Finance and Economy

Sri Lanka is gearing up to apply for $25 million from the United Nations' Fund for Responding to Loss and Damage (FRLD). The application is intended to support recovery efforts.

The tariff reduction, confirmed by US President Donald Trump following talks with Prime Minister Narendra Modi, effectively withdraws additional duties that had pushed levies on some Indian exports as high as 50 per cent.

Anchored in the government’s vision of Sabka Saath, Sabka Vikas, the budget is structured around three overarching “kartavyas” or duties: accelerating economic growth, building people’s capacities, and ensuring inclusive access to resources for all families, communities and regions.

The opposition’s chorus underscores a deepening divide, with calls for parliamentary scrutiny and course correction. As debates unfold, the budget’s fate may hinge on addressing these critiques amid electoral pressures.

The budget aligns with the government’s vision of Sabka Saath, Sabka Vikas, outlining three key “kartavyas” or duties: accelerating economic growth, building people’s capacities through education, skills, and health, and ensuring inclusive access to resources for all.

As India grapples with climate change and food security, Bharat Vistaar represents a forward-thinking step toward resilient farming. By bridging traditional practices with AI, it promises to uplift millions of farmers, fostering economic stability and innovation in the sector.

Specifics on FDI limits in sectors like defence or manufacturing remain broad, with no immediate changes announced. Implementation timelines are unclear, but the government aims to roll out these reforms swiftly to capitalise on global shifts in investment patterns.

The financial turmoil is already rippling through UN agencies, with humanitarian work bearing the brunt. BBC investigations show that agencies rarely receive full funding for crises, but the past year has been exceptionally grim.