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India Inc hails tax cuts, says move will boost investments, spur demand

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India Inc leaders said the government’s decision to cut corporation taxes on Friday would increase investments, spur demand, and encourage multi-national corporations to shift their units to India. New manufacturing units will attract tax rates of only 15 per cent.


“This is a big respite and would give the required stimulus to the economy. The reduction of the tax rate will also enable companies optimise their cash flows, leading to increased investments. This is a great step towards the $5-trillion economy,” said Tata group Chairman N Chandrasekaran.



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Chairman of Aditya Birla Group Kumar Mangalam Birla said these steps would boost the economy, leading to a big reset and revive animal spirits.


“The reduction in corporation tax rates will not only lead to economic buoyancy but will also make Indian industry more competitive globally. Beyond the immediate benefit of an investment incentive for the manufacturing sector, these steps will also lead to a paradigm shift in the mindset. These measures only reaffirm the government’s willingness to move beyond ‘incrementalism’ and act with conviction to pursue economic reforms,” said Birla.


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Chief executives of corporate entities said the government should have reduced the personal tax as well because this would lead to surge in demand from consumers.


“This is an excellent move to bring back confidence and will boost investment by corporate entities. A real game changer. The government should revisit the personal taxation as well,” said TVS Motor Chairman Venu Srinivasan.


“Amidst these challenging times, the reduction in the corporation tax and the minimum alternate tax (MAT) will infuse confidence in the economy. It also addresses the core challenge of liquidity, reinstating India as an attractive investment destination,” Adani Group Chairman Gautam Adani said.


Corporate leaders said the tax cuts had come at the right time, just before festive season. This would also help in creating jobs.


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“The tax cuts will boost consumption sentiment before a three-month-long festive season that starts next month,” HDFC’s Chief Executive Officer and Managing Director Keki Mistry said. “It will also help boost growth over the next two-three quarters.” R C Bhargava, chairman of India’s largest car maker Maruti Suzuki, said the reduced tax rate will help companies give incentive to customers at a time when demand for automobiles was going through an unprecedented decline. “While the cuts won’t increase demand from customers, it’s possible to look at pricing policies,” he said.


The cut in corporation tax has been a long-standing demand of industry and is an unprecedented and bold move by the government, said Vikram Kirloskar, president, CII.


The announcements will also encourage multinationals to shift their plants to India as the government announced they would be taxes at a lower rate of 15 per cent for those that will go for incorporation from October.


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Bengals’ Green ‘still a ways to go’ By Reuters

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Cincinnati Bengals wide receiver A.J. Green doesn’t appear to be returning to the field in the near future.

Green has yet to play in a game this season since sustaining an ankle injury in July. The seven-time Pro Bowl selection was limited in practice last week before failing to participate in this week’s sessions.

“If I can go, I can go,” Green said, via the Dayton Daily News. “If I can’t, I can’t. It’s no big thing. Like I said from Day 1, if I’m healthy enough to play then I’m going to play. Right now, I still have a ways to go.”

Green’s name has been tossed about as a potential target prior to the trade deadline, although Bengals coach Zac Taylor was definitive last week that the star wideout won’t be dealt.

–The New York Jets followed up on their threat and fined guard Kelechi Osemele for conduct detrimental to the team after he missed practice, according to multiple media reports.

Osemele, who is listed as doubtful for Monday night’s game against the New England Patriots, has been involved in a dispute with the team regarding the severity of his shoulder injury and had been planning to undergo surgery to repair a torn labrum and miss the rest of the season. Osemele plans to file a grievance, as the team believes he can play through the injury and delay surgery.

ESPN reported Osemele was at the team’s facility Saturday, a day after the Jets notified him he would be fined or suspended if he didn’t practice.

–Patriots wide receiver Josh Gordon was officially ruled out for Monday night’s game against the Jets, after missing his third straight practice.

Gordon hurt his left ankle and knee on Oct. 10 in the Patriots’ Thursday night win over the New York Giants. The injuries are not believed to be serious, but Gordon was expected to miss at least a game or two.

Also absent for the Patriots will be tight end Matt LaCosse (knee), while wide receivers Julian Edelman (chest) and Phillip Dorsett (hamstring) are both questionable after practicing on a limited basis all week.

–The NFL fined Los Angeles Rams linebacker Clay Matthews, Cleveland Browns quarterback Baker Mayfield and Detroit Lions safety Tracy Walker $12,500 each after publicly criticizing officiating last week.

Mayfield and Walker were fined for post-game comments Sunday, while ESPN reported Matthews was cited for a tweet posted Monday, during the Detroit Lions’ controversial loss to Matthews’ old team, the Green Bay Packers.

“The storyline for the 2019 season continues to be the refs inability to make the accurate and correct calls week in and week out. Al Riveron continues to blindly side with his refs and the current status quo. Something must change! Zero accountability,” Matthews tweeted.

–The Tennessee Titans activated first-round pick Jeffery Simmons to the 53-man roster in time for Sunday’s game against the Los Angeles Chargers.

Simmons, who tore his left ACL during pre-draft workouts in February, was selected by Tennessee with the 19th pick in the 2019 NFL Draft out of Mississippi State. The defensive end practiced all week.

–The Chargers did not activate left tackle Russell Okung before 4 p.m. ET, meaning Okung will have to wait until at least Week 8 to make his season debut.

Okung announced Thursday he was returning after spending the first six weeks on the reserve/non-football injury list while recovering from a pulmonary embolism that sidelined him since June.

Okung practiced Thursday and Friday, though his level of participation is unclear.

–Seattle Seahawks defensive tackle Jarran Reed was activated to the 53-man roster ahead of Sunday’s game against the visiting Baltimore Ravens.

The Seahawks also placed tight end Will Dissly on injured reserve to make room for Reed, who was suspended for the first six games of the season for violating the league’s personal conduct policy.

–The Philadelphia Eagles activated cornerback Jalen Mills from the physically unable to perform list ahead of their Sunday night matchup at the Dallas Cowboys.

Mills is expected to start Sunday after practicing this week. It’s taken nearly a year for Mills to recover fully from a foot injury sustained in Week 8 of 2018.

–The Green Bay Packers upgraded wideout Geronimo Allison’s condition from doubtful to questionable following practice.

He was in the concussion protocol after getting hurt in Monday night’s win against the Detroit Lions. He also sustained a chest injury.

–The Kansas City Chiefs have swapped defensive tackles, signing Mike Pennel and releasing Terrell McClain, according to a report from ESPN.

Pennel, 28, has yet to appear in a game this season, released by the Patriots in August. For his career, he has appeared in 69 games (15 starts) between the Packers and Jets.

–Field Level Media





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Weigh-ins should be the day of the fight – Max Kellerman | Outside the Lines

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Max Kellerman joins Outside the Lines host Ryan Smith to share his reaction to the recent tragedy that led to the death of professional boxer Patrick Day. Kellerman suggests that in order to prevent further tragedies from happening, boxing should change it’s weigh-ins to the day of the fight.
#Boxing #MaxKellerman #OutsideTheLines

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Kamlesh Tiwari killing: CM Adityanath says murder an act of mischief to create terror, to meet family members today

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Kamlesh Tewari murder caseHindu Samaj Party founder Kamlesh Tewari. He was killed at his office in Lucknow on Friday.

Uttar Pradesh Chief Minister Adityanath has termed the killing of Hindu Samaj Party chief Kamlesh Tiwari an act of mischief to create terror. He said that police officials were probing the case and informed that five people have been taken into custody. He said that such incidents will not be tolerated and those involved will not be spared.

“This is an act of mischief to create terror. In this case, five people have been taken into custody. Of these, three have been taken into custody in Gujarat and two in Uttar Pradesh. A Special Investigation Team has been constituted to probe it,” he said on Saturday.

“The elements who create an atmosphere of fear and terror in the state will be strongly dealt with, and their plans crushed. This type of incident will not be tolerated, and those involved will not be spared,” the CM added.

Adityanath said that the killers were allowed to meet Kamlesh Tiwari by the security guard posted at his residence only after the leader gave him the nod. The killers sat with Tiwari and had food and tea. Subsequently, the personal aide of Tiwari and his son were sent to the market to purchase something. He said that it was during this period that Tiwari was killed by the visitors.

Kamlesh Tiwari, 45, was killed at his home in Lucknow’s Khurshed Bagh on Friday. He was earlier associated with a faction of the Hindu Mahasabha

The Chief Minister will meet the family members of Tiwari on Sunday.

According to Uttar Pradesh Director General of Police DGP OP Singh, five people have been arrested including three in Surat in connection with the murder. He said that the suspects were radicalised and appeared to have targeted Tiwari for his inflammatory remarks made in 2015. Meanwhile, the Anti-Terrorism Squad of Maharashtra police arrested a man from Mominpura locality in Nagpur in connection with the case. The sixth person has been identified as Sayed Asim Ali, 29, who runs a hardware business in Nagpur.

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