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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