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Last Updated : May 29 2020 10:11PM     Screen Reader Access
News Highlights
COVID recovery rate improves to around 43 per cent; over 71,000 cured so far            Over 52 lakh passengers transported to their home states through Shramik Special trains            Govt to bring back over 1 lakh stranded Indians by end of Phase 2 of Vande Bharat Mission            Ministry of Tribal Affairs announces inclusion of 23 additional MFP items in MSP list            Defence Minister Rajnath Singh speaks to his US counterpart; reviews progress on bilateral defence cooperation arrangements           

Text Bulletins Details

Midday News

1400 HRS
  • Corporate tax rates slashed to 22% for domestic companies and 15% for new domestic manufacturing companies, says Finance Minister; sensex rises more than 1500 points.
  • Prime Minister to embark on a seven-day visit to United States tonight; will address mega diaspora event "Howdy Modi" in Houston on Sunday.
  • Former Union Minister Swami Chinmayanand arrested in a rape case in Shahjahanpur, Uttar Pradesh.

  • B Sai Praneeth crahses out of Men's Singles quarterfinals of China Open Badminton tournament.


Finance Minister Nirmala Sithraman today said, a new provision has been ed in the Income-tax Act which allows any domestic company an option to pay income-tax at the rate of 22% if they do not avail any exemption/incentive. It will be effective from the current Financial Year. Addressing media ahead of 37th GST council meeting in Goa today, She announced reduction in corporate tax for domestic companies and domestic new manufacturing companies.

"Any domestic company has an option to pay Income Tax at the rate of 22% subject to condition that they will not avail any exemptions or incentives. The effective tax rate for these companies shall be 25.17 %, inclusive of all surcharges and CESS. Also such companies shall not be required to pay any minimum alternative tax."

Another new provision allows any new domestic company incorporated on or after 1st October 2019 making fresh investment in manufacturing and commencing their production on or before 31st March, 2023, will have to pay income-tax at the rate of only 15%. The Finance Minister has also announced the government decision to expand the scope of 2 percent CSR spending. Meanwhile, 37th GST council meeting, headed by Finance Minister Nirmala Sitaraman is underway in Panaji, Goa. Appreciating the efforts taken by the Finance Minister, Commerce and Industry Minister, Piyush Goyal said that these announcements will give necessary fillip to the economy. He said that government have taken series of measures to boost the economy and today's measures are the largest one.


Domestic equity benchmark BSE Sensex and Nifty today skyrocketed after the announcement of the Finance Minister. BSE Sensex was trading at 38,125 points, 2045 points higher than the previous closing session, while the Nifty rose 603 points and trading at 11,309 points.


Prime Minister Narendra Modi will embark on a seven-day visit to United States tonight. During his visit, Mr. Modi will be in Houston and New York and address the United Nations General Assembly on 27th of this month. Briefing reporters in New Delhi, Foreign Secretary Vijay Gokhale said, the Prime Minister will address Indian community on  22nd of this month and President Donald Trump will also be there. On 24th September, India will organize an event to commemorate the 150th Birth Anniversary of Mahatma Gandhi at the UN. Mr. Modi will be joined by heads of some countries including President of South Korea, Prime Ministers of  Singapore, New Zealand, Bangladesh and Jamaica as well as the UN Secretary General.

Our intention in participating this year in all the plulateral is to showcase the progress we have made in issues relating to climate change, universal health coverage, renewal energy, sanitation and so on. As well as to convey expectations from the other countries and to understand their
aspirations  in this regard. Prime Minister is also of the view, that it is important to play the role that is expected of India in shaping the global agenda on many of these issues, both political and socio economic."

Prime Minister Narendra Modi will inaugurate a 50 kilowatt Gandhi Solar Park and Gandhi Peace Garden during his visit. Indian  Ambassador  to the United States, Harshvardhan Shringla said, India's engagement during the high level United Nation General Assembly session will be action oriented.

During the visit, Mr. Modi will also be honoured with Bill and Melinda Gates Foundation's Global Goalkeeper's Award for his leadership in field of sanitation through Swachh Bharat Abhiyan.


As the Prime Minister sets out on his week long visit to USA, focus is on expanding India-US trade, of which Houston is an important partner. Indo-American chamber of Greater Houston has said that PM's  visit would give a boost to trade ties between the two countries & encourage investment in India. A non-stop flight from Houston to Delhi is one of these expectations. Our correspondent has more:

"India is the fourth largest trading partner of Houston after Brazil, China and Mexico. Houston- India trade has gone up by 82.2 per cent this year. The total trade volume was worth $7.2 billion in 2018.  In adition, Houston Customs District is the third busiest gateway for US-India trade by sea and air. 33 Houston-based firms have 85 branches and subsidiaries across India. 28 Indian firms have as many branches and subsidiaries in Houston. With an ongoing trade war between US & China, India's vast market & energy needs, the  Indian American business community has high hopes that the Modi-Trump joint address can very well be the catalyst for the two economies. Atul K. Tiwary, AIR News, Houston."


Texas India Forum, the organizers of Howdy Modi event have said that the love and affection for Prime Minister Narendra Modi & his ability to get India moving on to a fast track have been the twin factors for hosting the event in Houston. The sentiments were shared by the spokesperson of the event Gitesh Desai in an exclusive interview to AIR News in Houston.

"जब से इस हाउडी मोदी कार्यक्रम की घोषणा हुई उस दिन से ही माहौल बदल गया पूरे इंडियन-अमरीकन कम्युनिटी में हमारे समाज के अंदर। और हमने जैसे ही रजिस्ट्रेशन शुरू किया तीन हफ्तों के अंदर 50 हजार लोगों ने रजिस्ट्रेशन कर दिया। नरेन्द्र मोदी जी प्रधानमंत्री जी, की बहुत ही लोकप्रियता भारतीय समाज के लोग जो यहां बसे हुए हैं उनसे है इससे उत्साह भरा पड़ा है।"

Meanwhile, Texas is facing the wrath of Hurricane Imelda which has led to heavy rains & flash floods in its southern parts on Thursday. Over 1000 people have been rescued in low lying eastern Harris county. Bus and Rail services along with both airports of Houston were disrupted due to rains.


Prime Minister Narendra Modi and the Mongolian President Khaltmaagiin Battulga jointly unveiled a statue of Lord Buddha at Gandan Monastery in Ulaanbaatar through video-conferencing from New Delhi today. Earlier, Mongolian President Khaltmaagiin Battulga today met Prime Minister Narendra Modi at his official residence at 7 Lok Kalyan Marg. Later in the day, Mr. Battulga will meet Vice President M. Venkaiah Naidu. He will also participate in an India-Mongolia Business Forum in New Delhi.Mongolian President arrived in New Delhi yesterday on a five-day state visit to India. This is the first State Visit by a Mongolian President in last ten years.


Indian envoy to the United Nations, Syed Akbaruddin has slammed Pakistan for raising Kashmir issue at United Nations General Assembly. He was addressing a press conference in New York which was live streamed across the globe on Facebook. Mr. Akbaruddin asked Islamabad to shun terrorism and stop mainstreaming the hate speeches.


"They may stoop low, we soar high. And what I have told you are examples of how we will soar high. What they want to do is their call. We have seen them mainstream terrorism in the past and what they now telling me is, they may want to mainstream Hate Speech. Its their call, if they want to do that."


Former Union Minister Swami Chinmayanand has been arrested by the Special Investigation Team and local police in shahjahanpur district in Uttar Pradesh this morning in a rape case. He was later produced in local court which sent him to 14 days in judicial remand. A medical checkup of Chinmayanad was also done before producing him in court. A law student has accused Chinmayanand of rape and sexual harassment and the special  team formed by court is investigating the matter. Yesterday, the victim threatened to set herself on fire if Chinmayanad was not arrested immediately. She said that despite recording her testimony under Section 164 and investigation by the agencies for over 15 days Chinmayanand had not been arrested.Last month, the student had released a video clip claiming that swami Chinmayanand has harassed her. After the video went viral, the girl went missing and was traced to Rajasthan a week later. Later, she appeared before media and alleged that Chinmayanand raped her for a year.


In China Open Badminton, B Sai Praneeth lost to Indonesian seventh seeded Anthony Sinisuka Ginting in men's singles quarter-finals. World Championship bronze medalist Praneeth was the only Indian left in the fray. Earlier, in the pre-quarterfinals last evening, the reigning world champion PV Sindhu and Parupalli Kashyap lost their matches.


The Supreme Court today said that court received the report from the Chief Justice of Jammu and Kashmir High Court which does not support the claim of the petitioners who alleged that people are unable to access the high court in the state.A bench headed by Chief Justice Ranjan Gogoi said that Supreme Court did not find any support for the statement of the petitioners in the report received from the Chief Justice of Jammu and Kashmir High Court.


President Ram Nath Kovind has given his assent for promulgation of the ordinance to ban e-cigarettes. The ordinance was approved by the Union Cabinet which bans production, import, distribution and sale of electronic cigarettes. The Cabinet decided to ban e-cigarettes and similar products as they pose health risk to people, especially the youth. Speaking to AIR NEWS, Dr. Karan Madan of Department Pulmonary Medicine in AIIMS New Delhi said, recent studies have shown that e cigarettes are not at all a safe alternative for tobacco.

जो -सिगरेट हैं इसके भी काफी इल-इफेक् देखने में आए हैं। पेपर में भी ये दिखाया है कि इससे कई लोगों में सीरियस रैस्पेरेट्री जैसी इलनेस देखी गई हैं तो ये बिल्कुल भी कोई अच्छे ऑलटरनेटिव नहीं हैं और इनके काफी हैल् रिस् हैं। इनका यूज रेकमैंडिड नहीं है।"


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