10.10.2006

Limit for tax free rental income likely to go up
The government is considering an increase in the limit of tax free income from property leasing to 50% from existing 30%. The idea is to bring in 15.8 mln unoccupied dwellings across the country in circulation, to bridge the housing shortage in the country.

It is estimated that about 130 cr people will migrate to urban areas in next decade as employment in agriculture sector is loosing its trend.

Nobel for Economics
American Edmund Phelps won the prize for his research into the interplay between prices, unemployment and inflation expectations.

In his research he suggested that in setting prices and negotiating wages, employers and workers make judgements about future inflation that in turn influence the inflation outcome. As a consequence, the long-run rate of unemployment is not affected by inflation but only determined by the functioning of the labour market.

40 kg of plutonium is sufficient to produce about 7 nuclear bombs. North Korea is believed to have stored up to 40 kg of plutonium.

The Indian ophthalmology market size is estimated to be at $55 mln.

India’s millionaire club increases by 19% to 83,000
Indian HNIs held $290 bn in assets at the end of 2005.
HNIs are people who have net financial assets of at least $1 mln.

India’s Gini index is 33, compared to 41 for the US, 45 for China and 59 for Brazil.

Indian Children
Only 70% of India’s children attend primary school. As many as 47% of its children are malnourished.