• Households owning two wheelers in India
    • There are about 60 mln households – 34 mln rural and 26 mln urban.
  • Facts and figures about Chinese economy:
    • Fastest growing economy in the world
    • GDP pegged at $2.7 trillion; close to a 5th of the global output
    • Attracted more than $72.4 bn FDI in 2005
    • Forex reserves are currently at $1 trillion
    • Trade accounts for close to 80% of its GDP (a cause for worry internally for them)
  • Airport security
    • It is looked after by CISF (Central Industrial Security Force) along with BCAS (Bureau of Civil Aviation Security).
    • Director General of CISF: Mr. S.I.S. Ahmed
  • Belgian honour on Sonia Gandhi
    • Sonia Gandhi was conferred Belgium’s second highest civilian honour of “Grand Officer in the Order of King Leopold”.
    • King Albert II and Queen Paola of Belgium conferred the award on her during her current trip to Belgium.
  • Political violence in Bangladesh
    • The Awami League (led by Sheikh Hasina Wajed) is leading a protest against the poll panel chief and his deputies. The protest turned violent. The poll panel chief and his deputies are accused of not being neutral.
  • Delhi tops the list of cities with SEC-A households
    • With about 587,000 households in SEC-A it is a marketer’s paradise for gauging consumer preferences.
    • SEC-A stands for socio economic classification of top category
  • Private labels
    • These are brands owned by modern retailers and are cheaper by about 20 to 25% compared with the national brands in the market.
  • Toll free telephony
    • 1-800 series of phones available in India are toll free numbers. What this means is that the caller will not be charged for the call. Instead the called party pays for the call.
    • So far the service is being offered by BSNL only.
    • Now Reliance has entered into an agreement with BSNL to offer toll free calls across their networks. That means a Reliance customer also can make a call to the toll free number on BSNL network without paying any charge. The revenue sharing is worked out mutually between the two networks.
  • LIC plans big online foray
    • LIC has taken up a big project for document management across all its offices in India.
    • The size of the project can be gauged from the fact that LIC sold about 3.5 cr policies in 2005-06 alone.
    • T.S. Vijayan is the Chairman of LIC.
  • Petroleum technology & engineering IIT in Uttar Pradesh
    • Peeparpur in Sultanpur district of UP is the proposed venue for this IIT like institution.
    • The institute will entail an investment of about Rs. 861 cr.
    • Additional manpower required by hydrocarbon sector in India is pegged at 12,000 in 2010 and 23,000 in 2015.
  • World billionaires
    • There are about 793 $ billionaires in the world each with an average net worth of $3.3 bn
  • What is covered under the AIR (Annual Information Return) of the income tax department?
    • It is mandatory for certain companies, banks, mutual funds, registrar / sub-registrar of state governments, RBI officials to furnish information about specified high value transactions entered into or after April 1, 2004 to the income tax department.
    • Specified high value transactions include
      • Purchase and sale of immovable property valued at Rs. 30 lk or more
      • Annual credit card expenditure of Rs. 2 lks or more
      • Investment in shares of a company of Rs. 1 lk or more in a public issue
      • Mutual fund investment of Rs. 2 lk or more
      • Purchase of bonds or debentures for Rs. 5 lk or more
      • Annual cash deposits of Rs. 10 lk or more in savings account
      • Purchase of RBI bonds of Rs. 5 lk or more
  • ADB (Asian Development Bank) funding to India
    • It is extending one of the largest loans for reform and recapitalization of the cooperative banks in the country. About $1 bn.
    • Interest rate is about 6.5% for a 25 year loan.
    • The GoI is making an attempt for more funding to help tourism infrastructure sector.
  • It is estimated that about 40% of the farmers’ produce in the country never reaches market for want of storage and transportation facilities.
  • 11th Plan draft approach paper approval
    • The route that is taken by a plan approach paper before it becomes a Plan is like this:
      • Approach paper is prepared by Planning Commission
      • It is approved by the Cabinet
      • Finally it is approved by the NDC (National Development Council)
  • 11th Plan targets
    • GDP growth aimed is 9%
    • Agriculture 4%
    • Services 10%
    • Industry 10.5%
  • Slippage in 10th Plan power generation target
    • The 10th Plan envisaged a capacity addition of 34,000 MW
    • Achieved is 17,766 MW only till September 2006
    • Expected addition is 3,800 MW by March 2007
  • World’s first artificial stomach
    • British scientists have created this to understand what happens in the gut and help develop healthier foods to manipulate the digestive process.
  • Aviation ministry plans random auditing of airline accounts
    • To curb mounting losses in the sector
    • Govt. to suggest corrective measures such as capacity reduction and route rationalization
    • Prevent price cutting beyond rational levels

Today’s topic for discussion: Should the Government undertake audit of the airline companies? What are the pros and cons involved in such an exercise?

Please leave your comments below by clicking on the comments link.


Jack said...

Yes, The Government should audit airline cos occasionally but on a rational and ramdom basis. This will create a moral fear among airline cos and will prevent them from cutting too many corners which not good for anybody.

Anonymous said...

zNo.How this so called "rational level of prices" is going to be determined? Airlines are looking at expanding volumes. So achieving break-even may take some time. Its thier buisness. Govt. should concentrate on its own.