Earlier this month, the Ohio state House passed a bill that would ban abortion with virtually zero exceptions when the fetus develops a heartbeat at about six weeks, which is before many women realize they’re pregnant. And as of last week, Ohio’s state House is considering another bill, HB 565, which would confer personhood upon […]

Detailed pictures of planet glowing through clouds were taken with telescope in Hawaii

Astronomers have captured some of the highest resolution images of Jupiter ever obtained from the ground using a technique known as “lucky imaging”.

The observations, from the Gemini North telescope on Hawaii’s dormant volcano Mauna Kea, reveal lightning strikes and storm systems forming around deep clouds of water ice and liquid. The images show the warm, deep layers of the planet’s atmosphere glowing through gaps in thick cloud cover in a “jack-o-lantern”-like effect.

The coronavirus pandemic is making life feel slower than ever, but observing timescales across the universe can bring us some comfort, writes Chanda Prescod-Weinstein

Brazil could face "economic collapse" in a month's time due to stay-at-home measures to stem the coronavirus outbreak, with food shortages and "social disorder," Economy Minister Paulo Guedes warned Thursday. Brazil, Latin America's biggest economy, is also the epicenter of the coronavirus pandemic in the region. But far-right President Jair Bolsonaro - who appeared alongside Guedes, his free-market economics guru - opposes stay-at-home measures to slow the virus, saying they are unnecessarily damaging the economy. "Within about 30 days, there may start to be shortages on (store) shelves and production may become disorganized, leading to a system of economic collapse, of social disorder," Guedes said. "This is a serious alert." Bolsonaro, who has compared the new coronavirus to a "little flu," said he understood "the virus problem" and believed that "we must save lives." "But there is a problem that's worrying us more and more... and that's the issue of jobs, of the stalled economy," Bolsonaro added. "Fighting the virus shouldn't do more damage than the virus itself."

In China, the live-streaming industry has become an important platform for economic recovery.

Chancellor Rishi Sunak has told reporters that Covid-19 will cause "hardship ahead".

The chancellor says there have already been "tough times" as the coronavirus outbreak has an impact on the UK and warns "there will be more to come".

Representational picture

London: While scientists agree that the Sun will die in approximately 10 billion years, they were not sure what would happen next, until now. A new study now says that it will turn into a massive ring of bright, interstellar gas and dust, known as a planetary nebula.

"This is a nice result... We even have found out what the Sun will do when it dies!" said one of the researchers Albert Zijlstra, Professor at the University of Manchester in Britain.

A planetary nebula marks the end of 90 per cent of all stars active lives and traces the star's transition from a red giant to a degenerate white dwarf.

But, for years, scientists were not sure if the Sun in our galaxy would follow the same fate as it was thought to have too low a mass to create a visible planetary nebula.

To find out, the team developed a new stellar, data-model that predicts the lifecycle of stars.

The model, detailed in the journal Nature Astronomy, was used to predict the brightness (or luminosity) of the ejected envelope, for stars of different masses and ages.

"When a star dies it ejects a mass of gas and dust - known as its envelope - into space. The envelope can be as much as half the star's mass. This reveals the star's core, which by this point in the star's life is running out of fuel, eventually turning off before finally dying," Zijslra explained.

The new models show that after the ejection of the envelope, the stars heat up three times faster than found in older models.

This makes it much easier for a low mass star, such as the Sun, to form a bright planetary nebula. The team found that in the new models, the Sun is almost exactly the lowest mass star that still produces a visible, though faint, planetary nebula.

"It is only then the hot core makes the ejected envelope shine brightly for around 10,000 years - a brief period in astronomy. This is what makes the planetary nebula visible," Zijslra said.

"Some are so bright that they can be seen from extremely large distances measuring tens of millions of light years, where the star itself would have been much too faint to see," Zijslra added.

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Stretching from the imposing skyrises of Colaba and Malabar Hill to the fishermen's colonies in Worli, the prestigious VVIP Mumbai South Lok Sabha constituency is the richest in the country making it a high-stakes affair for the two main contestants - Shiv Sena sitting MP Arvind G. Sawant and rival Milind M. Deora of the Congress.

Despite being wealthy, the constituency is barely 'generous' in exercising its franchise - it was way back in 1967, when George Fernandes won on a single point agenda of providing sufficient water supply to all, that 67.42 per cent electorate voted.

Again in 1991, the voting percentage plummeted to an abysmal 38.65, giving credence to the belief that people in high-rises remain indifferent to the political process. But in 2014 the percentage went up to a modest 52.48.

The population of Mumbai South is approximately 20 lakh and the voter strength is 14,85,846 including 15 per cent of some of the country's richest, a large 70 per cent dollop of middle-class and a sprinkling of 15 per cent eking out an existence in slums in what is one of the few fully urbanized constituencies of India.

Unconcerned by the turnout figures, Shiv Sena's Sawant exudes is optimistic of winning again.

"I am the voice of the masses and the classes. I have been present whenever and wherever I was needed in the past five years," Sawant told IANS.

On his rival Deora, he shot back: "Where was he for the past four years and nine months? This is what commoners and business community ask me. It is my work for all sections and my contacts with the masses that will decide the election."

Though incommunicado despite repeated attempts by IANS, the former Union Minister Deora has remained unflustered by the opposition barbs.

After all, in a political-corporate coup of sorts, last fortnight, he secured the open support of key players from India Inc, sending panic waves in the ruling Bharatiya Janata Party-Sena combine.

Ranked as one of the most cosmopolitan constituencies, Mumbai South is beset with many problems that have remained unresolved over the years.

"There are hundreds of old buildings, ancient sewage lines, house gullies, traffic congestion and slum pockets in Darukhana, BPT, Colaba and Worli which are of great concern," Waris Pathan, All India Majlis-e-Ittehadul Muslimeen's sole Mumbai MLA, told IANS.

Though there is the ambitious Coastal Road project coming up, Patyan says "a lot will depend on its implementation, or it will be disastrous for the entire city".

Besides, there is the gnawing problem of security in the region which has witnessed two of the worst terror strikes in the country - the 1993 serial bomb blasts and the 2008 terror strikes.

Not surprising, since this constituency is home to the country's most affluent business districts which contribute hugely to the national exchequer, some of the poshest residential complexes, Indian and foreign banks, and national and international firms are headquartered here.

There are also offices of global corporates, airlines, embassies, luxury hotels, swanky restaurants and pubs, global tourist attractions, open shopping plazas, malls and multiplexes, reputed schools, colleges, an array of heritage buildings, the official residences of Maharashtra Governor, Chief Minister, the Chief Justice of Bombay High Court and other judges, the Legislature and the Mantralaya.

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Maharashtra Chief Minister Uddhav Thackeray on Wednesday called Prime Minister Narendra Modi about his nomination to the State Legislative Council. According to sources, Thackeray asked for PM Modi's help, saying if it doesn't happen, he will have to resign. The PM said that he would look into the matter and get more details. The Maharashtra Cabinet on April 28 once again asked Governor Bhagat Singh Koshyari to nominate Chief Minister Thackeray to the State Legislative Council.

Earlier on April 9, the state Cabinet had recommended Thackeray's name for one of the two vacant MLC seats that were to be nominated by Koshyari to the Legislative Council to avoid a constitutional crisis. Thackeray was sworn-in as the Maharashtra Chief Minister on November 28, last year. He is currently not a member of either of the House -- Legislative Assembly or Legislative Council.

According to the Constitution, Thackeray has to be elected to either Assembly or Council within six months in order to continue in his post.

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Bollywood star Irrfan was admitted in Mumbai's Kokilaben Dhirubhai Ambani hospital with a colon infection on Tuesday and passed away on Wednesday April 29, 2020 at the age of 53. 

Many stars from the Indian sports fraternity took to social media to pay tribute to the late actor Irrfan Khan. From the likes of Sachin Tendulkar, Virat Kohli and Virender Sehwag, to Saina Nehwal and Sunil Chhetri, here are some of the heartfelt posts shared on Twitter.

"Sad to hear the news of #IrrfanKhan passing away. He was one of my favorites & I've watched almost all his films, the last one being Angrezi Medium. Acting came so effortlessly to him, he was just terrific. May his soul Rest In Peace. Condolences to his loved ones," tweeted cricket legend Sachin Tendulkar.

Sad to hear the news of #IrrfanKhan passing away. He was one of my favorites & I’ve watched almost all his films, the last one being Angrezi Medium. Acting came so effortlessly to him, he was just terrific.
May his soul Rest In Peace. 🙏🏼
Condolences to his loved ones. ☹ï¸Â pic.twitter.com/gaLHCTSbUh

— Sachin Tendulkar (@sachin_rt) April 29, 2020

Indian cricket captain Virat Kohli tweeted: "Saddened to hear about the passing of Irrfan Khan. What a phenomenal talent and dearly touched everyone's heart with his versatility. May god give peace to his soul"

Saddened to hear about the passing of Irrfan Khan. What a phenomenal talent and dearly touched everyone's heart with his versatility. May god give peace to his soul 🙏

— Virat Kohli (@imVkohli) April 29, 2020

"Khan sahab, you were brilliant at what you did and that will always live on. Thank you for bringing your art to us the way you did. Strength to those grieving," said Indian football captain Sunil Chhetri.

Khan sahab, you were brilliant at what you did and that will always live on. Thank you for bringing your art to us the way you did. Strength to those grieving.

— Sunil Chhetri (@chetrisunil11) April 29, 2020

"A great actor and a great talent. Heartfelt Condolences to his family and well - wishers #IrfanKhan," said former India batsman Virender Sehwag.

A great actor and a great talent. Heartfelt
Condolences to his family and well - wishers #IrfanKhan

— Virender Sehwag (@virendersehwag) April 29, 2020

"Saddened to hear the passing away of #IrfanKhan. Condolences to the entire family. An actor of great caliber! You will be cherished by us until eternity. RIP," tweeted fast bowler Mohammed Shami.

Saddened to hear the passing away of #IrfanKhan. Condolences to the entire family. An actor of great caliber! You will be cherished by us until eternity. RIP. pic.twitter.com/wLTWUz8w6Z

— Mohammad Shami (@MdShami11) April 29, 2020

Badminton star Saina Nehwal tweeted a picture of herself and Irrfan. "With the legend during one ad shoot ... great memories sir #RIPIrrfanKhan," she said.

With the legend during one ad shoot ... great memories sir 🙏🙏 #RIPIrrfanKhan pic.twitter.com/GOKyVjqAoR

— Saina Nehwal (@NSaina) April 29, 2020

The actor had been ailing ever since he was diagnosed with neuroendocrine tumour a while back, and has been under medical attention for the same. He even went abroad for treatment.

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Union minister Nitin Gadkari on Sunday said India should look at converting the world's "hatred" for China amid the coronavirus pandemic into an economic opportunity for itself by attracting large-scale foreign investments.

Interacting with overseas Indian students via video conferencing, the minister for MSME and Road Transport and Highways said across the world now, there is "hatred for China. Is it possible for us to convert it into an opportunity for India?" Referring to the economic package announced by Japan for its businesses exiting China, Gadkari said, "I feel that we should think on that and we will concentrate on it. We will open the Indian scenario for that. We will give the clearances and everything to them and attract foreign investment."

Asked if India can take any action against China incase it is found to have deliberately "suppressed" information on coronavirus, the minister said this was a sensitive subject related with the Ministry of External Affairs and the prime minister, and therefore it will not be appropriate for him to comment on it. Gadkari said all government departments, particularly the finance ministry as well as the Reserve Bank of India (RBI), are formulating policies to win the "economic war" post the COVID-19 pandemic and fulfil the prime minister's dream of making India a USD 5 trillion economy. "At the same time, we can make infrastructure of Rs 100 lakh crore," he added.

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Prime Minister Narendra Modi on Monday said the impact of coronavirus will remain visible in the coming months and masks and face covers will be part of life while asserting that the country needs to give importance to the economy as well as continue the fight against COVID -19. The remarks came during his interaction with Chief Ministers via video conferencing to discuss the emerging situation and plan ahead for tackling the COVID-19 pandemic.

"The country has seen two Lockdowns till now, both different in certain aspects, and now we have to think of the way ahead. As per experts, the impact of coronavirus will remain visible in the coming months," Modi said, according to an official release.

COVID-19 impact will remain visible in coming months, need to fight it with impetus on economy: Modi

Read @ANI Story | https://t.co/6eX7vLdAgn pic.twitter.com/aBYrrrTzQy

— ANI Digital (@ani_digital) April 27, 2020

Reiterating the mantra of 'do gaz doori', he said that "masks and face covers will become part of our lives in the days ahead". "We have to give importance to the economy as well as continue the fight against COVID -19," Modi said. The Prime Minister underlined that the lockdown has yielded positive results as the country has managed to save thousands of lives in the past one and a half months.

"India's population is comparable to that of the combined population of several countries. The situation in many countries, including India, was almost similar at the start of March. However, due to timely measures, India has been able to protect many people," he said.

Prime Minister Modi, however, forewarned that the danger of the virus is far from over and constant vigilance is of paramount importance. "Prime Minister Modi added that under the circumstances, everyone's aim must be rapid response. He pointed out that many people are self-declaring whether they have cough and cold or symptoms, and that this is a welcome sign," the release said.

Prime Minister said that we have to give importance to the economy as well as continue the fight against COVID -19. He emphasized on the importance of usage of technology as much as possible and also to utilize time to embrace reform measures: PMO on PM's meeting with CMs pic.twitter.com/cjk9KaY6IQ

— ANI (@ANI) April 27, 2020

The Prime Minister emphasised on the importance of usage of technology as much as possible and also to utilize time to embrace reform measures and on the significance of ensuring that more people download the AarogyaSetu app to bolster the efforts of the country in the battle against COVID-19.

"We have to be brave and bring in reforms that touch the lives of common citizens. People associated with Universities can be integrated on devising ways to fight the pandemic and strengthen research as well as innovation," he said. He also highlighted the importance for states to enforce guidelines strictly in the hotspots i.e. the red zone areas. "The efforts of the states should be directed towards converting the red zones into orange and thereafter to green zones," he said.

On the issue of getting back Indians who are overseas, the Prime Minister said that this has to be done keeping in mind the fact that they don't get inconvenienced and their families are not under any risk. He also urged Chief Ministers to factor in the changes in weather - advent of summer and monsoon - and the illnesses that can potentially come in this season, while strategizing ahead. Union Home Minister Amit Shah reaffirmed the need to enforce lockdown so that maximum lives are saved.

"The Chief Ministers praised the leadership of the Prime Minister during this period of crisis, and also highlighted the efforts undertaken by them in containing the virus. They spoke about the need to keep a close vigil on international borders, and also on addressing the economic challenge and ways to further boost health infrastructure. The leaders expressed gratitude towards the police force and medical staff for the exemplary work done by them in the fight against COVID-19," read the release.

Impact of Coronavirus will remain visible in the coming months, masks & face covers will be part of our life: PM Narendra Modi in his video conference meeting with Chief Ministers pic.twitter.com/aEhVdXnuBx

— ANI (@ANI) April 27, 2020

This was the fourth such interaction of the Prime Minister with the Chief Ministers, the earlier ones had been held on March 20, April 2, and April 11. Today's meeting comes just a week ahead of the scheduled ending of the nationwide lockdown. On March 24, the Prime Minister had announced a 21-day lockdown as a precautionary measure to contain the spread of COVID-19. The lockdown was later extended till May 3.

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As India enters the final week of the lockdown, Prime Minister Narendra Modi on Monday conveyed to chief ministers that the country will have to give importance to the economy as well as continue the fight against the Novel Coronavirus.

In a video-conference with the chief ministers, fourth such interaction since March 22 when he first spoke to them on the pandemic, Modi also highlighted the importance for states to enforce prescribed guidelines strictly in the Coronavirus hotspots, the government said in a statement.

The PM underlined that the nationwide lockdown has "yielded positive results as the country has managed to save thousands of lives in the past one-and-a-half months", it said. "The PM said that the country has seen two lockdowns till now, both different in certain aspects, and now we have to think of the way ahead. He said that as per experts, the impact of Coronavirus will remain visible in the coming months," the statement added.

Modi also said that masks and face covers will become part of lives of people in the days ahead, adding everyone's aim must be to ensure rapid response under the current circumstances. He emphasised on the importance of the use of technology as much as possible. "The situation in many countries, including India, was almost similar at the start of March. However, due to timely measures, India has been able to protect many people," the statement said quoting the Prime Minister.

CRPF reaches out to cops over jawan's arrest

The CRPF has taken up with the Karnataka Police the "unpleasant" case of alleged manhandling and handcuffing of its CoBRA commando by cops and has sent a team to follow-up on the matter, officials said on Monday. The CoBRA unit of the CRPF specialises in guerrilla tactics and jungle warfare. The force has written a letter to Karnataka Director General of Police (DGP), Praveen Sood stating that the "unpleasant situation could have been avoided had the state police taken the CRPF hierarchy into confidence before making the arrest" of the jawan on April 23 in Belagavi district.

As govts decide on next plan of action...

. SC rejects petition: The SC on Monday declined to entertain a petition seeking direction to the Centre to conduct en masse door-to-door testing for COVID-19 and challenging the validity of PM CARES fund, and termed it having "political colour."

. Kanpur a Corona hotspot: With 33 more Corona positive cases emerging in the past 24 hours, Kanpur is now a major COVID-19 hotspot in UP after Agra. The tally of Corona positive cases in Kanpur is now 185 and the city has 25 hotspots.

.Lockdown extension: Odisha Health Minister, Naba Kishore Das on Monday said that the COVID-19 lockdown should be extended for another month. "There is a need for the extension of lockdown and it should further be extended by one month," said Das after attending the video-conference of Prime Minister, Narendra Modi and chief ministers of all states.

. COVID cess on ultra-rich: Former Karnataka chief minister, H D Kumaraswamy on Monday suggested imposing "COVID cess" on the ultra rich to offset the loss of revenue, as he called for citizen-centric measures and lower the cost of living, to help those affected by the lockdown.

. Relaxations in Meghalaya: The Meghalaya government on Monday relaxed a number of activities including sale of essential goods, courier services for essential goods, e-commerce operations in essential goods and Common Service Centres during the lockdown period.

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Tom Hardys much-anticipated "Venom" sequel has been delayed by eight months amid the ongoing COVID-19 crisis.

The second instalment in the action-fantasy series, directed by Andy Serkis, was slated to release on October 2, 2020.

The sequel, officially titled "Venom: Let There Be Carnage", will instead launch eight months later on June 25, 2021, reports variety.com.

In 2018, "Venom" introduced Hardy as Eddie Brock and Venom. It follows the popular Marvel anti-hero as he transforms from a go-getter journalist to the powerful alien symbiote. The film put the conflict of good versus bad in the centrestage.

Serkis is directing Sony's follow-up to "Venom", which sees Hardy again assume the alien symbiote. The first film became a surprise box office hit, earning $855 million globally. Woody Harrelson, Michelle Williams, Reid Scott and Naomie Harris will also appear in the sequel.

By postponing "Venom" until next year, Sony has reshuffled nearly every movie scheduled to release in 2020. The studio already pushed back many of its major films, including "Morbius" (from July 31, 2020, to March 19, 2021), "Ghostbusters: Afterlife" (from July 10, 2020, to March 5, 2021) and Tom Holland's "Uncharted" (from March 5, 2021, to Oct. 8, 2021).

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Grammy-nominated gospel singer Troy Sneed has died from complications with the coronavirus. He was 52. Sneed's publicist, Bill Carpenter, shared that the singer passed away on Monday at a hospital in Jacksonville, Florida, reports usatoday.com.

Sneed earned a Grammy nomination for his work on the Youth For Christ's 1999 album, "Higher". The singer traveled throughout the US early in his career to sing the gospel with the Georgia Mass Choir. He arranged music on their albums and appeared with the choir in the 1996 film "The Preacher's Wife" starring Whitney Houston and Denzel Washington. He also served as a producer on Youth For Christ's "The Struggle Is Over", which was at No. 1 on Billboard's gospel songs chart in 2006.

As a solo artist, Sneed released seven albums and had several hit songs within the gospel realm including "Work it out" and "My heart says yes". He is also known for the upbeat "Hallelujah".

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By failing to properly take gender interactions into account in research we are limit-ing today's science. EU-funded research is revealing how economic trends affect genders differently, as for example in the COVID-19 crisis. It is also looking at how the interaction between genders impacts macroeconomic trends.

Tennis star Sania Mirza on Thursday became the first Indian player to be nominated for the Fed Cup Asia/Oceania Group I Heart Award. Former world number one and multiple Grand Slam winner, Sania, returned to Fed Cup competition for the first time since 2016 and guided Team India with her stunning performance, recording three doubles wins in the Asia/Oceania Group I tournament earlier this year in March. Her performance, along with another senior compatriot Ankita Raina, proved decisive in India's historic qualification to the Fed Cup Play-offs.

Reflecting on her nomination, Sania said the Fed Cup result at the Asia/Oceania tournament is one of the greatest achievements of her playing career. "Stepping on to the court for the first time in India colours was a moment of pride for me, back in 2003. It has been an eighteen-year long journey since then and I feel extremely proud and privileged to have contributed to the success of Indian tennis. The Fed Cup result at the Asia/Oceania tournament last month is one of the greatest achievements of my playing career. These are the moments an athlete plays for and I am grateful to the Fed Cup Heart Awards selection panel for this recognition" Sania said in a statement.

The Fed Cup Heart Award is an International Tennis Federation (ITF) initiative that was established in 2009 to recognize Fed Cup players. This year, six players have been nominated for the three regional Group I Fed Cup Heart Awards. In Fed Cup Heart Award's 11th edition this year, Priska Madelyn Nugroho of Indonesia is the second player nominated from the Asia/Oceania region. They are joined by Anett Kontaveit (Estonia) and Eleonora Molinaro (Luxembourg) from Europe/Africa; Fernanda Contreras Gomez of Mexico and Paraguay's Veronica Cepede Royg from the Americas, as the remaining four regional Group I nominations.

The winners of the Heart Awards will be determined by online voting by fans which will go live on 1st May and will go on until 8th May.

In 2019, Zarina Diyas from Kazakhstan emerged victorious from Asia/Oceania Group I.

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Mr. Vivek Kaul once again interpret numbers like a politician - Don't see any difference between him and our politicians - be it ministers in govt. or opposition. I think he has forgotten economics in his eagerness to score political brownie points. Recen..

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

On March 17, 2020, the Dutch Ministry of Finance announced that the Government has adopted a package of measures intended to protect the economy from the coronavirus epidemic, including several tax changes.

German Economy Minister Brigitte Zypries has said that Germany's air passenger tax is damaging the country's aviation industry and should be scrapped.

A new study by PwC has concluded that abolishing Germany's flight ticket tax would provide a substantial boost to the German economy.

The average cost of inpatient care was found to be (Dollor) 26 in Burkina Faso and (Dollor) 134 in Cambodia, while the average cost of outpatient care was (Dollor) 13 per episode in Burkina Faso and (Dollor) 23 in Kenya.

China's State Council has announced a cut in value added tax rates as part of a CNY400bn (USD63bn) tax reduction package to stimulate growth.

On October 9, 2019, the British Virgin Islands International Tax Authority has finalized rules governing the application of the territory's new economic substance requirements, which became effective from January 1, 2019.

On January 9, 2019, the United States Internal Revenue Service announced the launch of a new Gig Economy Tax Center, which is intended to help taxpayers meet their tax obligations through more streamlined information.

The UAE has recently passed legislation to introduce new country-by-country reporting requirements and new economic substance requirements.

On January 9, 2019, the United States Internal Revenue Service announced the launch of a new Gig Economy Tax Center, which is intended to help taxpayers meet their tax obligations through more streamlined information.

Each of the Crown Dependencies – Jersey, Guernsey, and the Isle of Man – have tabled legislation that will introduce new substance requirements for tax-resident firms engaged in certain industries from January 1, 2019.

On April 15, 2020, the United States Internal Revenue Service unveiled the "Get My Payment" online tool that will allow taxpayers to receive economic impact payments under the Coronavirus Aid, Relief, and Economic Security Act.

The OECD has published the comments it has received on a proposal for a framework of Model Rules for sharing and gig economy platforms to report the activities of their users, to support tax authorities to ensure the collection of tax.

Dr Claudia W. Sadoff announced as IWMI's next director general.

Recycling waste and delivering a safe nutrient-rich fertilizer for food production

If you’re of a certain age, Ethiopia may still invoke images of its devastating mid-1980s famine that gripped people around the world – including celebrities. But the once impoverished country has redefined itself in just over a generation.

Claudia Sadoff, Director General of IWMI, argues that our efforts to mitigate the impacts of climate change and address food security could be counterproductive if we don’t pay more attention to water and its use.

Claudia Sadoff, Director General of IWMI, argues that our efforts to mitigate the impacts of climate change and address food security could be counterproductive if we don’t pay more attention to water and its use.

Prime Minister Narendra Modi discussed the measures required to address the health and economic impact of the COVID-19 pandemic with his Italian counterpart Giuseppe Conte over a phone call.

The wide boulevards and parks of many famous international tourist cities were originally created as "lungs" for the urban environments and its people, creating thoroughfares of fresh air to fight disease. The famous grid systems upon which many Nor...

Noting that India has great potential to become the most digitized economy globally in mere seven years, Microsoft founder Bill Gates has dubbed the government's demonetization measure as a "bold move".

Más de la mitad de la población adulta en España padece sobrepeso, lo que tiene unos efectos importantes. Los españoles viven en promedio 2,6 años menos debido al sobrepeso. Las repercusiones sobre la economía son destacables: el sobrepeso representa el 9,7 % del gasto en salud; y reduce la producción del mercado de trabajo en una cuantía equivalente a 479 000 trabajadores a tiempo completo por año.

This note is taken from Chapter 2 of Economic Policy Reforms: Going for Growth 2011.

Switzerland has made a broadly balanced recovery from the economic crisis, but slower activity in Europe and pressures on the Swiss franc weigh on the near-term outlook, according to the latest Economic Survey of Switzerland.

This note is taken from Chapter 2 of Economic Policy Reforms: Going for Growth 2012.

The secretary-General attended the World Economic Forum 2014 Davos where he delivered remarks in different sessions and held bilateral meetings with officials from several countries attending the Forum.