News in Numbers – May 27, 2016

Rs 1211.65 crore

What is it? The net profit of Jet Airways in FY 2016 .

Why is it important? The carrier, which controls a little less than a fifth of market, is making a profit after eight years. While the profits came mainly as a result of lower fuel prices, the company was also working on a restructuring plan that aimed for profitability by FY 2017.

Tell me more: In the quarter ended March, the airline made a net profit of Rs 426 crore against a net loss of Rs 1,803 crore a year before. Sales was up 6% to Rs 20,572.22 crore.

65

What is it? The new retirement age of doctors serving in government hospitals (from 62 in some states and 60 in others at present).

Why is it important? This is expected to address the shortage of doctors in the country. India has acute shortage of doctors, just seven for 10,000 people, against the global average of 14. In rural areas, the problem is even worse. More than 8% of 25,300 primary health centres had no doctors.

Tell me more: Prime minister Narendra Modi made this announcement at a rally that was held to mark his two years in the office. It will be approved by cabinet this week.

6600 km

What is it? The length of the transatlantic cable that will connect United States with Southern Europe

Why is it important? Capable of carrying 160 terabits of data per second, it will address the growing demand for demand for high-speed cloud and online services. More importantly, it is to be built by Facebook and Microsoft, underlining the infrastructural investments they need to make to keep their services business growing. It is expected to be complete by October next year.

Tell me more: Google is building a 9000 km undersea cable connecting US and Japan.

 

500

What is it? The number of tinkering labs the government will establish in schools over the next five years.

Why is it important? This is to help students understand science concepts.  Nearly three-fourths of higher secondary schools (class 11 and 12) don’t have separate science labs. The tinkering labs will help bridge this gap in a small way, as there are 109,318 higher secondary schools in India in 2014-15.

Tell me more: Each school will receive a grant of Rs 10 lakh to set-up these tinkering labs, and another Rs 10 lakh spread over five years to meet operational expenses.

Rs 556,715

What is it? Median salary of a TCS employee in 2015-16.

Why is it important? Only a tenth (or around 1.1 million) of India’s salaried tax payers earn more than that amount. Shows the importance of software industry, which employs over 3.5 million people. Median salary at Infosys is Rs 524,064

Tell me more: TCS CEO earned Rs 25.6 crore, around 459 times more than the median salary. In comparison, Vishal Sikka, CEO of Infosys, earned Rs 49 crore or 935 times the median salary.

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