The Hindu’s Top News of the Day – January 31, 2025
India’s news landscape was dominated by significant economic updates and political developments on January 31, 2025. Key highlights from the day include projections for economic growth, plans for an early visit by Prime Minister Narendra Modi to the United States, and updates related to governance in India.
Economic Survey Forecasts Growth Between 6.3% and 6.8%
India’s economy is set to grow between 6.3% and 6.8% for the fiscal year 2025-26, according to the Economic Survey for 2024-25 presented in Parliament. Chief Economic Advisor (CEA) V. Anantha Nageswaran emphasized that while the fundamentals of the domestic economy are strong—supported by a robust external account, disciplined fiscal consolidation, and stable private consumption—risks remain from global economic and political uncertainties. The survey indicated potential upsides linked to domestic investment and output growth, countered by external challenges.
Progress on India-U.S. Relations
The Ministry of External Affairs (MEA) announced that efforts are underway to facilitate an early visit from Prime Minister Narendra Modi to the United States. The meeting aims to deepen the Comprehensive Global Strategic Partnership between the two nations. MEA spokesperson Randhir Jaiswal highlighted the importance of this diplomatic engagement in enhancing bilateral relations.
Fiscal Discipline and State Tax Revenue Improvements
During the briefing on the Economic Survey, CEA Nageswaran revealed improvements in fiscal discipline indicators at the Union level. The performance of state governments regarding tax revenues has also improved, attributed to increased tax devolution from the central government. Nageswaran noted the continuous enhancement in the quality of expenditure since the financial year 2021, signaling a overall positive trend in fiscal management.
Reduction in Out-of-Pocket Healthcare Expenditures
The Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (PM-JAY), which aims to provide financial protection for secondary and tertiary healthcare, has achieved a significant reduction in out-of-pocket expenses for families. According to the Economic Survey, expenditure dropped from 62.6% to 39.4%, reflecting increased social security measures, with reports of over ₹1.25 lakh crore in savings. As of January 1, 2025, over 36.36 crore Ayushman cards have been issued, illustrating the scheme’s expansive reach.
Political Reactions and Debates
The Congress party expressed criticism towards the BJP-led government following the release of the Economic Survey, pointing out its call for an "Ease of Doing Business 2.0" without addressing a potential overhaul of the Goods and Services Tax (GST) system. Congress general secretary Jairam Ramesh questioned the lack of measures addressing public health issues resulting from pollution and chemical contamination.
President Murmu’s Address and Political Controversies
President Droupadi Murmu addressed a joint session of Parliament, stating that the current government is operating at a pace three times faster than previous administrations. She mentioned significant policies aimed at ending “policy paralysis” and emphasized education and employment initiatives for the youth. This statement, however, led to a political row after Sonia Gandhi’s comments suggesting that President Murmu appeared tired during her speech were deemed “in poor taste” by a spokesperson from the Rashtrapati Bhavan.
Looking Ahead: Union Budget Expectations
Prime Minister Modi expressed optimism regarding the upcoming Union Budget, stating it would inspire confidence in achieving “Viksit Bharat” by 2047. He remarked on the unique position of the current Parliament session, noting it’s the first since 2014 without foreign interference influencing political discourse.
Election Expenditures Report
In electoral news, the Bharatiya Janata Party (BJP) reported an expenditure of ₹1,737.68 crore for the 2024 Lok Sabha elections, according to a report submitted to the Election Commission of India. A substantial portion of the spending was allocated to campaign advertising and promotions.
Cultural and Social Developments
In Varanasi, authorities have halted the Ganga Aarti due to a surge in crowd attendance, which is set to remain in effect until February 5. Police Commissioner Mohit Agarwal urged residents to avoid unnecessary outings during this time.
Infrastructure Sector Growth
In infrastructure news, India’s eight core sectors recorded their highest output in seven months, marking a 4% growth year-on-year. This improvement includes all sectors except for natural gas production, which has continued to decline.
International News
Meanwhile, Norwegian police have detained a ship with an all-Russian crew on suspicion of involvement in damage to Baltic Sea cables, illustrating the complexities of international maritime security.
The landscape of news on January 31, 2025, reflects a blend of optimism regarding economic growth, ongoing political discourse, and significant developments in governance and public policy in India.