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News18 Wrap: Sitharaman Announces Historic Corporate Tax Cut, Houston Flooded Ahead of PM's 'Howdy Modi' & Stories You Missed

News18 Wrap brings you some of the biggest stories on News18.com today to help you stay updated at all times.

News18.com

Updated:September 20, 2019, 6:38 PM IST
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News18 Wrap: Sitharaman Announces Historic Corporate Tax Cut, Houston Flooded Ahead of PM's 'Howdy Modi' & Stories You Missed
Illustration by Mir Suhail/News18.

News18 Wrap brings you some of the biggest stories on News18.com today to help you stay updated at all times.

In case you missed it

Tax Bonanza: Finance Minister Nirmala Sitharaman announced corporate tax rate cut in a surprise Rs 1.45 lakh crore break aimed at reviving private investment, seeking to lift growth from a six-year low that has sapped jobs and fuelled discontent in the countryside. She said that the effective corporate tax rate will be lowered to around 25% from 30%, which would be on par with Asian peers, an announcement that led Sensex and Nifty to skyrocket. Read more.

Howdy Modi?: Tropical Depression Imelda inundated southeast Texas, lashing some areas with torrential rain causing devastating flooding. The deluge comes ahead of the mega 'Howdy Modi' event where PM Modi will address over 50,000 Indian-Americans. The Houston airport informed that flight arrivals will resume tomorrow and Terminal B checkpoint will be closed. Read more.

Climate Rally: Ahead of a UN summit in New York tens of thousands of protesters joined rallies today marking a day of worldwide demonstrations, which called for actions against climate change. Some of the first rallies in what is being billed as a "global climate strike" were held in Australia's largest city, Sydney, and the national capital, Canberra, where more than 300,000 protesters took to the streets. Read more.

Chinmayanand's Arrest: After a life threat from the law student, who accused the former MP and BJP leader Swami Chinmayanand of sexual assault, he was arrested from his ashram in Uttar Pradesh’s Shahjahanpur and sent to 14-day judicial custody. However, the police have substantially toned down the rape charges against him — instead of charging him under Section 376 of the Indian Penal Code he has been charged under Section 376C of the IPC. Read more.

Pawar-Modi Barb: A day after being targeted by PM Modi over his remarks on Pakistan, Nationalist Congress Party president Sharad Pawar said the former had failed to understand his opinion on the matter. He said he was under the impression that the Prime Minister Office (PMO) provides accurate information to the prime minister but that didn't seem to be the case now. Read more.

JU Agitation: A day after union minister Babul Supriyo was shown black flags and allegedly assaulted in Kolkata’s Jadavpur University, Left-affiliated students present at the protest said that the BJP leader provoked violence and directed sexist remarks towards them. Supriyo had gone to address a seminar organised by the Akhil Bharatiya Vidyarthi Parishad (ABVP) – the student wing of the RSS – which has rejected the accusations. Read more.

Agree or Disagree?

The decision to cut effective corporate tax to 25.17 per cent, inclusive of all cess and surcharges, for domestic companies couldn’t have come at a better time for India Inc. The slew of measures to help the beleaguered business class and boost the sagging economy in general show that the Narendra Modi government is responsive to the feedback from the ground. Read the piece by Ravi Shanker Kapoor, who argues that this is a bold step and this boldness is beautiful, for it is based on a sound economic principle: lower tax rates result in higher revenue collection.

Art of the Day

India-Inc-Cartoon2

"Tax concessions will bring investments in Make in India, boost employment and economic activity, leading to more revenue,” said Finance Minister Nirmala Sitharaman.

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