Highlighting fiscal concerns, Ashoka pointed to plans to borrow ₹93,000 crore during the January–March quarter. He said such borrowing reflected panic-driven financial management. According to him, the state faced a deep fiscal imbalance caused by weak planning.

Ashoka alleged that fresh loans were taken to repay older debts. He also claimed funds were being used to sustain guarantee schemes. He described the schemes as financially unsustainable. Ashoka said cash flow problems had emerged due to policy failures.

The opposition leader warned that history would judge Siddaramaiah on economic outcomes, not tenure. He said Karnataka was being burdened with massive debt. Ashoka claimed inefficiency had become visible across governance. He added that future generations would bear the consequences of current decisions. The Congress government has not responded to the allegations so far.

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Services emerged as the main growth driver, expanding by 9.9 per cent at constant prices. Financial services, real estate, professional services, and public administration led the surge. Trade, hotels, transport, communication, and broadcasting services recorded an estimated growth of 7.5 per cent during the year.

Manufacturing and construction posted a combined growth of 7 per cent, while agriculture grew by 3.1 per cent. Real private consumption expenditure rose by 7 per cent, supported by income tax exemptions and GST rate reductions announced in the Union Budget. Gross fixed capital formation increased by 7.8 per cent, reflecting stronger investment activity.

Economic momentum strengthened in FY26, with GDP growth reaching 8.2 per cent in the second quarter. The economy grew at 8 per cent during the first half of the year. Despite global headwinds and US tariff hikes, India remains the world’s fastest-growing major economy, with the IMF projecting growth above 6 per cent in FY26.

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The 101-page report, titled ‘Tax Giveaways, Struggling Schools’, stated that decades of government policies prioritizing GDP growth over social spending left Sri Lanka’s education funding among the lowest globally. HRW warned that this neglect turned the country from a global leader in public education to a laggard.

HRW acknowledged some positive steps by the new government, including a small education bursary for families, but said the education budget increase was marginal. The rights group recommended raising spending to meet the internationally agreed benchmark of 4–6 percent of GDP for education.

The report urged President Anura Kumara Dissanayake’s administration to implement progressive tax reforms and use the income to adequately fund public services. HRW emphasized that economic growth alone is insufficient to uphold human rights and called for urgent measures to benefit all Sri Lankans.

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India’s resilience remarkable amid global uncertainty is not accidental, she noted. It stems from bold reforms, proactive fiscal and monetary policies, and massive infrastructure development. The Finance Minister highlighted that India recorded an average annual growth rate of 8% between 2021–2025, making it the fastest-growing major economy. In the April–June quarter alone, GDP expanded by 7.8%.

Sitharaman also praised the role of banks in driving innovation and supporting entrepreneurs. She urged financial institutions to treat customer complaints as opportunities to improve and build trust. Public sector banks, she said, are central to India’s economic development and must evolve into customer-centric institutions.

She cited the success of UPI as a global model and stressed that while digitalization is transformative, integrity and empathy remain irreplaceable. The Finance Minister concluded by reaffirming India’s commitment to the vision of Viksit Bharat 2047.

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In August, the RBI kept the policy rate at 5.50 per cent after previous easing. Dr Soumya Kanti Ghosh, SBI’s Chief Economic Advisor, said CPI inflation could drop another 65-75 basis points due to GST cuts. Without GST changes, CPI is already below 2 per cent in September and October.

Ghosh added that the 2019 GST rationalisation reduced inflation by 35 basis points in just months. With the new CPI series and base revisions, inflation should stay near the lower end of the RBI target, 4±2 per cent, through FY26 and FY27. October CPI could even reach 1.1 per cent.

SBI believes a September rate cut is justified. Ghosh said the RBI must communicate clearly to avoid mistakes. Lower inflation and stable growth give the central bank room to cut rates and support the economy.

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