Friday, January 30, 2026 | Vol. 69 No. 99 | 31 Pages Reg.No MCS/048/2021-23; RNI No. 1541/1957 M.p.c.s office Mumbai. PIN 400001 THE FREE PRESS JOURNAL WORLD LEPROSY DAY INDIA EDITION | www.freepressjournal.in ● Leader in E-paper circulation l E-paper edition is not a replica of the print edition GAMES NATION US Ambassador Sergio Gor, EAM Jaishankar discuss trade, other key issues Cinema Ashutosh Rana backs Deepika’s 8-hour shift demand Sabalenka in 4th straight Australian Open final, plays Rybakina again for title Edit Why Mumbai’s local trains are turning into death traps REALITY GAP | How does India sustain 7% growth in a world of ‘coercive trade’, ‘proliferating curbs’, & ‘financial stress events transmitted with fewer buffers’? Economic Survey projects FY26 7.4% real GDP growth K Giriprakash 4Contd on | nation Modi sees big moment for farmers Gaurav Vivek Bhatnagar NEW DELHI Macroeconomic Paradox STRONG FUNDAMENTALS, WEAK CURRENCY K Giriprakash BENGALURU Chief Economic Adviser V Anantha Nageswaran opens the Economic Survey 2025-26 with a candid admission that captures the contradiction of India’s current economic state. “The paradox of 2025 is that India's strongest macroeconomic performance in decades has col- lided with a global system that no longer rewards macroeconomic success with currency stability, capital inflows, or strategic insulation,” he writes in the preface. This obviously does not showcase the positive aspect of the Government’s economic documents. In the country’s defence, Nageswaran describes India as a “victim of geopolitics and a strategic power gap”, acknowledging that despite achieving fiscal deficit targets (4.8 per cent vs 4.9 per cent budgeted), receiving three credit rating upgrades, and posting 8 per cent growth in H1 FY26, “the Indian rupee underperformed in 2025”. 4Contd on | nation 4See also | money, edit Very disappointing: US on India-EU pact PTI NEW YORK In the wake of the FTA between India and the EU, the US has described the Europeans as “very disappointing”, saying they were unwilling to join Washington in putting tariffs on New Delhi for its purchases of Russian oil because of this ‘VAGUE’: SC STAYS UGC’S EQUITY RULES FPJ News Service NEW DELHI The Supreme Court on Thursday stayed the operation of the UGC (Promotion of Equity in Higher Education Institutions) Regulations, 2026, expressing serious reservations over their language, scope and potential social impact. It said the regulations were prima facie “vague” and “capable of misuse”, warning that they could have “dangerous consequences” by further dividing society. A bench comprising CJI Surya Kant and Justice Joymalya Bagchi was hearing three writ petitions challenging the constitutional validity of the 2026 Regulations. 4Contd on | nation 4See also | nation, edit trade deal. “Again, they should do what’s best for themselves, but I will tell you I find the Europeans very disappointing because the Europeans are on the front line of the Ukraine-Russia war,” US Treasury Secretary Scott Bessent said in an inter- view with CNBC’s ‘Squawk on the Street’ on Wednesday. Bessent was responding to a question on the “massive” trade deal between Europe and India and whether that threatens America, given that the countries are moving ahead with free trade without MINIMUM WAGES FOR DOMESTIC WORKERS Not a fundamental right: Apex court FPJ News Service NEW DELHI The SC on Thursday declined to entertain a petition seeking a declaration that domestic workers have a fundamental right to be paid minimum wages, expressing concern that such a move could have unintended consequences, including widespread litigation against households and reluctance to employ domestic help. A Bench of CJI Surya Kant and Justice Joymalya Bagchi held that issues relating to fixation and implementation of minimum wages for domestic workers are best left to the state governments concerned. 4Contd on | nation ‘Trade unions halting growth’ Chief Justice of India Surya Kant on Thursday asked: "How many industrial units in the country have been closed thanks to trade unions? Let us know the realities. All traditional industries in the country, all because of these jhanda unions have been closed, all throughout the country. They don't want to work. These trade union leaders, they are largely responsible for stopping industrial growth in the country.” CONTD ON NATION Washington. “...India started buying sanctioned Russian oil, and guess who was buying the refined products? The Europeans. So, the Europeans have been funding the war against themselves and like something that you couldn't have made up.” 4Contd on | nation On same page: Tharoor meets Rahul, Kharge Gaurav Vivek Bhatnagar NEW DELHI Kerala MP Shashi Tharoor, whose future in Congress has recently been the subject of speculation, met LoP Rahul Gandhi and party chief Mallikarjun Kharge on Thursday and said “we are all on the same page”. The nearly hour-long meeting held in Kharge’s chamber in the Parliament complex was also attended by Congress general secretary (organisation) KC Venugopal. Before the huddle, Tharoor said there was “nothing unusual” about meeting his own party leaders. “I am going to attend Parliament right now. When it happens, I will let you know,” he said. 4Contd on | nation Kala Ghoda Arts Festival starts tomorrow Aanchal Chaudhary MUMBAI Mumbai's iconic Kala Ghoda Arts Festival (KGAF) returns Saturday with the promise to reclaim the streets of South Mumbai with vibrance, colour, creativity and collective celebration. For nine days, festivities will flood the streets of SoBo, with performing arts coming out of traditional theatres and into city spaces. You'll spot installations adorning metro stations, artists taking over public spaces, conversations and literary discussions echoing through the city's historic spots, It’s time to strap on your sneakers and enjoy this cultural extravaganza that is a highlight of Mumbai’s winter calendar the cheer of the audience post an enthralling theatre and dance performance coming alive across different venues, lively food scenes and workshops that reflect Mumbai's cosmopolitan culture, reminding the city why KGAF remains one of its most loved cultural traditions. When, where is the Festival? KGAF will take place from January 31 to February 8, running daily from 10 am to 10 pm. The festival unfolds across Mumbai’s heritagerich Kala Ghoda precinct, with venues including K Dubash Marg, CSMVS Museum, Cross Maidan, David Sassoon Library, Horniman Circle Garden, and over 25 indoor and outdoor locations in the neighbourhood. True to its spirit, all programmes remain free and open to the public. However, one needs to register free of cost on booking platform District. 4See also | city Prime Minister Narendra Modi on Thursday said the Free Trade Agreement (FTA) with EU has opened a vast market for Indian goods and created major opportunities for India’s youth, farmers, manufacturers and service sector professionals. He urged industry leaders to focus on quality and capacity enhancement to fully benefit from the deal. Addressing the media in the Parliament complex ahead of the start of the Budget Session, he said FTA marked a bright beginning to the quarter and offered a glimpse of the promise of the coming century. 4Contd on | nation Varad Bhatkhande PUNE Baramati stood still on Thursday. In the town where his politics was forged and where his power endured for decades, Maharashtra bade farewell to Ajit Anantrao Pawar — its longest non-consecutively serving Deputy Chief Minister — with a farewell that was as massive as it was restrained. Silence hung heavy over the crowds, broken only by slogans that echoed grief, loyalty and disbelief. Ajit Pawar was cremated with full state honours at the Vidya Pratishthan sports ground in Baramati, around 100 km from Pune. The leader affectionately known as “Dada” began his political journey here — and here it came to an abrupt, tragic end. Lakhs gathered from across Maharashtra to accompany him on his final journey. The air resonated with chants of Staring at void, NCP turns to Sunetra Pawar Kalpesh Mhamunkar MUMBAI “Ajit Dada Parat Ya” and “Ajit Pawar Amar Rahe”, expressions of collective mourning that rose intermittently from an otherwise disciplined crowd. Estimates put the turnout at nearly two to three lakh people, including NCP workers, supporters and residents who had watched Pawar dominate the region’s politics for decades. With the sudden demise of Maharashtra Deputy Chief Minister Ajit Pawar, intense political churn has begun within the Nationalist Congress Party (NCP), with his wife Sunetra Pawar emerging as the foremost contender to carry forward his political legacy. Senior party leaders, according to sources, are actively deliberating a roadmap that could see Sunetra Pawar elevated to key positions, including induction into the state cabinet, appointment as NCP president, and a possible contest from the Baramati Assembly seat, where a by-election is due within the next six months. 4See also | city, edit 4Contd on | nation Parallel probe Local body polls put off The Maharashtra government has launched a parallel, state-level probe into the plane crash that killed Ajit Pawar. While AAIB launched an official probe on Wednesday and recovered the flight data recorder, the state has formed a special committee. SEE CITY The State Election Commission has postponed polling and counting for the elections to 12 Zilla Parishads and 125 Panchayat Samitis after Ajit Pawar’s death. Polling, earlier set for February 5, will be held on February 7, while counting will be on Feb 9. SEE CITY EU FTA The author is a senior journalist based in Bengaluru The Economic Survey 2025-26 projects India will achieve 7.4 per cent real GDP growth (after adjusting for inflation) in FY26 and sustain momentum at 6.8-7.2 per cent in FY27, while upgrading the country's potential growth rate from 6.5 per cent to 7.0 per cent — a significant revision that signals confidence in India's structural capacity. Chief Economic Adviser V Anantha Nageswaran, in his preface to the Economic Survey, the Government's annual economic review, declares this upgrade reflects how “sustained domestic reforms and public investment could lift the economy’s underlying growth capacity. That possibility is now being realised.” The survey’s confidence rests on an impressive firsthalf performance: 8 per cent growth in H1 FY26, driven by services (9.3 per cent) and manufacturing (8.4 per cent). State bids adieu to Ajit Pawar