You are using an older browser version. Please use a supported version for the best MSN experience.

News in Numbers | Maharashtra to waive off farm loans worth Rs30,500 crore

LiveMint logoLiveMint 12-06-2017 howindialives.com

Rs30,500 crore

What is it? The amount Maharashtra government was set to waive off in farm loans, according to chief minister Devendra Fadnavis last week.

Why is it important? The government has now said it would waive off all farm loans, in response to farmers’ unrest. The final amount is yet to be confirmed, but the amount the government was willing to waive off represents over 98% of the state’s planned capital expenditure of Rs31,006 crore. The promise of the waiver of all outstanding loan payments saw farmers end their strike of over a week.

Tell me more: The strike had seen destruction of farm and dairy produce, leading to a rise in prices in the state.

17.79 million tonnes

What is it? India’s fuel consumption in May 2017.

Why is it important? The country’s fuel demand rose 5.4%, the most in the last six months. It had suffered a setback in January-March, when demand fell following demonetisation. The pick-up began last month.

Tell me more: Diesel, which comprises 40% of the sales, rose 8% to 7.5 million tonnes, while petrol 15% to 2.4 million tonnes, in May 2017 over last year.

4

What is it? The number of days of listing time for initial public offerings (IPOs) market regulator Securities and Exchange Board of India (Sebi) is considering.

Why is it important? It would be less than the present norm of six days taken to list a company on the stock exchanges from the end of bidding in an IPO. The reduction aims to cut the time for which investors’ money is locked in, a move Sebi had been mulling for a few years.

Tell me more: In 2015, the Applications Supported by Blocked Amount (Asba), a mandatory service for retail investors, was introduced cutting down listing time. It made banks debit the investment only after the stock allotment. By January 2016, the time gap came down to six days from the earlier 12 days.

66

What is it? The number of items for which the GST (goods and services tax) Council has reduced tax rates.

Why is it important? The council was facing demands to reduce tax rates for 133 goods and services, and it’s an indicator of intense pressure it is facing as the government prepares to roll out GST from 1 July. The council also relaxed rules for more number of small and medium businesses—by increasing the upper limit for the “composition scheme” to Rs75 lakh. Composition scheme exempts small businesses with a certain turnover from GST, and lets some of them pay GST at a concessional rate.

Tell me more: The items with reduced rates include some cinema tickets, insulin, instant food mixes and printers. GST council will meet again to clear the remaining issues—including e-way bills and lotteries—on 18 June.

$2.68 million

What is it? The amount an anonymous bidder will donate to a San Francisco charity to have lunch with billionaire Warren Buffett.

Why is it important? The bid amount is down from $3.46 million in 2016, also from an anonymous donor. Auctioned on ebay, Power Lunch with Warren Buffett has been garnering over a million dollars every year in the last 10 years. The annual auctions began in 2000.

Tell me more: Glide, the charity, helps the homeless, homeless women and drug users in San Francisco. Buffett has raised over 25 million for Glide in 18 auctions so far.

howindialives.com is a search engine for public data.

More From LiveMint

image beaconimage beaconimage beacon