ‘donkey route’

New Delhi, July 5: The National Investigation Agency (NIA) on Friday arrested two human traffickers from different locations in Himachal Pradesh and Delhi. The duo, accused of sending more than 100 youths to the United States using the notorious ‘donkey route’ were nabbed after extensive searches.
The accused were identified as Sunny Donker, a resident of Kangra (Himachal Pradesh) and Shubham Sandhal, a resident of Punjab who was currently residing in the national Capital.
Both are said to be associates of Gagandeep Singh alias Goldy, arrested earlier in March.
Gagandeep was arrested over a victim’s complaint who was illegally trafficked to the US using the infamous ‘donkey route’ and was deported back to India in February, this year.
Goldy, a resident of Tilak Nagar in Delhi, was subsequently chargesheeted by the NIA.
As per the findings of the law enforcement agency, Gagandeep Singh used to take around Rs 45 lakh from each victim on the pretext of sending them to US on a valid visa.
He would then illegally send them on an arduous journey via multiple countries, including Spain, El-Salvador, Guatemala and Mexico.
He had sent more than 100 victims illegally to the US, in this manner before being arrested.
Sunny was the main associate of Gagandeep Singh and played a key role in facilitating the journey of the victims on the ‘donkey route’.
Also, the victims were physically and mentally harassed on the way by agents to extract more money.
Shubham Sandhal operated as key hawala conduit, who transferred funds to agents in Latin America. Gagandeep used him to transfer part of the money taken from the victims to the agents based in Latin America.
The NIA, took over the case from Punjab Police in March this year. As the investigation proceeds, it continues to unravel dark secrets of the human trafficking racket.
National
Maha: Oppn slams NCP MLA for political remarks while presiding in Assembly

Mumbai, July 5: The opposition parties in Maharashtra took a serious objection to the political remarks made by the Assembly’s Presiding Officer Chetan Tupe while conducting the business in the House.
They said that it was not acceptable, demanding that the dignity of the chair must be maintained.
The issue was raised by the Congress Legislature Party leader Vijay Wadettiwar and it was supported by Bhaskar Jadhav (Shiv Sena-UBT) and Nana Patole (Congress).
They also asked, “Do those who make political statements have the right to be the presiding officer?”
Assembly Speaker Rahul Narwekar took a serious note and expressed serious displeasure, saying that such incidents should not happen in future.
“Those sitting as presiding officers should maintain letter and spirit of the law. It is necessary for the presiding officers to work within the framework of the rules given by the Constitution.”
The Speaker assured that the chair of the Speaker will not be used for political purposes.
He also told the House that he will take a decision in this regard in his chamber.
Earlier, Wadettiwar criticised the presiding officer for his political remarks during the discussion over a motion on farmer suicides and the current state of agriculture amid the state government’s apathy.
He appealed to the Assembly Speaker to reprimand the presiding officer Chetan Tupe.
“While the discussion was on, the Agriculture Minister and the officials of that department were not present, but the work continued. But since some members were not present, does the presiding officer Chetan Tupe have the right to sit in the chair and present the government’s position? While the chair has a certain dignity, it is not right to make political speeches from there, such a thing has not happened in the past,” Wadettiwar said.
He also said: “The presiding officer in his statements targeted opposition party members for their absence while saying they speak about farmers but skip the proceedings. Tupe said he has been in the House for 13 hours and has not given out.”
He added that even though the presiding officer is conducting the business in the absence of a Speaker, he is treated as the Speaker and it is binding on him not to make any political statements.
“While it is the responsibility of the government to ensure that the House functions properly, it is the responsibility of the Parliamentary Affairs Minister to see whether the Ministers of the department are present in the House. In such a case, the custom and tradition should be followed from the highest position in the House,” Wadettiwar said.
Business
India added one new airport every 40 days in last 10 years: Civil Aviation Minister

New Delhi, July 5: In just 10 years, the country have seen 88 new airports — nearly one new airport every 40 days — and added 60 additional flights every hour, Civil Aviation Minister Ram Mohan Naidu has said.
According to the minister, flying in India today is more accessible, more available and more affordable.
“Under the leadership of Prime Minister Narendra Modi, Indian skies are more connected, competitive and collaborative, said Naidu, reiterating the ministry’s commitment to collaborative, state-specific strategies for achieving inclusive aviation growth.
He was speaking at the ‘Northern Region Ministers’ Conference on Civil Aviation 2025’ in Dehradun, organised by the Ministry of Civil Aviation
“Through this strategic initiative we aim to identify the regional opportunities and unlock the vast potential of Tier 2 and 3 cities. If we look at the sector through numbers, then we can clearly see the scale of the opportunity that exists,” Naidu told the gathering.
At the event, Uttarakhand Chief Minister Pushkar Singh Dhami underlined the pivotal role of aviation in enhancing regional connectivity, enabling tourism, and supporting socio-economic development in the state.
He appreciated the phenomenal growth in the aviation sector and highlighted the prime importance of ensuring safety in the aviation operations, including helicopter operations in the hilly terrain of the state for which “the state government and the Ministry are deeply committed”.
A series of presentations was made by the Ministry on opportunities for the states in the aviation sector.
The plenary session provided an overall outlook emerging from the day-long conference, where Naidu outlined the Ministry’s strategic priorities for the region, including the development of heliport infrastructure, expansion of UDAN routes, strengthening of Flying Training Organizations and MRO hubs, and creating synergies between the Centre, states and industry stakeholders.
The Minister also reflected on key outcomes from the one-on-one meetings held between the Ministry and state delegations, and parallel sessions between state governments and aviation industry leaders, and assured all support from the Central Government in taking the aviation sector forward.
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