| Good morning, Donald Trump does it again—claiming credit for halting the escalating India-Pakistan conflict. Speaking at the Oval Office and in Pittsburgh later on the same day, the US President reiterated that his administration brokered the ceasefire (on May 10) to stop the hostilities that “could have turned out into a nuclear disaster”. Meanwhile, New Delhi remains firm on its stance that “No third party was involved” since the beginning. 🚨 Big Story “I am glad… India’s industry, the manufacturing activity, have all been so good during Q4.” On Friday, the Government released two data sets on the provisional estimates of India’s economic growth in the fourth quarter (Q4, January to March), and for the financial year (2024-25 or FY25). Based on this, Union Finance Minister Nirmala Sitharaman said India has sustained the fastest-growing economy tag for the fourth year now, thanks to firm industrial growth in manufacturing. The data: India’s real Gross Domestic Product (GDP) gained strength, picking up pace to 7.4 per cent in the fourth quarter. The full-year growth rate, however, is estimated to have slowed to a four-year low of 6.5 per cent for financial year 2024-25. This has stayed resilient, remaining at the same level as the second advance estimate of 6.5% released February-end. What the data show: Now, GDP is calculated by adding up all the expenditures made in the economy. Linked to it, the Gross Value Added (GVA) looks at the supply side capturing the true momentum of the economy. It measures the contribution of each sector and excludes the effects of taxes and subsidies, which can distort GDP figures. For FY 25, the real GVA grew by 6.4 per cent, losing a step over the 8.6 per cent growth in FY24. No sector has recorded growth at a Compound Annual Growth Rate (CAGR) anywhere close to 6 per cent since 2019-20. The manufacturing GVA has registered a slower growth rate (CAGR of 4.04 per cent) than even agriculture and allied activities.This, Udit Misra explains, could help our understanding of the high urban — in particular, youth — unemployment in the country. Why are the estimates “provisional”? They will be revised over the next few years. GDP estimates go through several revisions for any fiscal year. Looking ahead, economists see a slightly slower growth in FY26 amid heightened uncertainty around global trade policies. Boosting manufacturing growth has been a cornerstone for all governments. It is now the new battleground globally with the US, Europe, and China locked in a trade war to protect domestic manufacturing.
⚡ Only in Express Meet the Nightingales: Also on Friday, 15 nurses—auxiliary nurse midwives and women health workers—from across India were conferred the Florence Nightingale Award by President Droupadi Murmu. Of these awardees, four each are from the North-East and union territories, and two from the national capital. Anonna Dutt brings the stories of a trio: Leimapokpam Ranjita Devi, Banu M R and Major-General Sheena P D.
📰 Express Explained - Dismantling Minimum Support Price-based (MSP) procurement operations
- Winding up its state agency equivalent to the Food Corporation of India, and
- Removing tax exemption on agriculture incomes
Pakistan has done that and much more – under pressure from the International Monetary Fund (IMF). This is part of the conditionality linked to an Extended Fund Facility (EFF) loan from the global body. The 37-month EFF was approved in September last year and provides for a total disbursement of $7 billion to Pakistan. Harish Damodaran breaks it down, in contrast with India.
✍️ Express Opinion “Is it not commonplace today to decide who is a Pakistani…? Don’t we witness the othering of communities not just on the basis of religion, but also on the basis of the size of their eyes? So, one “belongs” only on the sufferance of those who claim to own this nation” Columnist Suhas Palshikar’s latest piece, he says, is in response to Yogendra Yadav’s spirited exposition of “Indian” nationalism, in the hope of expanding the scope of the debate. He agrees with Yadav's point that Indian nationalism is under assault today. But highlights that it’s not so much about whether “I/we forgot” it, but that it was stolen.
🍿OTT/Movie Review ‘Karate Kid: Legends’: While there may be no surprises in its story curve, Shalini Langer, in her review, writes the martial arts drama film running in theatres now has the moves. It also lands its karate kid on his feet. Because: “There are few greater pleasures than watching Jackie Chan do his thing. Pair him up with Ralph Macchio, and it could be Karate Kid from 40 years ago all over again.” Until next time Vibha | 
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