What is it?Fine imposed by European Union on Google for abusing its dominant position in Android operating system.
Why it’s important? European Commission said Google forced phone manufacturers to pre-install its search and Chrome apps in Android phones as a condition of using its app store Google Play. Android operating system has a market share of over 80%. This comes at a time when there are growing concerns about the big tech firms such as Apple, Google, Facebook and Amazon.
Tell me more: Last year, EU fined Google $2.7 billion for abusing its position in search by favoring its own shopping sites against competitors. Earlier this year, India fined Google $21.17 million for a similar offence.
1.2 million tonnes
What is it?Likely Indian imports of pulses in 2018-19, according Indian Pulses and Grains Association.
Why is it important?If it falls to this level, it will be the lowest imports of pulses by India in the last two decades. It follows government’s decision to increase import taxes and impose quantity restrictions. Lower imports would raise the price of pulses, which would mean the government will have to pay out less as subsidies to farmers.
Tell me more: India is the largest importer of pulses and the move will adversely impact exporting countries such as Canada. In 2017-18, pulses imports fell by one million tonnes.
What is it? The number of seats National Democratic Alliance has in Lok Sabha, 272 of them held by Bharatiya Janata Party.
Why is it important? With a clear majority, Narendra Modi government is set to clear the no-confidence motion, moved by the opposition and approved by the speaker on Wednesday. The exercise is expected to be used by the opposition to highlight its disappointment with government’s economic performance.
Tell me more: The Monsoon session of the parliament which started on Wednesday will have 18 sittings. The session is crucial for BJP, which has a handful of billsto pass before it faces elections next year.
What is it?The number of unarmed surveillance aircraft, MQ-9B Guardian, that India is in the process of buying from the United States.
Why is it important? Now, US has reportedly offered to sell armed version of Guardian, in a departure from its practice of selling armed drones only to NATO (North Atlantic Treaty Organisation) countries. This will also be the first of its kind in South Asia.
Tell me more: India was in talks to buy 22 of MQ-9B Guardian from the US for $2 billion to watch over Indian Ocean.
4.7 to 7.3 percentage points
What is it?The temporary drop in the local GDPs of informal districts following demonetisationof 2016, according to a World Bank study.
Why is it important? The study, which used nightlight intensity to gauge economic activity said, “these shocks were temporary, so that their impact on the annual GDP of the affected localities was probably modest. But in the short-term the local impacts were sizeable.”
“The difference in local growth relative to a normal year was very small in urban districts, as well as in those with greater access to finance and with more prevalent regular wage employment,” the report said.
Tell me more: The impact of demonetisation on economic activity at the aggregate level was ‘small and short-lived’, the report said. “There is a dip in nightlight intensity, but it only lasts for about two months.”