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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The World Bank increased India’s GDP forecast for FY26 to 6.5%, up from 6.3% projected in June. The rise comes from resilient domestic demand, tax reforms, and strong rural recovery. Bangladesh’s growth is pegged at 4.8%, while Bhutan’s estimate fell to 7.3% due to hydropower delays. Growth in Maldives is expected at 3.9%, and Nepal may slow to 2.1% amid unrest.

Sri Lanka’s forecast has been upgraded to 3.5%, supported by tourism and service exports. South Asia’s overall growth is projected at 6.6% in 2025 but may ease to 5.8% in 2026 due to global and regional risks, including trade uncertainty and AI-related disruptions.

World Bank Vice President Johannes Zutt urged South Asian nations to address risks and embrace AI for productivity gains. The report also advised reforms to boost jobs, improve connectivity, and expand safety nets for workers affected by technology shifts.

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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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