Bank of Baroda economist Jahnavi Prabhakar highlighted that the new series adjustments pose minimal long-term risk to the fiscal deficit. ‘We’re holding our FY27 growth estimate at 7-7.5 percent,’ she affirmed, underscoring confidence in sustained momentum.

Manufacturing stands out as the star performer, with double-digit 11.5 percent growth (previously 9.3 percent) expected, building on three years of steady gains. This industrial strength is complemented by vibrant activity in trade, hospitality, and tourism, forecasted at 10.1 percent—well above last year’s 6.6 percent.

On the nominal front, export growth is revised upward to 9.6 percent from 8.3 percent, paired with stable 8.9 percent expansion in PFCE. GST reforms have ignited consumption, especially urban demand, injecting fresh vitality into the economy.

Yet, tariff uncertainties, notably from U.S. policy shifts, cast a shadow. Counterbalancing this, prospective trade pacts with other countries offer reassurance.

Q3 FY26 data under the new series shows GVA up 7.8 percent versus 7.4 percent in the prior year, powered by services (trade/hotels at 11 percent from 6.7 percent) and manufacturing. The rebasing effect on fiscal metrics is expected to be negligible, allowing focus on growth drivers.

As global challenges persist, India’s diversified sectoral strengths position it for robust FY26 performance, with Q4 poised to deliver the knockout punch.

Bank of Baroda’s whistleblower complaint triggered the FIR, detailing how RCom promoters, led by Anil Ambani, allegedly manipulated funds exceeding Rs 2,220 crore. Charges under criminal breach of trust, forgery, and anti-corruption laws highlight a scheme where borrowed money was routed to connected entities via fictitious transactions. Auditors and bank officials stand accused of complicity in hiding the rot through falsified records.

The saga traces back to 2017 when the loan turned NPA. Ambani’s legal intervention secured a court stay against fraud classification, but the Bombay High Court revoked it last week, unleashing the CBI hounds. Search teams combed through files, computers, and records, unearthing evidence that could redefine corporate accountability.

Separate from the prior SBI-led consortium case, this BoB loan originated from a trio of lenders, two of which have since merged. RCom’s financial house of cards has long teetered, with repeated restructurings failing to stem losses. Today’s developments signal regulators’ zero-tolerance stance on willful defaulters.

Industry watchers note this as a pivotal moment for public sector banks recovering NPAs. As probes deepen, expect ripples across telecom and finance sectors. Anil Ambani, whose Reliance empire once symbolized Indian ambition, now navigates a maze of probes that threaten his reputation and remaining assets. The full story is yet to unfold.

Specifications of the iPhone 17 Pro include:

* **Display:** A 6.3-inch Super Retina XDR display.
* **Chipset:** A19 Bionic processor for speed and multitasking.
* **Camera Setup:** A 48MP triple rear camera setup and an 18MP selfie camera sensor.