Nagpur, Mar 06: Ravindra Duragkar could only recall memories of his son, Flight Lieutenant Purvesh Duragkar, the most vivid being their phone chat on Wednesday and his visit home ten days ago for a family get-together.

As IAF officials tried to console the retired railway employee at his home in Nagpur’s New Subedar Layout, the grief-stricken father occasionally regained his composure to say that Purvesh took immense pride in flying a fighter jet.

Squadron Leader Anuj and Flight Lieutenant Purvesh were killed when a Su-30 MKI fighter jet crashed in Assam’s Karbi Anglong district, the IAF said on Friday. The jet was on a training sortie and disappeared from radar shortly after taking off from Jorhat airbase on Thursday.

“We had spoken on Wednesday. His Group Captain got in touch with us and informed us about the accident,” said Ravindra, his eyes welling up.

His 28-year-old son had taken part in Operation Sindoor, which India launched to target terror bases in Pakistan following last year’s Pahalgam attack, he said, adding that Purvesh was deeply committed to his work.

Ravindra said Purvesh was originally posted in Tezpur, Assam, but was operating from Jorhat as work was being carried out on the Tezpur runway.

A neighbour told PTI that Purvesh is survived by his parents and a sister settled in the US. Purvesh and his sister, an IITian, had come home ten days ago for a family get-together, the neighbour said. Ravindra also recalled the family function.

Purvesh, who did his schooling in Nagpur, was single. Ravindra said his son’s body is likely to reach Nagpur in the evening.

“My son was extremely proud to be part of the Indian Air Force. He would sometimes share his experience of flying fighter planes and the speeds that IAF jets achieve. He held his colleagues in high regard,” he said.

New Delhi, Mar 06: Gold prices declined Rs 1,100 to Rs 1.64 lakh per 10 grams in the national capital on Friday as traders booked profits at elevated levels for the second straight session, while silver also slipped to Rs 2.71 lakh per kilogram.

According to the All India Sarafa Association, the yellow metal of 99.9 per cent purity depreciated Rs 1,100, or nearly 1 per cent, to Rs 1,64,100 per 10 grams (inclusive of all taxes).

Silver also fell Rs 600 to Rs 2,71,700 per kg (inclusive of all taxes) in the bullion market.

Analysts said traders locked in gains after the recent sharp rally in precious metal prices, even as global trends remained mixed.

“After opening with a gap up earlier in the week, both gold and silver gradually declined this week as a stronger US dollar and rising Treasury yields, along with reduced expectations for interest rate cuts by Federal Reserve, outweighed safe-haven demand stemming from the escalating Middle East conflict,” Saumil Gandhi, Senior Analyst – Commodities at HDFC Securities, said.

He added that investors continued to exit gold-backed exchange traded funds (ETFs) this week, indicating softer investment demand.

“ETFs reduced their gold holdings by 93,479 troy ounces in the latest session, marking the fourth consecutive day of outflows — the longest losing streak since February 6,” Gandhi said.

However, in the international markets, bullion prices were trading higher on renewed safe-haven demand, with spot gold gaining USD 14.70, or 0.29 per cent, to USD 5,095.81 per ounce, while silver increasing 1.4 per cent to USD 83.40 per ounce.

Traders said escalating tensions in the Middle East continued to support precious metals, though profit-booking limited gains in the domestic markets.

“Gold and silver prices experienced notable fluctuations on Friday, driven primarily by ongoing geopolitical tensions in the Middle East and robust safe-haven buying,” Gaurav Garg, Research Analyst at Lemonn Markets Desk, said.

These precious metals are gaining traction as investors seek refuge amid market volatility and rising crude oil prices, which surged to over USD 80 per barrel following the closure of Strait of Hormuz, a key global shipping route, raising concerns about supply disruptions.

“The US stock market reacted negatively, with major indices like the Dow Jones and S&P 500 witnessing significant declines, further fuelling interest in gold and silver,” Garg added.

Jateen Trivedi, VP Research Analyst, Commodity and Currency, LKP Securities, said investors are closely monitoring crucial macroeconomic indicators, including the unemployment rate and non-farm payrolls numbers scheduled to be released later in the day.

Mundali (Odisha), Mar 06: Union Home Minister Amit Shah on Friday asserted that the country is on the verge of eliminating Maoists by the end of this month, and said security forces will defeat those who dream of building a red corridor from Tirupati in Andhra Pradesh to Pashupati in Nepal.

Addressing a function marking the 57th Raising Day of the Central Industrial Security Force (CISF) at Mundali in Odisha’s Cuttack district, he said the force acts as a catalyst for the country’s economic growth by providing security to major establishments.

“Today, I want to assure the nation that the country will be Maoist-free by March 31. Our forces will defeat those who dream of building a red corridor from Tirupati to Pashupati,” he said.

It will be a big achievement for the country’s security forces under the visionary leadership of Prime Minister Narendra Modi to uproot Maoists from the country, Shah said.

“Our security forces have reached the expectations, and the country is now on the verge of eliminating the red rebels,” he said.

In order to achieve the goal of ‘Viksit Bharat’ by 2047, as aimed by the Prime Minister, the forces have ensured internal security, the most important ingredient for the growth of a nation, the union home minister said.

Noting that the CISF has been providing security to major installations, ranging from reservoirs and industries to Parliament, Shah said the force “played the role of a catalyst for the economic growth of the country”.

Shah emphasised that higher economic growth is achieved when peace exists, and said, “Our security personnel have effectively implemented their resolutions to maintain industrial peace”.

He said that the vision of building a strong national economy and making India the world’s largest economy cannot be realised without industrial development, and providing a secure environment for industrial growth requires a national-level industrial security force.

In his address, Shah said that after completing 56 years today, the CISF has risen from zero to the pinnacle in the field of industrial security, which is a saga of the force’s dedication and valour.

He said that by combining courage, sacrifice, and dedication with the rich traditions of India’s history, and equipping itself with modern weapons, CISF has demonstrated the resolve to face every kind of challenge.

Stating that the vision for India’s industrial development cannot be imagined without the CISF, Shah said his ministry has recently decided to entrust the security of all ports to the force.

In the coming days, the force will also provide security to private industrial groups in hybrid mode, the union home minister added.

The Prime Minister has placed these resolutions before the people — to make India a fully developed nation by 2047, to achieve the top position globally in every sector, and to make the country the world’s third-largest economy by 2027, he pointed out.

He stated that CISF is playing the role of a catalyst in achieving these goals.

Shah inaugurated two residential projects and laid foundation stones for three reserve battalions with a total cost of Rs 890 crore on virtual mode.

Odisha Chief Minister Mohan Charan Majhi, Assembly Speaker Surama Padhy, Union Education Minister Dharmendra Pradhan and others were present at the programme.

Jammu, Mar 06: The pension bill of the Jammu and Kashmir government is set to double in the 10-year period between 2020-30, with approximately 2.48 lakh retired employees being paid allowances, officials said.

The Jammu and Kashmir administration also said there is no proposal under consideration to revive the Old Pension Scheme (OPS), asserting that it would be fiscally unsustainable in the long run and could pose significant risks to financial stability.

As per official data of the government, Rs 5,829 crore were paid as pension to retired employees in 2020-21 and the figure is set to go up to Rs 11,798 crore in 2030-31. This is as per a government reply to a cut motion in the Jammu and Kashmir assembly recently.

The year-wise pension outgo over the last five years has shown a steady rise — Rs 6,668 crore in 2021-22, Rs 7,463 crore in 2022-23, Rs 8,364 crore in 2023-24, Rs 9,350 crore in 2024-25 and Rs 9,127 crore in 2025-26.

Based on the number of employees retiring, the pension outgo is projected to increase further in the coming years. It is estimated to be Rs 11,798 crore in 2030-31.

Officials said that the expansion in pension commitments may continue till the early 2040s, after which the burden is expected to stabilise as employees covered under OPS substantially retire.

They said that the introduction of the New Pension Scheme (NPS) in 2010 provides a sustainable pension framework with effective fund management, unlike OPS which does not have a dedicated pension fund.

They said that Jammu and Kashmir, being an expenditure-led region with modest revenue receipts and limited avenues for investment, has witnessed disproportionate growth in pension liabilities in the past.

Earlier also, pension expenditure had nearly doubled from Rs 731 crore in 2004-05 to Rs 1,495 crore in 2009-10, they said.

Following a cabinet decision in 2009, the government transitioned from a Defined Benefit Pension Scheme — OPS — to a Defined Contribution Pension Scheme — NPS — for all government employees appointed on or after January 1, 2010, through amendments in the J-K Civil Service Regulations, they said.

They further maintained that while fulfilling its commitment to eligible pensioners under OPS, the government ensures that developmental allocations and activities are not adversely affected. Once the pension outgo stabilises around 2040, proportionately more funds are expected to be available for the development sector, it added.