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.
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.
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.
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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