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News wrap: BJP wins Delhi, RBI’s 25 bps repo rate cut, cabinet nods I-T bill, Zomato renamed, Trump bans trans athletes
News wrap: From February 2 to 8, significant events occurred, including the BJP's victory in the Delhi Assembly Elections and the RBI's repo rate cut to 6.25%.
News wrap: This week, from February 2 to February 8, witnessed a series of major events, whether it is Delhi Assembly Election results or Reserve Bank of India's repo rate cut. The Bharatiya Janata Party won the Delhi Elections 2025 after nearly 27 years. Meanwhile, the RBI announced a repo rate cut by 25 bps to 6.25% after nearly five years.
In a seperate development related to the world of personal finance, the proposed Income Tax bill received cabinet nod this week. The new I-T bill may be presented in the parliament on Monday.
The online food aggregator Zomato announced to rename its parent company to ‘Eternal’. In the United States, President Donald Trump signed an executive order to ban trans athletes from women sports. Here are all the news updates from this week.
Key events that took place between February 2 to February 8
RBI repo rate cut
In his first policy announcements, RBI governor Sanjay Malhotra, on Friday, said that the Monetary Policy Committee (MPC) had unanimously decided to reduce the policy rate by 25 basis points (bps) from 6.5 per cent to 6.25 per cent. (Read full story here)
While making the announcement, Malhotra expressd optimism over expansion in trade. At the same time, he stressed the impact of global economic landscape on India. The MPC began its three-day meeting to discuss and set the new interest rates on February 5, 2025.
BJP's victory in Delhi Elections
The BJP registered a historic victory in Delhi on Saturday after defeating AAP. The saffron party comfortably achieved the majority mark after winning 48 out of 70 assembly seats in Delhi on Saturday.
Most of AAP's top leaders, including Arvind Kejriwal, Manish Sisodia, etc, lost from their constituencies on Saturday. The former Delhi chief minister was defeated by BJP's Parvesh Verma from New Delhi constituency.
I-T bill gets cabinet nod
The Union Cabinet, in a meeting chaired by Prime Minister Narenda Modi, approved the new income tax bill on Friday, February 7. The new I-T bill was announced by Finance Minister Nirmala Sitharaman during her Union Budget 2025 speech. The new I-T bill will replace the six decades old I-T Act.
The new bill seeks to make direct tax law simple to understand and not to impose any new tax burden. It will not have provisos and explanations or long sentences. The new I-T bill will be introduced in the Parliament next week, reported ANI citing sources.
Zomato renames parent company to ‘Eternal’
Online food delivery giant, Zomato, on Thursday, announced to rename its parent firm to “Eternal”. The company also unveiled a new logo.
After the announcement, the parent company of Zomato, Blinkit, Hyperpure, and District, has been renamed to Eternal Ltd. The move has come reportedly two years, after it began using the new name internally, said Zomato CEO Deepinder Goyal.
PM Modi takes tip at Sangam during Mahakumbh 2025
Prime Minister Narendra Modi took holy dip at Triveni Sangam during his visit to Prayagraj, Uttar Pradesh on Wednesday, February 5. He was accompanied by UP CM Yogi Adityanath.
The prime minister was dressed in a deep orange jersey and blue lowers while taking dip in Sangam. Later, he also performed arti at the ghat.
Donald Trump bans trans athletes from female sports
US President Donald Trump on Wednesday signed an executive order to prohibit the participation of transgender athletes in women's sports. The recent move aligns with his previous orders to reverse former US president Joe Biden's gender diversity programs.
"From now on women's sports will be only for women," Trump said before he signed the order at the White House, surrounded by dozens of children and female athletes. “With this executive order the war on women's sports is over,” he added.
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Business NewsNewsIndiaNews wrap: BJP wins Delhi, RBI’s 25 bps repo rate cut, cabinet nods I-T bill, Zomato renamed, Trump bans trans athletes
First Published:9 Feb 2025, 02:16 PM IST
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