19 Jan
2020

76ers rout Magic for fifth straight win

first_img“But after this game I kind of have a new goal. I want to get to 50 wins. We’ve got to keep pushing for that.”Embiid had 17 points and nine rebounds in just 20 minutes and the surging 76ers moved closer to a playoff berth with their fifth straight victory.FEATURED STORIESSPORTSGinebra beats Meralco again to capture PBA Governors’ Cup titleSPORTSTim Cone, Ginebra set their sights on elusive All-Filipino crownSPORTSAfter winning title, time for LA Tenorio to give back to Batangas folkErsan Ilyasova scored 18 points, leading six Philadelphia players in double figures as the 76ers (41-30) clinched their first non-losing season in six years. Robert Covington and Marco Belinelli added 15 points.Rodney Purvis came off the bench to score 19 points for the Magic, who have lost eight of nine and dropped to 21-51. Aaron Gordon, the only Orlando starter to score in double figures, had 10 points and 11 rebounds. Conor McGregor seeks to emerge from controversy in UFC comeback Simmons has nine triple-doubles. Only one player in NBA history has produced as many as 10 triple-doubles in his rookie season. Oscar Robertson had 26 triple-doubles in his rookie season of 1960-61.TIP-INS76ers: Their 41st win clinched their first .500 or better finish since 2011-12, the last time they were in the playoffs. … The five-game win streak is all against losing teams. The 76ers’ last eight wins have come over losing teams. . . . The 76ers are 18-0 when holding opponents under 100 points.Magic: F Jonathan Isaac, who missed 46 games of his rookie season due to an ankle injury, did not play because of a left foot sprain. … F Jonathon Simmons was out with a right wrist contusion.WE’RE NO. 4!Brown said his players understand what holding onto the fourth position would mean. “We’re aware of where we’re at and we’re adamant about holding onto fourth in the East,” Brown said. “We want to go into the playoffs in rhythm and trending in the form that can equate to a win in the playoffs.”UP NEXT76ers: Host Minnesota on Saturday night.Magic: Host Phoenix on Saturday night.Sports Related Videospowered by AdSparcRead Next Carpio hits red carpet treatment for China Coast Guard PLAY LIST 02:14Carpio hits red carpet treatment for China Coast Guard02:56NCRPO pledges to donate P3.5 million to victims of Taal eruption00:56Heavy rain brings some relief in Australia02:37Calm moments allow Taal folks some respite03:23Negosyo sa Tagaytay City, bagsak sa pag-aalboroto ng Bulkang Taal01:13Christian Standhardinger wins PBA Best Player award Judy Ann’s 1st project for 2020 is giving her a ‘stomachache’ Cabuyao City rising above the ashes through volunteerism Nadine Lustre’s phone stolen in Brazil Embiid and J.J. Redick combined for 10 points in a 12-0 run that left the 76ers with a 70-47 lead just before halftime.“I think our third period was the thing I was most impressed with,” said coach Brett Brown. “We knew with the lead we had built, to be able to maintain that sense of urgency and treat it as an opportunity to build on this lead, we can get some of our high-minute guys some rest.”The Magic’s last lead was 14-12 after Nikola Vucevic made a 3-pointer midway through the first quarter. Belinelli scored on an inbound pass play to tie it, then hit a jump shot to put the 76ers ahead to stay. They led by double figures after the first 15 minutes and by 35 at one point, making for another long night for Magic coach Frank Vogel.“We all understand the situation and it’s not a lot of fun to be part of, but we’ve got to compete,” he said. “We started the game that way, and I felt like we gave in and relented when they made their run. That’s why you saw the mass subs.”The 76ers played the fourth quarter without any starters for the second straight night, leaving Ben Simmons with six points, 11 rebounds and 10 assists.ADVERTISEMENT Scarlett Johansson, Sterling K. Brown among SAG Awards presenters Lights inside SMX hall flicker as Duterte rants vs Ayala, Pangilinan anew MOST READ Recto seeks to establish Taal rehab body to aid community, eruption victims In Liverpool, Man United sees the pain and path to recovery Despite late scare vs Fiji, Azkals get ‘good training session’ ahead of crucial match Philadelphia 76ers’ JJ Redick, center, looks to pass the ball as he gets between Orlando Magic’s Bismack Biyombo (11) and Arron Afflalo (4) during the first half of an NBA basketball game, Thursday, March 22, 2018, in Orlando, Fla. (AP Photo/John Raoux)ORLANDO, Fla. — The Philadelphia 76ers keep raising the bar.“After last night, knowing we were in fourth position, we wanted to come out and send a message and let everybody know we will go for the home court,” Joel Embiid said Thursday night after a 118-98 rout of the Orlando Magic.ADVERTISEMENT Jiro Manio arrested for stabbing man in Marikina Don’t miss out on the latest news and information. LATEST STORIES View commentslast_img read more

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14 Jan
2020

World Sanctified Cathedral, Foreign National in “Land Dispute”

first_imgA scene of the students protest on Wednesday at Word Sanctified High School.A long standing land dispute between the leadership of the World Sanctified Cathedral facilities and a Lebanese national took a dramatic turn on Wednesday, April 17, 2019 when students of the World Sanctified High School (WSHS) staged a “peaceful protest” demanding authorities of the Ministry of Public Works (MPW) to re-enforce the zoning law.The properties in question are located in Congo Town, opposite the newly constructed Ministerial Complex.According to the students, who said they are being prevented from accessing their school facilities, the enforcement of the zoning law will allow the reopening of an alley providing free passage to the church that is hosting the school.The alley is the only access the students, parents and the churchgoers use to enter the Word Sanctified facility, but it has been blocked reportedly by one George Nheme, a Lebanese businessman.While Nheme is yet to the speak to the issue, the ongoing construction in the alley has continued without let and has effectively prevented the passage of students and other churchgoers from accessing their facility.The facility includes the Word Sanctified Cathedral of Faith and a school situated just behind the JAC car depot, adjacent to the Old Susan Berry Compound, opposite the newly constructed ministerial complex.Though the students’ protest was ‘peaceful,’ they have resolved to mount the pressure or else the school will not resume any academic activity for the rest of the school year, a development likely to create serious problems for 12th graders that are expected to sit the West African Senior School Certificate Examination (WASSCE) in May.Abraham Daryours, the student council president, said their protest was intended to create public  awareness about the several challenges they face, owing to the ongoing construction that is blocking easy passage to the school.Student Daryours said after government placed stop orders on the construction in alley, they were informed early Wednesday morning to use the road from the swamp to the school which will be very impassable during the rainy season.He called on the government to quickly rescue the institution, because if the building is constructed in the alley, students will not have access to the campus, a situation which may not augur well for those expected to sit the WASSCE.Blessing Keita, a female secretary to the student council government, said it is unfortunate for the school to be engaged in land dispute with a foreign national, whose intention is to block the access road leading to the campus without government’s timely intervention.Student Keita said when the construction first started, few students and the school administration engaged authorities at the MoPW, but the ministry placed a stop order on the project. “It was surprising to see that the contractors are building a fence to block the road allowing easy passage to the school.She said closing the alley will deny them access to education, which will prepare them for the future.World Sanctified Bible Cathedral Bishop, J. Maxwell Seh, said there are Deeds that showed the construction site in question is an alley on public property.Bishop Seh said the land fight began in 2011, when the MPW sent a zoning team that established  the site as an alley, noting that the ministry placed an X mark on the building to signify a halt to further construction.He said the Word Sanctified Cathedral has several other facilities, which are now being closed, because of a fence constructed to protect adjacent properties from ‘intruders.’“There is no other way leading to the church premises that contain a daycare and high school, a bible school, reception hall, pastors’ quarters and a large cathedral for worship services,” Bishop Seh said.He said the fence in question is an “embarrassment to our existence as a church, and school.”“The alley is from the Tubman Boulevard, which is just a block away from the church fence. It  should be opened, or the one directly behind the one acre of land adjacent to the Susan Berry property from the football field should be opened to give us access to our church compound,” Bishop Seh declared.He said on previous occasions, when the situation was unfolding, the Word Sanctified Ministries International wrote a letter of complaint to Public Works Minister, Mobutu Nyepan, seeking his kind intervention in an “unjust and embarrassing situation that the institution was at present facing.”A copy of a letter from the ministry obtained by this newspaper indicates that the Minister had instructed the director of Zoning to probe the impasse and report back to his office.But while the probe is yet pending, the construction work has continued up to Wednesday, April 17, 2019.Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)last_img read more

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11 Jan
2020

Peace River Regional District issues evacuation order and new alert

first_imgKitt Road, Evergreen Road, and Letkiman Avenue — North Peace SAR (@NorthPeaceSAR) May 16, 2016There are 136 civic addresses under the evacuation order.  Here is the map of the area.Evacuation Order May 15Evacuation Order May 15Here is the area now under an evacuation alert.Advertisement NPSAR has been tasked by the RCMP tonight to deliver evacuation orders to residents around the Beatton fire area. https://t.co/MdSMJhvWL3Advertisement East from the junction of the Prespatou Road and Buick Creek Road to the Beatton River, south along the Beatton River to just south of the 264 Road, west along the 264 to just east of the Prespatou Road and then north to the junction of the Prespatou Road and Buick Creek Road.Includes all properties on the following roads:264 Road east of the Prespatou Road269 Road, 267 Road, 263 Road and 259 Road off of the 264 Road266 Road, 268 Road, 270 Road off of the Rose Prairie Road267 Road, 269 Road and Bergen Road off of the Rose Prairie RoadBerrensheim Road off of Bergen RoadThere are 95 civic addresses under the evacuation alert.  Here is a map of the evacuation alert area.Evacuation Alert May 15, 2016Evacuation Alert May 15, 2016Here is a map as of 9:30 p.m. Sunday May 15 that shows the location of the two fires and the evacuation order and the evacuation alerts that are now in place.The PRRD has released this map that shows the location of both fires and the areas under an evacuation order and an evacuation alert. This map is current as of 9:30 p.m.The PRRD has released this map that shows the location of both fires and the areas under an evacuation order and an evacuation alert. This map is current as of 9:30 p.m.Advertisement FORT ST. JOHN, B.C. –   The Peace River Regional District has issued a new evacuation order and changed the existing evacuation order for the Beatton Airport Road Fire.All residents that have been evacuated are asked to check in at the North Peace Arena.  Or you can call 250-794-3310.Firefighters experienced increased fire activity on Sunday after a cold front moved into the area causing winds to increase.  We are waiting for more information on the fire, that should come after 9 p.m. Sunday.- Advertisement -Here is the area under an evacuation order:From approximately Mile 77 on the Alaska Highway where it meets Kitt Road, northwest approximately 9 km and then northeast to junction of the Beatton Airport Road and Aitken Creek Road, east along the Buick Creek Road to the Prespatou Road, south along the Prespatou Road to just south of the 264 Road and generally west to the Alaska HighwayIncluding all properties along the following roads:Prespatou Road from just south of the junction with the 264 Road to just north of the Buick CreekRoadBuick Creek Road from Prespatou Road to Beatton Airport RoadFrom approximately 8km on the Beatton Airport Road to the junction with Aitken Creek RoadMuseum Road, Museum Way, Rodeo Road, Wurzburger Avenue, Otto Avenue and Elevator RoadBlueberry Res Road and Carter Road off of the Buick Creek Road272 Road off of the Prespatou Road277 Road off of the 272 Road277 Road and 281 Road off of the 264 Road264 Road off of the 279 Roadlast_img read more

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6 Jan
2020

Messi denies Barcelona rifts after Inter victory

first_imgSpeaking after the match, Messi was asked about his relationship with Griezmann, who had said on Tuesday it was “difficult” to establish a connection with the Argentine while he had been injured.“Obviously we have no problem,” Messi said. “There is a good relationship with everyone, the dressing room is united. We needed this victory and hopefully now we can kick on and continue in this way.”Luis Suarez scored a sensational double at Camp Nou and it was Messi that supplied the Uruguayan’s 85th-minute winner, with a pass at the end of a weaving run down the right.Barcelona now sit level on four points with Borussia Dortmund in Group F.There have also been suggestions of a rift between Barcelona’s players and the board, with Gerard Pique implying last weekend that articles critical of the team had come from higher up the club, however Messi denied the relationship had soured“We are fine. The important thing is to talk about the triumph of today and against Getafe,” he said.“We have Sevilla now to finish well before the international break. We will try to win it because it creates a mess when there is no football so we want to finish well and go out on a high before the break.”0Shares0000(Visited 21 times, 1 visits today) 0Shares0000Messi Laid on Luis Suarez’s winner against Inter Milan on his second start of the season © AFP / LLUIS GENEBARCELONA, Spain, Oct 3 – Lionel Messi insisted on Wednesday there are no problems between him and Antoine Griezmann or between the players and Barcelona’s board.Messi returned from injury to make his second start of the season against Inter Milan in the Champions League as Barca came from behind to win 2-1.last_img read more

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3 Dec
2019

Congress names seven more candidates

first_imgThe All India Congress Committee late on Tuesday night released its sixth list naming candidates for seven seats from Maharashtra, including one in Mumbai. Former MP and senior Congress leader Eknath Gaikwad will be the party’s candidate from Mumbai South Central. Sitting MLAs K.C. Padvi and Kunal Patil have been fielded from Nandurbar (ST) and Dhule respectively. Former State unit president Manikrao Thakare is the candidate from Yavatmal-Washim, while Charulata Tokas and Bhausaheb Kamble will contest from Wardha and Shirdi (SC). Navinchandra Bandivadekar will contest the Ratnagiri-Sindhudurg seat in Konkan. Mr. Gaikwad faces sitting Shiv Sena MP Rahul Shewale. Mr. Padvi is one of the senior-most tribal MLAs in Nandurbar, a traditional stronghold of Congress. Mr. Padvi had recently resigned from Assembly as a mark of protest over the State government’s move to extend tribal benefits to the Dhangar community. In Ratnagiri-Sindhudurg, rumours were afloat that party would exchange the seat with NCP which could extend support to Nilesh Rane of Maharashtra Swabhiman Party.last_img read more

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30 Nov
2019

PVL organizers call Soltones’ PSL ban ‘absurd, uncalled for’

first_imgThe PSL punished Soltones on Monday for supposedly violating the One League Policy after the former three-time NCAA MVP, who was signed with Iriga in the ongoing PSL Grand Prix, suited up in the 2017 PVL All-Star Game.Palou argued the “ridiculous” penalty, noting that the former San Sebastian hitter “has no contract with the PSL.”FEATURED STORIESSPORTSWATCH: Drones light up sky in final leg of SEA Games torch runSPORTSSEA Games: Philippines picks up 1st win in men’s water poloSPORTSMalditas save PH from shutout“She is only on loan to the team of Iriga as her mother league is the PVL,” the league executive wrote.Palou also thinks Soltones did nothing wrong as the PVL All-Star Game was done for the benefit of HERO Foundation, a foundation established to raise scholarship funds for children of soldiers who gave up their lives in the line of duty. MOST READ Trending Articles PLAY LIST 00:50Trending Articles00:50Trending Articles00:50Trending Articles01:37Protesters burn down Iran consulate in Najaf01:47Panelo casts doubts on Robredo’s drug war ‘discoveries’01:29Police teams find crossbows, bows in HK university01:35Panelo suggests discounted SEA Games tickets for students02:49Robredo: True leaders perform well despite having ‘uninspiring’ boss02:42PH underwater hockey team aims to make waves in SEA Games Read Next Typhoon Kammuri accelerates, gains strength en route to PH LATEST STORIES Japan ex-PM Nakasone who boosted ties with US dies at 101 CPP denies ‘Ka Diego’ arrest caused ‘mass panic’ among S. Tagalog NPA “I don’t see anything wrong with what Gretchel did. In fact she should be commended for helping in this fund-raising event by her participation,” he said.The All-Star event has been staged yearly by the PVL to benefit a charitable institution or victims of calamities.Palou also stressed that the 2017 PVL All-Star has been scheduled at the start of the season, even before Soltones was borrowed by Iriga to play in the PSL.ADVERTISEMENT QC cops nab robbery gang leader, cohortcenter_img Kammuri turning to super typhoon less likely but possible — Pagasa Photo by Tristan Tamayo/ INQUIRER.netEmbattled open spiker Grethcel Soltones found an ally in  Sports Vision, the organizer of the Premier Volleyball League, following her one-year ban and P50,000 fine handed out by the Philippine Superliga.“The suspension and hefty fine on Soltones by the PSL officials is absurd and totally uncalled for,” Sports Vision president Ricky Palou said in a statement released to the media on Tuesday.ADVERTISEMENT Brace for potentially devastating typhoon approaching PH – NDRRMC John Lloyd Cruz a dashing guest at Vhong Navarro’s wedding Don’t miss out on the latest news and information. Stronger peso trims PH debt value to P7.9 trillion LaVar Ball wants son Lonzo to shoot more: ‘You’re not going to make it if you don’t take it’ View commentslast_img read more

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7 Nov
2019

Inaugural Beach Touch Event A Success

first_img32 teams took part in the event, which saw 16 Mixed teams and eight Men’s and eight Women’s teams battle it out to be the first Beach Touch champions. Despite overcast weather and occasional rain throughout the day, there was plenty of fun to be had on Maroubra Beach. Beach Touch Football Australia was created by 2011 World Cup Australian Men’s 30’s representative, Chris Jonson, and 2011 World Cup Australian Senior Mixed coach, Justin Creighton, who were thrilled to see the first event take place yesterday and have some big plans for the future. “Beach Touch is alive, the inaugural event, and obviously it’s a learning experience for us, we’ve got a product now and obviously we want to make it better,” Jonson told the crowd at the presentation function. “Our main goal with these four events (in the coming months) is to have a product, fine tune it, so that in October we plan on rolling out the national pro tour,” he said. In the Women’s division, Pink Bits were too good for Not Sure in the final, Manly beat Bankstown in the Men’s final and MBK Soldiers defeated The Guns in the final of the Mixed division. The next Beach Touch event will be the Corporate Championships, which will be held on Saturday, 25 February at Maroubra Beach. For more details please visit www.beachtouch.com.au. Some photos from the event can be found on the Touch Football Australia Facebook page, which can be viewed by clicking on this link:http://www.facebook.com/media/set/?set=a.10150620064278385.444787.384949403384&type=1#!/pages/Touch-Football-Australia/384949403384 Highlights of the day and of the finals have been uploaded to the TFA YouTube channel, and can be found by clicking on this link:www.youtube.com/touchfootballauslast_img read more

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16 Oct
2019

Bear Grylls Game Gives Players Chance To Help Charity

first_imgBear Grylls Ventures and F84 Games announce Survival Run now featuring an opportunity for its millions of players to make a charitable purchase.The app available on iOS, Android (Google Play) as well as its most recent release on Facebook, gives players an opportunity to supply safe drinking water for families in desperate need.With the purchase of the charitable gear, a Bear Grylls Rigid-hulled Inflatable Boat (RIB) for $10, players, will not only enhance the game but they will directly contribute to those in need across the globe. With charitable partner, Global Angels, each purchase will provide a family access to clean drinking water for 10 years.The campaign runs from July 1st – August 1st, 2013. Each time a RIB is purchased $5 of the proceeds are donated to Global Angels.Molly Bedingfield of Global Angels, “We are thrilled to partner with Survival Run and their players to help us provide thousands of families in the developing world with easy access to safe drinking water. Water for Life is a game changer! I would like to thank Bear Grylls, Playmob and F84 Games for making this happen.”Jeffrey Hardy, CEO of F84 Games, “My team and I are ecstatic for this opportunity to give back. What better way than combining entertainment and charitable giving. It’s truly amazing that each RIB purchase equals 10 years of an essential resource for survival for a family in need. We look forward to seeing how many families we can reach.”F84 Games and Global Angels were brought together by Playmob who help charities to fundraise through in-game purchases.Jude Ower, founder of Playmob, “We are honored to be able to help Global Angels deliver safe drinking water to communities in the developing world. The partnership between F84 Games and Global Angels is really exciting and we hope to make a real impact not only to the game but also to the Water for Life project.”Source:PR Newswirelast_img read more

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18 Sep
2019

Real Madrid monitor South American sensation Wilmar Barrios

first_imgBoca Juniors’ wonder Wilmar Barrios could soon be heading towards Europe, with Real Madrid lining up a shock January move for the Colombia internationalThe 25-year-old midfielder has been astonishing ever since he arrived at the Bombonera back in 2016. During his two-year spell with the Xeneizes, Barrios has lifted two Argentine Primera Division titles.Now, he is on his way of becoming the champions of the Copa Libertadores, as Boca comfortably cruising towards the big final.Jose Mourinho, Lionel MessiMourinho: “Lionel Messi made me a better coach” Andrew Smyth – September 14, 2019 Jose Mourinho believes the experience of going up against Barcelona superstar Lionel Messi at Real Madrid made him a greater coach.Although yet unfamiliar to a wider audience in Europe, the former Deportes Tolima man has already built a notable reputation in South America.Now, the Spanish Marca report that Real Madrid prepare to make a January bid for Barrios, as Casemiro and Modric both struggle to rediscover their last season form.With Toni Kross and the aforementioned stars being the only reliable options in the midfield, Florentino Perez has to rush back into the market to provide some depth to his squad.last_img read more

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5 Sep
2019

Union Budget 2017 Review by top Indian and global analysts bankers

first_imgWatched by 24.4 million viewers, finance minister Arun Jaitley’s Union Budget 2017 has got a positive response from most bankers, analysts, policymakers, brokerages and ratings agencies, though some have sounded cautious.Here, we bring you comments and observations made by them even as the stock markets gave thumbs up to the budget for the second day (Thursday), ending with gains of 85 points at 28,226. On Wednesday, the Sensex jumped 485 points to close at 28,141, while NSE Nifty ended 155 points higher at 8,716.Read: Union Budget 2017 gives 15,500 crore tax relief to individual tax payersDoor open for rate cut by RBI: DBS Bank The Union budget for FY17/18 (Apr17 to Mar18) adopted a balanced approach between maintaining fiscal discipline and pursuing inclusive growth policies.The FY17/18 fiscal deficit target was set at 3.2 percent of GDP, a modest deviation from the roadmap’s 3 percent. Market borrowings to finance the FY17/18 (referred to as FY18 in rest of the note) deficit were lower-than-expected, helping to cheer bond yields.With the government committed to fiscal consolidation, and 4Q16-1Q17 CPI inflation well below targets, the Reserve Bank of India might consider a 25bp rate cut at its policy meeting next week. The decision will be a close call. Nominal GDP for FY18 is expected to quicken to 11.8 percent from a revised 10.2% in FY17, and provide some cushion to next year’s fiscal ratios. If the measures are well-executed, Wednesday’s budget will boost rural and urban consumption, especially amongst low-income earners. This will provide a respite from the short-term dip in activities following the banknote ban. No big shocks: Nirmal Bang Institutional Equities The 2017-18 Union Budget has been workman-like with no big shocks/flourishes. By keeping spending growth low and also keeping the net borrowing number significantly lower than market expectation, it seeks to drive growth by coaxing households and corporates to come out and consume/invest more by borrowing at cheaper interest rates.Budget math seems reasonably credible, especially in the context that no revenues have been accounted from the new income declaration scheme (Pradhan Mantri Garib Kalyan Yojana), which could be substantial. The latter could give the government some elbow room as estimates on divestment and inflows from small savings schemes may be a bit optimistic.There were no big shocks that will upset equity investors – no change in capital gains tax, continued focus on fiscal consolidation, no big political sops (except the ones already made by Prime Minister Mr. Narendra Modi on 31 December 2016), no announcement regarding Universal Basic Income plan, focus on a smaller government and ease of doing business (abolishment of Foreign Investment Promotion Board or FIPB) and also focus on a ‘less cash’ economy.Good, even if not inspiring: HDFC SecuritiesArun Jaitley has yet again delivered an elaborate and meticulous Budget, mostly within stated policies. It laboured more than it inspired. India still awaits a transformative and inspiring follow-through after demonetisation. Jaitley has scored moderately well across this list. But nowhere has he hit the boundaries that could have brought the audience to its feet in applause. Not one brave new measure cashed in on the mass-support for the politically risky move of demonetisation. The decision to abolish the FIPB and the conscious decision not to increase the number of Central Schemes are confirmations of this Government’s rational intent.While the intent to widen the tax net is commendable, the results may not be easily forthcoming as soon as aspired. We see moderate risk to direct tax collections, and hence, to fiscal discipline (or capital expenditure) as the year progresses. Global factors, as always, will throw in uncertainty.Prudent, not populist: NomuraContrary to expectations of populism in the run-up to state elections and after demonetisation, the government is sticking to its path of fiscal consolidation, albeit at a less aggressive pace: it will narrow its fiscal deficit to 3.2 percent of GDP in FY18 (year-ending March 2018) vs 3.5 percent in FY17.We think the fiscal assumptions are largely credible. We view the revenue targets as conservative overall, while we see an upside risk to revenue expenditure, which suggests that capex could be cut later if additional revenue from the amnesty scheme does not materialise or if oil prices rise further.The key message from the budget is that the government has chosen macro stability over growth, despite the pressure to present a populist budget. We see this budget as prudent and popular, but not populist.Not transformative: India RatingsThe broad theme of the FY18 budget remains on reducing the pain arising out of demonetisation and continuity of focusing on infrastructure and housing.  The fiscal deficit target at 3.2 percent of GDP in FY18 is lower than expected and positive for money markets, this will ensure transmission of low rates and benefits to the banking sector. The reduction in LNG custom duty will boost volumes for companies namely Petronet LNG Ltd.  The governments focus on lowering kerosene consumption is positive for upstream companies as zero subsidy sharing is expected in FY18. Adding two strategic crude oil reserves will take the total crude oil capacity in India to 15.33mt and provide additional energy security. Synergistic benefits will flow to the oil public sector companies, as the government proposes to create integrated PSU oil major.The railways shifting from diesel to solar power will impact diesel consumption, since the railways consume 3.24 percent of diesel in India.Realistic numbers commendable: Motilal Oswal SecuritiesIt is notable that the government has budgeted realistic to conservative growth in tax collection and avoided inclusion of any windfall receipts from the potential extinguishment of RBI’s liabilities due to demonetization, which lends credibility to its receipts estimates. It was heartening to see the government resisting calls for populist measures. Overall, we believe that the government has tried to make the maximum impact at minimum cost by providing relief to the low-income individual tax payers and reducing corporate tax for small companies – the most affected sections of the society. The government has kept inflationary bias at bay and its realistic math adds to its credibility.We also believe that a credible and economy-sensitive Budget opens the room for the RBI to deliver a rate cut.Surprises galore: SBI chairman Arundhati BhattacharyaAs far as new announcements are concerned most of them were unanticipated. The measure to tackle black money such as capping the cash transition limit to Rs 3 lacs and reforms in political funding such as reduction in minimum cash donation to political parties to Rs 2000 and novel ideas like electoral bonds were in the surprise list. These measures are nonetheless a continuation of the demonetization measure.The abolishing of FIPB is a welcome move as it removes another hurdle in movement of inward FDI. This measure will therefore boost the foreign investors’ confidence to invest in India.Given the general macroeconomic environment, domestic and abroad, the budget has achieved the much needed delicate balancing factor.Best budget, given the constraints: Angel BrokingFinance Minister has done his level best under the circumstances and the constraints on resources and his capacity to be too liberal with the fiscal deficit.The Union Budget has made a record allocation of Rs.10,00,000 crore for agricultural credit during the current financial year. This is likely to be a major boost to agriculture and a lot of sectors like agrochemicals, fertilizers, and drip irrigation systems.The fiscal discipline will ensure to keep bond yields low and also enhance rating of India’s external ratings. The commitment to keep revenue deficit at less than 1.9 percent will also be positive for the currency. This will be an indirect benefit for the equity markets in India.#ZAPRToday: 24.4 Mn watch as @arunjaitley announces 34% raise in advance tax on Personal income tax. #Budget2017 #TaxSlabs pic.twitter.com/Afd3IMwcmd— Indian TV viewership (@zapr_data) February 1, 2017last_img read more

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