Month: February 2024

Parliament panel suggests govt to seek 3 years deferment on EU’s carbon tax for MSMEs

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The EU has decided to impose carbon tax — CBAM — from January 1, 2026 on seven carbon-intensive sectors, including steel, cement, and fertiliser. | Photo Credit: PTI India should seek deferment on imposition of carbon tax by the European Union (EU) on engineering sector’s MSMEs by three years as domestic manufacturers may not have…

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Business

White paper on the economy | We rescued the economy from crisis, says government

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Finance Minister Nirmala Sitharaman tables white paper in the Lok Sabha on February 8, 2024. Photo: Sansad TV via ANI As promised in her Interim Budget, Finance Minister Nirmala Sitharaman laid a White Paper on the economy in the Lok Sabha on Thursday, outlining that the UPA’s 10 years in office created “an inheritance of…

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Business

Rupee settles on a flat note at 82.96 after RBI monetary policy decision

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The rupee settled on a flat note at 82.96 (provisional) against the U.S. dollar. | Photo Credit: PTI The rupee settled on a flat note at 82.96 (provisional) against the U.S. dollar on February 8, after the Reserve Bank of India decided to keep the key policy rate unchanged for the sixth time in a…

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Business

Stock markets tumble 1% after RBI monetary policy decision; bank stocks drag

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Benchmark stock indices Sensex and Nifty tanked around 1% on Thursday dragged by selling in banking and auto shares due to increased uncertainty about the timing of interest rate cuts after the RBI’s monetary policy decision. Erasing all its early gains, the 30-share BSE Sensex fell by 723.57 points or 1% to settle at 71,428.43….

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Business

RBI says no systemic worries, action on Paytm due to “persisted non-compliance”

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A QR code for the Paytm digital payment system at a road side stall in Mumbai. | Photo Credit: EMMANUAL YOGINI Reserve Bank Governor Shaktikanta Das on Thursday said there are no systemic worries and the action on Paytm was driven by a “lack of compliance” at Paytm. Deputy Governor Swaminathan J. said the actions…

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Business

RBI pegs FY’25 GDP growth at 7% on improved consumption demand, private capex spends

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Reserve Bank of India Governor Shaktikanta Das. | Photo Credit: PTI The Reserve Bank of India (RBI) on February 8 projected GDP growth for the next financial year at 7% on the back of improved household consumption and upturn in private capex cycle. The real GDP growth is, however, lower than 7.3% estimated by the…

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Business

NASA climate satellite blasts off to survey oceans and atmosphere of a warming Earth

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A SpaceX Falcon 9 rocket on NASA’s Plankton, Aerosol Cloud Ocean Ecosystem (PACE) mission lifts off from Space Launch Complex 40 at the Cape Canaveral Air Force Station in Cape Canaveral, Florida. | Photo Credit: AP NASA’s newest climate satellite rocketed into orbit Thursday to survey the world’s oceans and atmosphere in never-before-seen detail. SpaceX…

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Science

RBI to introduce offline eRupee transactions soon: Shaktikanta Das

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Reserve Bank of India Governor Shaktikanta Das. File | Photo Credit: PTI Digital Rupee users will soon be able to execute transactions in areas with limited internet connectivity as the Reserve Bank of India (RBI) on February 8 announced that offline capability will be introduced on the Central bank digital currency (CBDC) pilot project. RBI…

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Business