![]() ![]() Googolplexianplex, or googolplexianplexian are still theoretical numbers, but they might have some use in real life. And also the number googolplexian, 1 with a googolplex number of zeros behind it. Today, Short form is most commonly used in most English speaking countries. The change in the United Kingdom to Short form numbering happened in 1974. ![]() Because of this, in Short form a billion is one thousand millions (10 9) while in Long form it is one million millions (10 12). Short form numbering is based on thousands and Long form is based on millions. This is mainly because of American finance. The American way or "Short form" for naming large numbers is different from the European way or "Long form" of naming large numbers. With the same number, it would be said to be 642 billion, 500 million (US) or 642 milliard, 500 million (Eur). When naming by grouping, each group is the name of the group. Still counting the number of numbers after the first number (in this case, after the 6 there are 11 numbers) you need to include the ones that are not zero in the formula, but after a decimal point. When large numbers have many different decimals in them, such as 642 500 000 000, naming them with scientific notation is about the same, but with one difference. If the number is named by grouping, it is five hundred quintillion ( American) or 500 trillion ( European). For example, the number 500,000,000,000,000,000,000 can be called 5 x 10 20 in scientific notation since there are 20 zeros behind the 5. There are two main ways of naming a number: scientific notation and naming by grouping. The statement said that the government further reiterates that the provision for food subsidy in the Budget for FY24 is adequate to cover all anticipated costs of projected PDS requirement of essential commodities for distribution amongst beneficiaries.Naming very large numbers is relatively easy. For instance, in the current FY23, the indicative IEBR outlay was Rs 89,425 crore in the Budget Estimates, which has been scaled down to Rs 56,935 crore in the RE, on account of lower carrying cost of reduced inventory,” said the statement. “This has been a continuing arrangement made available to FCI. The actual utilisation against the indicative estimate is expected to be need-based and in a phased manner. It further added that as part of the government’s commitment to budgetary transparency and proactive disclosure, the Budget documents for FY24 disclose indicative working capital requirements for FCI upfront in the next fiscal year. “Costs from working capital requirements are included in the food subsidy released to FCI from the Union Budget,” read the statement. Pending receipt, FCI manages its working capital requirements, or the costs arising from procurement operations, establishment, freight, and storage inventory carrying charges by availing of cash credit from a consortium of banks, short-term loans (up to 90 days), ways and means advances, etc. ![]() The Centre also said that food subsidy - which is the difference between the economic cost and central issue price - is released to FCI as a reimbursement from the Budget after essential commodities are made available for distribution via PDS outlets. The IEBR of FCI for FY24 - in line with the Budget documents - is projected to jump a staggering 164 per cent to nearly Rs 1.45 trillion, from the 2022-23 (FY23) Revised Estimates (RE) of Rs 55,000 crore.Īccording to the statement, this reflects FCI’s anticipation of higher levels of procurement, including incidental expenses, by reason of increased inventory of essential commodities in the year. Costs from these working capital requirements are included in the food subsidy released to FCI from the Budget, said an official statement. It is to provide money for the cost of procurement and managing public distribution system (PDS) operation costs. In an attempt to clear the air on the outlay of Rs 1.45 trillion shown as internal and extra budgetary resources (IEBR) for Food Corporation of India (FCI) in the Union Budget 2023-24 (FY24), the Centre on Tuesday said the figure represents an indicative estimate of short-term working capital requirement of the FCI.
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