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World Bank upgrades India’s FY26 growth forecast to 6.5%, cites strong rural recovery

The World Bank raised India’s FY26 growth forecast to 6.5%, citing strong domestic consumption, rural wage growth, and a robust agricultural recovery, reaffirming India’s position as the world’s fastest-growing major economy.

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India’s FY26 Growth Forecast

India’s economic momentum remains unmatched among major global economies, with the World Bank revising the country’s GDP growth forecast for FY26 to 6.5%, up from its earlier 6.3% estimate made in June.

According to the World Bank’s latest report released on Tuesday, the upgrade reflects resilient domestic demand, a robust rural recovery, improved agricultural output, and the positive effects of recent tax reforms. The report reaffirmed that India will continue to be the world’s fastest-growing major economy.

While India’s outlook brightened, growth trends across South Asia remained mixed. The World Bank pegged Bangladesh’s growth at 4.8%, while Bhutan’s projection was trimmed to 7.3% for FY26 due to hydropower construction delays. Growth is projected to rebound in Bhutan once projects accelerate in FY27.

In contrast, Sri Lanka’s forecast was upgraded to 3.5% for FY26, driven by a strong rebound in tourism and services. However, Maldives and Nepal are expected to face slower growth—3.9% and 2.1%, respectively—owing to weak demand and political instability.

Overall, South Asia’s regional growth is projected at 6.6% in 2025, moderating to 5.8% in 2026, a 0.6 percentage point downward revision from the April forecast. The report cautioned that risks such as the global economic slowdown, trade uncertainties, political unrest, and disruptions from emerging technologies like artificial intelligence (AI) could weigh on future growth.

“South Asia has enormous economic potential and is still the fastest growing region in the world,” said Johannes Zutt, World Bank Vice President for South Asia. “But countries need to proactively address risks to growth. They can boost productivity, spur private investment, and create jobs by maximizing the benefits of AI and lowering trade barriers, especially for intermediate goods.”

The World Bank emphasized that AI presents both challenges and opportunities for the region. While automation may displace some low- to mid-skilled jobs, it can also deliver significant productivity gains in sectors like IT and business services. Jobs demanding AI expertise are already commanding a 30% wage premium, indicating a rapid shift in labor market demand.

To sustain high growth, the report recommended reforms to ease business regulations, improve transport and digital infrastructure, enhance job-matching and upskilling programs, and strengthen social safety nets for workers affected by technological transitions.

India News

EC extends SIR deadlines for 6 states, no change for West Bengal

The Election Commission has extended the SIR exercise in six states and a Union Territory, while West Bengal and three others received no extension as the voter roll update process progresses.

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The Election Commission has revised the timeline for the ongoing Special Intensive Revision (SIR) of electoral rolls in six regions, while keeping the schedule unchanged for West Bengal, Goa, Lakshadweep and Rajasthan. The SIR exercise, aimed at removing inaccuracies and updating voter lists, will now continue for longer in Tamil Nadu, Gujarat, Madhya Pradesh, Chhattisgarh, Uttar Pradesh, and the Andaman and Nicobar Islands.

Revised dates for voter roll revision

According to the Election Commission, the enumeration period has been extended as follows:

  • Tamil Nadu and Gujarat: Till December 14
  • Madhya Pradesh, Chhattisgarh, Andaman and Nicobar Islands: Till December 18
  • Uttar Pradesh: Till December 26

The publication of draft rolls will now be:

  • December 19 for Tamil Nadu and Gujarat
  • December 23 for Madhya Pradesh, Chhattisgarh, Andaman and Nicobar Islands
  • December 31 for Uttar Pradesh

Meanwhile, the SIR period concluded today in Goa, Lakshadweep, Rajasthan and West Bengal, with no extension granted.

As West Bengal heads towards a crucial election expected early next year, the voter list update process has become part of a broader political narrative between the NDA and Opposition parties, especially after the Bihar polls.

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Mamata Banerjee urges women to resist if voter names are deleted during SIR review

At a Krishnagar rally, Mamata Banerjee alleged misuse of the SIR voter list review and urged women to stand firm if their names were removed.

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Mamata Banerjee

West Bengal Chief Minister Mamata Banerjee, sharpening her attack on the ongoing Special Intensive Revision (SIR) of voter lists, called on women to stand up against any attempt to remove their names from the electoral roll. Addressing a gathering in Krishnagar, she alleged that the process was being misused to target voters ahead of elections.

Mamata accuses BJP of trying to intimidate women voters

Banerjee questioned the removal of names from the voter list under the SIR exercise, asserting that mothers and sisters of the state should not allow such actions to go unchecked. She said women possess the strength and the everyday tools used at home, urging them to be ready if their rights were undermined.

She alleged that attempts would be made to influence the electoral process by bringing police from outside the state and using fear tactics. Banerjee added that during elections, efforts were often made to divide people and misuse money power.

Reaffirming her stance on secularism, she said she wanted to see whether the women of Bengal or the BJP were “more powerful” in this fight.

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Andhra Pradesh High Court orders anti-corruption probe into Tirupati donation theft case

Andhra Pradesh High Court has ordered the CID and ACB to file an FIR and conduct a coordinated probe into the TTD Parakamani theft case, including scrutiny of a Lok Adalat settlement and the complainant’s suspicious death.

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tirupatitirumala

The Andhra Pradesh High Court has directed the Criminal Investigation Department (CID) and the Anti-Corruption Bureau (ACB) to initiate criminal action and register an FIR in the Tirumala Tirupati Devasthanams (TTD) Parakamani (donation box) theft case. The court instructed both agencies to continue investigating the alleged theft, the suspect’s assets, and the earlier settlement reached at a Lok Adalat.

Court seeks deeper scrutiny and coordination among agencies

The High Court emphasised that the probe must also examine how the case was taken to mediation and settled through a compromise. It ordered the CID and ACB to share information with each other and, if necessary, with the Income Tax Department and the Enforcement Directorate (ED) to ensure a comprehensive investigation.

Taking note of the unexplained death of the complainant, Y Satish Kumar—then part of the TTD vigilance team—whose body was found near a railway track in Anantapur district on November 14, the court asked the CID to submit his post-mortem report in a sealed cover within three days.

The next hearing is scheduled for December 16.

Senior TTD officials questioned; theft traced to April 2023 incident

The CID has already examined several former officials, including ex-TTD chairmen B Karunakar Reddy and YV Subba Reddy, and former executive officer AV Dharma Reddy.

The case began on April 29, 2023, when CV Ravi Kumar, an employee at a mutt linked to TTD, was allegedly caught stealing $900 inside the Parakamani hall—the temple’s donation-counting centre. While a local police case was initially filed, it was soon shifted to a Lok Adalat, where a compromise settlement was reportedly reached. Under this arrangement, Ravi Kumar is said to have offered seven properties worth about ₹40 crore in Tirupati and Chennai as restitution to TTD.

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