eznews.in
Cochin International Airport Ltd (CIAL) is set to become India's first airport to operate hydrogen-powered buses, following a Memorandum of Agreement (MoA) signed between the Kerala Hydrogen Valley Innovation Cluster (HVIC) Foundation and CIAL. The agreement was exchanged by Kerala Electricity Minister K. Krishnankutty and Industries Minister P. Rajeeve, and involves the procurement of three hydrogen fuel cell electric buses as part of the Kerala Hydrogen Valley initiative under the National Green Hydrogen Mission. The K-HVIC Foundation will provide financial support of up to ₹2.90 crore per bus, with a total project budget of ₹8.7 crore. The buses are expected to be operational within 12 months, enhancing passenger convenience while significantly reducing emissions. CIAL will manage the operational aspects, with a green hydrogen plant, developed in collaboration with BPCL, ensuring fuel supply for the buses. 
Published: Feb 02 2026, 4 pmeznews.inAgriculture stakeholders have expressed mixed reactions to India's Union Budget 2026-27, highlighting both opportunities and concerns. The Solvent Extractors’ Association criticized the lack of measures to reduce the country's reliance on edible oil imports, emphasizing the need for urgent policy intervention. Conversely, the Indian Rice Exporters Federation welcomed initiatives aimed at strengthening MSMEs and enhancing technology in agriculture, which could bolster the rice sector's competitiveness. The budget also focused on labour-intensive sectors like textiles, with plans for skill development and infrastructure improvements. However, farmers' organizations raised alarms over the neglect of small farmers, citing high GST on agricultural machinery and insufficient support for natural farming practices. Critics argue that the budget fails to address the pressing needs of the agricultural sector, which employs a significant portion of the population, leaving many stakeholders feeling overlooked.
Published: Feb 02 2026, 5 pmeznews.inThe Automotive Tyre Manufacturers Association (ATMA) has expressed strong support for the Indian government's focus on public capital expenditure and infrastructure development in the recent Union Budget. The substantial increase in public capital expenditure to ₹12.2 lakh crore is seen as a significant boost for long-term demand in the tyre sector, which is closely tied to transport and infrastructure growth. ATMA Chairman Arun Mammen highlighted that the government's commitment to enhancing infrastructure, including roads and urban mobility networks, will drive demand for tyres across all vehicle segments. He noted that investments in transport initiatives, particularly in Tier-II and Tier-III cities, are expected to stimulate consumption and create new opportunities for both replacement and original equipment tyres. However, Mammen pointed out that the unresolved issue of the inverted duty structure affecting tyre manufacturing remains a concern, urging the government to address it to support the Make in India initiative.
Published: Feb 02 2026, 4 pmeznews.inFinance Minister Nirmala Sitharaman announced on Monday that the government plans to introduce the Insolvency and Bankruptcy Code (Amendment) Bill, 2025 during the second half of the Budget session starting March 9. This follows the submission of a report by a parliamentary committee, which aims to enhance the timelines and effectiveness of insolvency proceedings while aligning India's insolvency framework with global best practices. Sitharaman, who also oversees the Corporate Affairs Ministry, indicated that the upcoming bill will incorporate the committee's suggestions. This marks the seventh amendment to the IBC, originally enacted in 2016, which has undergone six previous legislative changes, the last being in 2021. The IBC has significantly altered the debtor-creditor relationship, instilling a sense of urgency among companies regarding insolvency risks. The proposed amendments also include measures to expedite the admission of insolvency resolution applications.
Published: Feb 02 2026, 4 pmeznews.inFinance Minister Nirmala Sitharaman has defended the new taxation rules for Sovereign Gold Bonds (SGBs) and the increased Securities Transaction Tax (STT) on futures and options, emphasizing their intent to protect investors. In a recent interview, she clarified that long-term holders of SGBs will retain tax-free benefits if held until maturity, while those trading in the secondary market will face capital gains taxes. The proposed taxation scenarios include various conditions for tax applicability based on the purchase and redemption timing of SGBs. Sitharaman also justified the STT hike, which raises the tax on futures by 150% and on options by 50%, stating it aims to deter speculative trading that often leads to financial losses for less affluent investors. She reassured that the government is not broadly increasing STT but is focused on protecting vulnerable market participants.
Published: Feb 02 2026, 4 pmeznews.inThe Finance Ministry is considering increasing the foreign direct investment (FDI) cap in public sector banks (PSBs) from 20% to 49%, aligning them more closely with private banks, according to M Nagaraju, Secretary of the Department of Financial Services. While the government's shareholding in 12 PSBs has remained stable since 2020, its percentage ownership has decreased due to new share issuances for capital raising. Nagaraju emphasized the need to boost the credit-to-GDP ratio from 56% to 150%, suggesting a review of capital adequacy and deployment strategies. He noted that India requires 3-4 large banks to compete globally, as only SBI and HDFC Bank rank among the world's top 100 lenders. Additionally, the government plans to invite financial bids for a strategic sale of its 45.48% stake in IDBI Bank, while PSBs are set to launch a qualified institutional placement of shares worth approximately ₹500 billion.
Published: Feb 02 2026, 4 pmeznews.inIIT Bombay has unveiled a groundbreaking silk production method, 'Jeevodaya', which allows silkworms to live out their natural life cycles while producing silk. Supported by Coal India under its Corporate Social Responsibility initiative, this innovative approach trains silkworms to lay silk threads on flat surfaces, eliminating the need for traditional cocoon boiling that kills millions of worms. The project, rooted in the Indian principle of compassion, aims to promote ethical and sustainable silk production while enhancing rural livelihoods. After three years of research and development, Coal India has confirmed the project's success and is now looking to facilitate its wider adoption, which could significantly benefit sericulture farmers and improve their income. The Jeevodaya method reflects a commitment to both animal welfare and sustainable agricultural practices, aligning with the ethos of minimizing suffering.
Published: Feb 02 2026, 3 pmeznews.inIIT-Madras and Daimler India Commercial Vehicles have signed a memorandum of understanding to develop a pioneering universal driver rating system aimed at enhancing road safety in the commercial vehicle sector. This innovative project seeks to fill gaps created by inconsistent standards and weak regulatory frameworks by implementing a data-driven rating system that rewards safe driving and corrects risky behaviour. The initiative will leverage smartphone inputs and sensor data to create a digital public infrastructure for nationwide deployment, facilitating driver assessment, insurance evaluation, and background verification. Project coordinator Gitakrishnan Ramadurai emphasized that the system will not only save lives but also reduce costs for stakeholders. Daimler's CFO, Alexander Schoen, highlighted the collaboration's potential to foster safer roads and a more accountable mobility system in India, benefiting fleet operators, shippers, training institutes, and government agencies in their efforts to improve road safety outcomes.
Published: Feb 02 2026, 3 pmeznews.inIn a significant move, the budget has proposed a one-time measure allowing Special Economic Zone (SEZ) units to sell goods in the Domestic Tariff Area at concessional duty rates, aimed at alleviating the challenges faced by these units amid global market pressures. Shaleen Toshniwal, Chairman of the Manmade and Technical Textiles Export Promotion Council (MATEXIL), expressed optimism that the proposed National Fibre Scheme will enhance competitiveness and support the ambitious export target of $100 billion by 2030. The budget also introduces a Textile Expansion and Employment scheme to modernise traditional textile clusters, providing capital for technology upgrades and testing facilities. Additionally, measures to simplify the Income Tax Act and customs processes, along with the removal of the ₹10 lakh cap on courier exports, are expected to bolster the ease of doing business and encourage MSME exporters to scale up production.
Published: Feb 02 2026, 3 pmeznews.inKerala Chief Minister Pinarayi Vijayan announced plans for a multimodal cargo network centered around Cochin International Airport Limited (CIAL) during the International Cargo Business Summit, celebrating the 25th anniversary of CIAL's cargo department. The initiative aims to integrate air, road, rail, and water routes to enhance Kerala's economic landscape. CIAL, which handled over 65,000 tonnes of cargo last year, anticipates an increase to 74,000 tonnes in the current fiscal year. The airport has also provided a 50% dividend to investors and is recognized as a national model for operational excellence. Additionally, CIAL is constructing three bridges to benefit local panchayats and is in the process of obtaining certification for handling pharmaceutical products. Industries Minister P. Rajeeve highlighted that the establishment of logistics parks by global companies near CIAL will further optimize the airport's cargo capabilities, reflecting the region's growing cargo movement.
Published: Feb 02 2026, 2 pm
For the fastest, latest, not so wokest news, 'experts say' you need to visit Eznews
India
World
Economy
Science
Health
Showbiz
Contact