News in Numbers, Aug 3, 2016: Share of diesel variants in cars, NGOs’ foreign funding…

🚘 Will you buy a diesel car today?

The reasons to buy a diesel car are coming down day after day. The percentage of diesel variants in new cars is just one in four now, from one in two a few years ago. This is just one of the five interesting numbers we picked for you today.

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Have a look at them, and please do share this post to your friends. Here’s the link to subscribe.

26%

What is it? The share of diesel variants in new cars in India as of May 2016

Why is it important? This is down from 52% four years ago. The decline is due to rise in diesel prices on the back of government cutting fuel subsidies. In June 2012, diesel price in Delhi was 41.28 per litre or Rs 26.50 lower than petrol prices. Now it’s Rs 54.3/litre, just Rs 6.84 lower.

Tell me more: In Delhi, diesel car sales have dropped significantly after National Green Tribunal said cars over ten years will be deregistered.

4 million

What is it? The number of tax arrears cases – where the due amount is less than Rs 5000 – likely to be waived off.

Why is it important? An application of the Pareto Principle, which says large effects come from a few causes. Writing these amounts off would help Income Tax department focus on large defaulters where the amount that can be recovered would be larger, and the probability of recovery would be higher.

Tell me more: Of the 4 million cases, 1.8 million cases have arrears of less than Rs 100, and the rest between Rs 101 and Rs 5000.

Rs 22,137 crore

What is it? Foreign contribution received by 3,068 non-governmental organisations (NGOs) in 2014-15.

Why is it important? This represents 83% increase in foreign funding for NGOs that received Rs 1 crore or more. In 2013-14, the increase was a modest 17%. As part of the plan to monitor foreign funding of NGOs more closely, Government cancelled registrations of more than 10,000 NGOs that did not file annual returns.

Tell me more: Six states – Delhi, Andhra Pradesh, Kerala, Maharashtra, Tamil Nadu and Karnataka – received 75% of the total amount in 2014-15.

8.5%

What is it? The drop in share price of Bharat Financial, formerly known as SKS Microfinance, after the company’s president S Dilli Raj was arrested by financial crimes investigators.

Why is it important? The company is among the biggest players in microfinance industry with claimed membership of 7 million, and Dilli Raj was the second-in-command. Bharat Financial claims the arrest was not related to the present company. It was based on a case filed by IDBI Bank against First Leasing Company of India, where Dilli Raj worked till January 2008.  First Leasing’s ex-MD Farouk M Irani was arrested in June this yearunder the same case.

Tell me more: Bharat Financial survived turbulent times when Andhra Pradesh government enacted a tough law to regulate micro lending in 2010. This law effectively meant most lending by microfinance firms couldn’t be collected from borrowers.

6

What is it? The number of hours West Bengal chief minister Mamata Banerjee had to wait before her turn came to speak at an inter-state council meeting in Delhi on July 16

Why is it important? West Bengal comes right at the end, if the state names are arranged alphabetically. Ms Banerjee was reportedly prompted by this to rename the state ‘Bengal’ in English and ‘Bangla or Banga’ in Bengali. The change would help it move to fourth position. The state cabinet cleared a proposal to this effect on Tuesday. However, it needs to be cleared by both houses of parliament in Delhi.

Tell me more:  This is the not the first time West Bengal proposed a name change. Earlier, it wanted the to be called Paschim Banga. The central government didn’t approve.

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