Supply Hit, Prices Soar


What is it? The number of farmer outfits that are participating in a 10-day agitation led by Rashtriya Kisan Mahasangh, which entered the third day on Sunday.

Why is it important? The nationwide stir has resulted in an increase in the prices of perishables such as milk and vegetables in some cities of Punjab, Haryana and Madhya Pradesh. In Maharashtra, the All India Kisan Sabha has threatened to stop the supply of vegetables and milk from June 7 if their demands such as a complete farm loan waiver, minimum support price for their produce and the implementation of the recommendations of the Swaminathan Commission, are not met.

Tell me more:The agrarian crisis is also snowballing into a bigger challenge for the ruling BJP, which is seeking a second term at the Centre. Congress President Rahul Gandhi has said he will participate in a protest at Mandsaur in Madhya Pradesh, where six farmers were allegedly killed in police firing last year, on Wednesday.


What is it? The number of firms that have resigned as auditors of companies mid-term so far this year.

Why is it important? This is already over four times such resignations in the whole of 2017, indicating that auditors are reacting to the stricter regulatory environment that involves a modified Companies (Amendment) Act, 2017. One of the main changes to this law includes the proposed setting up of National Financial Reporting Authority as an independent regulator for the auditing profession. The entity has powers to investigate matters of professional misconduct by chartered accountants or CA firms, prohibit them for a period of up to 10 years and impose penalty.

Tell me more: Recently, Deloitte and Price Waterhouse Chartered Accountants resigned as the auditors of Manpasand Beverages and infrastructure firm Atlanta saying they refused to divulge some key information.


What is it? The number of parties– Congress, Bahujan Samaj Party (BSP) and Gondwana Ganatantra Party – that have reportedly formed an alliance ahead of the upcoming polls in Madhya Pradesh.

Why is it important? Congress is looking to replicate its Karnataka success where it recently formed the government with JD(S). Mayawati’s BSP has been steadily polling 7% of votes in the last two decades in Madhya Pradesh and with Congress’ nearly 37% vote share in the last state elections, it can be a formidable force against the BJP where it polled 45% and faces an anti-incumbency wave after being in power for three terms.

Tell me more: Congress is also looking to stitch a wider alliance with BSP in Rajasthan and Haryana where the latter has been getting 5% and 4% in vote share respectively.


What is it? The percentage of women, who are detected with early stage breast cancer, that need not undergo chemotherapy.

Why is it important?An existing genetic testing, which measures activity levels of 21 genes to understand how aggressive cancer is, is enough to determine whether chemotherapy is needed or not. At present, women receiving low score (less than 10) are not given chemotherapy and those with high scores (above 26) are told to undergo chemotherapy. Those with intermediate scores were also given the aggressive treatment. The research study found survival rates for those intermediate score were same for those who had chemotherapy and those who didn’t.

Tell me more:Early stage cancers are the ones which haven’t spread to the lymph nodes and does not have the HER2 mutation, an indicator of whether the cancer will grow aggressive or not.

Rs24,000 crore 

What is it? Cash deposited by 73,000 deregistered companies, after demonetisation was announced in November 2017.

Why is it important? The cash deposit is being investigated for potential black money link by the Serious Fraud Investigation Office and the Registrars of Companies. If proven that these companies have helped to convert illegal money or acted as conduit to avoid taxes, it will bolster government’s effort to curb black money in Asia’s third largest economy.

Tell me more:Two months prior to demonetisation announcement, the government deregistered more than 200,000 companies for failing to file regular returns with Ministry of Corporate Affairs.

Read More