News in Numbers – September 14, 2015

News In Numbers: September 14, 2015

 

Rs 750 crore

The amount Westlife Enterprise, a master franchise of McDonald’s in India is planning to invest over the next five years to double the number of outlets it runs currently. It has 213 outlets across India and plans are on to add another 250. In the face of stiff competition from new entrants such as Burger King and Dunkin Donuts, McDonalds says it is betting on healthy alternatives, besides increasing the number of McCafes (serves coffee within their outlets) in India. The combined revenue of the two franchises of McDonald’s in India is Rs 1,390 crore. Globally, McDonald’s is struggling. The company posted a 2.3% drop in store sales worldwide in the January-March quarter of 2015 and is working on a turnaround plan.

 

7-10

The number of days it would take for income tax refunds to reach taxpayers. What used to take weeks or even months earlier is now being processed quickly due to electronic verification and Aadhar-based ITR (income tax return) verification. The last date for e-filing this year was September 7 and the Income Tax department received 2.06 crore returns on its e-filing portal, up 26.1% from those filed online last year. As on September 7, the department electronically verified 32.95 lakh e-retuns. The Income Tax department launched an ambitious drive to bring 1 crore new taxpayers within the current financial year with the Pune region being given the maximum target of 10 lakh new assesses.

 

Rs 44

The price at which the Indian government is considering to sell LED (light emitting diode) bulbs. At Rs 44 it costs about 85% lesser per unit than those sold in the market. Power minister Piyush Goyal in a recent industry interactive session, said the government is looking to bring down the prices of LED bulbs “under bulk purchases through competitive bidding”. Prime Minister Narendra Modi launched a scheme for LED bulb distribution under the domestic efficient lighting programme in Delhi recently where each consumer can buy LED bulbs at Rs 10 each and the balance of Rs 120 would be recovered from their electricity bills over the next 12 months. The estimated annual savings for Delhi households would be Rs 162 per LED bulb. Kickstarted in Delhi, this project of installing LED bulbs for domestic and street-lighting aims to cover 100 cities by March 2016.

 

Rs 15,986 crore

The microcredit disbursed by non banking financial companies-microfinance institutions (NBFCs-MFIs) in the April-June quarter of 2015. This marks an increase of about 70% from the amount disbursed in the last quarter of 2014-15. The average loan disbursed per account increased to Rs 17,848 from Rs 14,847 in the same periods of time as mentioned above.Tamil Nadu and West Bengal had a share of about 30.2% of the total number of people to whom microcredit was disbursed in the first quarter of 2015-16. In terms of the total credit given, these two states accounted for 29.2% in the same period. New loan disbursements grew 55% to Rs 54,591 crore in 2014-15 from the previous year. According to a report by Karvy Stock Broking, the microfinance industry has “returned to the growth phase” in terms of gross loan portfolio (all loans outstanding by all clients), emerging from the crisis it went through for a few years since 2010.

 

7.94%

The percentage of Delhi’s geographical area with tree cover, according to a 2013 report by the Forest Survey of India. However, the Economic Survey of Delhi 2014-15 puts this figure at 20.08%. An upcoming census of trees ordered by the Delhi government might set the records straight. The government has asked the Delhi Development Authority and all the civic agencies to conduct a first-of-its-kind tree census, which would include details such as age, species, health and location of trees falling under their jurisdiction. The census would aim to bring in awareness about tree conservation among Delhiites. The central government, quoting an international study, had said that 80 people die in Delhi every day from air pollution.

 

 

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News In Numbers – August 24

News In Numbers: August 24

 

58%

The percentage of water of the total live storage capacity currently held by the 91 main reservoirs in India. This is about 14% lower than the water stored by these reservoirs in the same period last year. Worse, this is also less than the last 10 years’ average storage of 98.7 billion cubic metres of water. Region-wise, only the northern (Himachal Pradesh, Punjab and Rajasthan) and the central (Uttar Pradesh, Uttarakhand, Madhya Pradesh and Chhattisgarh) regions have more water than the last 10 years’ average storage. According to a Central Water Commission member, the reservoir storage has been directly impacted by less rainfall across India. With the country showing signs of slipping into a drought year, the weather department said 58% of India received normal rainfall, 29% deficient and 13% excess.

 

Rs 80 crore

The amount the newest bank in India, Bandhan Bank, garnered in deposits by opening 60,000 new accounts on its first day. Bandhan, which is the first microfinance institution to morph into a bank, began operations with 1.43 crore accounts, a Rs 10,500-crore loan book and 19,500 employees. The bank will have nearly 70% of its branches in rural areas to focus on the unbanked or under-banked rural poor. Bandhan had borrowed about Rs 9,000 crore from various banks when it was a microfinance institution and has sought “relaxation” from the Reserve Bank of India to repay these loans as banks are not allowed to borrow from each other.

 

$10.84 billion

The value of Uber Technologies’ projected global bookings in 2015, against $2.91 billion last year. For 2016, the taxi-hailing service has estimated doubling its 2015 figure: $26.1 billion. Uber operates in 50 countries and takes 20% of the booking revenue. In India, it is aggressively trying to catch up with homegrown Ola Cabs and recently raised around $75-100 million from a Tata Group private equity fund. The company plans to invest around $1 billion in the next 6-9 months in India to achieve its target of 1 million rides a day, from the current 200,000. Ola, which raised $400 million this April as well as an undisclosed amount from Tata Sons Chairman Emeritus Ratan Tata last month, clocks 750,000 rides a day and hopes to hit the one-million mark this month.

 

5 million

The number of jobs lost between 2004-05 and 2009-10, at a time when India’s economy grew at about 8% annually, according to a study by industry body Assocham. It says that though the number of people seeking employment grew at an annual rate of 2.23% between 2001 and 2011, growth in actual employment in this period was only 1.4%. India’s unemployment rate (measured as the number of people actively looking for a job as a percentage of the total labour force) decreased to 4.9% in 2013 from 5.2% in the previous year. Average unemployment rate in India was 7.32% between 1983 and 2013, peaking at 9.4% in 2009.

 

13.4%

The percentage of India’s disinvestment target for 2015-16 the government will achieve if it mops up the targeted Rs 9,302 crore from a 10% stake sale in Indian Oil Corporation (IOC), scheduled for today. With the IOC stake sale, the government would have garnered Rs 12,600 crore, the best ‘first half’ in the last seven financial years. This year, so far, the government has raised around Rs 3,300 crore by selling minority stakes in Power Finance Corporation, Rural Electrical Corporation and Dredging Corporation of India. India’s disinvestments are crucial for achieving its fiscal deficit targets; its target for 2015-16 is 3.9% of GDP. Although it managed to meet its fiscal deficit target in 2014-15, it has missed its disinvestment targets the last five financial years.

 

 

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