Lionel Messi's legacy hard to match: Sourav Ganguly on Argentina star's retirement

A news report outlines the governance and development milestones of Uttar Pradesh, highlighting a transformation in law and order, economic growth, and infrastructure. The administration has focused on maintaining peace, eradicating curfews, and ensuring security for cultural and religious events across the state. Significant progress has been made in connectivity, with the expansion of expressways, domestic and international airports, metro networks in seven cities, rapid rail systems, and inland waterways. Strict action under a zero-tolerance policy has been enforced against crime and examination paper leaks, including asset confiscation and stringent prison sentences. The state has shifted from past economic challenges to becoming one of the top state economies in the country, providing government jobs to 9.5 lakh youth and fostering skill development zones in emerging technologies such as robotics and artificial intelligence. The report highlights progress across micro, small, and medium enterprises, geographical indication tagging, and youth employment initiatives.

A panel of leading economists examines whether the Modi government has proven doomsdayers wrong amid 7.8% GDP growth numbers. Dr Surjit Bhalla notes a rise in the investment-to-GDP ratio to 34% but asserts that achieving the Viksit Bharat 2047 target remains 'impossible' without sustained double-digit dollar growth. Nilkanth Mishra highlights fiscal consolidation returning to pre-COVID levels and expects steady growth despite global headwinds and rising bond yields. Meanwhile, Dr Ahluwalia stresses that long-term goals require substantially higher expansion, pointing out persistent challenges around formal employment, the impact of AI, and regulatory complexities for mid-scale businesses. The panel debates necessary structural reforms, trade dynamics, and ease of doing business across key sectors.

Amid ongoing political controversies and economic debates surrounding India's gross domestic product numbers, prominent economists Dr. Montek Singh Ahluwalia, Surjit Bhalla, and Nilkanth Mishra examined the data revision methodology and accuracy. Nilkanth Mishra clarified that comparisons between new and old statistical series are fundamentally flawed because fast-growing economies with large informal sectors require regular base-year resets, adding that national statistical authorities function independently of government directives. Dr. Montek Singh Ahluwalia noted that quarterly numbers are preliminary and require technical scrutiny regarding why base-year revisions yielded a lower aggregate GDP compared to global trends. Surjit Bhalla affirmed there is no evidence indicating political manipulation or artificial inflation in national accounts data. He highlighted that components like consumption were actually reported lower, private investment had documented increases, and import price dynamics played a structural role in the estimates.

Could Vladimir Putin’s proposed SCO Development Bank become a major challenge to America’s financial power? At the SCO summit in Bishkek, Putin called for an independent development bank that could finance infrastructure, energy, transport, technology and cross-border projects among member states. The bigger objective: reducing dependence on Western financial systems, the dollar and sanctions.