The Ministry of Finance has started which series on Twitter to educate general public about the budgetary process?

PM Modi on his visit to Jhansi laid foundation stone of Defence Corridor which will create a lot of direct and indirect employment to the youth in the region. Government decided to establish 2 defence corridors in the country, one at Tamil Nadu and the other in Uttar Pradesh. Jhansi is one among six nodal points of the UP defence corridors.The Defence Corridor will make India independent in defence production. The project will also attract many foreign and domestic Defence related companies to invest in the region.

Commerce and Industry Minister Suresh Prabhu launched a logo and tagline for Geographical Indications (GI) to increase awareness about intellectual property rights (IPRs) in the country. The slogan for the GI tag is- 'Invaluable Treasures of Incredible India'. A GI product is primarily an agricultural, natural or a manufactured product (handicraft and industrial goods) originating from a definite geographical territory.

The Centre has announced a new Rs 20 coin which will come in 12-edged polygon (dodecagon) shape. The government is also planning to release new coins of Re 1, Rs 2, Rs 5 and Rs 10. However, the govt has not announced the exact date for the issuance of these new series coins. The Finance Ministry stated that the new Rs 20 coin will be made in copper, zinc and nickel. It will be 27mm (millimeters) and weigh 8.54 grams. The Lion Capitol symbol of Ashoka Pillar with the legend "Satyamev Jayate" below it will be inscribed on its front side. The words "Bharat" in Hindi and "INDIA" in English will be there on the right and left-hand side of the symbol respectively.

The Department of Financial Services, a wing of the Ministry of Finance, has approved an Employee's Provident Fund (EPF) interest rate hike of 10 basis point to 8.65 percent for 2018-19, as decided by the retirement fund body Employee's Provident Fund Organisation (EPFO). This move will benefit more than 6 crores formal sector workers. Earlier in 2017-18, the interest rate on EPF was 8.55 percent.In February 2019, the EPFO's apex decision making body, the Central Board of Trustees headed by Labour Minister Santosh Gangwar, had decided to hike the interest rate on EPF to 8.65 percent for 2018-19 from 8.55 percent for 2017-18. This hike was the first increase in the last three years.

India's economy is expected to clock GDP growth of 7.5% in this financial year according to a Morgan Stanley report. The growth recovery will remain robust, supported initially by consumption and exports. In the January-March quarter, India's gross domestic product (GDP) grew at the fastest pace in seven quarters at 7.7% on robust performance by manufacturing and service sectors as well as good farm output. India's economy is expected to clock GDP growth of 7.5% in this financial year according to a Morgan Stanley report. The growth recovery will remain robust, supported initially by consumption and exports. In the January-March quarter, India's gross domestic product (GDP) grew at the fastest pace in seven quarters at 7.7% on robust performance by manufacturing and service sectors as well as good farm output.

The Reserve Bank of India will shortly issue Rs100 denomination banknotes in the Mahatma Gandhi (New) Series, bearing the signature of Dr Urjit R. Patel, Governor, Reserve Bank of India. The new denomination has Motif of "RANI KI VAV" on the reverse, depicting the country's cultural heritage. The base colour of the note is Lavender. The dimension of the banknote will be 66 mm x 142 mm.

Government panel recommended lowering GST on under-construction residential properties to 5%. The GST rate for under-construction flats earlier was 12%.The Group of Ministers headed by Nithin Patel was formed to analyse tax rates and issues or challenges being faced by the real estate sector under the Goods and Services Tax (GST) regime.The seven member ministerial panel also favoured lowering GST on affordable housing from 8% earlier to 3%.The move will give relief to homebuyers as the tax rate had lowered sharply with no input tax credit. Any cut in GST should reduce the adverse impact on the land abatement rate also.

According to Moody's, Indian economy is expected to grow at 7.3 percent in the calendar year 2019 and 2020, and the government spending announced ahead of elections this year which will support near-term growth. Moody's stated in its quarterly Global Macro Outlook for 2019 and 2020. In 2018-19 fiscal, ending March 2019, Indian economy is estimated to have grown 7 percent, lower than 7.2 percent in 2017-18.

The Cabinet Committee on Economic Affairs cleared at an outlay of Rs.1,623 crore to get more disaster warning systems and desalination plants along Indian coasts. The system will be functioning under the programme called O-SMART (Ocean Services, Technology, Observations, Resources Modelling and Science). O-SMART is monitored by the Union earth sciences ministry. O-SMART provides economic benefits to a number of user communities in the coastal and ocean sectors, namely, fisheries, offshore industry, coastal States, defence, shipping, ports, etc.

China, UAE, Cyprus and significantly, Mauritius, along with 21other countries have been tagged as "high-risk jurisdictions" by global banks acting as custodians for foreign funds which comprise the largest group of investors in the Indian stock market. Large investors and beneficial owners of these funds entering India through these high-risk jurisdictions will face close scrutiny while non-resident Indians and persons of Indian origin will run into new hurdles in participating in funds set up in these countries for trading on Indian exchanges.