www.thestatesman.com | FOLLOW US: India’s National Newspaper since 1818 @TheStatesmanLtd | Pages 16 8th Day @thestatesmanltd | ` 5.00 | People’s Parliament, Always in Session thestatesman1875 KOLKATA | NEW DELHI | MUMBAI | Evolve Ramachandra Guha’s new book on Gandhi BHUBANESWAR | LUCKNOW | SILIGURI | 04 October 2026 S P O RT S Moshai Dayal: The non-Bengali Bengali India sign off from Aichi-Nagoya Asian Games with 85 medals, finish fourth Page 16 Five Indian nationals rescued from Strait of Hormuz: MEA STATESMAN NEWS SERVICE New Delhi, 3 October Five Indian nationals on board Kuwait-flagged tanker MT Kazimah III were successfully rescued after the vessel was struck by a projectile, the Ministry of External Affairs (MEA) said on Saturday. “Rescue of five Indian nationals on board the Kuwait-flagged tanker MT Kazimah III… We remain committed to the safety, security and welfare of our seafarers abroad,” MEA spokesperson Randhir Jaiswal wrote on X. This comes after the Embassy of India in Oman stated that it was coordinating the rescue of Indian nationals from the vessel and all five nationals have been shifted ashore safely. “Earlier today, the Mission coordinated rescue of five Indian nationals on board the Kuwait-flagged tanker MT Kazimah III, struck by a projectile in the Strait of Hormuz. All 5 Indian nationals have been shifted ashore safely. We thank the Omani authorities for their continued support and assistance,” the Embassy stated on X. Last month, one Indian seafarer was killed and 19 others rescued after an attack on the commercial vessel MV Cape Dao off the east coast of Oman. At that time, the MEA had strongly condemned the attack. “We condemn the attack on the commercial vessel MV Cape Dao off the east coast of Oman. Of the 20 Indian seafarers on board, 19 have been rescued, while 1 Indian national tragically lost his life. We offer our deepest condolences to the family of the deceased. Our Embassy in Oman is closely monitoring the situation and coordinating with Omani authorities for the early repatriation of the Indian seafarers. We thank the Omani authorities for their support,” the MEA had stated on 23 September. Further, it maintained that continuing attacks on commercial shipping in the region were deeply worrisome. Air Chief: IAF hopes to seal MRFA deal this financial year PARWINDER SANDHU New Delhi, 3 October T he Indian Air Force is hopeful of signing the long-pending Multi-Role Fighter Aircraft (MRFA) contract during the current financial year, Air Chief Marshal A P Singh said on Saturday, even as he acknowledged that the declining strength of the fighter fleet remained a concern for the force. “If things go well, MRFA, we should be able to sign this financially. That’s what my hope is,” ACM Singh said while addressing a press conference ahead of the 94th Air Force Day. The Air Chief said negotiations on the MRFA programme were progressing, with the proposed acquisition of 114 fighter aircraft expected to augment the IAF’s combat fleet. The MRFA programme is part of the IAF’s efforts to arrest the decline in its fighter CJP announces nationwide protest from 10 Oct, seeks CEC Gyanesh Kumar’s resignation STATESMAN NEWS SERVICE New Delhi, 3 October The Cockroach Janta Party (CJP) on Saturday announced a nationwide protest on 10 October, demanding the immediate resignation of Chief Election Commissioner Gyanesh Kumar over what the par ty alleged were irregularities in electoral rolls. The announcement came after a protest organised by the CJP at Shivaji Park in Mumbai on Saturday, where, according to the party, thousands of citizens participated despite police restrictions. CJP founder and convener Abhijeet Dipke said members and supporters from across the country would converge on the national capital if the Chief Election Commissioner did not step down and stage a mass demonstration at Jantar Mantar. “If Gyanesh Kumar doesn’t resign, cockroaches from across India will march to Delhi and protest at Jantar Mantar on 10 October,” Mr Dipke said. He said the proposed demonstration would remain peaceful and accused the authorities of attempting to prevent citizens from exercising their right to protest. “And if the Delhi Police tries to stop us, wherever they stop us will become our Jantar Mantar. Ours will be a peaceful protest. We will walk on the path shown by Mahatma Gandhi. It is up to the Government and the Delhi Police whether they respect our right to peaceful protest or repeat the brutality we witnessed on 20 July,” he said. The CJP said the proposed agitation would follow a non-violent approach and drew parallels with historic civil disobedience movements, saying its objective was to raise concerns over public confidence in democratic institutions. The party also said administrative restrictions or police barricades would not deter its supporters from joining the proposed demonstration, citing previous protests and detentions as evidence of their resolve. “This is a fight to save our democracy. Every citizen who wants free and fair elections must join us on 10 October,” Mr Dipke said. Air Chief Marshal A P Singh addresses a press conference at the Air Force auditorium in New Delhi on Saturday. IANS squadron strength, which ACM Singh said had been affected by the phasing out of older aircraft as well as delays in planned inductions. “Our numbers are decreasing. The aircrafts that we were relying on, they have also come down,” he said, adding that delays in planned programmes had “increased a bit” and “it is going to hurt us, no doubt.” ACM Singh said the IAF would require an induction rate of around 36 to 40 fighter aircraft annually in the coming years to halt the decline and move towards the sanctioned strength of 42 squadrons. “If we have to stop going down from 30 fighter squadrons and start improving towards the stated target of 42, actually, we need even more than that,” he said. He stressed that the IAF would need a mix of aircraft rather than relying on a single platform to meet its operational requirements. “One aircraft cannot do all the things that we want it to. And it may not be even very cost effective,” he said. “So we have to have a happy mix of three or four types at least for us to do all our roles in a good manner.” The emerging fleet mix would include the Tejas Mk-1A, Tejas Mk-2, MRFA and other indigenous platforms, he said. On the delayed induction of Tejas Mk-1A fighters, ACM Singh acknowledged that the slippage had been longer than expected and said the IAF was also looking towards the Mk-2 variant to address capability gaps. “It happens that you plan something, but things get delayed. But this time, the delay has been much. We are also looking towards Mark 2. All these will be able to fill in the gaps that exist,” he said. Capt Smit Machchhar recovering well: Indian Embassy in UAE India backs dialogue, diplomacy to end Ukraine conflict: EAM Jaishankar STATESMAN NEWS SERVICE New Delhi, 3 October External Affairs Minister S Jaishankar on Saturday chaired a consultative committee meeting on India-Russia relations, reviewing bilateral engagement across trade, investment, energy, connectivity and people-to-people ties while reiterating India’s support for dialogue and diplomacy to bring the ongoing Ukraine conflict to an end. The meeting reviewed wide -ranging bilateral engagement between India and Russia across several sectors, including trade, investment, energy, connectivity, culture and people-to-people ties. In a post on X, Mr Jaishankar said: “Chaired a consultative committee meeting on India-Russia relations. Highlighted various aspects of our multifaceted engagement, including in trade, investments, energy, connectivity, culture and P2P domains. As well as our active support to dialogue & diplomacy to end the Ukraine conflict.” The meeting also discussed a shared ambition to expand bilateral trade in a balanced manner, including through greater Indian exports to Russia in seven areas ~ auto, pharma, food, marine products, engineering goods, chemicals and textiles. Both sides also discussed an India-Eurasian Economic Union Free Trade Agreement. Discussions also covered the Chennai-Vladivostok corridor, the International North-South Transport Corridor (INSTC) and the Northern Sea Route. India’s priority is to safeguard the interests of Indian consumers, with an approach focused on maintaining multiple sources of supply. Russia has agreed to take around 70,000 Indian skilled workers this year, particularly in construction and logistics. The government has engaged with Russian authorities, including at the highest levels, for the early discharge of Indian individuals who are in the Russian military. So far, around 140 Indian nationals have been discharged. The Indian side is also in touch with Russian authorities regarding the whereabouts of 55 Indian nationals who are reportedly in the Russian Army. Strong action is being taken by Indian law enforcement authorities against unscrupulous agents. Members were also apprised of the grave dangers for Indian citizens in joining the Russian Army. UAE Deputy Prime Minister and Crown Prince of Dubai Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum meets Flydubai pilot Captain Smit Machchhar in UAE, on Saturday. IANS STATESMAN NEWS SERVICE New Delhi, 3 October Captain Smit Machchhar, the Indian pilot of Flydubai flight FZ1073 who was injured while preventing a mid-air attack, is under excellent medical care and recovering well, the Indian Embassy in the UAE said on Saturday. The embassy said it was coordinating with Captain Machchhar’s family and local authorities. It also thanked the UAE government for the care being extended to him. “Indian braveheart Capt. Smit remains under excellent medical care and is recovering well. We are in touch with his family and local authorities, extending support for a speedy recovery. Our thanks to UAE gov. for their care. We join well-wishers in praying for his good health,” the Indian Embassy in the UAE said in a post on X. Captain Machchhar was injured on Wednesday while preventing a mid-air attack aboard a flydubai flight from Dubai to Israel. During the incident, another pilot stabbed Captain Machchhar, causing the aircraft to begin plummeting. The Indian pilot fought the assailant and opened the cockpit door, following which passengers rushed to assist, entered the cockpit and overpowered the attacker. Once the attacker was subdued, the seriously wounded Indian pilot was stabilised until the aircraft made an emergency landing in Saudi Arabia. Resilient economy, fiscal prudence key to navigating global uncertainty: Finance Minister Sitharaman RBI Governor flags emerging global financial risks, calls for stronger resilience SOURAV SHEKHAR New Delhi, 3 October New Delhi, 3 October Finance Minister Nirmala Sitharaman on Saturday said India’s economic resilience had been built over the past decade through stronger household support systems, a robust banking sector, infrastructure creation, reforms and prudent management of public finances. Addressing the fifth Kautilya Economic Conclave here, organised by the Institute of Economic Growth in collaboration with the Ministry of Finance, Mrs Sitharaman said resilience meant the ability to absorb shocks without losing the growth path while retaining policy space to deal with future disruptions. Referring to the global shocks of recent years, she said crude oil price spikes, geopolitical conflicts, tighter monetary conditions in the US and rising trade barriers had tested economies worldwide. Conflicts involving Russia, Ukraine and Iran, along with disruptions around the Strait of Hormuz, had created risks not only to energy prices but also to the physical availability of oil and gas. “A price shock can be cushioned with monetary and fiscal tools, but a quantity shock tests buffer stocks and the reach of delivery systems,” she said. Against this backdrop, Mrs Sitharaman highlighted India’s economic indicators, noting that real GDP grew 7.8 per cent in the first quarter of FY27, while the current account deficit stood at 0.5 per cent of GDP. She said gross NPAs of banks were at multi-year lows and foreign exchange reserves stood at about USD 766 billion. The Finance Minister said the foundations of resilience had been built since 2014, beginning with strengthening householdlevel resilience through initiatives such as Jan Dhan-Aadhaar-Mobile, direct benefit transfers, housing, sanitation, clean cooking fuel, healthcare and food security. She said access to finance had supported entrepreneurship and small businesses, with the PM Mudra Yojana sanctioning more than 52 crore collateral-free loans. Banking sector reforms, including recapitalisation, resolution of stressed assets, and stronger governance and risk-management frameworks, had further strengthened the financial system. Mrs Sitharaman also highlighted infrastructure creation, saying the Centre had budgeted Rs 12.22 lakh crore for capital expenditure in FY27. National highways had expanded by about 61 per cent, operational airports had more than doubled, while major ports had seen cargo-handling capacity rise by nearly 60 per cent since 2014. STATESMAN NEWS SERVICE Reserve Bank of India (RBI) Governor Sanjay Malhotra on Saturday cautioned that prolonged periods of financial stability can encourage excessive risk-taking and leverage, stressing the need for continued vigilance as geopolitical fragmentation, technological disruption, climate change and other global shifts create a new generation of interconnected financial risks. Addressing the 5th Kautilya Economic Conclave here, the Governor said the global economy and India have remained resilient through repeated shocks, including the Covid-19 pandemic. However, he warned that fading memories of past crises could weaken prudence. Drawing on India’s experience, he noted that financial vulnerabilities could build rapidly but take years to resolve, citing the legacy of excessive lending and non-performing assets from the early 2000s. The Governor said the international economic order is undergoing significant changes, with geopolitical and geoeconomic fragmentation, trade restrictions, supply shocks, technological disruption and climate change interacting in unpredictable ways. Against this backdrop, he stressed that financial stability was fundamental to price stability and effective monetary policy transmission. He said the RBI’s regulatory and supervisory responsibilities, including oversight of banks, NBFCs and payment systems, its role as lender of last resort, and the depositor insurance framework, provided the tools to identify vulnerabilities and respond to emerging risks. The central bank’s approach was not to prevent every shock but to ensure that the financial system acts as a “shock absorber” through prudent regulation, risk-based supervision, macroprudential measures, liquidity support and effective resolution mechanisms. Looking at the global outlook, the Governor identified five major areas of concern: elevated global debt, stretched asset valuations linked particularly to artificial intelligence, rising leverage among non-bank financial intermediaries, vulnerabilities in private credit and growing cyber risks amplified by AI.