Government giving sector-specific solutions to fight slowdown: Nirmala Sitharaman
Mumbai: Union Finance Minister Nirmala Sitharaman on Thursday said the government is giving sector- specific solutions to fight the slowdown in economic growth. She, however, parried a specific question on whether the government accepts if the country is in the midst of an economic slowdown.
India's GDP expansion has slowed to a six-year low of five per cent for the June quarter. This has led to a rash of downward revisions in expectations, including from the RBI which now expects GDP growth to come down to 6.1 per cent in FY20.
The government has taken a slew of measures, including a massive cut in corporate taxes to revive economic growth, even at the cost of sacrificing revenues.
Hinting at other measures like steps to improve exports, easing credit, making more money available by early repayments to vendors and front-loading of banks recapitalisation, Sitharaman said the government has been working on sector-specific measures.
"We are giving relief to all sectors who need help," Sitharaman said.
Her comments came hours after global ratings agency Moody's Investors Service sharply cut its FY20 GDP growth forecast for India to 5.8 per cent.
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NIA court to complete framing of charges against 2010 hand-chopping case accused on May 15
Kochi (PTI): A special court here will complete proceedings for framing charges against the prime accused in the 2010 hand-chopping case involving professor T J Joseph, in which PFI activists were accused of attacking him at Muvattupuzha.
Ernakulam Special Court for NIA cases judge P K Mohandas, on April 30, heard the arguments of counsel for accused Savad and Shafeer C and decided to proceed with framing charges against the duo.
A group chopped off Thodupuzha Newman College professor Joseph's right hand in July 2010, accusing him of religious blasphemy in a question paper he had prepared.
The case, later taken over by the National Investigation Agency (NIA), resulted in the conviction of 19 accused.
The first accused, Savad, who allegedly chopped off Joseph’s palm, was arrested in Berram in Mattannur, Kannur, in January 2024, where he had allegedly been hiding under the pseudonym Shajahan.
The NIA also arrested Shafeer, who allegedly arranged shelter and provided logistical support to Savad at Chakkad and Mattannur in Kannur since 2020.
On April 30, the court heard the counsel for the accused and the NIA prosecutor on framing charges against the duo.
"On going through the documents and evidence in the case and on hearing the counsel for the accused and the prosecutor, I am of the opinion that there are grounds for presuming that the first accused has committed offences punishable under provisions of the IPC, the Explosive Substances Act and the Unlawful Activities (Prevention) Act, and that the second accused has committed offences punishable under the IPC and the UAPA, and there are materials for framing charges under these provisions against the accused," the court said.
The court directed that Savad be produced and Shafeer, who is on bail, appear before it on May 15 for recording their pleas as part of the charge-framing process.
After framing the charges, the court will schedule the trial in the case.
