BackNews in Numbers: Disbursements of home loans below Rs10 lakh up 43% in FY17
In other news, Rs85.03 crore returned to Sahara India's bondholders by market regulator, Sebi, till March 2017
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60%
What is it? The estimated percentage of traders who don’t have access to computers, according to the Confederation of All Indian Traders (CAIT), a trade body.
Why is it important? Traders with turnover above Rs20 lakh per year are required to file returns online—thrice a month—under the goods and services tax (GST) regime that will be rolled out from 1 July. CAIT estimates 35 million out of the 60 million small firms will be eligible to file returns under GST.
Tell me more: Traders whose turnover is between Rs20 lakh and Rs75 lakh can opt for the composition scheme and can file returns once a quarter.
43%
What is it? The growth in disbursements of housing loans below Rs10 lakh during the last financial year ended March 2017. In comparison, loans above Rs25 lakh shrunk by 1%.
Why is it important? Growth in disbursements of loans below Rs10 lakh is an indicator of people taking advantage of the government’s credit-linked subsidy scheme for families earning less than Rs12 lakh per annum. The central government is pushing affordable housing to meet unmet housing needs in both rural and urban areas.
Tell me more: Under Pradhan Mantri Awas Yojana, people earning up to Rs12 lakh per annum will get interest subsidy of 4% on their home loans. Mortgage loans below Rs10 lakh account for only one-fourth of the total loan portfolio in 2015.
22 million
What is it? The number of Americans who will lose health insurance if the Better Care Reconciliation Act of 2017, which is pushed forward by the Republican party. Better Care will replace Affordable Care Act, which reduced the number of uninsured from 50 million to less than 27 million in 2016.
Why is it important? 49 million Americans (or 15% of US population) will not have health insurance by 2026. US is the only developed economy that does not have a universal health coverage.
Tell me more: Health expenditure per capita in US is $7,900 as compared to $ 3,233 in other developed economies, and $ 132 in India. Numbers are on purchasing power parity basis.
Rs85.03 crore
What is it? The amount of money returned to Sahara India’s bondholders by market regulator, the Securities Exchange Board of India, till March 2017.
Why is it important? Five years have passed after the Sebi passed an order asking Sahara to refund money to the bondholders. Subsequently, the Supreme Court had asked Sahara to deposit the same with the market regulator. So far, Sahara has deposited Rs11,798 crore and Sebi has been able to refund only Rs85 crore.
Tell me more: Sahara had raised the money without the approval of Sebi, which asked the company to refund the entire amount. Sahara had claimed it has refunded 95% of the bondholders.
34%
What is it? The market share of scooters in the domestic two-wheeler market during 2016-17.
Why is it important? It indicates increasing preference towards scooters, which is outpacing motorcycle sales in India, the world’s largest two-wheeler market. Scooter sales expanded by a fourth in the first two months of the current fiscal as compared to 4% growth for motorcycle sales.
Tell me more: 17.5 million two-wheelers were sold in 2016-17, as compared to 13.4 million in 2011-12.
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