BUSINESS
Bezos sues NASA over awarding Moon lander contract to Musk
The US space agency was expected to pick two lunar lander prototypes (including one of Blue Origin's) but funding cut from US Congress led the agency to select SpaceX over Blue Origin. According to a report in The Verge on Tuesday, a spokesperson for Blue Origin called the lawsuit "an attempt to remedy the flaws in the acquisition process found in NASA's Human Landing System".
India's wholesale price inflation sequentially eases to 11.16% in July
Accordingly, the annual rate of inflation, based on wholesale prices, rose to 11.16 per cent last month from 12.07 per cent in June. However, on a year-on-year (YoY) basis, the Wholesale Price Index (WPI) data furnished by the Ministry of Commerce and Industry has risen exponentially over July 2020. The inflation rate had stood at (-)0.25 per cent in July 2020.
Petrol, diesel prices complete a month without any revision
Accordingly, in the national capital, petrol continues to be sold for Rs 101.84 per litre, while diesel is also being sold at the unchanged price of Rs 89.87 a litre on Monday. Across the country as well, fuel prices remained unchanged providing some relief to the consumers already feeling the heat of higher inflation that has raised prices of several other commodities including food items.
Sell only electric 2-wheelers in India post 2025, says Ola Chairman
In a blog after the launch of Ola's electric scooters, Aggarwal announced 'Mission Electric'. "We are taking this moment to announce 'Mission Electric', a pledge that no petrol two-wheeler will be sold in India after 2025. This is a mission that we are putting forward to the industry and to the consumers to reject petrol and fully commit to electric.
Faceless assessment to ensure robust, transparent system: CII Survey
Around 88 per cent of respondents feel that faceless assessments will help realise the government's objective of reducing interface and reducing undesirable practices on the part of tax officials. On the completion of one year of the faceless assessment scheme, CII conducted a survey to gauge industry views on the effectiveness of the scheme, which revealed overwhelming support for the new system.
FPIs invest Rs 2,085 cr in Indian equities so far in August
The FPIs have made a comeback after a net outflow of Rs 11,308 crore in July. With the investments in August, the net FPI investment in the equities segment in 2021 now stands at Rs 51,121 crore. The week-ended Friday witnessed surge in the Indian equity market with both the BSE Sensex and the Nifty50 on the National Stock Exchange touching new highs.
OMCs continue to hold petrol, diesel prices as global crude rates ease
On Sunday, petrol price in the national capital continued to be sold for Rs 101.84 per litre, while diesel is also being sold at the unchanged price of Rs 89.87 a litre. Across the country as well, fuel prices remained unchanged providing some relief to consumers already feeling the heat of higher inflation that has raised prices of several other commodities including food items.
Energy Security: PM Modi announces National Hydrogen Mission
Delivering his Independence Day speech, the Prime Minister stressed on the need for energy independence and said that the plan involves India becoming a global hub for green hydrogen production and exports. He said that among all the programmes being carried out today in the country, the one which would help India make a large leap is the area of green hydrogen.
Shift to e-mobility inevitable for India: Grant Thornton-Ficci
The report cited factors such as increasing government support, decreasing cost of technology, growing interest of the country in EVs, distressing pollution levels, would accelerate India's transition to EVs. The Centre is planning to massively increase the share of EVs by 2030, with two-wheeler penetration for the segment being targeted to reach 35 per cent,
Higher pvt spending required to spur growth in 2020s: Report
The MOFSL research note cited limitations in government revenues to support growth in the decade ahead. Moreover, the Centre has provided a revised fiscal roadmap to bring down its deficit from 9.5 per cent in FY21 to 6.8 per cent of GDP in FY22 and further to 4.5 per cent of GDP by FY26. Notably, government spending is seen as a major catalyst for economic growth over the next few years.
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