Narendra_Modi_congratulates_N._Chandrababu_Naidu_Good_for_his_party's_performance_in_local_elections

BJP May Have AP Problem

 

2,208

What is it? The number of dollar billionaires who made it to the 32nd edition of the annual ranking of the world’s billionaires by Forbes magazine, released Tuesday night.

Why is it important? The combined net worth of these 2,208 people is $9.1 trillion, up 18% from a year ago. This comes at a time when inequality is increasing in the world: between 1980 and 2016, the top 1% of income earners—a set in which these billionaires will feature—captured 27% of growth, while only 12% went to the bottom 50%.

Tell me more: Amazon founder Jeff Bezos is the richest man in the world ($128 billion) and Mukesh Ambani is the richest in India ($39 billion).

 

$84.4 billion

What is it?  The value of bilateral trade between India and China in 2017.

Why is it important? This is the highest ever figure in a year for Indo-China trade, and is a growth of 18.7% over the $71.1 billion recorded in 2016. This comes in the backdrop of the two countries clashing over the Doklam issue and the China-Pakistan Economic Corridor, which shows how economic relations can be a equaliser. India’s exports to China increased 39% to $16.3 billion, while India’s imports from China grew 14.6% to $68.1 billion.

Tell me more: However, the bilateral trade figure is short of the $100 billion target set by the two countries in 2012 for 2015.

 

404 days

What is it? The number of days after which Serena Williams, one of the most decorated tennis players of all-time, is returning to the women’s tour.

Why is it important? Williams is returning to top-flight tennis at the age of 36 years and about six months after giving birth. She is challenging templates of how sportswomen tend to be viewed on choices revolving around gender and age.

Tell me more: She was scheduled to play her first match at 8.30 am IST on March 8, International Women’s Day. Williams last played at the 2017 Australian Open, which she won and later discovered she did so while being eight weeks pregnant.

 

25

What is it? The number of MPs that Andhra Pradesh (AP) sends to the Lok Sabha.

Why is it important? Late on Wednesday night, the Telugu Desam Party, which currently rules AP and is also a partner to the BJP in the National Democratic Alliance (NDA), said it was pulling out its two Central ministers. Its action came in the backdrop of finance minister Arun Jaitley ruling out awarding ‘special status’ to AP. At present, of the 25 MPs, 17 are from TDP and BJP, and this break-up poses an issue for BJP for the 2019 elections.

Tell me more: For centrally sponsored schemes, the Centre pays 90% of the funds required for ‘special status category states’, against the 60% norm.

 

Rs 34,800 crore

What is it? The upfront payment that Tata Steel has reportedly offered to make to banks, among other things, to buy a controlling stake in Bhushan Steel, which is currently in bankruptcy proceedings.

Why is it important? On Wednesday, in a filing with stock exchanges, Tata Steel said it had been “identified as the highest evaluated compliant resolution applicant”, or the frontrunner, to acquire Bhushan Steel. On Wednesday, in a broad market that was down 0.9%, the Tata Steel stock fell 2%.

Tell me more: If Tata Steel does bag Bhushan Steel, it would be Tata Steel’s first large acquisition since its challenging experience with Corus in 2007.

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The Lowest Wheat Output In Three Years

5 years

What is it? The jail term for former Bangladesh Prime Minister Khaleda Zia after being found guilty in a corruption case.

Why is it important? Zia heads the main opposition party, which has bitter rivalry with Prime Minister Sheikh Hasina, and there are fears violence might return to Bangladesh. Political demonstrations by Zia’s Bangladesh Nationalist Party and her islamist allies in 2014 and 2015 left 200 people dead.

Tell me more: Human Rights Watch (HRW), a not-for-profit group, called for an end of arbitrary arrests of opposition party members who are protesting against the verdict. “The Bangladesh government’s claims to be open and democratic ring hollow as it cracks down on political dissent,” HRW said.

 

Rs136 crore

What is it? The amount of fine imposed against Google by India’s antitrust body for skewing search results in favour of its travel search engine.

Why is it important? This could provide level playing field for companies that operate in one area like travel against Google’s own offering (Google Flights). Competition Commission of India announced the decision on Thursday, with 4 members supporting the order and two writing a dissent note. 

Tell me more: European Union had imposed a record $2.7 billion fine against Google for similar practices – demoting rival’s and promoting its own product in search results – in June last year.

 

Rs250 crore

What is it? A company with turnover up to Rs250 crore is eligible to classified as medium-sized enterprise, as per new definition for micro, small and medium enterprises (MSME).

Why is it important? It is likely to bring many enterprises under the definition of MSME. At present, enterprises self-declare whether they are a MSME based on investments made. For example, investments up to Rs 10 crore in manufacturing sector (Rs 5 crore in services sector) is considered a medium enterprise. Now the classification will be based on turnover, which can be cross-verified from the Goods and Services Tax filings.

Tell me more:  Enterprises with turnover up to Rs5 crore and between Rs5 and Rs75 crore  will be classified as micro and small enterprises.

 

Rs24,000 crore

What is it? The fair value of Bhushan Power and Steel Ltd as estimated by the resolution professional.

Why is it important? Bhushan Steel is one of the 12 large bad loans referred under India’s new bankruptcy code for faster resolution. The unlisted company owes Rs37,000 crore to lenders. India’s top two steel makers, Tata Steel and JSW Steel, have submitted their bids to buy Bhushan Steel. The bid amount was not known.

Tell me more: The bids will be evaluated by lenders and the amount of loss incurred by banks will be closely watched to see how the new bankruptcy code is working.

 

92 million tonnes

What is it? Estimated wheat output for the year 2017-18.

Why is it important?  It will be lowest wheat output in three years, if estimate matches actual output, and it could it increase imports by 40%. Inconsistent and low rainfall, combined with a lower acreage under wheat, down to 30.1 hectares from 30.8 million hectares are reasons for low output.

Tell me more: India is second largest wheat producer after China, but the Asia’s third largest economy has been a wheat importing nation, importing wheat ever year since 1960.

 

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