News in Numbers – September 8, 2015

News In Numbers: September 8, 2015

 

Rs 9,625 crore

The investments in equity mutual funds in August, a 63% increase from July and the 16th consecutive month of inflows, according to the Association of Mutual Funds in India. This is despite Indian share markets having their worst August in four years. Also, Indian equity markets have seen the third-largest outflows in Asia since China devalued its currency last month, with foreign institutional investors pulling out pulling out $3.3 billion. Household ownership in equities , both direct and indirect, has halved in the past 15 years. Just about 2% of Indian households’ total financial assets are invested in stocks, against 35% in the US. A research report by Morgan Stanley estimates that Indian households are likely to invest $300 billion in equities over the next 10 years.

 

Rs 16,000 crore

The likely cost of implementation of the one rank, one pension programme (OROP) for ex-servicemen in 2015-16, according to an HSBC report, which adds this would “have a significant impact on the fiscal bill”. Japanese brokerage Nomura’s estimates of Rs 10,000 crore for 2015-16 are closer to the government’s calculation (Rs 8,000-10,000 crore). Both HSBC and Nomura say OROP would add to the fiscal burden, though the latter does not expect it to derail the 2015-16 fiscal deficit target of 3.9% of GDP. HSBC says the key determinant will be tax revenue growth. The government maintains it has the “fiscal space” to absorb the OROP expenses without affecting its fiscal deficit target.

 

$1 billion

The estimated valuation of Zomato Media in April 2015, which yesterday said it had raised $60 million in fresh capital. The restaurant search and review website is planning to deploy half of the funds raised to grow its India business, with the rest for services business in other countries, besides venturing into two new undisclosed markets. The Indian food services industry is expected to reach $78 billion by 2018, while the overall food ordering business was estimated to be around Rs 5,000-6,000 crore in 2014, according to India Brand Equity Foundation. Several food start-ups in India have entered the online ordering space in the last few years, including FoodPanda, JustEat, Tiny Owl and Swiggy.

 

150

British scientists have discovered a blood test that determines the “biological age” of a person, rather than the one calculated using the date of birth, to predict the rate of ageing in a person. This test, discovered by a team from King’s College London, compares the behaviour of 150 different genes. Instead of looking at genes associated with diseases or extreme longevity, the researchers found out that the ‘activation’ of 150 genes in blood, brain and muscle tissue signalled good health at 65 years of age. For instance, one might be 50 years old but have a body of a 30-year-old due to a good lifestyle. This research also found that people with lower “healthy age gene scores” had been diagnosed with Alzheimer’s disease.

 


Rs 1.7 lakh

The price per sq ft of the built-up area of the property that Aditya Birla Group chairman Kumar Mangalam Birla is close to purchasing in Malabar Hill in Mumbai. At a reported price of Rs 425 crore, this will be one of the most expensive residential property deals in the city. Yet, the price per sq ft of the built-up area for this property is slightly lower than the bungalow (Rs 1.9 lakh) purchased by the managing director of an apparel manufacturing company in Central Delhi for Rs 173 crore. On a total area basis, though, the Mumbai house is priced at Rs 1.3 lakh per sq ft, against the Delhi house of Rs 60,637. The iconic Mumbai property, Jatia House, is currently owned by Chem Mach, a company promoted by industrialist Yashvardhan Jatia.

 

 

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News in Numbers – September 1, 2015

News In Numbers: September 1, 2015

 

7%

The rate at which Indian economy grew in the first quarter of 2015-16, slower than the 7.5% in the previous quarter. Agriculture and manufacturing grew at a slower pace, while construction and trade, hotel, transport, communication and services related to broadcasting grew faster. Ratings agency Moody’s recently downgraded India’s GDP (gross domestic product) growth to 7%, from 7.5%, for 2015-16, Japanese brokerage Nomura has pegged the GDP growth rate at 8%. The Indian government has set a target of 8.1-8.5% for 2015-16, while the Reserve Bank of India (RBI) has estimated it at 7.6%.

2

Number of banks the RBI has classified under the ‘Domestic Systemically Important Banks’ category, which means these are too big to fail: State Bank of India, India’s largest state-owned bank, and ICICI Bank, the largest in the private sector. This is the first time the central bank has made such a classification, which will be an annual exercise. SBI and ICICI will have to maintain additional capital as a certain percentage of loans, though both banks say their capital base is higher than mandated. The RBI framework for such a classification will have five buckets. The higher the number, the more systemically important a bank. SBI falls in bucket three, ICICI in bucket one.

$5.6 billion

A theoretical maximum penalty India’s competition regulator can levy on Internet giant Google, based on a calculation of 10% of its average global revenues for the past three years. The Competition Commission of India has accused Google of misusing its dominant position and unfairly promoting its other services through its search engine. In response to queries raised by CCI, 30 companies, including Makemytrip, Flipkart, Nokia’s maps division and Bharat Matrimony, have submitted their views. Google has time until 10 September to respond to CCI’s findings. Google’s search engine had a market share of 97.3% in India in July.

78

The number of days since ex-servicemen have been agitating at Jantar Mantar in Delhi demanding the implementation of one rank, one pension (OROP) in addition to annual revision of pension. Finance minister Arun Jaitley has ruled out annual revision, saying it does not happen anywhere in the world. He, however, said the government would “safeguard the interests” of soldiers who retire early by paying them higher pensions. Three more Army veterans have joined the fast-unto-death at Jantar Mantar, taking the total number of those on hunger strike to 12. About 22 lakh retired servicemen and over six lakh war widows would be the immediate beneficiaries of this scheme, if implemented.

831

The number of dengue cases reported in Delhi this year, of which 93.6% were in August alone. The overall number is the highest in five years: thrice what was recorded during 1 January to 29 August between 2011 and 2014. In the same period in 2010, the number of cases was over 1,000. This year, India recorded 9,874 dengue cases until 29 July, of which Karnataka, Kerala and Tamil Nadu accounted for 62.7%. The number of dengue deaths in India stood at 25 in the same period, with Kerala accounting for 60% of the deaths.

 

 

 

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News In Numbers – August 17

News In Numbers: August 14

 

 

Rs 118 crore

The margin by which Reliance Industries was pipped to the post by state-run Indian Oil Corporation for the tag of the most profitable company in the country. This is the second time the Mukesh Ambani-led firm has lost this tag in recent times: in the December quarter of FY15, IT major TCS beat RIL in profitability by Rs 77 crore, ending RIL’s reign of 23 years as the most profitable company in India. The company recorded a 23% decline in turnover in the June quarter of 2015-16 compared to the same period a year ago, mainly due to a fall in crude oil prices. However, its gross refining margin, or the profit it makes from each barrel of oil refined, was at a six-year high during this quarter. The equivalent figure for IOC was slightly higher in the same quarter.

 

40%

The increase in the amount budgeted by the Central government towards payment of military pensions if the ‘one rank one pension’ norm was implemented today. Currently, retired military personnel get half the salary they last received, as pension. Due to successive pay revisions in the armed forces, this led to military personnel of the same rank, who retired in later years, getting much higher pensions than those who retired earlier. The ‘OROP’ demand is that these pensions should be equal for the same rank, irrespective of the date of retirement. Currently, the government budgets roughly Rs 54,500 crore for defence pensions; the implementation of OROP would lead to a rise in pensions cost of Rs 18,000-20,000 crore annually.

 

17

The number of banks in India whose gross non-performing assets (NPAs), or bad loans, are more than 5% of their gross advances. Of these, 15 are public sector banks. Higher NPAs have dragged down the profits of banks: nearly half of the 39 listed banks have reported a decline in profits in the June-ended quarter of FY16. United Bank of India, Indian Overseas Bank and Dhanlaxmi Bank are the banks with the highest NPAs. The gross NPAs for public sector banks rose to 4.45% at the end of March 2015, from 4.1% in March 2014. RBI Deputy Governor SS Mundra recently said that banks must develop better strategies to deal with bad loans, and that hiding or postponing the problem was not the solution.

 

17%

The average rainfall in India was 17% below normal in the first half of August, which could lead to a second successive drought year. The most stressed regions, which are displaying signs of possible droughts, are Marathwada, with a rain deficit of 48% between June 1 and August 16, Karnataka (45%) and Rayalaseema (38%). In Marathwada in Maharashtra, about 200 farmers had committed suicide between January 1 and May 10. In Karnataka, 182 farmers ended their lives in July alone.

 

Rs 9,000

The minimum salary a highly-skilled, full-time domestic worker could be paid, if the draft of ‘National Policy for Domestic Workers’ is approved by the Union Cabinet. This policy recommends 15 days compulsory paid leave in a year, as well as maternity leave benefits. It also includes mandatory contribution from the employer towards social security of domestic workers. The policy has provisions against sexual harassment and bonded labour too. There were 3,564 cases of alleged violence against domestic workers reported in 2012.

 

 

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