eznews.inThe Competition Commission of India (CCI) has initiated an investigation into IndiGo Airlines for allegedly abusing its dominant position in the domestic air travel market, following significant flight disruptions last December that affected lakhs of passengers. The CCI's order, issued on Wednesday, directs its Director General to complete the investigation within 90 days. The inquiry revealed that passengers faced last-minute cancellations and were forced to seek alternative travel options at inflated prices, indicating a potential violation of competition laws. The CCI noted that IndiGo's widespread flight cancellations created an artificial scarcity of services, limiting consumer access during peak demand periods. IndiGo has contested the CCI's jurisdiction, arguing that such issues should be addressed by the Directorate General of Civil Aviation or under the Consumer Protection Act. However, the CCI maintains that the disruptions impacted the entire domestic air travel market, warranting a comprehensive investigation. 
Published: Feb 04 2026, 9 pmeznews.inThe United States has been urging India to halt its imports of Russian crude oil in an effort to limit Moscow's revenue amid the ongoing war in Ukraine. In response, Russia's Ministry of Foreign Affairs reaffirmed its commitment to maintaining strong cooperation with India in the hydrocarbons sector, emphasizing that India's purchases are mutually beneficial and stabilize the global energy market. Despite U.S. assertions that India has agreed to cease these imports, the Indian government has not officially confirmed any such decision. Sources indicate that India plans to continue buying Russian oil from non-sanctioned entities, with imports expected to remain stable at around 1.1 to 1.3 million barrels per day in the near term. Analysts suggest that while Indian refiners could technically operate without Russian oil, a swift disengagement would pose significant commercial and political challenges, necessitating a gradual approach to any policy changes.
Published: Feb 04 2026, 10 pmeznews.inThe Special Assistance to States for Capital Investment (SASCI) scheme is set for potential reforms aimed at enhancing telecom networks, according to Expenditure Secretary V. Vualnam. In an interview, he highlighted that while ₹1.5 lakh crore was allocated for SASCI this fiscal year, approximately ₹1 lakh crore has been disbursed, with full utilisation expected by March 31. The upcoming FY27 allocation will increase to ₹2 lakh crore, but the 60:40 reform-to-untied fund ratio will remain unchanged, emphasizing the necessity for states to implement reforms. New areas for reform, including telecom sector regulations, are under consideration to facilitate smoother network expansion. Additionally, the Viksit Bharat–Guarantee for Rozgar and Ajeevika Mission (Gramin) requires over ₹1.52 lakh crore, with states expected to contribute more than ₹57,000 crore, despite some citing resource constraints. Vualnam expressed confidence in states' commitment to meet these funding and implementation challenges.
Published: Feb 04 2026, 9 pmeznews.inThe Cotton Association of India (CAI) has expressed strong support for the recent resolution of the tariff dispute between India and the United States, which has seen the import duty on Indian textiles reduced to 18%. CAI President Vinay N. Kotak hailed this development as a significant step towards enhancing bilateral trade and fostering a more robust India-USA trade relationship. The US is a key trading partner for India in the textiles sector, and the establishment of predictable trade policies is deemed crucial for long-term planning and competitiveness. The reduction of tariffs from as high as 50% is anticipated to alleviate cost pressures, improve market access, and stimulate demand for Indian products, ultimately benefiting all stakeholders in the cotton and textile value chain, including farmers, manufacturers, and exporters. This change is expected to revive optimal capacity utilization across the industry.
Published: Feb 04 2026, 9 pmeznews.inSugar production in Uttar Pradesh, India's largest sugarcane-producing state, has seen a decline for the first time this season, with January output dropping to 19.45 lakh tonnes from 20.1 lakh tonnes last year. Industry experts predict a yield reduction of 15-20% in ratoon crops, while the yield for the plant crop remains uncertain. Farmers report yield drops of up to 30% for ratoon crops and 10% for fresh crops, attributed to adverse weather conditions, particularly summer rains. Vijay S Banka, President of the UP Sugar Mills Association, noted that production this year will align with last year's figures. Currently, 119 mills are operational, although Bajaj Group's Pratappur mill has ceased operations due to cane shortages. Nationally, sugar production is projected to decrease slightly in the 2025-26 season, with Uttar Pradesh expected to produce 103.2 lakh tonnes, despite a 3% drop in acreage.
Published: Feb 04 2026, 8 pmeznews.inThe Information and Broadcasting Ministry has reported to the Lok Sabha that the Central Board of Film Certification (CBFC) has certified 71,963 films from 2020-21 to 2024-25, following the implementation of an Online Certificate System. This system has reduced the average certification time to 18 working days for feature films and just three days for short films, significantly below the 48-day limit set by the Cinematograph (Certification) Rules, 2024. The Ministry emphasized that cuts or modifications to films are only recommended if content breaches statutory parameters related to national integrity, public order, or morality. Additionally, the Ministry highlighted the availability of a multi-level grievance redressal mechanism for applicants, allowing appeals to a Revising Committee or High Court. The government remains committed to a transparent certification process that balances creative freedom with legal obligations under the Cinematograph Act.
Published: Feb 04 2026, 8 pmeznews.inSundeep Mohindru, Founder and Promoter of M1xchange, has expressed optimism regarding the Indian government's recent announcement of a ₹10,000 crore SME growth fund and a ₹2,000 crore top-up to the self-reliant Indian fund. He highlighted that these funds, allocated to private equity and venture capital firms, will significantly enhance equity capital access for small and medium enterprises (SMEs), which often struggle to secure such funding. Mohindru noted that nearly 100 Central Public Sector Enterprises (CPSEs) are already registered on the TReDS platform, which facilitates invoice discounting for suppliers. He emphasized the importance of increasing awareness among suppliers to maximize participation in this system. Furthermore, he anticipates a substantial uptick in invoice financing as the integration of the Government e-Marketplace (GeM) with TReDS is expected to streamline payment processes, potentially boosting transaction volumes from ₹1.25-₹1.30 lakh crore to ₹1.75 lakh crore in the next fiscal year.
Published: Feb 04 2026, 8 pmeznews.inA recent report warns that the increased cigarette prices, effective February 1, could exacerbate the illicit cigarette trade and strain tax revenues. The hike, resulting from an additional excise duty and health cess on tobacco products, has raised prices by ₹22 to ₹25 per pack. Artha Arbitrage Consulting, presenting the findings at a New Delhi event, highlighted that the tax increase could lead to a 39% rise in illegal tobacco consumption, pushing total illicit sales to over 46 billion sticks. This surge threatens legitimate tobacco growers and could result in a 20% reduction in Flue-Cured Virginia (FCV) crop offtake, costing approximately 2.6 million man-days of employment in agriculture and related sectors. The report also noted that the FCV tobacco sector has faced disproportionate taxation, contributing to a decline in growers and acreage, further jeopardizing livelihoods amid an already challenging employment landscape in India.
Published: Feb 04 2026, 8 pmeznews.inIndiGo has announced significant cuts to its European and Central Asian flight services due to ongoing airspace restrictions that have disrupted its schedules. The airline will reduce flights from Delhi to Manchester and London starting this month and suspend its Mumbai-Copenhagen route from February 17. These changes come as Pakistan's airspace has been closed to Indian carriers since April, compounded by heightened tensions in West Asia prompting avoidance of Iranian airspace. IndiGo has been operating its European flights using wet-leased Boeing 787 aircraft, but the evolving geopolitical landscape and airport congestion have led to increased flight times and operational strain. To mitigate customer inconvenience from delays and misconnections, IndiGo is implementing immediate measures to enhance on-time performance. Additionally, flights to Central Asian cities, including Almaty and Tbilisi, have been cancelled until February 28 due to the situation surrounding Iran.
Published: Feb 04 2026, 8 pmeznews.inTruAlt Bioenergy Ltd's shares fell by 4.38% to ₹385 on the National Stock Exchange on Wednesday, following the company's financial report for the quarter ending December 2025. The firm recorded an 8% decline in profit after tax (PAT) at ₹69.19 crore, down from ₹75.19 crore a year earlier, despite a significant 70% increase in income to ₹730.86 crore. For the nine-month period, net profit decreased by 9% to ₹3.03 crore, while income rose by 13% to ₹1,189 crore. Managing Director Vijay Nirani highlighted the company's progress in operational stability and earnings quality, noting the commissioning of Unit 5, which positions TruAlt for year-round operations. The ethanol segment achieved over 95% capacity utilization, and the company plans to expand its CBG units and advance its Sustainable Aviation Fuel initiatives, including a licensing agreement with Honeywell UOP.
Published: Feb 04 2026, 7 pm
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