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Samsung Makes In India

8.64 million metric tonnes

What is it? The quantity of coal imported by Indian power plants in two months ending May 2018.

Why is it important? This is down from 10.13 million during the year ago period, an indication that there could be a decline in power generation. The lower imports is thanks to higher coal prices (up 25% from year ago) and a weaker rupee.

Tell me more: Power plants designed to use imported coal have been running on lower capacity. Power plants in general are facing a shortage in coal supply, with coal stock of 15.3 MT in June, against the usual 35.5 MT.

120 million

What is it? The number of mobile phones Samsung can manufacture at its Noida factory after expansion.

Why is it important?This would make it the largest mobile manufacturing factory in the world, according to the South Korean mobile maker. It would invest  $716.57 million over the next three years to expand its plant capacity. It is expected to add 1000 jobs, and would help the government’s Make in India campaign.  The plant was inaugurated by Prime Minister Narendra Modi and South Korean President Moon Jae-In on Monday.

Tell me more:Last week, Samsung said its earnings in the second quarter grew at the slowest pace in more than a year. Analysts attributed it to the slump in sales of its smartphones.

6
 

What is it? The number of educational institutions that have been granted ‘eminent’ status by the government of India, enabling them to get Rs 1000 crore of government funding over the next five years. 
 
Why is it important?  The Human Resource Development ministry faced criticism for including Reliance Foundation’s Jio Institute, which is yet to be set up, in the list. The other five are well established. HRD ministry later said it was included under the under Greenfield category for new or proposed institutions. 

Tell me more:The other five educational institutions are: Indian Institute of Science, Bengaluru, the Indian Institutes of Technology at Mumbai and Delhi, Manipal Academy of Higher Education and BITS, Pilani.
 
 
8549

What is it? The number of products for which China has agreed to cut import tariffs, in an agreement with India. India, in turn, has agreed to cut tariffs for 3142 products.

Why is it important? The Indo-China agreement comes at a time when China is fighting a trade war with US, raising concerns about globalisation, and economic growth. From cars to whiskey, a range of products are likely to feel the impact.

Tell me more:In China, the reduction in tariffs for Indian medicines, especially anti-cancer drugs, which costs a tenth of its alternatives, has caught attention. A recent Chinese film on cancer, Dying to Survive, highlighted the high costs and the need for Indian drugs.

52 crore

What is it? Tax amount charged on Indian Institute of Management for the years 2009-10 to 2014-15, on the fees it collected for four postgraduate programmes.

Why is it important?The premier B-school has appealed to Human Resources Development ministry for help. It’s likely to emerge as yet another high profile tax disputes. The government has often been accused of ‘tax terrorism’ arising from “high unrealistic target setting, leading to high-pitched assessments, and the long time taken to settle appeals.”

Tell me more:Revenue department has slapped charges considering the institute to be a ‘commercial coaching centre.’ The dispute has been going on for some years, with IIM-A arguing that it is liable to pay service taxes for its consulting revenues, and not for educational programmes such as PGP.

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News in Numbers, June 28, 2016: E-commerce in India, committee to maintain inflation targets…

$10.2 billion

What is it? The total gross merchandise value (GMV) of the top e-commerce firms in India at the end of May 2016. GMV is the total value of goods sold excluding discounts.

Why is it important? This is just a 13.3% growth from the GMV the top e-commerce firms recorded last May – and that primarily came from Amazon India, which grew from $1 billion to $2.7 billion in a year. Flipkart’s GMV has remained almost constant at $4 billion for the last one year and Snapdeal’s dropped 50% to $1.2 billion as of June, according to numbers collected by the Economic Times.

Tell me more: Due to the festive season and the discounts e-tailers offered, the total GMV clocked was $10.5 billion in December 2015. Of the total GMV of $10.2 billion recorded in May 2016, others such as ShopClues and Paytm accounted for 22.54% ($2.3 billion).

 

14

What is it? The number of Andhra Pradesh state government departments that have shifted from Hyderabad to Vijayawada, Guntur and Mangalagiri on Monday.

Why is it important? Signals Andhra Pradesh Chief Minister Chandrababu Naidu’s anxiety to move out of Hyderabad (which went to Telangana following the bifurcation two years back) as early as possible. Technically, AP government can function out of Hyderabad for the next eight years, and Amaravati, the new capital is not ready yet.

Tell me more: Government departments would relocate between June 29 and July 21 to the new capital region of Amaravati. However, the Andhra Pradesh government would have to make do with a scattered set-up until the administrative city in the core capital area is developed. The state government has pooled 33,000 acres of land for the development of Amaravati.

 

6

What is it? The number of members on the panel that would be responsible for maintaining inflation targets under the new monetary policy framework.

Why is it important? The RBI has initiated the process to set this panel up, marking it as one of the major changes monetary policy saw under Raghuram Rajan.

Tell me more: The panel will have three members from RBI and three recommended by the government. The panel’s main objective is to make sure the inflation remains within the range agreed by them. Now, retail inflation is 5.76% (May). The committee may be formed before August 9.

 

20

What is it? The number of educational institutions for which the Prime Minister’s Office (PMO) has sought greater autonomy from the Human Resource Development Ministry.

Why is it important? A sign that the PMO believes that educational institutions need more freedom to set their own course structure, fee, admission procedures, etc. is needed to become world class. Finance Minister Arun Jaitley had announced during Budget 2016 that easier rules would be provided for 10 public and private institutions to emerge as world-class teaching and research institutions.

Tell me more: HRD had proposed lighter rules earlier for the “world-class” institutions earlier, but PMO has now suggested they relax it even further.

 

272

What is it? The number of Income Tax Department appeals dismissed by the Delhi High Court in a recent order.

Why is it important? The reason for the dismissal was because the department failed to do something simple: correct the defects in the appeals and re-file them without much delay. The errors included: missing pages, illegible script, wrong font, lack of stamps and proper handing over of case records. The court has directed its registry to ensure that these appeals are not filed again, most of which have tax liability exceeding Rs 20 lakh, leading to a likely revenue loss for the government.

Tell me more: The court was waiting since 2012 for the department to correct the errors in the 272 appeals.

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