Opinion | Krugman Wonks Out: Why Doesn’t Cutting Taxes on the Wealthy Work?
By Paul Krugman
Rockies podcast: Reasons to smile during Colorado’s ugly 2021 season
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‘April GST collections may go up to ₹1.2 lakh cr.’
E-way bills will cross 5.5 cr.: SBI report
Goods and Services Tax (GST) collections are likely to remain robust at about ₹1.15 lakh crore to ₹1.2 lakh crore in April, despite the spate of lockdowns across the country, SBI said in a report on Friday, ahead of the official GST revenue data expected on May 1.
GST collections have clocked more than ₹1 lakh crore for six months in a row, with a record ₹1.24 lakh crore flowing into the exchequer’s coffers in March.
“Our internal simulation model indicates that Apr’21 GST collections will be in the range of ₹1.15-1.20 lakh crore. This will be quite impressive given the fact that during the April month most of the States imposed partial lockdowns and this move is expected to hamper economic momentum,” SBI group chief economic adviser Soumya Kanti Ghosh said in the report, citing the e-way bills for the month as another justification.
“It is heartening to note that despite the curbs due to the second wave, the All India GST E-way bills till April 25 have reached 4.89 crore and we estimate it to cross 5.5 crore comfortably, given the past trends,” he said.
Last year, at the peak of the lockdown in April and May 2020, only 0.9 crore and 2.5 crore e-way bills were generated, respectively. In March this year, when GST collections peaked at ₹1.24 lakh crore, 7.1 crore e-way bills were generated.
The True Cost of Closing the Racial Wealth Gap
Policies like forgiving debt for all student loans and giving baby bonds to the whole population won’t be nearly enough to achieve racial wealth parity, an economist says.
By William Darity Jr.
Eww, That’s Gross. And We Like It That Way.
Why the tasteless humor of “Bad Trip,” starring Eric Andre, is a feat to be celebrated. Few can pull off transgression so skillfully.
By Jason Zinoman
‘COVID-19 curbs to delay multiplexes’ recovery’
Sector may recoup only in FY23: Crisil
Localised lockdowns and night curfews amid the newer wave of COVID-19 are set to take a toll on multiplexes in the country, and companies in this sector will report operating losses for the second consecutive year, a report said on Friday.
The sector, arguably one of the worst impacted by the pandemic, can look at a recovery only in the next financial year, the report by domestic credit rating agency Crisil said.
Crisil reminded that multiplexes were the first ones to close in March 2020, even before a lockdown was announced, and the last to resume operations in October.
Occupancies had started improving post-resumption and was expected to reach 18-22%, the breakeven level in terms of operating profit, in the current quarter, the agency said.
However, the recent spike in COVID-19 cases will send the estimate of a recovery asked and defer recovery to the second half of this fiscal, the rating agency said.
“A full recovery is seen only in fiscal 2023,” Crisil added.
Comfort Viewing: 3 Reasons I Love ‘Inside No. 9’
The comic British anthology series, now streaming on HBO Max, depicts a weird and varied world that also manages to feel familiar.
By Amber Petty
TSA expected to extend mask requirement for air travel through much of the summer
The Transportation Security Administration is expected to extend a requirement that air travelers wear masks in airports and during flights for several more months, people familiar with the matter said.
An announcement could come as early as Friday and could extend the requirement, which had been set to expire May 11, until mid-September, the people said.
The TSA didn't immediately comment.
The agency started requiring people wear masks in airports and during flights on Feb. 2, following an order from the Centers for Disease Control and Prevention. Airlines have required passengers wear masks for much of the past year as Covid-19 continued to spread. Carriers have banned more than 2,000 passengers for failing to follow mask requirements.
About half of U.S. adults are at least partially vaccinated, according to federal data. Airline executives have reported higher bookings since vaccines have rolled out and more tourist attractions reopen.
2021 NFL draft: Live stream, how to watch Rounds 2 and 3, time, everything you need to know
The first round of the 2021 NFL draft is in the books and will move ahead to the second and third rounds on Friday night.
The draft opened as everybody had expected, with the Jacksonville Jaguars selecting Clemson quarterback Trevor Lawrence with the No. 1 overall pick. In all, five quarterbacks were selected in the first round.
From a fan standpoint, this year's draft is projecting a return to normalcy, as the NFL set up with its massive stage contiguous to Cleveland's Rock & Roll Hall of Fame and the Browns' FirstEnergy Stadium on the shores of Lake Erie.
USA TODAY Sports will have live updates and analysis of all of the news from the event, including an up-to-the-minute tracker breaking down every pick in real time.
2021 NFL DRAFT PICKS: Team-by-team look at all 259 selections
DRAFT TRACKER: Analysis on every pick in the first round
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