Latest News: Indian share markets will be open for trading on Sunday, February 01, as the Union Budget is being presented on that day * Key Highlights of Economic Survey 2025–26: GDP & GVA Growth Estimates for FY 2026: First advance estimates at 7.4% and 7.3% respectively * India’s Core Growth Projection: Around 7%, with real GDP growth for FY 2027 expected between 6.8% and 7.2% * Central Government Revenue: Rose to 11.6% of GDP in FY 2025 * Non-Performing Assets: Declined to a multi-decade low of 2.2% * PMJDY Accounts: Over 552 million bank accounts opened by March 2025; 366 million in rural and semi-urban areas * Investor Base: Surpassed 120 million by September 2025, with women comprising ~25% * Global Trade Share: India’s export share doubled from 1% in 2005 to 1.8% in 2024 * Services Export: Reached an all-time high of $387.6 billion in FY 2025, up 13.6% * Global Deposits: India became the largest recipient in FY 2025 with $135.4 billion * Foreign Exchange Reserves: Hit $701.4 billion on January 16, 2026—covering 11 months of imports and 94% of external debt * Inflation: Averaged 1.7% from April to December 2025 * Foodgrain Production: Reached 357.73 million metric tons in 2024–25, up 25.43 MMT from the previous year * PM-Kisan Scheme: Over ₹4.09 lakh crore disbursed to eligible farmers since inception * Rural Employment Alignment: “Viksit Bharat – Jee Ram Ji” initiative launched to replace MGNREGA in the vision for a developed India by 2047 * Manufacturing Growth: 7.72% in Q1 and 9.13% in Q2 of FY 2026 * PLI Scheme Impact: ₹2 lakh crore in actual investment across 14 sectors; production and sales exceeded ₹18.7 lakh crore; over 1.26 million jobs created by September 2025 * Semiconductor Mission: Domestic capacity boosted with ₹1.6 lakh crore invested across 10 projects * Railway High-Speed Corridor: Expanded from 550 km in FY 2014 to 5,364 km; 3,500 km added in FY 2026 * Civil Aviation: India became the third-largest domestic air travel market; airports increased from 74 in 2014 to 164 in 2025 * DISCOMs Turnaround: Recorded first-ever positive PAT of ₹20,701 crore in FY 2025 * Renewable Energy: India ranked third globally in total renewable and installed solar capacity * Satellite Docking: India became the fourth country to achieve autonomous satellite docking capability * School Enrollment Ratios: Primary – 90.9%, Upper Primary – 90.3%, Secondary – 78.7% * Higher Education Expansion: India now has 23 IITs, 21 IIMs, and 20 AIIMS; international IIT campuses established in Zanzibar and Abu Dhabi * Maternal & Infant Mortality: Declined since 1990, now below global average * E-Shram Portal: Over 310 million unorganised workers registered by January 2026; 54% are women * National Career Service Portal: Job vacancies exceeded 28 million in FY 2025 and crossed 23 million by September 2026

Climate Change Issues Need Better Attention


The meeting emphasized once again that it was time for the developed world to work in close cooperation with the four BASIC countries to resolve the issues pertaining to climate change. It said that the rich nations must in fact take a lead in dealing with pollution- induced climate change and take suitable action keeping in mind the ‘historical responsibilities ’.  The Indian environment minister Mr.Prakash Javadekar said later that it was found that on the mitigation front actions taken by the developing countries are more concrete than the developed world. It is therefore high time for the developed countries to “walk the Talk” in this regard. (Read in Hindi: जलवायु परिवर्तन के मुद्दों पर अधिक ध्‍यान देने की आवश्‍यकता)

The Vice-Chairman of the National Development and Reform Commission of China Xie Zhenhua pointed out that developing countries were contributing 60% cut in the mitigation field by cutting down Green House Gas emissions. This has become possible thanks to the big strides taken in renewable energy sector in India and many other countries.

It is unfortunate that despite the dangers of global warming in front of us not much is being done. What we see is a tussle between the developed and the developing world on taking most wanted measures.

For instance, the Kyoto Protocol which forms the central point of all efforts in the field of environment and subsequent negotiations have put a responsibility on developed nations to provide sufficient financial, technical and capacity building support  to the developing countries  to enable them to pursue mitigation efforts. This has not happened. The joint statement issued later expressed disappointment over the continued lack of any clear roadmap for providing US$ 100 billion per year by developed countries by 2020. They urged developed countries to honour their obligations to provide ‘new, additional and predictable financial support to developing countries in a measurable, reportable and verifiable manner’.

It was in this backdrop that the New Delhi meeting of BASIC countries called upon the developed countries to make early and substantial capitalization of the Green Climate Fund (GCF). It also underlined the need for all parties to communicate their intended nationally determined contributions (INDCs) as early as possible.

Climate change has also been identified as the biggest health threat of this century. This must make the world sit up and resolve issues at the earliest. Urgent steps need to be taken to meet this challenge.

Obviously, most of the brunt of the implications of climate change is borne by the developing countries. But that is no reason for the developed countries to take a back seat. Since climate change impacts are global in nature, adaptation measures also need an international response.

Fortunately, this bloc of four countries has become quite powerful to be able to thwart any attempt by rich nations to unreasonably impose their wish on developing nations during any negotiations on climate change issues under the UN convention.

The joint statement issued after the two- day meeting reaffirmed their position that the future global climate deal must fulfil the principles of equity and 'common but differentiated responsibilities' (CBDR) under UN convention.

The Ministers reiterated that the six core elements for the 2015 outcome at Lima have been identified and that these should be addressed in a ‘balanced and comprehensive manner through an open and transparent, inclusive, party-driven and consensus-building process’.

It was noted with concern that the pre-2020 ambition gaps exist not only in mitigation but also in adaptation, finance, technology and capacity-building support to developing countries. They reiterated that the contribution of developing countries to mitigation efforts is far greater than that of developed countries and could be further enhanced if developed countries effectively implement and significantly increase their commitments of providing finance, technology and capacity building support to developing countries.

The Ministers called for the full operationalization of and close coordination between institutions established in the Bali process, including the Green Climate Fund, the Standing Committee on Finance, the Technology Executive Committee, the Climate Technology Centre and Network and the Adaptation Committee.

One hopes that the next round of UN Climate summit meeting later this month will be more productive keeping in view the concerns of the developing nations.
The next round of the BASIC ministerial meeting will take place in South Africa in October.

(Author is a Senior Freelance Journalist)