News in numbers, Nov 30, 2015: Climate change cross-border flows, Spicejet’s FY17 plans…

 

$2.2 billion

 

What is it? The cross-border flows from 17 special climate funds since their inception, according to a discussion paper by the Department of Economic Affairs, India.

 

Why is it important? Stating this figure, the Economic Affairs Secretary has said that the Organisation for Economic Co-operation and Development’s (OECD) claims that the rich nations had provided an average of $57 billion in 2013 and 2014 in climate finance flows are flawed. This is a serious allegation against the world powers and is a far cry from the goal of $100 billion annual climate finance flows. This also comes at a time when Prime Minister Narendra Modi has left for Paris to participate in the global climate change conference that begins on Monday.

 

Tell me more: The discussion paper has also questioned the methods and accuracy of reporting of the numbers in the OECD report. It remains to be seen what steps the government would take as the discussion paper states that it doesn’t reflect the views of the government.

 

8-10%

 

What is it? Likely percentage of power that distribution companies have to mandatorily buy from renewable sources by 2022.

 

Why is it important? The current target is 3%. The increase would be challenging for some state electricity boards, given that a majority of them have been unable to meet their renewable purchase obligation (RPO) targets. Experts say, one of the biggest challenges faced by the Indian government would be the enforcement of RPO targets.

 

Tell me more: The government has set an ambitious target of adding 175 GW of capacity from clean energy sources by 2022.

 

6.09 lakh

 

What is it? Number of grievances regarding central government and ministries filed on the Central Public Grievance Redress and Monitoring System (CPGRAMS) portal since the beginning of 2015.

 

Why is it important? This is a nearly threefold jump from the number of grievances lodged in 2014. Shows one of the two things or a combination of the two: increase in dissatisfaction levels against the central government and ministries or increase in belief that grievances filed with the government is likely to be resolved.

 

Tell me more: The government has resolved nearly 80% of the grievances filed in the current year with the disposal rate being higher at 90% in 2014 and 2013.

 

150

 

What is it? Number of aircraft Spicejet is planning to buy in 2016-17.

 

Why is it important? A sign of ongoing turnaround. The second biggest budget airline by market share, was near bankruptcy last financial year, and has started reporting profits during the last three quarters.

 

Tell me more: Earlier this month, Jet Airways placed its largest ever aircraft order of 75 Boeing 737 Max 8 Aircraft (at a list price of $8 billion) while in August, Indigo finalised the purchase of 250 Airbus A320neo Aircraft (a deal worth $26.55 billion at list prices).

 

481 million

What is it? Projected number of people without access to clean cooking facilities (and instead use solid fuels such as wood and coal) in India by 2040, all living in rural areas, according to a report by the International Energy Agency (IEA).

 

Why is it important? The projected number is 30% of the Indian population. At present the number is 840 million or over two thirds of population. Use of improved solid biomass cookstoves, biogas systems, LPG, ethanol and solar stoves are considered to be safer, more efficient and environmentally more sustainable than the traditional methods of depending on energy derived from wood, sawdust and crop waste.

 

Tell me more: These projections are based on ‘New Policies Scenario’ which takes a cautious view factoring in regulatory, financial and administrative barriers and IEA has another set of projections based on if India’s key targets such as ‘Make in India’ and ‘Electricity for all’ are achieved in full.

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News in numbers, Nov 3, 2015: Coffee Day’s market debut, impact of bridging gender gap…

17.64%

What is it? The first day decline in stock price of Coffee Day Enterprises, which runs India’s largest coffee chain Cafe Coffee Day, post its listing in stock market on Monday.

Why is it important? An indicator that the shares might have been overpriced. Even during the IPO, the offer received muted response from retail and non institutional investors (these two categories were subscribed only upto 90% and 53%, respectively)

Tell me more: It remains to be seen how the other big listing by InterGlobe Aviation (which runs Indigo Airlines) would fare. It will debut later this month. The company raised Rs 3,010 crore in an initial public offering.

 

17%

What is it? India’s share of women’s contribution to the country’s GDP, according to a McKinsey Global Institute report.

Why is it important? It is 20 percentage points lower than the global average of 37%. This shows the extent of efforts India needs to take in order to come closer to gender parity.

Tell me more:  Among Indian states, Mizoram, Meghalaya, Kerala, Goa and Sikkim are the best in terms of gender parity score (GPS) ranging between 0.70 and 0.64. And, these states account only for 4% of Indian working women. Bihar, Jharkhand, Assam, Madhya Pradesh and Uttar Pradesh are the worst in terms of GPS and these account for 32% of the country’s working women population.

 

2.66 lakhs

What is it? The number of cars sold by Indian carmakers in October.

Why is it important? The third highest sales recorded in a month in the history of Indian automotive industry. It’s 22% more than what they sold in October last year. Due to a prolonged economic slowdown, carmakers in India have been struggling with low demand, lesser sales and excess capacity. It remains to be seen if car sales (considered to be a proxy of how well an economy is doing) continues to grow at the same pace or faster after the festive season is over.

Tell me more: October also saw the two-wheeler segment breaking into a double-digit growth with Hero Motocorp and Honda posting their highest ever sales in a month.

 

4.4%

What is it? The percentage drop in net sales of 622 companies in the second quarter of 2015-16 compared to same period last year.

Why is it important? Shows the dominance of oil and gas sector, and the impact of petroleum prices. Excluding the four oil and gas sector majors – Reliance Industries, Cairn India, MRPL and Petronet LNG – the net sales is up 4.9%.

Tell me more: While the net sales came down, profits went up 7.2% during the quarter (and 10.1% when the four oil and gas companies are excluded).

 

Rs 2.57 crore

What is it? The average assets of MLAs who are re-contesting Bihar’s Assembly elections in 2015, according to an analysis by the Association for Democratic Reforms.

Why is it important? This is a nearly threefold jump in five years. It was Rs 86.41 lakh in 2010. Bihar MLAs’ pay package was revised to Rs 1.65 lakh per month in March 2011 and once again 2014 according to reports. But, that doesn’t completely explain the 3 fold increase.
Tell me more: Among the 160 sitting MLAs, the biggest increase in assets is for JD(U) sitting MLA, Poonam Devi Yadav, who is re-contesting from the Khagaria constituency. Her assets increased to Rs 41 crore from Rs 1.8 crore between 2010 and 2015, an increase of over 2,000%. The assets of re-contesting Congress and JD(U) MLAs grew at the fastest rate while those from the Rashtriya Janata Dal had the highest average assets at Rs 3.8 crore in 2015.  

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News in Numbers – September 11, 2015

News In Numbers: September 11, 2015

 

Rs 3,300 crore

The amount the perpetrators of Satyam scam have to pay. The latest order by the market regulator in the seven-year-old Satyam scam directs the 10 entities linked to the main accused, B Ramalinga Raju, including his mother, brother and son, to disgorge or give up illegal gains made by them. This is worth Rs 1,800 crore plus an interest of Rs 1,500 crore on the disgorgement amount, which has been levied since January 2009 when Raju confessed to having inflated the accounts of Satyam Computer, the company he founded. In what is known as India’s biggest corporate fraud, a special court under the Central Bureau of Investigation held the founders of Satyam Computer guilty in the Rs 7,000-crore scam and Raju was sentenced to seven years in jail.

 

23,016

Sales of medium and heavy commercial vehicles, an indicator of economic growth, in August. This segment grew 35.29% from the same period a year ago. Plans by the Indian government to make safety features mandatory in commercial vehicles – which might push the price up by 3-5% – seems to have helped this growth. Overall, commercial vehicles registered an increase of 7.58% in August while passenger vehicles grew by only 3.99%. Car sales, which are a reflection of demand and economic growth, rose for the 10th consecutive month but slowed down to 6% on a year-on-year basis.

 

2.8

The multiple by which the net profit of Indigo Airlines jumped in 2014-15 from the previous financial year to post its biggest ever net profit. With revenues of Rs 13,925 crore and net profit of Rs 1,304 crore, Indigo is India’s largest domestic airline by market share (35.8% in July 2015). According to Indigo president Aditya Ghosh, the financial performance is mainly because of low fuel costs, passenger growth and better yields. In 2014-15, the Indian airline industry posted losses of Rs 7,000 crore, despite a 35% drop in jet fuel prices. In contrast, Indigo is the only consistently profitable airline in the country. The airline recently placed an order for 250 A320neo aircraft, Airbus’ largest order by number, at a cost of $26.6 billion (about Rs 1.55 lakh crore). Interglobe Aviation, the company which operates Indigo, is looking to raise more than Rs 2,500 crore in an initial public offering.

 

Rs 600 crore

The amount Tata Motors is looking to earn from supplying buses to the government under the second phase of the Jawaharlal Nehru National Urban Renewal Mission (JNNURM). Tata Motors earned Rs 100 crore . The company is providing 65% of the total number of buses being rolled out under this scheme. The JNNURM covers 10 projects including the bus rapid transit system, which ran into various problems in different states such as delayed implementation and supply of substandard buses. This July, the Indian government had written to the states saying that it has received information related to the procurement of only 2,228 buses whereas it had released Rs 884.21 crore for 7,509 buses. The centre warned the states that if they did not provide the updated information by August 24, 2015, then it would withdraw the funds already released with interest and cancel the sanctions.

 

3.3 million

The number of Indians who died prematurely in 2013, according to a study published in the British medical journal, The Lancet. The top five avoidable risks associated with health loss and disease burden outlined by the study were: high blood pressure, high blood sugar, household air pollution from solid fuels, unsafe water sources and smoking. Of these, the first three were estimated to cause 7.8%, 5.2% and 4.7% of the total health loss in India in 2013. Based on the death rates India recorded in 2010, the Lancet has estimated that the country would see 9.3 million premature deaths before 70 years of age, at 2030 – and, this would be more than any other country.

 

 

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News In Numbers – August 18

News In Numbers: August 18

 

211 vs 175

India’s largest airlines by market share, IndiGo, has placed an order to purchase 250 Airbus A320neo aircraft, in a deal worth $26.55 billion at list prices. This is the largest-ever order for Airbus in terms of number of planes. The IndiGo order will help Airbus open its lead over rival Boeing in the Indian market. Data from the aviation regulator shows Airbus had 211 aircraft in operation in India, against Boeing’s 175. Globally, though, with revenues of $233 billion in 2014, Boeing was bigger in size than Airbus ($175 billion), primarily because the former’s sales include bigger and more expensive airplanes.

 

Rs 7,957 crore

The extent to which power distribution companies in Delhi reportedly overstated accumulated losses over the years. The estimate has been arrived at by the auditor to the government in a forthcoming report. If true, the report is a major boost to the Aam Aadmi Party government in Delhi, which made high power charges in the national capital one of the main points in its electoral campaign. The report gives room to the AAP government to press for a reduction in power rates. According to the report, the three discoms, two from the Anil Ambani Group and one from the Tata Group, bought costly power, ‘suppressed’ revenue and gave undue favours to group firms.

 

$75 billion

The amount the United Arab Emirates (UAE) has committed to invest in India as part of an infrastructure fund created by the two countries. This fund seeks to invest and expand India’s network of railways, ports, roads, airports and industrial corridors. The two countries also plan to increase their trade by 60% in the next five years. India received $239 million as foreign direct investment (FDI) from the UAE in 2013-14, and $1.31 billion between 2009-10 and 2013-14. India received $34 billion as FDI in 2014.

 

2

The number of verticals that are reportedly being created by the Central Board of Excise and Customs (CBEC) to implement the proposed Goods and Services (GST) Bill. Besides these two verticals (one for performance management and the other for taxpayer services), there are various sub-groups working under the CBEC, and state officials are working on the law and procedures. The GST Bill, which is supposed to merge all central and state taxes into a single tax rate, was passed by the Lok Sabha but not by the Rajya Sabha, where the NDA is in a minority. A few media reports, quoting anonymous sources, say the government is considering a special session of Parliament in September to pass the GST Bill.

 

Rs 143 crore

The Supreme Court has asked the Central government to update it about the three-member committee it had asked to constitute to ensure the implementation of its order on government advertisements. This May, the court laid down certain guidelines for government advertisements to avoid misuse of public funds for glorifying the ruling party, and had suggested only the photographs of the President, Prime Minister and Chief Justice of India be used in government advertisements. An NGO had filed petitions in the Supreme Court in July to initiate contempt of court proceedings against the Delhi government (alleging it had earmarked Rs 526 crore for government ads in 2015-16) and the Tamil Nadu government for putting out ads that glorified their respective leaders. Previously, the Congress-led UPA government spent Rs 143 crore to place 84,733 advertisements in print publications between 2008-09 and 2012-13 related to the birth and death anniversaries of 15 leaders.

 

 

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