DAILY FROM: AHMEDABAD, CHANDIGARH, DELHI, JAIPUR, KOLKATA, LUCKNOW, MUMBAI, NAGPUR, PUNE, VADODARA JOURNALISM OF COURAGE FRIDAY, MAY 13, 2022, NEW DELHI, LATE CITY, 18 PAGES SINCE 1932 `6.00 (`8 BIHAR & RAIPUR, `12 SRINAGAR) WWW.INDIANEXPRESS.COM MARCH IIP SHOWS 1.9% GROWTH Retail inflation at 8-year high of 7.79% in April Highpricelevelsof fuel,fooditemsand householdservicescontributetosurge NEW DELHI, MAY 12 BUSINESS AS USUAL BY UNNY RETAIL INFLATION surged to a near 8-year high of 7.79 per cent in April, persisting above the ReserveBankof India’s(RBI’s)inflation target for the fourth straight month, data released by the National Statistical Office (NSO) showed Thursday. High price levels of fuel and food items, especially of vegetables, spices and oils/fats, along with household services, contributed to the sharp rise in CONTINUED ON PAGE 2 E E X P L A I NE D AANCHAL MAGAZINE ● Why RBI may act IN ANTICIPATION of the inflation print, the rupee slipped to a record low, while stocks plummeted 2 per cent amid concerns that runaway prices may force RBI to tighten rates more aggressively. There could be back-to-back rate hikes in the next MPC meet in June. EXPLAINED,PAGE13 Grief, anger as Kashmiri Pandit govt staffer is killed by militants in Valley BASHAARAT MASOOD & ARUN SHARMA VARANASI, MAY 12 STATINGTHAT“anatmosphereof fearhasbeencreated”,aVaranasi court on Thursday ordered resumption of the video survey of the Kashi Vishwanath temple- NEW DELHI, PUNE, MAY 12 IS THE worst of food inflation — 8.38 per cent year-on-year in April — over? Some hope is provided by milk, which has the highestweightamongfooditems intheconsumerpriceindexafter cereals. And also pulses, besides the likes of onion and potato. International prices of dairy commoditieshavefallenoff acliff CONTINUED ON PAGE 2 Opp leader told me ‘PM twice, what more’, but I can’t rest: Modi BHARUCH, MAY 12 Rahul Bhat; (above) his grieving relatives. Shuaib Masoodi two militants were involved in theattackandthatBhatwasshot point blank with a pistol. TheattackonBhat,inhis30s, triggered protests from Pandits CONTINUED ON PAGE 2 Gyanvapi survey: Break locks if need be, submit report by May 17, says court ASAD REHMAN HARISH DAMODARAN & PARTHASARATHI BISWAS KAMAAL SAIYED SRINAGAR, JAMMU, MAY 12 MILITANTS THURSDAY barged into a government office in central Kashmir’s Budgam district andfatallyshotaKashmiriPandit employee — the third attack againsttheminoritycommunity in the Valley this year. Police said Rahul Bhat, a revenue department official at the tehsil office in Chadoora, was takentoahospitalwherehesuccumbedtohisinjuries.Theysaid Glimmer of hope: Pulses, milk prices fall Gyanvapi mosque complex, which was halted last week following allegations of bias against the official in charge — even if it meantgetting“locksopened/broken”.Thesurveyreportshouldbe submitted on May 17, it said. While passinganorderonan application filed by the mosque committee, which had accused court-appointed Advocate Commissioner Ajay Kumar CONTINUED ON PAGE 2 HC JUNKS PLEA TO OPEN SEALED DOORS IN TAJ MAHAL PAGE 9 Ride market volatility with Balanced Advantage Funds. Give your portfolio a dynamic mix of equity and debt. Funds in the Balanced Advantage category aim to offer optimum market linked returns while helping you manage market volatility. Diversify your investments with Balanced Advantage Funds HINTING THAT he was ready for another term, Prime Minister Narendra Modi said on Thursday thata“verysenior”Oppositionleader,whomherespects,hadonce asked“whatelse”wasleftforhim toaccomplishafterbecomingPM twice — but he will not rest till “100 per cent” coverage of Government schemes was achieved. Speaking virtually at the Utkarsh Samaroh in Bharuch, where beneficiaries of four Central Government schemes were assembled, Modi said: “Once I met a leader...he is a very senior leader...he has been a political opponent, but I do respect him. One day, he came to meet me, to sort out some issues. He said, ‘Modiji, now what else do youwanttodo?Thecountryhas madeyouprimeministertwice’.” Modi said: “He thought that becoming prime minister twice was a huge achievement. CONTINUED ON PAGE 2 Age ceiling, RS term limit on Congress table, Chintan Shivir starts today MANOJ C G UDAIPUR, MAY 12 THE CONGRESS top brass is actively considering a radical idea to bring new faces into leadership levels. Sources said the party is seriously thinking of imposing an age-ceiling for leaders to hold positions in the organisation at all levels and for contesting elections besides putting in place a term-limit for Rajya Sabha members. The idea is part of the party’s attempt to give it a “young look.” Two senior leaders, who are playingakeyroleindeliberations in the run-up to the Congress ChintanShivirbeginningFridayin Udaipur, told The Indian Express that the party is “seriously thinking” about the two ideas though it is not yet clear “what shape these proposals will take”. “I can tell you there is certainly a thinking in this direction…Weareseriouslythinking, but I cannot say now how it will come up,” one leader said. It remains to be seen whether the ideas will come up for discussion at the Chintan Shivir which is being held to CONTINUED ON PAGE 2 THE WORLD WICKREMESINGHE RETURNS AS LANKA PRIME MINISTER FIRST IMAGE OF MILKY WAY’S HUGE BLACK HOLE PAGE 12 Contact your MFD/RIA. An Investor Education Initiative by HDFC Mutual Fund Visit https://www.hdfcfund.com/information/key-know-how to know more about the process to complete a one-time Know Your Customer (KYC) requirement to invest in Mutual Funds. Investors should only deal with registered Mutual Funds, details of which can be verified on the SEBI website (www.sebi.gov.in/intermediaries.html). For any queries, complaints & grievance redressal, investors may reach out to the AMCs and/or Investor Relations Officers. Additionally, investors may also lodge complaints on https://scores.gov.in if they are unsatisfied with the resolutions given by AMCs. 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Indian Express Limited is an Indian news media publishing company. It publishes several widely circulated dailies, including The Indian Express and The Financial Express in English, the Loksatta in Marathi and the Jansatta in Hindi.