Monsoon cracks on ☔

6%

What is it? The percentage above normal registered by monsoon rainfall till July 2.

Why is it important? The monsoon, which accounts for over 70% of India’s annual rainfall, is the primary source of irrigation for half of the country’s cropland and refills over 80 nationally-monitored water reservoirs (important for drinking purposes, power and irrigation).

Tell me more: The monsoon is expected to cover the country by July 15, on schedule. The onset of the southwest monsoon has led farmers to plant 19% more hectare with rain-dependent kharif crops than last year (22.2 million hectare over 18.7 million hectare).

 

8%

What is it? The hike in Bharti Airtel Chairman Sunil Bharti Mittal’s annual pay in 2016-17.

Why is it important? Mittal’s pay increased despite India’s largest telecom operator  suffering a sharp decline in annual consolidated profit this year due to intense competition. In 2016-17, Bharti Airtel’s consolidated net profit was Rs 3,799 crore, registering a fall of 37.5%. Mittal’s income rose from Rs 27.8 crore to Rs 30.1 crore in the same year.

Tell me more: Bharti Airtel Managing Director and CEO (India and South Asia) Gopal Vittal earned nearly 50% more than last year, as well. It is unlike the trend in another sector: chiefs in the IT industry such as Infosys CEO Vishal Sikka and Wipro Chairman Azim Premji have taken cuts in their pay, in line with performance goals.

 

28%

What is it? The percentage of women students who secured admission to the post graduate programme in management at the Indian Institute of Management, Ahmedabad (IIMA) – the premier business school.

Why is it important? This was achieved without giving extra marks or gender-specific quotas. IIMA decided to give lower weightage to the score from the Common Admission Test, an entrance exam for getting admission to business schools, and invite candidates from non-engineering background for the interviews.

Tell me more: Around 85% of students in IIM, Bangalore are from engineering background, and within that 50% are from Indian Institute of Technology and National Institute of Technology.

 

33.6 million

What is it? The number of youth in the 18-19 age group who remain unregistered on the voters’ list.

Why is it important? This number is 60% of eligible voters in the age group of 18-19 years. However, the number of eligible voters not enrolled has come down from 90% six years back. Indian citizens are allowed to vote after reaching 18 years.

Tell me more: The Election Commission of India is running a month-long drive in July to persuade them to register. For the generation hooked on social media, EC has tied up with Facebook to host a special button for registration.

 

Upto Rs 32

What is it? The hike in the cost of an LPG or cooking gas cylinder.

Why is it important? Household LPG cylinders are set to become costlier because under GST it is under the slab of 5% taxation, higher than the VAT levied earlier by some states at 2-4%. Further cuts in subsidy of LPG connections in June will compound the price rise, and go up to Rs 32 extra for each cylinder in some states.

Tell me more: The last subsidy cut was in May of around Rs 2, implementing the government’s target of eliminating it through small increases.

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News In Numbers – August 19

News In Numbers: August 19

 

79.7%

The percentage of the total income of five national parties in 2013-14 whose sources are unknown. In all, Congress, CPM, BSP, NCP and CPI have declared a total income of Rs 845 crore in 2013-14. Among the top unknown sources of income, the sale of coupons dominated with 57%; the Congress and NCP collected Rs 485 crore, which is 57.5% of the cumulative income declared by the five parties. In November 2014, the Election Commission of India laid down certain guidelines with respect to the funding collected by political parties for elections and made it mandatory for them to submit audited reports to it. The only party to not submit its report is BJP, despite a deadline extension. Between 2004-05 and 2011-12, about 75% of the total income of these six national political parties came from funds whose sources are unknown.

 

43,818

The number of passengers affected by flight delays in July, according to the aviation regulator. About 60% of these passengers were flying Air India, while about 17% were on IndiGo. The number of people affected due to flight cancellations stood at 7,224 in July, of which nearly two-thirds had booked with Air India, Jet Airways and JetLite. They received a total of Rs 39.2 lakh compensation and other facilities. Domestic airlines carried 67.5 lakh passengers in July and Indigo continued to lead with a 35.8% market share

 

2

The number of funds of the Small Industries Development Bank of India (SIDBI) launched by Finance Minister Arun Jaitley on Tuesday for start-ups and small firms. The India Aspiration Fund, with an initial corpus of Rs 2,000 crore, will invest in venture funds, who will subsequently invest in start-ups and micro and small enterprises (MSMEs). The other fund, called SIDBI Make in India Loan for Enterprises (SMILE), will provide soft-term loans and quasi-equity loans to MSMEs. India, which is the third largest start-up ecosystem in the world, is home to over 3,100 startups and there have been 300 venture capital and private equity and 225 angel investment deals worth over $2 billion. Ahmedabad has the highest paid-up capital of companies per person at Rs 961.

 

Rs 3,800

The proposed per capita spend on health by the government, from Rs 1,000 being spent at current prices. The government plans to increase public investment in health from 1.4% to 2.5% of India’s GDP by 2020. About 70% of this would be for primary healthcare, 20% in secondary healthcare and the remaining on tertiary healthcare. The government had slashed its 2014-15 budgetary allocation for health by about 20%. Also, since the BJP-led NDA government came to power in May 2014, India saw a cut of 20% in the National Health Mission and a 10% cut in the Integrated Child Development Services. Health budgets have remained under-utilised in the last few years in the country and India ranks 176 in terms of public health spend as a percentage of its GDP.

 

13%

The percentage of the total amount invested in the telecom sector in FY15 that went towards infrastructure. Department of Telecommunications Secretary Rakesh Garg has criticized telecom companies for spending most of their money in acquiring spectrum, and not investing adequately in infrastructure, leading to an increase in call drops. A total of Rs 1,34,000 crore was invested in the telecom sector in 2014-15. For the quarter ended December 2014, one in seven 2G mobile networks and one in six 3G networks in India exceeded the benchmark rate of 3% for call drops (service provider is unable to maintain connectivity). Telecom companies have been maintaining that these call drops are mainly because of spectrum and tower shortages, though Garg hit back at them saying this has got nothing to do with the closing down of tower sites. The government has asked the telecom regulator to check if telecom companies are making undue gains from call drops.

 

 

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