News in numbers, Apr 20, 2016: Maggi noodles’ comeback, cash still preferred payment mode…

51%

What is it? The market share Maggi noodles has in the Rs 2,000-crore noodles market, according to Nestle India quoting Nielsen.

Why is it important? The popular snack, which was relaunched in November after a five-month ban, is yet to gain the commanding position it had before the ban – an 80.2% market share in the January-March quarter of 2015. The ban came after the food regulator found excess lead in its sample packets, which caused its net profit to shrink by over half to Rs 532 crore in the calendar year of 2015.

Tell me more: With two variants in the market, Nestle India would soon relaunch two more: atta and oats noodles. Before the ban, the market of instant noodles was estimated to be Rs 3,800 crore.

 

10%

What is it? The percentage of stake Housing Development Finance Corp. (HDFC) has agreed to sell in its insurance unit, HDFC Standard Life, to the public.

Why is it important? This will make the company the first life insurer in India to go for an initial public offering (IPO) and could set a precedent for other insurers.

Tell me more: The divestment plan is likely to roll out in the second half of 2015. HDFC Standard Life, a joint venture between HDFC and UK-based financial services provider Standard Life, recently saw the latter increasing its stake in the company by 9% to 35% for Rs 1,705 crore. This valued the company at Rs 18,951.4 crore.

 

6.7

What is it? The number of card transactions per person per year in India.

Why is it important? This is among the lowest in the world, reflecting the fact that cash is still the most preferred mode of payment in the country. The number compares poorly with other major economies: Australia (249.3), Canada (247.9), Korea (260.8), United Kingdom (201.7), Brazil (54.8) and China (14.4).

Tell me more: Another data point that highlights this is: usage of debit cards at ATMs account for 88% of volume and around 94% of the total value of debit card transactions while the corresponding figures for point of sale terminals are 12% and 6% respectively.

 

33 crore

What is it? The number of people affected by drought in 10 states in India, according to the Indian government.

Why is it important? The country is staring at one of the worst water crises in the recent past, with over a quarter of India’s population facing water shortage and agricultural distress. The government said it would launch large-scale water conservation and storage measures under MGNREGA, the rural employment scheme. The weather department’s forecast of an above normal rainfall this year is likely to bring some respite.

Tell me more: Uttar Pradesh is the worst-affected state accounting for nearly a third of the drought-affected people. The Indian government has disbursed Rs 19,551 crore this month under the rural employment guarantee scheme, which is half of the government’s annual budgetary allocation.

 

7,500

What is it? The number of small cases relating to service tax and customs – involving amounts less than Rs 15 lakh – that are being withdrawn by tax authorities from tribunals and High Courts.

Why is it important? This is likely to reduce the burden of pending cases on tribunals and courts. This move is also aimed at making the tax regime non-adversarial and to focus on cases based on merit alone and not on meeting collection targets.

Tell me more: Last December, the Finance Ministry had increased the threshold limit for filing appeals before the Customs Excise & Service Tax Appellate Tribunal and High Courts to Rs 10 lakh and Rs 15 lakh respectively.

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