Reactions to the Union Budget 2020, which was presented Saturday by Finance Minister Nirmala Sitharaman, continue to pour in as tax regimes and other aspects make it to the front pages of mainstream newspapers across India Monday.
The Times of India reports on the gunshots at Jamia and the second confirmed case of coronavirus in Kerala. Uncharacteristically, it does not have a flap this Monday morning but makes up for it with a half page advertisement. It’s lead is based on an interview with the revenue secretary Ajay Bhushan Pandey on page 11 where he explains the attempt to move to a “simplified tax regime’’.
The Indian Express has a series of unusual stories on its front page. In a story on “creeping socialism”, it explains how the apprehension is based on the tax proposals in recent budgets, which have increased taxes for the ‘super rich’. In the anchor story, a Tamil Nadu port city, swallowed by sea 1,000 years ago, will “be digitally reconstructed by a consortium led by the Department of Science and Technology”. The other one worth reading is Trinamool Congress moving amendments in the Rajya Sabha to the President’s address for its ‘silence’ on the Citizenship Amendment Act (CAA) and Kashmir.
The stand out feature on Hindustan Times’ front page has nothing to do with the news—it’s a two-part BJP ad on the flap and front page. The paper also features Finance Minister Nirmala Sitharaman’s statement on “no intention of taxing the global income of non-resident Indians (NRIs)” while a small item says “government has initiated preparations for the mega initial share sale’’ of LIC. The other story on “two CRPF men, seven civilians hurt in Kashmir grenade blast”, is unable to identify the suspects and merely calls them “suspected militants’’.
The Hindu reports an uncharacteristic story on its front page: “Study on bat-hunters of Nagaland under scanner”. This “inquiry comes as officials worldwide grapple with the spread of novel coronavirus (nCoV) 2019, from Wuhan in China, to 20 countries” that has resulted in over 300 deaths.
Doesn’t this look like a normal front page? Unusual by The Telegraph’s wacky standards but the headlines here are still strong. Its lead story (“Scholars issue appeal as NIA calls IIT professor again”) is on one Arupjyoti Saikia, a professor of history at IIT Guwahati “who was questioned by the National Investigation Agency (NIA) on Saturday, has been asked to present himself for another round on Monday.” It also carries a feel good communal harmony anchor piece on temples and mosques
The New Indian Express has just bad news: the detection of a second coronavirus case in Kerala — “The centre on Sunday temporarily suspended online visa facility for China nationals” — and how we have to pay 10 per cent TDS on our mutual fund investments. The paper also covers Tamil Nadu’s 179 projects in the pipeline worth 8.5 lakh crores, which the state is looking to raise funds for.
Mumbai Mirror leads with a report on Mumbai’s AC locals, “Railway Board chairman VK Yadav admits ‘local population’ is angry over the AC local’s higher fares”. The half-page advertisement leaves little space for more, and what little there is goes to sports news — the five set win of Novak Djokovic in the Australian Open and India’s 5-0 clean sweep of New Zealand in T-20.
The Tribune celebrates Indian cricket team’s clean sweep against New Zealand and carries a small item on Punjab Agriculture University’s VC “writes to Pak counterpart on locusts”. The paper’s “3 flee Amritsar jail, 7 officials suspended”, says “Punjab CM Amarinder Gill has ordered an inquiry by the Commissioner, Jalandhar, and asked the ADGP to revamp prison security.”
Business Standard’s most interesting Page 1 story is its anchor on “Companies may change dividend policies after Budget changed,” which says that industry is “likely to explore alternative ways, including buybacks, to pay back shareholders” after the Union Budget said dividends would be taxed “in the hands of shareholders,” which will lead to upto 20 per cent more additional tax. There’s also a warning about markets in for near-term volatility — “too early to say whether Budget Day volatility was a one day event,’’ said Krishna Sanghavi, Mahindra Mutual Fund.
The Economic Times mainly focuses on the Budget. It gives very little importance to what seems like an important report on pension funds cap which will be cut.
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