Biz EOD: CAG picks holes in daily fuel pricing system; MeitY coochy-coos Koo

Apex auditor Comptroller and Auditor General of India (CAG) has found that the daily pricing system for petrol and diesel has been far from perfect until recently. Hailed to be the Indian alternative to popular social network Twitter, home-grown Koo has gained traction over the last few days. Read for more top stories from the world of business and economy:

1. CAG picks holes in daily fuel pricing system; says petrol pumps overcharge

The audit showed that there were 3,463 instances in 91 out of 188 outlets (Indian Oil - 40, Hindustan Petroleum -35 and Bharat Petroleum -16) when dealers were not prompt in changing the prices at the prescribed time of 6 am.

2. Air India sale: Govt gets a surprise bid for national carrier, who's it?

Pawan Ruia, chairman of Ruia Group has submitted an EoI (expressions of interest) to buy a 100% stake in the embattled national carrier.

3. MeitY coochy-coos KOO - India's alternative to Twitter

Claimed to be microblog for Indians who prefer Indian vernacular languages, KOO was one of the winners of government's Aatmanirbhar Bharat App Innovate Challenge.

4. SC asks CBDT to decide on exemption to NRIs from paying income tax

Several NRIs, stuck in the country due to Covid-19 travel restrictions, have been seeking relief from paying income tax under the residency criteria.

5. Investors happy but households give thumbs down to Budget: CMIE

CMIE observes households expressed displeasure as a week after budget, Index of Consumer Sentiments fell 4.2%; budget may or may not be reason for household perceptions to worsen but sentiments have worsened after it, it adds.