 "Food, Vegetables, Inflation")
India makes history: Chandrayaan-3 touches down on the moon's south pole
After 18 minutes of intense anxiety, India made history on Wednesday by becoming the fourth country — after the former USSR, the US, and China — to soft-land on the moon through the completion of its Chandrayaan-3 mission. This was days after a Russian expedition to the moon failed. At the Mission Operations Complex (MOX) at the Indian Space Research Organisation’s (Isro’s) Telemetry, Tracking, and Command Network in Bengaluru, there was huge applause, with national flags being waved. Some scientists were thumping their hands, while others were in tears after tense moments in the final stage of landing, which lasted around 18 minutes, in four stages. One could even see scientists chanting prayers on the memorable moment. The air at the media gallery and the headquarters of Isro was rent with chants of “Bharat Mata Ki Jai”. Read more
Tax dept plans to reduce average time taken for issuing refunds to 10 days
The revenue department is working on a mechanism to cut the average period of processing and issuing tax refunds to 10 days from 16 now. The new timeline is expected to be enforced this financial year. “In 2022-23, the average time taken for processing tax returns was 16-17 days. It was 26 days in the preceding year, 2021-22. Now we are looking at processing tax returns in 10 days and issuing refunds simultaneously,” a government official told Business Standard. Read more
Vegetable prices might ease from September led by tomato: RBI Governor Das
Vegetable rates may ease from September, led by tomato prices, which have started showing signs of correction on the back of increased supply, Reserve Bank of India (RBI) Governor Shaktikanta Das said on Wednesday. “Looking ahead, the spike in vegetable prices in July is starting to see a correction, led by tomato prices. New arrivals of tomatoes in mandis are already softening the prices, coupled with proactive supply management in the case of onions. We expect to see an appreciable slowdown in vegetable inflation from September,” said Das, while delivering the 29th Lalit Doshi Memorial Lecture. Read more
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Space rickshaw to funding: Startups aim for the moon after Chandrayaan-3
Moon is the new limit for startups. From supporting the country’s lunar mission to setting up global technology partnerships, the Indian space startup ecosystem has set ambitious goals after the success of Chandrayaan-3. Space startups Skyroot Aerospace, Pixxel and AgniKul Cosmos and investors like growX Ventures are betting on the ecosystem, aiming to achieve new heights with their innovations. Read more
Pest attack chances could grow if monsoon weakens; feel industry players
The long dry spell in August, which was broken recently, is adding to farmers’ woes as the crops have become vulnerable to pest and insect attacks, and this may result in loss of yield or higher expenditure. According to industry players, crops such as cotton, paddy, and to some extent, pulses are most vulnerable to pests and diseases if the monsoon remains patchy for the rest of the season. Read more
