What is it? The amount of copper produced annually by Vedanta India’s copper smelting plant in Tuticorin.Tamil Nadu government on Monday asked the plant to shut down permanently, citing larger public interest.
Why is it important? This will negatively impact around 800 small and medium units that make electrical wire and transformers that use copper as input. The Tuticorin unit accounted for 40% of India’s output, as per a report by ratings agency ICRA. Hindalco, another private company, and Hindustan Copper Limited,a state-run entity, produce 500,000 and 90,000 tonnes of copper respectively.
Tell me more: Protest against the Vedanta’s copper smelting unit in Tuticorin turned violent last Tuesday. Police firing on protestors has so far killed 15 people.
What is it? The replacement rate of Voter Verifiable Paper Audit Trail (VVPAT)device in Kairana Lok Sabha elections held on Monday.
Why is it important? The number is much higher than acceptable failure rate of 5% for these machines which are attached to the Electronic Voting Machines. VVPAT allows voters to verify whether their votes have gone to the correct candidate or party. Two other Lok Sabha constituencies that went to poll on Monday also reported higher failure rate of 19% and 13% respectively.
Tell me more:Elections to four Lok Sabha and 10 assembly constituencies were conducted on Monday. The most watched is Kairana in Uttar Pradesh where three major opposition parties – BSP, SP and RLD – have come together to fight the BJP.
Rs 2,675 crore
What is it? The additional revenue that accrues to the states for every dollar increase in crude oil price because of tax on petroleum products.
Why is it important? As the states have gained (Rs18,728 crore of revenue higher than budget estimates) because of higher crude oil prices, the retail price of petrol can reduce by Rs2.65 a litre, if the states decide to pass the additional revenue as price cut, as per estimate by the State Bank of India’s research unit.
Tell me more: The average sales tax or value added tax levied by states on petrol and diesel is 27.41% and 19.41% respectively. This is on top of excise duty of Rs19.48 per litre of petrol levied by the central government.
What is it? The number of French smokers who have quit in the last one year, according to a latest survey. 26.9% of people in the age group of 18 to 75 years smoke in 2017, as compared to 29.4% in 2016.
Why is it important? This is the sharpest drop in smoking in a decade, and decline has been observed among teens and low income people – the two groups where incidence of smoking is higher. Neutral packaging (where company name is printed in a standard font and size with no logo or branding), high cigarette pricing and support for buying cigarette alternatives have helped France to reduce number of smokers.
Tell me more: India’s tobacco consumption has steadily increased from 406 million kgs in 1981-82 to 562 mn kgs in 2014-15.
What is it?The monthly salary payable to Sudha Balakrishnan, who was appointed as the first chief financial officer or CFO of the Reserve Bank of India (RBI).
Why is it important? Balakrishnan, whose position is equivalent to an executive director of the central bank, will handle the internal financial functions of the RBI like a CFO of a company. RBI’s balance sheet size is Rs33,040 billion as on June 30, 2017.
Tell me more: The idea to create a senior leadership position was floated by former RBI governor Raghuram Rajan, who had suggested a designation equivalent of a deputy governor.