What is it? The number of Indians who have allegedly set up offshore entities in tax havens such as British Virgin Islands, Bahamas, Seychelles and Panama.
Why is it important? Indicates a means of tax avoidance and possibly, money laundering. According to the analysis, most of the offshore entities were set up before the rules allowed individuals to set up subsidiaries or invest in joint ventures abroad.
Tell me more: The list of Indians includes movie stars (Amitabh Bachchan, Aishwarya Rai Bachchan), politicians (such as Anurag Kejriwal, the former chief of the Delhi unit of Loksatta Party) and businessmen (DLF owner KP Singh, elder brother of Gautam Adani, founder chairman of the Adani Group). This is according to an analysis of the 11 million leaked documents of a Panama law firm by the Indian Express.
Rs 16,000 crore
What is it? Amazon India’s authorised capital, the maximum capital a company can raise by selling its shares.
Why is it important? At double the earlier amount, it exceeds its $2 billion (over Rs 13,000 crore) commitment made by Jeff Bezos in 2014. This puts tremendous pressure on its rivals Flipkart and Snapdeal, which has to depend on VC funding to grow its business.
Tell me more: Amazon India’s market share in terms of gross merchandise value was 12% in 2015 while that of its rivals Snapdeal and Flipkart was 26% and 45% respectively, according to Morgan Stanley.
What is it? India’s expected combined fiscal deficit, i.e, excess of expenditure over receipts of the centre and states, as a percentage of GDP in 2016-17, according to HSBC.
Why is it important? The ratio is same as in 2015-16. Bringing down fiscal deficit is key to improving credit ratings and to bring down interest rates, which are essential to boost India’s tepid economic growth.
Tell me more: The aggregate fiscal deficit of 17 states is likely to be higher at 2.9% of GDP in 2016-17 compared with 2.7% in 2015-16 due to the twin components of Seventh Pay Commission payouts and their interest bills on UDAY (financial turnaround and revival of power distribution companies) bonds.
What is it? The number of orders Tesla Motors Inc has received for its new Model 3 electric sedan since March 31.
Why is it important? If all these orders were converted into actual purchases, Tesla would earn $10 billion in revenues, which is 2.5 times its revenues last year. But some analysts say the company may find it difficult to ramp up its production to match the orders for its first mass-market car, potentially delaying delivery to customers.
Tell me more: Tesla, which posted net loss of $889 million in 2015, expects to turn profitable by the end of 2016.
What is it? The spectrum usage charges of telecom companies as a percentage of adjusted gross revenues, down from 5% earlier.
Why is it important? This is likely to result in savings of Rs 3,200 crore for telecom companies, which are reeling under massive debts of Rs 3.5 lakh crore on revenues of around Rs 2.2 lakh crore. It remains to be seen if this cut brings down mobile and broadband charges.
Tell me more: The next spectrum auctions are scheduled for July when the government would sell over 2,000 MHz of spectrum across seven frequencies.