Overstaying our welcome

Rs 43,000 crore

What is it? The value of the Sahara Group’s flagship project, Aamby Valley, in Lonavala, Maharashtra, estimated by the official liquidator appointed by the Bombay High Court for an imminent auction.

Why is it important? The updated value, in recent reports, is a little higher than the range of Rs 37,00039,000 crore previously stipulated. However, it is still much less than the value claimed by the group of late: Rs 1 lakh-crore. The market value is expected to be higher than the estimate.

Tell me more: The group has said there would be no auctions, as it had paid the Rs 1,500-crore cheque it scheduled for June. However, its failure to deposit Rs 5,092.64 crore with the market regulator, Sebi, had led the Supreme Court to order its auction in April. The apex court had attached the property in February to recover the dues, whose main claimant Sebi is now joined by the Income Tax department as well.

 

19

What is it? The number of people killed in an explosion in a concert arena, being suspected as a terror attack, in Manchester, UK.

Why is it important? If it is confirmed as an attack by terrorists, this would be the second deadliest in the UK after London’s July-2005train and bus bombings. The 2005 attack had claimed the lives of over 50 people.

Tell me more: The explosion occurred at the end of a concert, as the audience was exiting the building, injuring over 50 people as well.

 

18,000

What is it? Estimated stock of General Motors (GM) vehicles with various dealers in India.

Why is it important? Dealers are unlikely to get any buyers for these vehicles, as the American automaker decided to exit India by December this year. GM’s dealers also warn of 15,000 job losses.

Tell me more: Suzuki Motor Corp, which sells every second car in India, had quit US market in 2012 because of low sales volume.

 

100%

What is it? The percentage of Foreign Direct Investment (FDI) that government is planning to allow in multi brand retail in India.

Why is it important? If permitted, this represents a change in the thinking of Bharatiya Janata Party, which has opposed such moves when the Congress-led United Progressive Alliance was in power. Domestic retail market is estimated at $ 630 billion market and employs around 5% of labour force.

Tell me more: At present, 51% FDI is allowed in multi brand retail in cities with population of more than a million, and with approval of state governments. Current proposal bans selling of imported products.

 

30,399

What is it? The number of Indians who have overstayed in US, beyond what was permitted under different visa categories.

Why is it important? Indians account for 4.8% of total number of people who have overstayed, estimated at 628,799 at the end of September 2016. Around 1.4 million Indians holding various visas (business, tourism, student, and others) were expected to leave US by September 2016.

Tell me more: 50.43 million people who entered US were expected to depart in 2016, and out of which, 1.47% overstayed. Overstay rate for Indians is 2.1%.

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News in Numbers, Mar 07, 2017: Landing in a small town ✈

Rs 4,500 crore

What is it? The amount the government plans to spend on developing or upgrading 50 airports which were either underserved or unserved.

Why is it important? The government is going ahead with its plans to equip small regional airports/airstrips to ferry traffic, even as only 13 out of 125 airports under the Airports Authority of India’s (AAI) are profitable. Besides the funding for developing the new airports, the authorities will also spend further on incentivising flight operators with gap-funding. Fifteen more regional airports have to be upgraded besides the 50, according to AAI’s Regional Connectivity Scheme (named UDAN).

Tell me more: Fifteen airports will be refurbished in FY18 and FY19, and 20 more in FY20.

 

2 paise

What is it? The rate for one megabyte (MB) of data over WiFi at local public hotspots, as proposed by Trai, the telecom regulator.

Why is it important? This would help increase the demand and setting up of local public hotspots. With one-sixth of the world’s population, India’s share in WiFi hotspots is less than one-thousandth. By reducing the price of wireless Internet access from the existing 10 paise an MB in mobile telecom services, Trai is looking provide 800,000 additional hotspots to equal the global average of one hotspot for every 150 people.

Tell me more: Trai’s proposed local hotspots could be maintained by small entities, from small businesses, communities, individuals, to application providers. Local players’ involvement would also reduce the load on strained spectrum of established mobile operators.

 

$2.3 billion

What is it? The value of the sale of General Motors’ Opel/Vauxhall unit and its European financial arm to Peugeot-maker PSA Group.

Why is it important? It shows one of the largest car manufacturers in the world is changing lanes from a widespread but unprofitable presence to a less-global, but profitable one. A few years ago, the top three — Volkswagen, Toyota and GM — would eye the world-leader crown every year with units of cars sold. Selling its Europe unit would increase the gap between GM and the other two, but it would also free it of an arm that has incurred losses since 1999.

Tell me more: The Opel/Vauxhall brand contributed 11% of GM’s total revenue in 2016. After bankruptcy in 2009, GM’s home market in North America has done well.

 

Rs 259.8 per hour

What is it? The median gross hourly salary of women in India in 2016, according to the Monster Salary Index.

Why is it important? That is about 25% less than what men earned at Rs 345.8 per hour. While the gap has come down marginally compared to a year before, it highlights the ground that needs to be covered before India has fair and non-discriminatory workplace.

Tell me more: The gender gap is just one of the many indicators of gender inequality in the country. Infant mortality rate for female is higher, the expected years of schooling is lower, unemployment rates are higher, access to finance in terms of loans and deposits are lower.

 

$2.46 billion

What is it? Value of investments in Indian startups by private equity and venture capital firms in 2016, according to Grant Thornton.

Why is it important? This is down by about half from $4.97 billion in 2015, and indicates that investors are more cautious about the expectations of growth in the market. It also reflects the valuation markdowns that unicorns such as Flipkart faced in the recent months.

Tell me more: Overall investments by PE and VC investors dropped in 2016, with $14 billion invested across in 971 deals in 2016, from $16 billion invested in 1,045 deals a year before.

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