The Art of the Deal

$7.8 billion

What is it? Estimated government IT spending in India in 2017, according to Gartner.

Why is it important? It represents a growth of 7.5% from 2016, but down from earlier estimation of 9.5%. The revision underlines the concern that India’s government spending is shrinking when it should be gearing up on the back of slowdown in economic growth. Credit Suisse in a report said the overall government spending might be revised down to meet fiscal deficit targets.

Tell me more: Gartner said the downward revision was due to “effects of demonetization and a drop in industrial production.” .

 

7

What is it? The number of Maharashtra districts witnessing farmer protests.

Why is it important? In these districts, farmers stopped vehicles carrying farm and dairy produce headed for cities like Mumbai, Pune, Nashik and Aurangabad. They are agitating to ensure higher prices for their produce and demand a farm loan waiver similar to that in Uttar Pradesh. The BJP government in Maharashtra will have to spend Rs 30,500 crore to do so.

Tell me more: Even though the Fadnavis government had said it would study UP’s move, the farmers’ association has complained they got no assurance on Tuesday, leading to the strike.

 

317

What is it? The number of seats Conservative Party is predicted to win in next week’s UK general elections.

Why is it important? If the prediction turns out to be right, the party will fall short of 9 seats for a majority, leading to a hung parliament. Only twice since 1926 did the elections yield such results in the UK – in 1974 and 2010. If Conservatives fail to get a majority, its dependence on smaller parties will go up diluting its stand on policies.

Tell me more: Conservatives, under Theresa May, called for snap election on June 8, to pave the way for smoother Brexit-related legislation, as it now has only a thin majority of 17.

 

$124.7 million

What is it? The revenue of driverless vehicle technology company, Mobileye, in the Jan-Mar quarter.

Why is it important? The Israeli company’s revenues increased by 66%, on the back of new partners such as major automakers and development of complex driver assistance systems. Mobileye is in the midst of being bought out by Intel.

Tell me more: While Intel has moved to acquire it, end users such as BMW, Nissan and Volkswagen have signed up for its camera-enabled self-driving car systems that avoid collisions. Ensuring safety is the priority in the driverless automobile engineering, even as collisions serve as grim reminders to their limits.

 

$4.2 billion

What is it? The amount Russian government will lend India towards the construction cost of two nuclear power reactors.

Why is it important? The credit line is a part of a much awaited deal to jointly build two nuclear power reactors at Kudankulam nuclear power station in Tamil Nadu. It was one among the five deals signed by India and Russia during Prime Minister Narendra Modi’s visit to the country. The agreement would lead to building of units 5 and 6 at Kudankulam, each with a capacity of 1000MW.

Tell me more: The two reactors will be built by India’s Nuclear Power Corporation of India and Russia’s Atomstroyexport. India has 22 nuclear power reactors at present with an overall capacity of  6780 MW.

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