News digest: Market volatility, oil prices, fiscal slippage, and more

From Sebi chief speaking on market volatility to FM Jaitley explaining India's fiscal position, BS brings you up to date with the latest news

Market volatility to continue on hardening of US bond yields: Sebi chief

Securities and Exchange Board of India (Sebi) Chairman Ajay Tyagi on Saturday said the volatility in stocks was likely to continue but added there were no issues with the risk-management systems. He said the ongoing turbulence in the market was due to external factors, such as hardening of US bond yields, which were beyond its control.
 

The Indian market came off by 6 per cent from its all-time high, touched on January 29, amid a sell-off in global equities. (Read more)

Oil prices uncertain, fiscal slippage unlikely, says FM Arun Jaitley

Finance Minister (FM) Arun Jaitley and Reserve Bank of India (RBI) Governor Urjit Patel on Saturday said the movement of oil prices was uncertain. But, the FM was confident that there would be no fiscal slippage next financial year, thanks to buoyancy in revenue.
 

Addressing journalists after the post-Budget interaction between the FM and the RBI board, Patel said decisions of the Monetary Policy Committee (MPC) were forward-looking and not based on the day-to-day inflation rate. (More details)

Maruti Suzuki, other car manufactusrers see no threat from aggregators

Will the automobile industry in India be affected by the onslaught of app-based mobility platform companies? After all, “one cab run through mobility” platforms have the potential of replacing four personal vehicles, say global experts.
 

That is why a study late last year by IHS Markit says that though mobility services companies are buying more cars than before, that would not be enough. (Click here to know why)

Nasa prepares to launch Plan B if commercial space taxis do not take off

The US space agency is working on a novel fallback plan in case new commercial vehicles hit further delays in their schedule to begin ferrying US astronauts into orbit.

Boeing Co. and Space Exploration Technologies Corp., known as SpaceX and founded by billionaire Elon Musk, are expected to start routinely transporting crews to the international space station next year. (Full report)