Maha bids a tearful adieu to Ajit Pawar The 66-year-old NCP chief was cremated with full state honours at the Vidya Pratishthan college ground in Baramati on Thursday. As thousands gathered to pay their last respects, Pawar’s sons, Parth and Jay, lit the funeral pyre in the presence of Union Home Minister Amit Shah and Pawar’s extended family. Sharad Pawar, Ajit’s uncle, sat quietly watching a legacy he helped build become a memory | P12 bengaluru l friday l January 30, 2026 l `9.00 l PAGES 42 l late city EDITION CHENNAI ■ MADURAI ■ VIJAYAWADA ■ BENGALURU ■ KOCHI ■ HYDERABAD ■ VISAKHAPATNAM ■ COIMBATORE ■ KOZHIKODE ■ THIRUVANANTHAPURAM ■ BELAGAVI ■ BHUBANESWAR ■ SHIVAMOgGA ■ MANGALURU ■ TIRUPATI ■ TIRUCHY ■ TIRUNELVELI ■ SAMBALPUR ■ HUBBALLI ■ DHARMAPURI ■ KOTTAYAM ■ KANNUR ■ VILLUPURAM ■ KOLLAM ■ TADEPALLIGUDEM ■ NAGAPATTINAM ■ THRISSUR ■ KALABURAGI Economic Survey 2025-26 National GDP expected to grow at 6.8-7.2% next financial year India to stay in fast lane P U S H P ITA D E Y @ New Delhi INDIA’s economic engine is revving up and is expected to enter the next financial year at full throttle, the Economic Survey 2025-26 tabled in Parliament on Thursday signalled as it projected a real GDP growth rate 6.8%-7.2% for FY27. This outlook follows a strong performance in FY26 where the economy is estimated to grow at 7.4%, reinforcing India’s position as the world’s fastestgrowing major economy for the fourth consecutive year. The Survey upgraded India’s medium-term potential growth rate to 7% from the previous estimate of 6.5%. However, it flagged global uncertainties and warned of a 2008-like crisis in 2026. Given the potential risks, having a strong and sustained manufacturing growth would be the need of the hour, the finance ministry said. “First Advance Estimates place real GDP growth at 7.4% with growth largely driven by domestic demand. Private consumption and capital formation continue to support expansion, while services remain the key contributor on the supply side,” the Survey said. Higher tax collection, better export market, lower inflation and better employment will contribute to the growth momentum. The Survey tabled by , Finance Minister Nir mala Sitharaman in both Houses on Thursday, highlighted how internal resilience has helped create a buffer for the economy against external headwinds. The Survey highlighted the tax reforms – both in direct and indirect taxes – during the previous year, and noted that these helped India make a calibrated fiscal strategy, anchored in credible deficit reduction leading to resilient revenue mobilisation, and better spending toward capital formation. The Survey listed strong fiscal indicators – revenue receipts rising from 8.5 % of GDP in the pre-pandemic period (FY16-FY20) to 9.1% in FY22FY25, moderation of revenue expenditure from 13.6% of GDP in FY22 to 10.9 % in FY25, and halving of fiscal deficit from 9.2% in FY21 to 4.4% in FY26. The Survey advocated for more de-regulation to create a self-reliant (Swedeshi) Indian economy . Chief Economic Advisor V Anantha Nageswaran said Swadeshi Ecosystem could be achieved through deregulation, whole-of-government approach, and cluster-led growth, input costs reduction including removal of inversion and crosssubsidisation. And thus, having an entrepreneurial mindset is much needed to have a risktaking attitude. P11, 15 Policy prescriptions Tariff impact Focus on building national capabilities and economic sovereignty in the face of shrinking space for rules-based trading, antiimmigrant stance, weaponisation of energy and export controls Costly freebies Direct cash transfers to voters ahead of elections ­— a new strategy adopted by political parties — have long-term viability risks. Aggregate spending on such transfers would be `1.7 lakh crore in FY26, it warned SC stays UGC fiat on campus equity S U C HITRA K A LYA N M O HA N T Y @ New Delhi THE Supreme Court on Thursday stayed till March 19 the University Grants Commission (Promotion of Equity in Higher Education Institutions) Regulations, notified on January 23 after hearing a batch of pleas challenging the Commission’s controversial order. The new Promotion of Equity in Higher Education Regulations, 2026 had revised measures to tackle caste-based discrimination in campuses by restricting grievance mechanisms only for SC, ST and OBC categories. E x p r e s s Re a d 2% Cool inflation Retail inflation is unlikely to cause major worries as economy is supported by favourable supplyside conditions and gradual passthrough of GST rate cuts. Inflation may average 2% this fiscal. The new CPI series, due to kick in on Feb 12, will have implications for inflation assessment G RAM G vs MGNREGS The VB-G RAM G Act, 2025 was brought in because there was a notable decline in work under MGNREGS. Since its enactment in 2005, MGNREGS provided wage employment, stabilised rural income, and created basic infrastructure, but the nature of rural employment requirements transformed overtime. Session extended by four days till Feb 4 Bengaluru: The joint session of the legislature, which was to conclude on January 31, has been extended till February 4, Speaker UT Khader told the Assembly on Thursday | P4 biffes Call for CM to take stand on screening of Palestinian films Amid a row over the Centre not clearing four Palestinian movies for screening, actor Prakash Raj insisted that CM Siddaramaiah take a stand. In protest, he read out a Palestinian poem on the inaugural stage set on the steps of Vidhana Soudha | P2 “The 2026 UGC regulations on what amounts to caste-based discrimination shall be kept in abeyance. The 2012 Regulations will continue. The provisions are prima facie vague and capable of misuse,” it said. A two-judge bench of Chief Justice Surya Kant and Justice Joymalya Bagchi passed the order noting that the court was prepared to examine the constitutionality of the new regulations. The petitions before the court alleged that the UGC adopted a non-inclusive definition of caste-based discrimination and excluded certain categories from institutional protection. Several pleas challenged the regulations for excluding ‘general category’ students from t h e g r i ev a n c e r e d r e s s a l mechanism. The court orally observed that if it does not intervene in the matter, it “will lead to a dangerous impact” and “divide the society”. In strong remarks during the hearing, the Chief Justice questioned Solicitor General Tushar Mehta, asking whether the country was becoming regressive. Tharoor gets his space, Rahul smokes peace pipe P r e e t h a N a i r @ New Delhi Amid reports of unease with the party leadership, Congress MP Shashi Tharoor on Thursday held a detailed meeting with party president Mallikarjun Kharge and Leader of Opposition in the Lok Sabha Rahul Gandhi, signalling a possible thaw in relations. According to sources, Tharoor was assured by Rahul that he would receive due recognition within the party going forward as both sides emphasised unity and coordination as the party gears up for the crucial Kerala assembly elections scheduled for April–May . The nearly two-hour meeting at Kharge’s Parliament office addressed concerns over Tharoor’s Shashi Tharoor with Rahul Gandhi and Congress president Mallikarjun Kharge perceived sidelining within the organisation. Sources said Rahul conveyed to Tharoor that his services were crucial for the Congress and assured him that he would be included in important decision-making processes. This was the first time Rahul had spent such an extended period with Tharoor, noting that previous interactions were limited to brief meetings of five to ten minutes. Yettinahole Contracts given without assessing contractors’ capability: CAG As h w i n i M S r i pa d @Bengaluru The Comptroller and Auditor General (CAG) report on the Yettinahole Integrated Drinking Water Project has revealed that 80 per cent of works were awarded without assessing contractors’ financial capacity bid, ding ability or experience, pos, ing a risk of delays and non-completion. The report also said that the project aimed to provide drinking water to Kolar and Chikkaballapura districts, has lingered for more than 12 years due to severe deficiencies, including long delays in land acquisition, inordinate delays in construction of Balancing Reservoir, non-synchronisation of Phase-I and Phase-II components and funding uncertainty . “As a result, despite a very large expenditure of Rs 15,297 crore (as of March 2024), the project’s primary objective of providing drinking water facility to intended beneficiary districts remains unfulfilled,” it said. The audit report that was tabled in the assembly on Thursday noticed deficiencies in tendering process such as non-adoption of standard tender document, non-assessment of bid capacity of contractors and insufficient bidding time for high value contracts ranging from Rs 87.08 crore to Rs 1,135 crore. P4