News in Numbers, Mar 24, 2017: Be afraid. Do something. 🏥

$6.5 billion

What is it? Snapdeal’s last known valuation, done in 2016.

Why is it important? The valuation, at which the e-commerce company raised $200 million funding in February, 2016, is likely to take a hit. Since then, it has been dogged by failed funding search and sale, as its sales trail its main competitors in India. A report two days back, later refuted by the company, put tentative sale price at $1.5-1.8 billion, almost at a third. Another report yesterday said Snapdeal was unable to rope in investors such as Alibaba Group and existing investor Softbank for fresh funding.

Tell me more: Snapdeal’s made a loss of Rs 29.6 billion rupees in FY16.

 

~Rs 1,600 crore

What is it? The estimated price Bharti Airtel will pay for Tikona Digital Networks Pvt. Ltd’s 4G network.

Why is it important? The deal, giving Bharti Airtel access to Tikona’s broadband wireless spectrum and 350 cellular sites in five circles, will expand the former’s reach, particularly in cities where it lacks strong presence in 4G services. It has already lined up high-speed 4G services for these circles, even as it locks horns with Reliance Jio.

Tell me more: The overall deal value might be a little more at Rs 1,700 crore s Bharti Airtel as to take on debt on Tikona’s books. Recently, Airtel also announced acquisition of Norway’s Telenor’s India operations, with 44 million subscribers.

 

13 degrees

What is it? The rise in the Celsius scale in Delhi in the span of 10 days.

Why is it important? In line with warnings of extreme climate and unpredictable weather changes due to global warming, spring bid adieu to the capital city quicker than usual. Thursday’s temperature of 37.4 degree-C was seven degrees above normal and the highest in March since 2010.

Tell me more: The heat onset is despite the recent spate of rain and snow in the hills. The capital is now buffeted by hot summer’s wind patterns, says Ravinder Vishen, head of IMD’s Regional Weather Forecasting Centre.

 

$70 million

What is it? The amount raised by Soundcloud, a music streaming firm based in Berlin.

Why is it important? It came in form of debt, while most tech startups tend to go for equity. There is an intense debate on which form of capital is better for a high growth company (Soundcloud said it wants to grow 2.5 times in 2017). Debt could be useful for a company if it believes it is not getting a fair valuation from equity investors, but there are risks, as one of the early backers of Soundcloud argued in a post recently.

Tell me more: Soundcloud, which faces increasing competition from Apple Music, Pandora and Spotify, tried to raise $100 million in equity recently, but didn’t succeed.

 

25%

What is it? India’s share in global tuberculosis cases, according to a new study by  Centre for Disease Dynamics, Economics and Policy

Why is it important? India has the most number of TB cases in the world. Indian government’s ability to counter the crisis has come into question. An added level of danger and complexity is the growing number of multi-drug resistant TB cases. In Mumbai such cases grew by 21% in 2015-16.

Tell me more: Multi-drug resistant TB tends to be fatal, with 40% of the patients succumbing to the disease. India lacks tools that can detect such cases.

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News in Numbers, May 12, 2016: New drought policies, some Amazon India sellers in trouble…

3

What is it? The number of months the government has to set up a National Disaster Mitigation Fund to tackle drought, per Supreme Court directions.

Why is it important? This would accelerate and streamline drought relief and preparations, and mitigate its impact including farmer suicides. Over 330 million people (about a quarter of India’s population) are drought-hit and 116 farmers have committed suicide in 10 states so far.

Tell me more: Other measures listed by the Supreme Court include: replace colonial methods and manuals with a modern, transparent, rule-based framework to deal with drought, implement provisions of the National Disaster Management Act and formulate a national policy under it, revise the existing drought management manual of 2009 and standardised nomenclature. The apex court rapped three states – Gujarat (for delay in acknowledging drought), Haryana and Bihar (for not declaring drought at all).

 

Rs 9,000 crore

What is it? The value of domestic assets and shares of liquor baron Vijay Mallya, which the Enforcement Directorate (ED) is reportedly considering to attach, in relation to the IDBI bank loan fraud case.

Why is it important? Mallya’s assets and shares are being examined to be attached under the Prevention of Money Laundering Act so that no third-party rights can be created in them, according to an ED official. However, attachment and attempts to sell Mallya’s properties have not fetched the authorities/banks anything so far.

Tell me more: The IDBI Bank loan fraud case pertains to an allegation by the investigating agency that Mallya has siphoned off Rs 430 crore from the Rs 900 crore loan given by the bank to his now defunct firm Kingfisher Airlines, to buy properties overseas. The grounded airline owes around Rs 9,000 crore to 17 banks.

 

50

What is it? The number of sellers of Amazon India who have been alleged to falsely claiming credit on Central Value Added Tax (Cenvat).

Why is it important? The alleged tax evasion – using the provision that allows tax relief on inputs for a product or service – could be about Rs 118 crore. It also highlights the tough time global tech companies – others include Facebook, Uber and Google – have been facing in India.

Tell me more: The authorities has questioned Amazon India and conducted searches in its business premises across the country to determine if Amazon is involved in any wrongdoing related to this case.

 

4

What is it? The number of telecom circles Vodafone will launch 4G services in, over the next few months.

Why is it important? This would help India’s second largest telecom service provider to cover 1,000 cities across nine circles by the end of this year, which will likely contribute to the onset of a pricing war and consolidation in the industry. Bharti Airtel is aggressively pushing to establish dominance in the 4G segment before Reliance Jio’s expected launch by the end of the year.

Tell me more: The new circles are Haryana, Gujarat, Uttar Pradesh East and West Bengal. According to a Deloitte India report, a third of the mobile users in the country are expected to adopt 4G services by the end of the year, possibly resulting in the reduction of traditional voice calls.

 

11

What is it? The average age of US technology companies that went public in 2014, compared to four years in 1999.

Why is it important? An indicator that these firms are shying away from an initial public offering (IPO) longer than earlier due to rapid increase in private investor money. Poor performance of IPOs of tech companies in the last few years have not helped. This is likely to change the way investments are done in tech startups, given that investors have to wait longer to realise their returns.

Tell me more: The data is according to a research by Jay Ritter, a University of Florida professor, which points to the fact that tech companies are preferring the private route to grow into unicorns (startups valued at over $1 billion) and decacorns (valuation above $10 billion) instead of the public listing route.

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News in numbers, Apr 11, 2016: Kollam temple fire accident, Pak’s infiltration attempts…

> 100

What is it? The number of people killed by fire and explosions caused by fireworks at Puttingal Temple in Kollam district of Kerala.

Why is it important? Though Kerala temples have seen fire accidents in the past, the scale of Sunday’s disaster is one of the largest. Rules are often flouted or ignored during such festivals. The Puttingal temple authorities did not have permission for any kind of fireworks, not even to store them. As many as 20,377 fire accident cases killed 19,513 people in 2014.

Tell me more: The Puttingal Temple accident has injured nearly 400 people. A judicial enquiry was set up on Sunday to investigate why the temple authorities went ahead with the fireworks when there was no permission granted.  

Rs 12,230 crore

What is it? The amount the central government has released to the states for rural employment guarantee programme, MGNREGA.

Why is it important? This is likely to provide some respite to people in rural areas at a time when nearly half of India’s 676 districts are facing drought. The move comes after the Supreme Court pulled up the government last week for not releasing adequate funds on time for the MGNREGA scheme.

Tell me more: The government has also reduced the estimated number of person-days by 220 million in 2016-17 from 2,391 million person-days the previous year. This means fewer people would get work or there would be lesser work for those who apply for the scheme, which is supposed to be demand-driven.

$20 billion

What is it? India’s proposed investments in oil and gas, petrochemical and fertiliser projects in Iran.

Why is it important? If this goes through, India could get access to cheaper gas in addition to land for various projects and Iran could increase its crude oil exports to the levels that existed before Western sanctions. The likely deals would help revive Indo-Iranian relations, which had gone downhill after India shied away from investments in Iran due to the sanctions.

Tell me more: Iraq replaced Iran as India’s second largest crude supplier after the Western sanctions were imposed. Currently, Iran is India’s fifth largest crude supplier.

Rs 3,500 crore

What is it? Bharti Airtel’s investment to acquire 4G spectrum from Aircel in eight telecom zones.

Why is it important? This makes Bharti Airtel the first telecom operator to have 4G services across the country, strengthening its position ahead of the likely 4G war. Reliance Jio, which has spectrum access in all the 22 circles, would launch by the end of the year.

Tell me more: Sunil Bharti Mittal’s firm would acquire 4G spectrum in Tamil Nadu (including Chennai), Bihar, Jammu & Kashmir, West Bengal, Assam, the North-East, Andhra Pradesh and Odisha. This spectrum is valid up to September 20, 2030. Last month, Bharti Airtel bought Videocon’s entire spectrum (in six circles) for Rs 4,428 crore.

100

What is it? The number of infiltration attempts from Pakistan into India in 2015 (against 222 in 2014).

Why is it important? The Indian government has approved a five-layer plan to stop infiltration on India’s 2,900-km western border shared with Pakistan. At a reported cost of Rs 1 crore per kilometre, the security upgrade would help in preventing incidents such as the Pathankot attacks and smuggling.

Tell me more: The five-layer plan includes the multiple use of technologies such as CCTV cameras, thermal image devices, night vision devices and laser barriers, and a control room set up at every 5-6 km of the stretch. Two pilot projects in 5-km stretches each in Punjab and Jammu commenced two weeks ago.

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News in numbers, Apr 8, 2016: IIT fees increased, share of loss-making public companies…

5 million

What is it? The number of Reliance Communications’ (RCom) customers who will be migrated to fourth generation network operated by Reliance Jio, the yet-to-be launched telecom venture by Mukesh Ambani controlled Reliance Industries (RIL).  

Why is it important? This will be a test of call quality and broadband speed of Reliance Jio, whose launch is delayed to end of 2016. For RCom, owned by Mukesh’s younger brother Anil Ambani, the deal will help to launch the 4G services without spending much on setting up additional infrastructure.    

Tell me more: The two brothers signed a deal to share resources. RCom will share its network and spectrum, and RIL will allow RCom customers to use its network.    

 

Rs 2 lakhs

What is it? Revised annual fees payable by undergraduates studying at Indian Institute of Technology (IIT). The earlier fees was Rs 90,000 per year.

Why is it important? The upward revision will cut government’s subsidy bill. The central government spends Rs 6 lakh each year to educate one student. The increase will be spent to improve the infrastructure within IIT’s.

Tell me more: Students from Scheduled Caste, Scheduled Tribes and most economically backward families (annual income of less than Rs 1 lakh) will not be required to pay the fees. For rest, either partial remission of fees based on family income or bank loan is made available.

 

18%

What is it?  The Goods and Services Tax rate that finance minister Arun Jaitley says will be a part of the GST Bill

Why is it important?  The move – to make the 18% cap a part of the bill – might lower the resistance from the Congress Party to the passing of the bill in the parliament. While there is consensus about the tax rate – proposed by a committee headed by chief economic advisor Arvind Subramanian – the government was reluctant to include any rate in the bill (as demanded by Congress) because it puts a constraint on raising tax revenues.

Tell me more: Experts have argued that implementation of GST will widen tax base, eliminate myriad taxes and their cascading effects, simplify compliance and help center and state tax administrations work together efficiently.

 

30%

What is it? The percentage of State Level Public Enterprises estimated to be incurring losses, per Reserve Bank of India.

Why is it important? The losses have adverse impact on state budgets, leaving less funds for development. The financial performance reflect poor management and excess manpower at the state run enterprises as well as policies such as administered prices and other market conditions.

Tell me more: There are 849 state level public enterprises operating in the areas of manufacturing, finance, power, infrastructure, agriculture and allied services and employ over 18 lakh people.

 

€ 1,500

What is it? Fine payable for anyone caught paying for sex in France. For second offence, the fine will increase to Euro 3,750 and an entry in that person’s criminal record.   

Why is it important? The law passed by the French parliament will criminalize paying for sex rather than the act of soliciting sex. France follows the model adopted by Norway and Northern Ireland. Opponents of this approach say this pushes prostitution underground.   

Tell me more: There are 3 million sex workers in India and 40% of them are children, as per Ministry of Women and Child Development estimate in 2007. Sex workers are allowed to practise in their private homes individually, but organized prostitution is banned.

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