Tax shortfall likely to be worse than expected: Sri Mulyani

first_imgThe government will probably fail to meet its tax collection target, because economic activity slowed more than expected amid the coronavirus pandemic, Finance Minister Sri Mulyani Indrawati says.Sri Mulyani said Wednesday that the government expected a greater tax shortfall this year following a change in its economic growth estimate.“We expect a slightly lower tax income than the target set in [Presidential Regulation (Perpres) No. 72/2020] due to the possibility of lower economic growth in 2020,” she said. The shortfall would create a “more challenging environment” to increase tax revenue next year, Sri Mulyani added. The government has revised its GDP target for the full year to growth of only 0.2 percent at best or a contraction of 1.1 percent at worst, down from a previous estimate of 1 percent growth or a 0.4 percent contraction.The government previously expected tax income to reach Rp 1.19 quadrillion this year, around 10 percent lower than stated in the initial 2020 state budget assumption, as the coronavirus pandemic hit economic activity hard.The government collected Rp 601.9 trillion in taxes in the first half, down 14.7 percent year-on-year and around 50 percent of this year’s target.Topics :last_img read more

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More support for Darren Clarke as Ryder Cup captain.

first_imgRory McIlroy is the latest player to back Darren Clarke as the next Ryder Cup captain for Europe.McIlroy was among influential voices who threw support behind Paul McGinley when European Tour officials were choosing a captain for Gleneagles.Clarke and Miguel Angel Jimenez have been mentioned as possible captains for 2016. McIlroy is part of the field at the Alfred Dunhill links championship this week and says the pro am is the perfect place to unwind after last weekend.last_img

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Rajeev moves trial court for anticipatory bail CBI files caveat in Supreme

first_imgNew Delhi/Kolkata: Former Kolkata Police commissioner Rajeev Kumar, who has been summoned by the CBI, in connection with the Saradha case, has approached a Special CBI court in Barasat, moving an anticipatory bail plea, which will be heard on Tuesday.Meanwhile, the Central Bureau of Investigation has also filed a caveat in the Supreme Court of India, in anticipation of a plea from Kumar’s side challenging the Calcutta High Court order that lifted his arrest shield. Also Read – Uddhav bats for ‘Sena CM’The battle between CBI and Kumar has now once again reached the Apex court after it had in May this year said that Kumar should approach the High Court and trial courts for relief in the matter. CBI officials had also visited Nabanna, the West Bengal State Secretariat earlier on Monday to deliver letters to the home secretary and chief secretary of the state, seeking the whereabouts of the former Kolkata top cop, who had not been seen since the High Court removed his protection from arrest on Friday. Also Read – Farooq demands unconditional release of all detainees in J&KThe central agency had summoned Kumar to appear before its officials on Monday as well, even after Kumar had responded to their earlier summons asking for one month’s time before joining the probe. Moreover, on Sunday, the CBI also sent a letter to the West Bengal DGP, looking to find out more about Kumar’s location, to which DGP Virendra had replied. After the Calcutta High Court had lifted Kumar’s protection from arrest on Friday, the CBI had on the same day visited his residence and summoned him to join the investigation. Kumar had on Saturday itself responded to the central agency’s summons asking for more time before being subjected to questioning. The Supreme Court of India had granted Kumar protection from arrest in the case till May 24 this year, after which an Apex court bench asked him to approach the Calcutta High Court or the trial courts for relief. Kumar, in a couple of days, immediately approached the Calcutta High Court, which protected him from CBI’s arrest till recently, when it dismissed his plea. The CBI has already questioned Kumar in connection with the case in Shillong earlier this year. Kumar, who is currently the ADGP (CID) in West Bengal, has maintained that the allegations against him are a result of vendetta because he had spearheaded a probe against former CBI Interim-Director Nageswar Rao’s wife. And while the CBI seems to be overeager in its pursuit of Kumar, other important lines of enquiry, such as the involvement of bureaucrats like Neeraj Singh (I-T) department and Manoj Kumar (ED) in the chit fund cases seem to be going cold.last_img read more

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Harrison Ford Urges US To Invest In Conservation Before It Becomes National

first_imgHarrison Ford has urged the US to invest in conservation in a new interview with the BBC’s Laura Trevelyan.Video: Harrison Ford: ‘Humans need nature’.In the interview, the actor – alongside Conservation International Chief Executive Officer Peter Seligmann – talks about how the lack of water and food in developing countries could become a national security issue for the US.“It puts such stress on some of the most fragile nations in the world,” he says. “We’re all interconnected. For example, a simple lack of fresh water can lead to population dislocation, which can lead to political radicalization, which can lead to great pressure on the states that receive refugees because of a migrating population.””It’s a lot cheaper to intervene before it becomes a national security issue,” Mr Ford said. “Every dollar that we spend on international conservation comes back to us.”When asked why it is so important to him so personally, Ford replied “I’m human, I have children, I’m interested in their futures. I’m interested in nature in many many ways. And I’m also interested in the moral responsibility of human beings – to each other, to themselves, to the future.”To watch the entire interview, click here.last_img read more

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Peyton Manning Had The Worst Season Of Any Super Bowl Quarterback Ever

With a few notable exceptions, one being Brother Eli on the 2007 Giants, even the dumpier quarterbacks who get to the Super Bowl tend to play at about a league-average level. But Manning has blazed a new trail for ineffective passers with eyes on the Super Bowl, so long as they play in front of a superlative defense and cobble together a few decent playoff starts. There’s a reason the 2015 Broncos’ most similar team was the 2009 New York Jets.Funny thing, however: Manning playing poorly doesn’t seem to matter very much for Denver’s chances of winning the game. Based on regular-season value over average, Cam Newton and the Panthers have a huge advantage in the passing game over the Broncos — the sixth-biggest in any Super Bowl since the merger, in fact2The biggest passing mismatch was the aforementioned 2007 Eli against the record-setting Tom Brady. — but that hasn’t mattered much in past Super Bowls. Whether you look at total or per-attempt measures of value, there’s essentially zero correlation between the disparity in regular-season QB performance for the Super Bowl opponents and the eventual point margin of the game itself. This makes sense, as the equilibrium of a successful team will account for poor play from any given position (even QB) if the rest of the team is strong enough. And given the importance of quarterbacks to modern NFL play, the Broncos’ compensation for Manning’s play is just about the most impressive thing we’ve seen out of a unit leading up to a Super Bowl. Peyton Manning, The Sheriff, is back in the Super Bowl saddle. Good for him; we’ve written many paeans to Manning over the years, for the simple reason that he’s the greatest statistical quarterback of all time. But let’s face it: 2015 was also far — faaaaaar — from Manning’s best season, and in the context of a Super Bowl appearance, Manning’s standard of play pales even in comparison to “game managers” like Trent Dilfer. In a lot of ways, Peyton’s 2015 was worst regular-season performance ever by a QB who would eventually start the Super Bowl.During the regular season, Denver had the NFL’s eighth-worst passing offense according to Football Outsiders’ defense-adjusted value over average, with a mark one full standard deviation worse than average. That’s really bad by Super Bowl standards: If we index the Broncos’ DVOA relative to the league, the only post-merger Super Bowl team to throw the ball less effectively were the Vince Ferragamo-led 1979 Los Angeles Rams.Now, Manning was injured during the regular season and missed six games, so you might think others share in the blame over the Broncos’ lousy aerial attack. But you can’t pin this on Brock Osweiler — he was mediocre in Manning’s stead, not outright horrible. Manning, on the other hand, was the league’s worst QB (on a per-drop-back basis) according to adjusted net yards per attempt (ANY/A), and its second-worst according to DVOA. He ranked among the bottom 15 percent of NFL passers in not just conventional categories such as touchdown and interception rate, but also fancier numbers like the percentage of his throws that were on-target.1In the estimation of ESPN’s Stats & Information group. Plain and simple, he stank.Let’s compare Manning’s overall season to those of other Super Bowl starting QBs over the years. If we judge by ANY/A compared to the league average from the season in question, Manning’s 2015 ranks second-worst, again ahead of only Ferragamo’s catastrophic 1979 numbers. And Ferragamo’s damage was at least limited: He started only five of the Rams’ 16 games, and played in an age when teams passed less, so a poor QB wasn’t as harmful to his team’s chances as today. (Not that it mattered for Ferragamo; his Rams lost the Super Bowl to the Steelers 31-19.)Manning, by contrast, plays in a pass-crazed era and threw the ball about as often per game as his peers, despite his horrible passing efficiency rates. The result, according to Football Perspective founder Chase Stuart’s method of judging QB value versus league average (which considers both passing and rushing value) was by far the worst regular season by a Super Bowl starter since the merger. read more

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Even Down Two QBs The Patriots Are Playing With House Money

Brady and Garoppolo numbers reflect preseason projections. Actual (Brissett starts Wks. 3-4)3.21008236 SITUATIONWINS2+ WINS3+ WINS4 WINS ODDS OF… Garoppolo starts 4 games2.3774411 Brady starts 4 games2.586%53%17% Going into Week 1, there were at least mild concerns that Tom Brady’s four-game Deflategate suspension (upheld in July after nearly 18 months of legal theatrics) might put a dent in the New England Patriots’ season before it even began. Though few reasonable analysts expected total calamity for the Pats, terms like “survival” and “staying afloat” were tossed around in relation to New England’s four weeks under backup Jimmy Garoppolo, particularly after Brady’s understudy received mixed reviews in the preseason.1Garoppolo’s cumulative stats were actually pretty good.Halfway through Brady’s suspension, though, the Patriots are in great shape. They moved to 2-0 on the season with a 31-24 victory over the Miami Dolphins, and although Garoppolo was injured in the win — thrusting rookie third-string QB Jacoby Brissett into the starting role for at least one week, if not two — New England is still well ahead of where preseason expectations would have had them at this point in the season. In fact, it’s now likely that they’ll make it through Brady’s suspension with a better record than we’d have expected if Brady had played all along.We can show this using our Elo ratings, which are used to judge each NFL team’s quality at a given moment in time. The Patriots entered the season with an Elo of 1605 — good for sixth in the league — and if they played to that rating, they could have expected to win about 2.5 of their first four games, with an 86 percent chance of going 2-2 or better, a 53 percent shot at 3-1 or better and a 17 percent probability of going 4-0.But Elo also doesn’t know about injuries or suspensions to key players. Research has shown that starting a backup QB slices about 60 points off a team’s Elo, so a more reasonable projection might have set New England’s opening-day Elo at 1545, reflecting the drop-off from Brady to Garoppolo. Under those circumstances, the Pats would project to win an average of 2.3 games in the season’s first quarter, with a 77 percent chance of breaking even and an 11 percent shot at 4-0.Maybe that number undersells the perceived gap between Canton-bound Brady and untested backup Garoppolo — the betting markets consistently estimated that the suspension would cost New England half a win over four games — but the general point remains: Before the regular season started, the Pats were projected to win somewhere between 2 and 2.5 games during Brady’s suspension, as opposed to the 2.5 games they’d be expected to win with Brady in the lineup.Now, they’re likely to emerge from Brady’s ban in better shape than they could have expected based on preseason predictions with or without Brady. Even if Brissett proves to be among the worst QBs in the league — warranting a further deduction of 32.5 Elo points2I estimated this using the same method my colleague Harry Enten used to judge Brady’s value here, assigning Brissett the average defense-adjusted yards above replacement of a bottom-five NFL passer from the past five seasons. from New England’s rating, on top of the Garoppolo penalty from above3Though this should be mitigated a bit because the Pats’ Elo increased from 1545 to 1571 during Garoppolo’s two weeks at the helm. So I decided to average together the Pats’ hypothetical Elo if we deducted Brissett’s penalty from Garoppolo’s initial Elo (1513) and their Elo if we lopped the penalty off their updated Elo under Garoppolo (1538). The resulting Elo for the Pats under Brissett was 1526. — and the Patriots play to a 1526 Elo (think of a team somewhere between the Lions and Jets) over the next two weeks, they already have a pair of wins in the bank and can be expected to tack on 1.2 more at home against the Texans (owners of a 1544 Elo) and Bills (1478) before Brady returns. That would give them an updated projection of 3.2 wins through the season’s first four games, with an 82 percent chance of going 3-1 or better. What the Patriots could have expected during Weeks 1-4 In other words, the Pats are basically playing with house money now. Through two weeks, they’ve already won almost as many games as they could have reasonably expected to during Brady’s entire ban, and they’ll have plenty of chances for more against the Texans and Bills. Plus, Garoppolo’s injury was less severe than originally believed, so he might return for Week 4, further bolstering New England’s chances. It’s also unclear whether Brissett will play poorly — his numbers in relief of Garoppolo Sunday weren’t horrible (though the Patriots’ lead did erode under his watch).The Patriots’ season could certainly have taken a rotten turn without Brady, given how little we knew about Garoppolo’s skills — and how important the first few weeks of the season are to a team’s playoff chances. But with two wins under their belts, the Patriots have already survived the worst of Brady’s absence. Even though they’re down to a backup’s backup under center, the team Touchdown Tom inherits in Week 5 will likely carry a record he finds familiar. Some teams have all the luck. read more

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