News in numbers, Oct 2, 2015: Worst monsoon season in six years, Apple’s India plans…

 

14% deficit

What it is? The deficit rainfall this monsoon season in India.

Why is it important? It’s the worst in six years. 80% of annual rainfall happens during the four-month window between June and September, and a deficit will directly impact agricultural production and rural income.

Tell me more: States that have higher irrigation coverage will be able to mitigate the deficit to an extent, and the others will not be. Production of cotton, pulses and oilseed crops will be impacted.

 

5%

What it is? The increase in bank credit to industry in August 2015 compared to same month year-ago.

Why it is important? Bank credit to industry account for 43% of total loans and is considered a good indicator of growth prospects of industrial sector. Except for four sectors like basic metal, engineering, chemical and chemical products, and gems and jewellery, the credit growth has slowed down. Low inflation can also result in reduced credit demand, as companies would need less working capital.  .

Tell me more: Reserve Bank of India reduced its lending rate to banks by 50 basis points on Tuesday. Industry lobby groups have been arguing for lower interest rate to boost the economy.

 

50 paise

What it is? The increase in Diesel prices per litre.

Why it is important? The last scheduled revision of price on September 16 was put off, raising question mark whether government is putting pressure on state-run oil retailers from raising prices because of Bihar assembly elections. Petrol prices were left untouched.

Tell me more: Globally, there is a glut in diesel supply as refiners from China are boosting exports because of low domestic demand. This in turn is putting downward pressure on crude oil prices.

 

$2.6 billion

What it is? The value of Indian shares that foreign institutional investors sold in september quarter

Why it is important? That’s the highest in the last five years. Indicates the tepid interest in Indian stock markets by FIIs – but it’s really an emerging market phenomenon. Chinese stock market turmoil has made several investors worried, and there is a chance that interest rates in US might rise.

Tell me more: While investors are worried about the delays in economic reforms – from labour to land – India is likely to be viewed favorably by FIIs in a longer term.

 

12 lakhs

What it is? The number of iPhones Apple wants to sell in India in the next three months

Why it is important? It sold just as many in the whole of last year, and shows Apple’s increasing interest in and growing ambitions for India. It has upped it ad budget more than proportionally. It’s launching the latest version of its iPhones – 6S and 6S Plus – on October 16th in India.

Tell me more: Apple sold 13 million phones globally over the weekend, driven by a huge demand in China. Apple has its own retail outlets in China, opening the first one as early as 2008. China has 20 of them now – a fraction of USA’s 266 – but not too far from other leading markets for Apple products. India has none yet.

 

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News In Numbers – July 28

News In Numbers: July 28

 

13%

Percentage of assets owned by foreign institutional investors (FIIs) through participatory notes as of March 2014, according to India’s capital market regulator. One of the reasons given for the fall in share prices yesterday was that the Supreme Court-appointed SIT on black money had suggested greater scrutiny of participatory notes by the regulator. Participatory notes essentially allow foreign investors to trade in the Indian capital market without disclosing their identity to authorities. It is suspected that this lower benchmark, besides easing processes for foreign investors, also facilitates the flow of tainted money into Indian markets.

 

6

India’s rank out of 124 countries in the Global Terrorism Index 2014. Slotting in behind Iraq, Afghanistan, Pakistan, Nigeria and Syria, India recorded a score of 7.86 on a scale of 0-10 (with 10 being the highest) and accounted for 2.2% of global terrorist deaths. Between 2004 and 2015 (till July 19), there were 64,392 terrorism-related fatalities in India, with civilians and security force personnel accounting for 38.1% and 15% of deaths, respectively, the rest being terrorists. India witnessed its latest terror attack on Monday, in Punjab, when terrorists in army uniform fired at a moving bus and attacked a police station. The 12-hour gun battle resulted in 10 deaths, including that of all three terrorists.

 

8.5%

The Central government, public sector banks and paramilitary forces recruited 9,303 people from minority communities (non-Hindu communities) in 2014-15 or 8.5% of total recruitments. About 60% of hirings were by public sector banks and financial institutions, while paramilitary forces accounted for 25%. According to the 2001 Census, minority communities — including Muslims, Christians, Sikhs, Buddhists, Jains and Parsis — formed 19.4% of the Indian population. The government is yet to publish the 2011 census figures on religion.

 

131

India’s consumer confidence score in The Nielsen Global Survey of Consumer Confidence and Spending Intentions for the second quarter of 2015, the highest among all countries and a level last recorded by India in 2011. The latest survey score is despite 50% of respondents in the online survey feeling that India was still in an economic recession. The consumer confidence survey conducted by India’s central bank in March 2015 in six metro cities had shown 80% of the 5,400 respondents saying they were inclined to spend more.

 

160

The number of licenses of petrol and diesel retail outlets that have been terminated across India for malpractices such as under-measurement and adulteration of transport fuels between April 2012 and June 2015. During this period, the three state-run oil companies — IOC, HPCL and BPCL — have found 3,516 retail outlets guilty of under-measuring fuels and 195 units of adulteration. Uttar Pradesh, Rajasthan, Tamil Nadu, Punjab and Maharashtra lead in such malpractices. Between April 2011 and September 2014, these companies terminated the licenses of 193 outlets.

 

 

 

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