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News in Numbers: 813 farmers in Mumbai and its suburbs are on the loan waiver list

LiveMint logoLiveMint 05-07-2017 howindialives.com

$700-750 million

What is it? The amount quoted by Flipkart to acquire Snapdeal’s marketplace business, but was rejected by Snapdeal board.

Why is it important? The current valuation of the struggling e-commerce company is a substantial markdown from its peak valuation of $6 billion just 15 months back. Flipkart and Snapdeal have signed an exclusive agreement wherein Flipkart has to make an offer after conducting due diligence of Snapdeal. This agreement ended on 3 July.

Tell me more: The sale is being pushed by Japan’s SoftBank Group Corp and Tiger Global, the two largest investors in Snapdeal and Flipkart, respectively.

813

What is it? The number of farmers in Mumbai and its suburbs who are on the loan waiver list.

Why is it important? The number surprised the state administration as Mumbai has zero rural population as per 2011 Census data. At stake is a slice of the Rs34,000 crore loan waiver announced by the state last month. This is amid a clamour to expand the scope of the waiver beyond farmers with loans under Rs1.5 lakh.

Tell me more: The CM has ordered a scrutiny of the two regions, listing 694 eligible farmers from Mumbai city and 119 from its suburbs, before waivers are sanctioned.

Rs400 crore

What is it? Air Asia’s estimate of the additional annual burden as a result of the goods and services tax (GST) on airlines that lease out planes.

Why is it important? Most planes are leased by domestic air carriers like Indigo, the market leader, as it was profitable to do so. Air Asia says the estimate is the result of Rs10-12 crore extra taxes on each aircraft under GST. GST has made purchase and lease of aircraft taxable.

Tell me more: Air Asia had brought down its loss from Rs26 crore in the December, 2016 quarter to Rs7.8 crore in March 2017 quarter.

Rs18.44 crore

What is it? The variable royalty payment Hero MotoCorp made to Honda Motor Co. in 2016-17.

Why is it important? The Indian two-wheeler manufacturer can now stop paying royalties to its erstwhile Japanese partner from July 2017, as its variable royalty agreement ended in June 2017. Between 2012-13 and 2015-16, it had paid out Rs366.99 crore in variable royalties based on the sale of two-wheelers that used Honda’s technology.

Tell me more: Between 2010, the year of its separation, and 2014, Hero had paid the Japanese automaker a fixed royalty of Rs2,350 crore, amortised over the four years. Hero will now focus on its home-grown R&D for products.

3 months

What is it? The time manufacturers and retailers have to clear their pre-July stock by stamping updated post-GST prices on them.

Why is it important? The rush to clear inventory before GST came into force from 1 July saw a lot of retailers and manufacturers offering discounts. But that did not clear up all the stock of goods either in the showrooms or in the warehouses of manufacturers.

Tell me more: The sellers would also have to put in two advertisements in the newspapers about the price rise, besides the new label on leftover stock.

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