The government is focussing on four “I”s infrastructure, investment, innovation and inclusivity to realise the goal set for 2047

"The government has come up with Open Network for Digital Commerce (ONDC), an open network for digital commerce that is helping even the bigger e-commerce businesses," said Union Finance Minister Nirmala Sitharaman.

Finance Minister Nirmala Sitharaman is set to meet with state counterparts on December 21-22 for pre-budget discussions and a GST Council meeting. Key agenda items include potential GST exemptions for certain insurance policies and rate reductions on various goods. The Council may also consider raising GST on luxury items like high-value shoes and watches.

Concerningly for South Africa, the question of whether our laws and regulations provide sanctions and penalties that are commensurate to the harm caused by white-collar criminals remains a matter of contested viewpoints, writes Khaya Sithole.

SAA now remains firmly in state hands - a state that it insists it can no longer provide the type of capital support it desperately needs. Who should feel vindicated? asks Khaya Sithole.

In the latest Auditor-General report, what stands out is persistent underperformance and the level of desperation in local governments. Reliance on consultants who don't solve the underlying problem is no longer sustainable, says Khaya Sithole.

“The government under the leadership of Prime Minister Narendra Modi is addressing systematic inequalities, which have plagued the society,” Finance Minister Nirmala Sitharaman said.

Clerks III director Kevin Smith knows a lot about a lot of things, but he really knows a lot about Star Wars. So, who better to have tell us everything we need to know about the Jedi and Sith that appear in the Star Wars movies? Watch as Kevin talks in detail about Luke Skywalker, Darth Vader, Ahsoka Tano, (Sith Lord?) Jar Jar Binks and much more! CLERKS III will be released exclusively in theaters on September 13th-18th by Lionsgate in partnership with Fathom Events. Kevin will also continue on his “Convenience Tour” roadshow though November with more information about tickets here - https://clerks3.movie Director: Alexandra Coccia Director of Photography: Matt Krueger Editor: Patrick Biesemans Talent: Kevin Smith Line Producer: Joseph Buscemi Associate Producers: Melissa Cho, Samantha Velez Production Managers: Peter Brunette, Andressa Pelachi Production Coordinator: Carol Wachockier Audio: Kara Johnson Cam Op/Gaffer: Shay Eberle-Gunst Production Assistant: Ariel Labasan Post Production Supervisor: Alexa Deutsch Post Production Coordinator: Ian Bryant Supervising Editor: Doug Larsen Assistant Editor: Paul Tael Clerks III is out in theaters on September 13, for two nights only. Director: Alexandra Coccia Director of Photography: Matt Krueger Editor: Patrick Biesemans Talent: Kevin Smith Line Producer: Joseph Buscemi Associate Producers: Melissa Cho, Samantha Velez Production Managers: Peter Brunette, Andressa Pelachi Production Coordinator: Carol Wachockier Audio: Kara Johnson Cam Op/Gaffer: Shay Eberle-Gunst Production Assistant: Ariel Labasan Post Production Supervisor: Alexa Deutsch Post Production Coordinator: Ian Bryant Supervising Editor: Doug Larsen Assistant Editor: Diego Rentsch

BJP’s third term pledges support for space, AI and warehousing; Next-generation reforms agenda to touch all factors of production including digital infrastructure

The Bill seeks to give customers an option to increase the number of nominees per bank account to four, from existing one, among others

At a Centre for Global Development event, Sitharaman highlighted India’s use of foreign reserves to aid distressed nations without conditions.

The meeting assumes significance as State Finance Ministers will present their recommendations for the 2025-26 Budget to be unveiled on February 1, 2025

Addressing the 3rd edition of Kautiliya Economic Conclave here, the Minister said, India's critical economic performance in the recent decade was underscored by its leapfrog from the 10th to the fifth largest economy in five years.

Nirmala Sitharaman said that India is looking towards boosting domestic capacities, and building resilience against external shocks

Nirmala Sitharaman highlighted that providing free digital access to the public, coupled with extensive campaigns and awareness programs in local languages, helped people across the country embrace technology

Billionaire Gautam Adani on Tuesday did an hour-long session of yoga exercises in the open air as he led corporate India to join the International Day of Yoga celebrations.Several public and private sector companies held yoga sessions at their offices to promote the adoption of exercise in daily routines to stay fit and healthy.Adani, chairman of logistics-to-energy conglomerate Adani Group, and his wife Priti, who heads the Adani Foundation, "participated with more than 1,000 members of the Adani Parivaar team to celebrate health, mindfulness and meditation," the group said in a statement.The session was held at a football ground at Adani Shantigram in Ahmedabad.Several other business leaders tweeted pictures of their yoga sessions.

Nirmala Sitharaman’s office on Thursday had tweeted that PSBs sanctioned loans worth Rs 5.66 lakh crore for over 41.81 lakh accounts in MSME, retail, agriculture and corporate sectors during March-April 2020.

The meeting, to be held via video-conferencing, will also take stock of interest rate transmission to borrowers by banks and progress on moratorium on loan repayments, sources said.

Finance Minister Nirmala Sitharaman will hold a review meeting with CEOs of public sector banks (PSBs) on Monday to discuss various issues, including credit offtake, as part of efforts to prop up the economy hit by the COVID-19 crisis. The meeting, to be held via video-conferencing, will also take stock of interest rate transmission to borrowers by banks and progress on moratorium on loan repayments, sources said. The RBI had on March 27 slashed the benchmark interest rate by a massive 75 basis points and also announced a three-month moratorium to be given by banks to provide relief to borrowers whose income has been hit due to the lockdown. Earlier this month, RBI Governor Shaktikanta Das held a meeting with heads of both public and private sector banks to take stock of the economic situation

New Delhi, May 10: Finance Minister Nirmala Sitharaman will hold a review meeting with CEOs of public sector banks (PSBs) on Monday to discuss various issues, including credit offtake, as part of efforts to prop up the economy hit by

Under the PM-KISAN (Pradhan Mantri Kisan Samman Nidhi) scheme, each farmer gets Rs 6,000 in a year in three equal installments directly in bank account

Even before the release of the last movie in the series, ArmoryShop is ready to offer the Sith Trooper Armor to the avid fans.

The 9th episode of the Star Wars series is going to be released on the 19th of December and will introduce new antagonists called the Sith Troopers. ArmoryShop is ready to dispatch the initial orders of the costume along with the latest props.

Govt has decided to tax only the income generated by NRIs from the biz in India, leaving their global incomes.

Fight against Covid-19: FM Sitharaman announces Rs 1.7 lakh crore 'PM Gareeb Kalyan Scheme'

INR-USD future contracts will be available for 22 hours across all time zones for all global participants from GIFT IFSC.

The minister emphasized that special focus towards export enhancement is the need of the hour. He highlighted the need to focus on import substitution to replace imports with domestic production.

Prime Minister Narendra Modi held a crucial meeting with home minister Amit Shah and finance minister Nirmala Sitharaman to firm up strategies for the financial sector in the aftermath of the Covid-19 outbreak.

The meeting, to be held via video conference, will also dwell on credit disbursement since March, with the focus on Covid-19-related credit sanction and offtake.

On the 13th anniversary of the VIVO IPL, Mumbai Indians’ lethal strike weapon Lasith Malinga was declared the Greatest of All Time (G.O.A.T) among bowlers in the storied history of the tournament by an esteemed jury by Star Sports on their flagship show Cricket Connected. The Sri Lankan veteran, part of an elite 10-bowler nominee list, pipped the likes of Dale Steyn, Ashish Nehra, Sunil Narine and Jasprit Bumrah for the award.

The highest wicket-taker in the tournament with 170 wickets in 122 matches, ‘Slinga Malinga’ has been one of those legends who changed the perception of T20 cricket and became one of the early heroes in a batsman-dominated format. Despite overcoming a string of fitness issues, Malinga has been able to deliver pinpoint toe-crushers coupled with skillful variations over the last 12 years of the VIVO IPL that made him one of the most threatening bowlers to face at any stage of the game, and the unanimous choice for the GOAT bowler. In fact, it was Malinga’s last over that gave Mumbai Indians their fourth title with a one-run, last-ball win in 2019.

Former England captain and Star Sports expert Kevin Pietersen, part of the jury, backed his decision to choose Malinga for the coveted award said on Cricket Connected, “I’m going with Lasith. You look at the numbers he has served up and the way he has consistently used that yorker, that makes everyone talk about it. Malinga is my guy. I would go with Narine, but he has bowled on wickets which helped turn. Also, he has been questioned on a few occasions for this suspect bowling action, so I am afraid to say that I am going with Malinga,”.

In addition, Malinga, the first Sri Lankan to claim four wickets in four deliveries, went past Bhuvneshwar Kumar, Ashish Nehra, Ravichandran Ashwin, Amit Mishra, Imran Tahir and Yuzvendra Chahal, who were also part of the nominee list.

Besides winning Pietersen’s vote, Malinga also found favour among Star Sports experts Dean Jones, Mathew Hayden, Aakash Chopra, Graeme Smith, Simon Doull, Ian Bishop and Tom Moody, who all voted for the Sri Lankan as their first choice for GOAT – bowler.

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A former defense and trade minister, Nirmala Sitharaman became the first woman finance minister of India after Indira Gandhi.

She has inherited an economy facing a number of risks.

She faces immense challenges as finance minister. India's economy is starting to splutter on the back of a slow-down in consumption and private investment.

Fixing this and jump-starting the economy are the first order of business.

The data released on Friday was disappointing at different levels.

Lower growth in GDP, stagnant growth in core sector in April 2019, and the government just about managing the 3.4% deficit number in FY19 pose puzzles for the new Cabinet which assumes responsibility of kick-starting the economy.

A look at key macroeconomic indicators presents a gloomy picture.

Sinking GDP Growth Means FM Nirmala Sitharaman has to Push for Sweeping Reforms

According to the data released by the Central Statistics Office on Friday, gross domestic product (GDP) grew by only 5.8% in the last quarter of financial year 2019 (FY19), between January and March.

GDP Growth Slips to 5-Year Low

The data demonstrates GDP growth slowing steadily, from 8 to 7 to 6.6% in the first three quarters of FY19.

The signs of slowdown are visible throughout the economy.

Growth of Core Sector Industries Remained Flat

India's core economy grew at 4.3% in FY19, its second slowest pace in the past 5 years, down from 4.9% in FY15, according to latest data by the ministry of commerce and industry.

The 8 core industries include Coal, Crude Oil, Natural Gas, Refinery, Fertilisers, Steel, Cement, and Electricity.

8 Core Sectors Report Flat Growth in FY19

The growth rate is also flat since fiscal FY18 which had also recorded a 4.3% growth.

Manufacturing and Services Sector Activity Decelerates

Core sector growth will have a direct impact on the Index of Industrial Production (IIP) as these sectors account for a major chunk of total factory output.

Worries Rise as Factory Output Shrinks in March

The Index of Industrial Production (IIP) and the Manufacturing Purchasing Managers' Index (PMI) are used to gauge the level of activity in the manufacturing sector.

What Does the PMI Say?

The country's manufacturing sector performance fell to an eight-month low in April as new business growth moderated, curbed by the elections and a challenging economic environment.

The Nikkei India Manufacturing Purchasing Managers' Index declined from 52.6 in March to 51.8 in April, reflecting weakest improvement in business conditions since August 2018.

However, this was the 21st consecutive month that the manufacturing PMI remained above the 50-point mark.

In PMI parlance, a number above 50 means expansion, while a score below that denotes contraction.

The April PMI data indicated a softer increase in new orders had restricted growth of output, employment, and business sentiment.

Further, the Indian service sector lost momentum in April, with rates of new business and output growth both cooling to seven-month lows.

Indian Service Sector Loses Momentum Too

Falling from 52.0 in March to 51.0 at the start of FY19, the seasonally adjusted Nikkei India Services Business Activity Index pointed to the weakest upturn in output since last September.

Besides these, there are many other indicators of a slowdown.

A decline in consumer demand, a slowdown in government spending, and weak private investment have likely impacted India's growth in the fourth quarter.

One such high frequency indicator is automobile sales.

What do these numbers indicate?

Vehicle sales are a very important economic indicator about how the people of India feel about their economic prospects.

After all, no one is forcing anyone to buy a car and given that if a consumer buys a car, he chooses to make a down payment and/or take on an EMI.

This is only possible if the consumer is feeling positive about his future economic prospects.

Automobile Sales Skid as Demand Remains Sluggish

On Saturday, India's largest carmaker, Maruti Suzuki, reported a 22% decline in sales in May, the lowest in seven years.

Other auto-makers such as Tata Motors, Eicher Motors, and Hero Moto Corp reported declines in sales too.

All these economic indicators basically provide evidence of the Indian economy slowing down further since January 2019.

Another major area that needs immediate attention by the government, is job creation.

According to a CMIE survey, the unemployment number stands at 41 million people. That is too big a number to be ignored.

Now, job creation at such a mass level won't be a walk in the park. To set the wheels in motion, the government will have to look at infrastructure spending.

Capacity expansion in new projects has seen a gradual slowdown in the past few years.

Infra Capacity Expansion Likely to Be the Key Focus of the Modi Government

From Rs 3.3 trillion in June 2018, the number has come down sharply to Rs 2.1 trillion as of March 2019.

Co-head of research, Tanushree Banerjee believes this is first area the government will look to focus on.

Apart from creating jobs in the infrastructure sector, it opens a lot of other avenues.

Here's an excerpt of what she wrote in The 5Minute WrapUp:

• Better infrastructure will mean better connectivity to non-metros. This will attract manufacturing companies to set shop in these towns. It will give a boost to the urbanisation of the population.
  
  This is a trend I see clearly playing out in the coming years.
  
  Infrastructure spending -> Improved roads -> Increased two-wheeler sales.
  
  It is just one of the 50 irreversible trends I believe will carry the Sensex to 1,00,000.

Typically, when the capacity utilisation rises, it prompts companies to expand their capacities. If this gradual pick-up sustains, it could lead to a pick-up in private sector investment.

Thus, a revival in the investment cycle could be underway despite the current economic slowdown.

And, as far as equity markets are concerned, participants were expecting a weak fourth quarter growth data.

As such, the now published data may not weigh on the market but will raise expectations from the government and the RBI.

The pressure points in the form of finance, tax rates, infra expenditure, specific sector-related policies etc, must be addressed.

While the weak GDP data will be an important input for the Union Budget.

Most investors are now keen to know what's in store in the first week of July.

Warm regards,
Rini Mehta

The FM also said that about three crore farmers with agricultural loans totaling Rs 4,22,113 crore availed the benefit of the 3-month loan moratorium announced by the Reserve Bank of India (RBI) in March

The talented twosome's top secret project will be set on the Sith planet Exegol, but it's unclear if it's destined for the big screen or for streaming on Disney+

FM Nirmala Sitharaman chairs 39th GST Council meeting

GST rate on MRO services of aircraft reduced from 18% to 5%: FM Nirmala Sitharaman

Single 12% GST for both hand-made and machine-made matchsticks: FM Nirmala Sitharaman

She further said that state-owned banks implemented the moratorium announced by the RBI on repayment of loans.

Rahul Gandhi had attacked the ruling BJP after the Reserve Bank of India (RBI) released a list of 50 wilful defaulters accused of cheating banks.

he noted that these borrowers hail from a variety of sectors like micro, small and medium enterprises (MSMEs), retail, agriculture and corporate, waiting for disbursal soon after the lockdown is lifted.