Rs48,318 crore
What is it? The amount of slippage in fiscal deficit target for the current financial year ending March 2018.
Why is it important? This pushed fiscal deficit to 3.5% of the GDP as compared to the budgeted level of 3.2%. Low goods and services tax (GST) revenue and deferment of telecom spectrum auction are cited as reasons for shortfall in revenue, leading to higher fiscal deficit. Market borrowings, to fund the deficit, will increase by Rs129,636 crore (or 37%) in the current fiscal.
Tell me more: A worrying trend is the government resorting to drawing down of cash balance to the tune of Rs39,379 crore to fund the deficit. Had this not been resorted, the deficit would have been higher than 3.5%.
Rs5 lakh
What is it? The amount of health coverage a poor family would receive under the proposed National Health Protection Plan (NHPS). The government aims to cover 100 million families under this.
Why is it important? If implemented, this would effectively bypass state-run health facilities to meet the healthcare needs of the public, especially in tertiary and secondary care. Finance minister Arun Jaitley did not provide any money for this scheme, touted as the largest government-funded healthcare programme, in the budget. Further details will be announced in six months’ time.
Tell me more: A similar scheme (Rashtriya Swasthya Bima Yojana) gives a cover of up to Rs30,000 per family, and enrolled 35.8 million families till September last year. Non-life insurance coverage is very low in India at 0.7% of population.
10%
What is it? The long-term capital gains (LTCG) tax imposed on transfer of listed shares, after holding it for a year or more.
Why is it important? This measure will help the government mobilise additional tax revenue of Rs20,000 crore, the highest among new tax measures. Capital gains up to Rs1 lakh will continue to be exempt, and any gains made till 31 January will not be calculated under LTCG.
Tell me more: The total amount of exempted capital gains from listed shares were Rs3,76,000 crore as per income tax returns filed last year, claimed Arun Jaitley. Additional cess on direct tax payers will net Rs11,000 crore, the second highest revenue increase measure.
17
What is it? The number of assembly constituencies under Alwar and Ajmer Lok Sabha seats, won by Congress candidates on Thursday.
Why is it important? BJP, the ruling party in Rajasthan, did not lead in any of the 17 constituencies, as Congress vote share increased by 25 and 11 percentage points in Alwar and Ajmer Lok Sabha bypolls, respectively. If the same trend repeats in the assembly elections to be held later this year, Congress will sweep Rajasthan. Congress also won the Mandalgarh assembly seat by a margin of 13,000 votes.
Tell me more: Congress won only 21 out of 200 assembly seats in Rajasthan state elections, and in 2014 Lok Sabha elections, it lost all the seats.
34 years
What is it? The number of years since IG Metall, a European trade union with 3.9 million members, went on strike.
Why is it important? Workers belonging to IG Metall walked out of factories as part of one-day “warning strikes”. They are demanding a 8% pay hike over 27 months, and reduced work hours combined with full pay for workers who have to take care of children or sick relations or elders for two years. In addition, they want an assurance that workers returning after two years will get a full-time role.
Tell me more: Germany reported fastest economic growth (2%) in six years and very low unemployment. Employers are offering 6.8% wage hike, and rejected the idea of full pay for part-time work for two years.
howindialives.com is a search engine for public data