Govt filed a complaint against Nestle on behalf of consumers—the first time it has done against a company—in a consumer forum
In June, the food regulator banned Nestle’s popular Maggi noodles, alleging the presence of excess lead and misleading information about monosodium glutamate on the label. Photo: Bloomberg
896 million
The number of Aadhaars, the unique identity number for every resident of India that was launched by the previous Congress-led government, issued so far. The current Bharatiya Janata Party (BJP)-led government has made Aadhaar the identity centerpiece for welfare schemes. But its extension to further government schemes is on hold for now after the Supreme Court on Tuesday said Aadhaar was not mandatory to avail of welfare benefits and asked a larger bench to examine whether the information collected and shared by the government under Aadhaar violated the right to privacy of individuals.
$72 billion
The value of trade between India and China in 2014-15. Of this, $60 billion was goods moving from China, much of whose superlative growth in the past decade has been on account of such exports, to India. That growth has been flagging, with China reporting a 8.3% drop in July. In order to shore up this growth, China on Tuesday signalled a devaluing of its currency, which would effectively make its products more price-competitive in international markets, sending ripples through other markets and raising fears of currency wars.
24%
Syngene International, the research arm of biotech major Biocon, listed on Tuesday at a 24% premium to its issue price. Elsewhere, the initial public offering (IPO) of Power Mech, which provides engineering services to the power sector, received subscriptions of about 38 times its issue size on Tuesday, its last day. Both numbers augur well for other high-profile businesses that have stated their intent to go public in the coming weeks and months, a list that includes the companies that run Café Coffee Day and IndiGo Airlines.
Rs.640 crore
One of the two figures being stated for the compensation amount for consumers the government has sought from Nestle India. The other is Rs.426 crore. In June, the food regulator banned Nestle’s popular Maggi noodles, alleging the presence of excess lead and misleading information about monosodium glutamate on the label. The case is contested on various legal forums. The government on Tuesday filed a complaint against Nestle on behalf of consumers—the first time it has done against a company—in a consumer forum.
9%
The amount of time the Rajya Sabha, one of the two houses of Parliament, has worked this monsoon session, the lowest in the last five years, according to PRS Legislative Research. For Lok Sabha, the figure is 43%, the second lowest in the last two years. Parliamentary proceedings have been marred by the Congress party stalling Parliament, demanding the resignations of central minister Sushma Swaraj, Rajasthan chief minister Vasundhara Raje and Madhya Pradesh chief minister Shivraj Singh Chouhan. With two days left in the session, the passage of the goods and services tax bill, a far-reaching tax reform, is in jeopardy.
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