News in Numbers, Jan 19, 2017: Regional routes take flight

45

 

What is it? Number of initial proposals for operating flights with fares capped at Rs 2,500 for an hour under the Airports Authority of India’s Regional Connectivity Scheme (named UDAN)

Why is it important? The bidders propose to operate from 65 airports, out of which 52 are not served by any airlines, boosting regional air connectivity. But operating on the 200 regional routeswould also mean low pre-mandated airfares, for example, a fare of Rs 2,500 for an hour’s journey of 500-km. Central and state governments will then help operators with viability gap funding, partly funded bythe Rs 8,500-levy on each departing flight on major routes.

Tell me more: The initial quotes are subject to counter quotes, with the lowest requirement for VGF winning the bid. Groundwork by the Ministry of Civil Aviation with AAI, State Governments, DGCA and Bureau of Civil Aviation Security have begun.

 

Rs 9.2 trillion

 

What is it? The value of new currency notes injected by the Reserve Bank of India to replace old banned notes.
Why is it important? Despite RBI pumping in nearly 60% of the amount removed (Rs 15.44 trillion) from circulation following demonetisation, there is no sight of the end to cash-withdrawal restrictions. RBI governor, Urjit Patel, facing a parliamentary panel on finance, did not elaborate on either the easing of the cash crunch or the amount of banned notes deposited.

Tell me more: Patel assured the panel that RBI would provide details of deposits of banned notes on a later date.

 

47.8%

 

What is it? The percentage of rural school students in class 5 who are able to read a book prescribed for class 2 learning.

Why is it important? The learning level in schools in rural India remains dismal as less than half of class 5 students can read books meant for three standards lower (class 2). The proportion has deteriorated from 2014’s 48% and 2010’s 53.7% of students, despite 97% enrollment in schools.

Tell me more: Class 5 students in private rural schools fared better with 62.9% of them above to read class 2 books, while only 41.6% from government schools made the cut in 2016. The findings are from the 11th Annual Status of Education Report (ASER), conducted in 589 districts, and previously published in 2014.

 

0.94 degree-Celsius

 

What is it? The above-normal deviation in average land and ocean temperature in the whole of 2016.

Why is it important? It establishes 2016 as the hottest year so far, a dire reminder of climate change that is plaguing the planet. Temperatures spiked to new national highs in India, Kuwait and Iran and Arctic ice melted faster than ever as a result of the global warming.

Tell me more: The year broke the record for the hottest ever, third year in a row since records were kept from 1880.

 

7.05 million

 

What is it? Netflix’s net subscriber addition in the fourth quarter of 2016 (ended December 31).

Why is it important? The robust growth in subscribers signal Netflix’s ambitious global expansion is bearing fruit, as Internet TV catches on. Nearly 73% (5.12 million) of the additions came from markets outside the US. Netflix which made a big-bang launch in 130 countries simultaneously in January, 2016, saw its shares rise up by 8 per cent after its results.

Tell me more: Competition is snapping at Netflix’s heels as Amazon.com unveils its Amazon Prime Video service worldwide.

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