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Paris Olympics 2024 Medal Tally, India Medal Tally in Olympics

Paris Olympics 2024 Medal Tally

China’s Liu Yukun won a gold medal, helping China stay at the top of the medal table. France is in second place, and Japan is in third. This is the 33rd Summer Olympics. It started on Friday and will end on August 11. The Paris Olympics has 32 sports. These include 28 main sports, plus some newer ones like breakdancing, skateboarding, surfing, and sports climbing. India won its third medal in the Paris 2024 Olympics. Swapnil Kusale got a bronze medal in the men’s 50m rifle 3 positions event. This happened in Chateauroux on Thursday.

Paris Olympics 2024 Medal Tally (Full List)

China leads with the most gold medals (11), but the United States has the highest total medal count (31). The top 5 countries by gold medals are China, France, Japan, Australia, and the United States.

Rank Country Gold Silver Bronze Total
1 China 11 7 3 21
2 France 8 10 8 26
3 Japan 8 3 4 15
4 Australia 7 6 4 17
5 United States of America 6 13 12 31
6 Great Britain 6 7 7 20
7 South Korea 6 3 3 12
8 Italy 3 6 4 13
9 Canada 2 2 3 7
10 Germany 2 2 2 6
11 Netherlands 2 2 1 5
11 New Zealand 2 2 1 5
13 Romania 2 1 1 4
14 Hong Kong 2 0 2 4
15 Sweden 1 1 2 4
16 Georgia 1 1 0 2
17 Belgium 1 0 2 3
17 Ireland 1 0 2 3
17 Kazakhstan 1 0 2 3
17 South Africa 1 0 2 3
21 Croatia 1 0 1 2
21 Guatemala 1 0 1 2
23 Argentina 1 0 0 1
23 Azerbaijan 1 0 0 1
23 Ecuador 1 0 0 1
23 Serbia 1 0 0 1
23 Slovenia 1 0 0 1
23 Uzbekistan 1 0 0 1
29 Brazil 0 2 3 5
30 Hungary 0 2 1 3
31 North Korea 0 2 0 2
32 Poland 0 1 2 3
32 Spain 0 1 2 3
34 Kosovo 0 1 1 2
34 Mexico 0 1 1 2
34 Switzerland 0 1 1 2
34 Turkey 0 1 1 2
34 Ukraine 0 1 1 2
39 Fiji 0 1 0 1
39 Mongolia 0 1 0 1
39 Tunisia 0 1 0 1
42 India 0 0 3 3
43 Moldova 0 0 2 2
44 Austria 0 0 1 1
44 Egypt 0 0 1 1
44 Greece 0 0 1 1
44 Slovakia 0 0 1 1
44 Tajikistan 0 0 1 1

Updated 01-08-2024

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Cabinet Gives Nod to Bio-RIDE Scheme to Support R&D in Biotechnology

The Union Cabinet has approved the Biotechnology Research Innovation and Entrepreneurship Development (Bio-RIDE) scheme to boost biotechnology research, innovation, and entrepreneurship with an outlay of ₹9,197 crore for the 15th Finance Commission period (2021-22 to 2025-26).

The scheme merges two existing programs — Biotechnology Research and Development (R&D) and Industrial and Entrepreneurship Development (I&ED) — and introduces a new component called ‘Bio-manufacturing and Bio-foundry.’ This initiative aims to foster innovation, strengthen bio-entrepreneurship, and elevate India’s global position in bio-manufacturing and biotechnology.

It will support research, product development, and the transition from academic research to industrial applications, aligning with national and global goals in healthcare, agriculture, sustainability, and clean energy.

Key Components and Focus Areas

Unified Scheme: Combines Biotechnology R&D, I&ED, and introduces ‘Bio-manufacturing and Bio-foundry’ components.

Financial Outlay: ₹9,197 crore for implementation during the 15th Finance Commission period (2021-22 to 2025-26).

Objectives: Drive innovation, support startups, and promote bio-entrepreneurship with seed funding, incubation, and mentorship.

Target Areas: Research grants will focus on synthetic biology, bio-pharmaceuticals, bio-energy, and bio-plastics, with a significant emphasis on sustainable practices in bio-manufacturing aligned with India’s green goals.

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India and European Union agree to deepen cooperation in Sustainable Water Management

India and the European Union (EU) agreed to enhance cooperation in sustainable water management at the 6th EU-India Water Forum held on the sidelines of the 8th India Water Week, in New Delhi.

Discussion Agenda of 6th IEWP

  • The 6th EU-India Water Forum serves as a key platform for discussing water sector challenges, sharing best practices, and enhancing business and research opportunities. 
  • As India and the EU continue to advance their cooperation in water management, this forum reaffirms their commitment to achieving sustainable water resource management for future generations.

Highlights

  • The shared commitment between the EU and India to address global water issues through technological collaboration, policy exchange, and sustainable investment strategies.
  • The current phase (Phase III) prioritizes government and business partnerships, aligning with India’s National 2030 Agenda and the EU’s Global Gateway Strategy, which promotes sustainable investments, connectivity, and infrastructure development focused on green, digital, and inclusive growth. 
  • The forum explored trilateral collaboration between East Africa, India and the EU, to address challenges in East Africa’s water bodies such as Lake Victoria and Lake Tanganyika, leveraging the combined strength of India and the EU.

About The India-EU Water Partnership (IEWP)

  • As part of the India-EU Strategic Partnership and in accordance with the Joint Declaration between the EU(European Union) and the Government of India (2016) as well as the Memorandum of Understanding on Water Cooperation between the EU and the GoI (2016), the EU and India established the India-EU Water Partnership (IEWP) as a political dialogue between the EU and India.
  • It was set up to strengthen the political and strategic framework for a more coherent and effective collaboration between the EU and India on water management issues. 
  • Its aim is to bring together governments, businesses, research institutions, and other key stakeholders to promote innovative approaches and the systematic implementation of existing policies.

The India – EU Water Partnership consists of five components.

  • The EU and Ministry of Jal Shakti cooperation based on the Joint Declaration and MoU
  • The EU and BMZ funded IEWP Action
  • EU Member States
  • Research and Innovation
  • Businesses

Projects Under IEWP

  • Under IEWP, the EU and India are collaborating on river management on Tapi and Ramganga River Basins. 
  • Under Phase III, the partnership will extend its efforts to other key basins like the Brahmaputra. Both regions have co-jointly funded 7 research and innovation water projects with €37.4 million (EU €23.4 M + India €14 M), bringing together 743 participants from the EU and India. 
  • These projects focus on drinking water purification, wastewater treatment, and real-time monitoring and control systems, and the IEWP will further provide support for market uptake of these cutting-edge water technologies in India.

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India Becomes 6th Largest Market in MSCI ACWI

India has now become the sixth largest market in the MSCI All Country World Investable Market Index (ACWI IMI), surpassing China and narrowly behind France. As of August 2024, India’s weight in the index stands at 2.35%, surpassing China’s 2.24%, with France just 3 basis points ahead of India. India is also now the largest emerging market (EM) in the MSCI ACWI IMI for the first time.

MSCI ACWI IMI Overview

The MSCI ACWI IMI includes large- and mid-cap stocks globally. While India’s weight has more than doubled since early 2021, China’s has halved during the same period. However, in the standard MSCI ACWI Index, India trails China with a weight of 2.07% compared to China’s 2.41%.

Investment Impact and Passive Inflows

Analysts suggest India’s rising weight may not have a significant impact on passive inflows as ETFs tracking the index manage under $2 billion. However, India’s top EM and sixth-largest weight status boosts its image, enhancing investment appeal.

Economic Growth and Market Performance

India’s nominal GDP growth rate is currently in the low teens, more than triple that of China, leading to a stronger earnings growth environment. In August, India also overtook China in the MSCI EM IMI with a weight of 22.27%, while China’s is at 21.58%. The MSCI EM IMI is tracked by funds managing $125 billion, while the MSCI EM index is tracked by funds with $500 billion in assets.

Morgan Stanley’s Strategy

Morgan Stanley is overweight on India and Japan by 150 basis points in their pan-Asian and EM portfolios, while maintaining a 150 bps underweight on China.

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First UN Deputy Secretary General, Know His Name

Louise Fréchette is a Canadian diplomat and public servant, best known for being the first United Nations (UN) Deputy Secretary-General. Born on July 16, 1946, in Montreal, Canada, she has had a distinguished career in diplomacy, international governance, and public service. Her contributions, particularly at the UN and in Canadian diplomacy, have made her a prominent figure on the global stage.

Early Life and Education of Louise Fréchette

Fréchette was born in Montreal, where she completed her early education. In 1970, she earned a degree in history from the Université de Montréal. Her passion for international relations led her to further her studies at the College of Europe in Bruges, where she obtained a postgraduate Certificate of Advanced European Studies in 1978, equivalent to a master’s degree.

Diplomatic Career of Louise Fréchette

Fréchette began her diplomatic career in 1971 by joining Canada’s Department of External Affairs. She held various international postings, including a role at the Canadian Embassy in Athens and later at Canada’s UN delegation in Geneva. In 1985, at just 39 years old, she was appointed Canada’s ambassador to Argentina.

In 1989, she undertook a secret mission to Cuba to persuade Fidel Castro to support the Gulf War, although the mission did not succeed, she gained recognition for her efforts. In 1992, she was appointed as Canada’s ambassador to the United Nations, solidifying her role in global diplomacy.

Deputy Minister in Canada

In 1995, Fréchette transitioned from international diplomacy to serve in Canada’s domestic governance. She took on the role of assistant deputy minister of finance in Ottawa and later became the deputy minister of national defense. In this position, she made history as the first woman to hold such a senior defense position in Canada.

First UN Deputy Secretary-General

In 1997, UN Secretary-General Kofi Annan introduced reforms to modernize the UN. One significant change was the creation of the position of Deputy Secretary-General, responsible for overseeing the organization’s administrative functions. Fréchette was appointed to this newly created role, becoming the first person to hold the title. During her tenure, she played a key role in various reforms, including coordinating peacekeeping efforts in Haiti in collaboration with then-U.S. Secretary of State Madeleine Albright.

In 2005, following criticisms related to the UN’s Iraq Oil-for-Food Program, Fréchette resigned from her post. Despite this controversy, her work at the UN is remembered for its administrative improvements and global initiatives.

Later Career and Involvement

Following her time at the UN, Fréchette continued her involvement in global governance. She became a member of the Global Leadership Foundation and held roles on various boards, including CARE Canada and the International Atomic Energy Agency (IAEA). Her work focused on international security, nuclear disarmament, and humanitarian efforts.

Recognition and Awards Received by Louise Fréchette

In recognition of her contributions to public service and diplomacy, Louise Fréchette was made an Officer of the Order of Canada in 1998, one of the country’s highest civilian honors.

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New Re-usable Low-cost launch vehicle for Bharat

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the development of Next Generation Launch Vehicle (NGLV), that will be a significant step towards the Government’s vision of establishing & operating the Bharatiya Antariksh Station and towards developing capability for Indian Crewed Landing on the Moon by 2040.

Aim

The NGLV aims to strengthen India’s position in the global space industry by lowering the cost of launches by reusing recovered components and offering enhanced capacity for carrying heavier payloads into orbits.

About NGLV

  • NGLV will have 3 times the present payload capability with 1.5 times the cost compared to LVM3, and will also have reusability resulting in low-cost access to space and modular green propulsion systems.
  • Next Generation Launch Vehicle (NGLV) is taken up which is designed to have a maximum payload capability of 30 tonnes to Low Earth Orbit, which also has a reusable first stage.

Current Vehicles

India has achieved self-reliance in space transportation systems to launch satellites up to 10 tonne to Low Earth Orbit (LEO) and 4 tonne to Geo-Synchronous Transfer Orbit (GTO) through the currently operational PSLV (Polar Satellite Launch Vehicle) , GSLV (GeoSynchronous Satellite Launch Vehicle), LVM3 (Launch Vehicle Mark III) & SSLV (Small Satellite Launch Vehicles).

How will this project be implemented?

  • The NGLV development project will be implemented with maximal participation from the Indian industry, who is also expected to invest in the manufacturing capacity at the outset itself, thereby allowing a seamless transition to the operational phase subsequent to the development. 
  • NGLV will be demonstrated with three development flights (D1, D2 & D3) with a target of 96 months (8 years) for the completion of the development phase.
  • Funding : The total fund approved is Rs. 8240.00 Crore and includes the development costs, three developmental flights, essential facility establishment, Programme Management and Launch Campaign.

How will this be beneficial?

  • The development of NGLV will enable national & commercial missions including launch of human spaceflight missions to Bharatiya Antariksh Station.
  • Lunar/inter-planetary exploration missions along with communication & earth observation satellite constellations to Low Earth Orbit that will benefit the entire space ecosystem in the country. 
  • This project will boost the Indian space ecosystem in terms of capability and capacity.

About Launch Vehicles

  • A launch vehicle is a rocket-powered vehicle that transports a spacecraft beyond the Earth’s atmosphere, either into orbit around the Earth or to another destination in outer space.
  • Satellites are integral to space missions. However, they don’t make their way into space independently. Instead, they rely on launch vehicles and powerful rockets for their celestial journey.

Notable Foreign Launch Vehicles

  • Arien 5 (European Space Agency)
  • Falcon 9 (Space X)
  • Space Launch System (SLS – NASA)
  • Soyuz 5 (Russian Space Agency)

What is a Reusable Launch Vehicle?

The concept of a reusable launch vehicle is based on making the spacecraft durable enough to withstand multiple launches and landings. This necessitates the vehicle’s design to be both lightweight and strong, as well as the use of materials that can withstand the extreme conditions of spaceflight.

Examples of RLVs

  • New Shepherd (Amazon’s Blue Origin space agency)
  • SpaceX’s Falcon 9
  • SpaceX Starship

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Cabinet Clears ‘One Nation, One Poll’ and Major Agriculture-Space Proposals

The Union Cabinet has approved several key proposals with a total outlay exceeding ₹60,000 crore, covering areas from agriculture to space exploration. The much-anticipated ‘One Nation, One Poll’ policy, enabling simultaneous elections across India, also received approval. Additionally, the PM-AASHA scheme was revamped with a ₹35,000 crore budget to ensure Minimum Support Prices (MSP) for farmers. The Cabinet also sanctioned a ₹24,474.53 crore subsidy on phosphatic and potassic (P&K) fertilizers for the 2024-25 rabi season.

Space Missions

The Chandrayaan-4 mission, with a budget of ₹2,104.06 crore, aims to develop technologies for astronaut landings on the moon and their safe return. The Venus Orbiter Mission (VOM), allocated ₹1,236 crore, was approved for scientific exploration of Venus.

One Nation, One Poll Implementation

A group will be formed to implement the recommendations of the Ram Nath Kovind panel regarding ‘One Nation, One Poll’. This initiative is seen as a significant move towards enhancing democratic participation. There is no clarity yet on whether a bill will be introduced in the upcoming winter Parliament session.

PM-AASHA Reforms

The scope of PM-AASHA was expanded by merging the Price Stabilisation Fund (PSF), Price Support Scheme (PSS), and Market Intervention Scheme (MIS) with the existing Price Deficit Payment Scheme (PDPS). The Centre has also enhanced government guarantees to ₹45,000 crore for MSP-based procurement. Notably, the coverage for oilseeds under PDPS will increase from 25% to 40% of state production, while procurement for tur, urad, and masur will see 100% coverage for the 2024-25 season.

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After Moon and Mars, India sights science goals on Venus

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the development of Venus Orbiter Mission (VOM), which will be a significant step towards the Government’s vision of exploring and studying Venus, beyond moon and mars. 

About VOM

  • The Venus Orbiter Mission (VOM), unofficially known as Shukrayaan is a planned Indian Space Research Organisation (ISRO) mission to study the surface and atmosphere of Venus.
  • The ‘Venus Orbiter Mission’ to be accomplished by Department of Space is envisaged to orbit a scientific spacecraft in the orbit of planet Venus for better understanding of the Venusian surface and subsurface, atmospheric processes and influence of the Sun on Venusian atmosphere.

Objective

  • Investigation of surface process and shallow subsurface stratigraphy. Until now, no prior observation of the sub-surface of Venus has been done.
  • Stratigraphy is a branch of geology in which rock layers and layering are studied.
  • Study of the structure, composition and dynamics of the atmosphere.
  • Investigation of Solar wind interaction with Venusian ionosphere.

Significance

  • The study of the underlying causes of the transformation of Venus, which is believed to be once habitable and quite similar to Earth, would be an invaluable aid in understanding the evolution of the sister planets, both Venus and Earth.
  • The Indian Venus mission is expected to answer some of the outstanding scientific questions resulting in various scientific outcomes.

Project Details

  • Funding : The total fund approved for the Venus Orbiter Mission” (VOM), is Rs.1236 Cr out of which Rs 824.00 Crore will be spent on the spacecraft. The cost includes development and realization of the spacecraft including its specific payloads and technology elements, global ground station support cost for navigation and network as well as the cost of launch vehicle.
  • Timeline : The mission is expected to be accomplished on the opportunity available during March 2028. The Indian Venus mission is expected to answer some of the outstanding scientific questions resulting in various scientific outcomes.
  • Launched Vehicle : Shukrayaan-I will be launched on either GSLV Mk II (Geosynchronous Satellite Launch Vehicle Mark II) or GSLV Mk III , the latter allowing more instruments or fuel to be carried, according to ISRO.

Expectations for future

  • Unique instruments offer the Indian Science community new and valuable science data.
  • Involvement of various academic institutions and training to students in pre-launch phase that includes design, development, testing, test data reduction, calibration
  • Enable India for future planetary missions with larger payloads, optimal orbit insertion approaches.

About Venus

  • It is the second planet from the Sun and sixth in the solar system in size and mass.
  • It is the second brightest natural object in the night sky after the Moon.
  • Unlike the other planets in our solar system, Venus and Uranus spin clockwise on their axis.
  • It is the hottest planet in the solar system because of the high concentration of carbon dioxide which works to produce an intense greenhouse effect.
  • A day on Venus is longer than a year. It takes Venus longer to rotate once on its axis than to complete one orbit of the Sun.
  • Venus has been called Earth’s twin because of the similarities in their masses, sizes, and densities and their similar relative locations in the solar system.

Mission on Venus by other countries

  • USA : Mariner series 1962-1974,, Pioneer Venus 1 and Pioneer Venus 2 in 1978, Magellan in 1989
  • Russia : Venera series of space crafts 1967-1983, Vegas 1 and 2 in 1985
  • Japan : Akatsuki in 2015
  • Europe : Venus Express in 2005

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First Minister of Information and Broadcasting, Know His Name

Vallabhbhai Patel, known as the “Iron Man of India,” played a vital role in the Indian independence movement and the integration of princely states into India. Born on October 31, 1875, in Nadiad, Gujarat, Patel was a barrister and a prominent leader in the Indian National Congress. After India gained independence in 1947, he served as deputy prime minister, minister of home affairs, minister of states, and importantly, the first minister of information and broadcasting.

Key Details of First Minister of Information and Broadcasting

  • Name: Sardar Vallabhbhai Patel
  • Date of birth: 31st October 1875
  • Place of birth: Nadiad, Bombay Presidency, British India
  • Profession: Barrister, Activist, Freedom Fighter
  • Other Name: Iron Man of India
  • Awards: Bharat Ratna (1991)

Early Life and Legal Career of Vallabhbhai Patel

Patel came from a traditional Hindu family and grew up in Gujarat. He started his legal career after studying in London, establishing himself as a leading barrister. He became famous for his sharp skills in criminal law and was known for his superior mannerisms. Until 1917, Patel largely stayed away from politics, but his encounter with Mahatma Gandhi changed the direction of his life.

Political Involvement and Leadership

Patel first entered the political scene in 1917, becoming influenced by Gandhi’s satyagraha movement. He took part in significant campaigns such as the Kaira and Bardoli movements, which gained him recognition as a nationalist leader. His successful leadership in Bardoli earned him the title “Sardar,” meaning leader, a title that stuck with him for the rest of his life.

Vallabhbhai Patel as the First Minister of Information and Broadcasting

After India’s independence in 1947, Patel was appointed as the country’s first minister of information and broadcasting. In this role, he was responsible for overseeing India’s communication channels, including radio, press, and news distribution. Patel recognized the importance of this role in shaping the newly independent nation’s narrative and creating a unified sense of Indian identity. Through information and broadcasting, Patel ensured that the government’s policies and vision for a united India were effectively communicated to the people. His leadership helped lay the foundation for modern public communication in India.

Legacy of Vallabhbhai Patel in Indian Politics

Beyond his role in information and broadcasting, Patel’s legacy as India’s first deputy prime minister and minister of home affairs remains unmatched. He played a critical role in integrating over 500 princely states into the Indian Union, thus shaping the modern political map of India. His practical approach, decisiveness, and diplomatic skills earned him immense respect from all quarters.

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India’s Own Space Station for Scientific research to be established with the launch of its first module in 2028

The union cabinet chaired by the Honorable Prime Minister Shri Narendra Modi has approved the building of the first unit of the Bharatiya Anatriksh Station (BAS) by extending the scope of Gaganyaan program.

What is it?

  • ISRO is working to set up Bharatiya Antariksh Station, India’s own space station. The station will be assembled in a phased manner and ISRO aims to establish it by 2035. 
  • The Indian space station is currently in the ‘conceptualisation phase’, under which the overall architecture, number, and types of modules that are needed for the station have been studied and identified.
  • Approval by the cabinet is given for development of the first module of Bharatiya Antariksh Station (BAS-1) and undertake missions to demonstrate and validate various technologies for building and operating BAS. 

Extension with Gaganyaan Programme

  • Revision in Gaganyaan Programme to include the scope of development and precursor missions for BAS, and factoring one additional uncrewed mission and additional hardware requirement for the developments of ongoing Gaganyaan Programme. 
  • The human spaceflight program of technology development and demonstration is through eight missions to be completed by December 2028 by launching the first unit of BAS-1.

About Gaganyaan

  • The Gaganyaan Programme approved in December 2018 envisages undertaking the human spaceflight to Low Earth Orbit (LEO) and to lay the foundation of technologies needed for an Indian human space exploration programme in the long run. 
  • Gaganyaan Programme will be a national effort led by ISRO in collaboration with Industry, Academia and other National agencies as stake holders. 
  • The programme will be implemented through the established project management mechanism within ISRO. 
  • The target is to develop and demonstrate critical technologies for long duration human space missions. 

How to achieve this goal?

  • ISRO will undertake four missions under ongoing Gaganyaan Programme by 2026 
  • Development of first module of BAS
  • Four missions for demonstration & validation of various technologies for BAS by December, 2028.
  • This will be in addition to the two uncrewed and one crewed mission that has already been approved for the first human spaceflight under the Gaganyaan mission.

Significance of BAS

  • The nation will acquire essential technological capabilities for human space missions to Low Earth Orbit. 
  • A national space-based facility such as the Bharatiya Antariksh Station will boost microgravity based scientific research & technology development activities. 
  • This will lead to technological spin-offs and encourage innovations in key areas of research and development. 
  • Enhanced industrial participation and economic activity in human space programme will result in increased employment generation, especially in niche high technology areas in space and allied sectors.

Funding

The Union Cabinet also approved the continuation of the Gaganyaan mission and the setting up of the Bharatiya Antariksh Station (BAS) at the cost of Rs 20,193 crore.

Deadline

The space agency has set a deadline of December 2029 for the completion of all launches and operations of the first module of BAS. 

Space Station Setup By Other Countries

United States of America, Russia and China has independent space stations.

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India’s Exports to China Fall Faster Than to Other Partners

India’s exports to China contracted by 22.44% to $1 billion in August, while overall exports declined 9% to $34.7 billion, driven by muted demand, geopolitical issues, and logistics challenges amid a massive slowdown in China. Despite the contraction, China remains India’s fifth-largest export market, although the country continues to heavily rely on imports from China, which increased 15.5% year-on-year to $10.8 billion in the same period.

Top Export and Import Trends

Exports to China are mainly composed of iron ore, marine products, copper, and food items. Meanwhile, India’s major imports from China include electronic components, industrial machinery, IT hardware, and organic chemicals. China has regained its position as India’s top trading partner, with bilateral trade reaching $118.4 billion in FY24, surpassing the US due to higher imports.

Exports to Other Major Markets

Six of India’s top 10 export markets witnessed a contraction in August, including the US (-6.29%), UAE (-2.39%), Singapore (-39.25%), Bangladesh (-27.85%), and Australia (-24.05%). The US remains India’s largest export destination, followed by the UAE, the Netherlands, and the UK.

Overall Import Growth and Gold Impact

India’s overall imports grew 3% year-on-year to $64.3 billion in August, with gold imports doubling and contributing significantly to the increase. Imports from Switzerland, mainly driven by gold, saw 80% growth, reaching $3.9 billion.

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