News in Numbers, June 17, 2016: Tax on sugar exports, Amazon decreases commission rates…

20%

What is it? The tax imposed by the Indian government on sugar exports.

Why is it important? This move, which comes after sugar prices increased from Rs 30 per kg to Rs 40 a kg in six months, is expected to boost domestic supplies. Due to drought in major sugar-growing areas, India’s sugar production is estimated to decline to 25 million tonnes in 2015-16 from 28.3 million tonnes in 2014-15.

Tell me more: Of the 366 sugar mills in the country, only about 60% were operating as on March 31.

 

34.05%

What is it? Percentage of women in rural areas who were open to living with their daughters in old age, according to a 2011-12 survey.

Why is it important? This was just 24.6% as per the 2004-05 survey, reflecting the changing norm of relying only on their sons in old age. People living in the urban areas also show a similar trend: it’s now 38.94% from 28.9% in 2004-05.

Tell me more: In terms of receiving financial support from daughters in old age, the trend is similar: 41.45% of women in rural areas (versus 30.48% per 2004-05 survey) and 44.75% of women in urban areas (versus 32.87% per 2004-05 survey) were okay with the idea, as per the 2011-12 survey.

 

$24 million

What is it? The amount New-York based company Andela has raised, led by the Chan Zuckerberg initiative (CZI).

Why is it important? This is CZI’s first private-sector investment and it is leading a financing round for the first time since Facebook chief executive Mark Zuckerberg and his wife Priscilla Chan launched their charitable foundation last December. The initiative drew criticism as it was incorporated as a limited liability company, which is not governed by the rules for a non-profit organisation.

Tell me more: Andela trains software coders in Kenya and Nigeria to help them get jobs at large technology firms. Others who participated in the funding include: GV (formerly, Google Ventures), Spark Capital, Omidyar Network, Learn Capital and CRE Ventures.

 

3.5%

What is it? The new commission rate sellers of mobile devices and tablets will pay Amazon India effective today, down from about 5.5% earlier.

Why is it important? The move could help sellers to offer products at a lower cost by bypassing foreign direct investment rules that do not allow online marketplaces to influence product prices. This is in contrast to its rival Flipkart which recently decided to increase seller commissions by 5-6% from June 20, even as it struggles to raise funds.  

Tell me more: Amazon India has reduced the commission rates for sellers on certain categories including desktops, laptops, electronic devices, movies and educational software. This comes after Amazon reportedly increased its commission rates up to 9% on various categories a couple of months ago.

 

17,540

What is it? The number of Pakistani citizens whose visas were rejected by the Indian government between January 1 to May 31 this year.

Why is it important? This is around 50% of those who applied for visa to visit India, which is significantly higher than the rejection rate of 22.2% in 2015 and 17% in 2014. This is reportedly due to increased security concerns after the attack on the Pathankot Air Force base by Pakistani terrorists in January this year.

Tell me more: The Indian High Commissioner to Pakistan has written a letter to the Union Home Secretary asking for the reasons behind the high rejection rates.

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News in numbers, Jan 4, 2016: Pathankot terror attack, revenue from excise duty hikes…

 

Rs 10,000 crore

What is it? Additional revenue Indian government expects to earn in 2015-16 from hikes in excise duty on petrol and diesel.

 

Why is it important? It will partially help in covering for the shortfall in revenue from disinvestments in public sector units (PSUs) and direct tax collections. The government had aimed to raise Rs 69,500 crore from selling shares in PSUs but managed to mop up just over 18% or Rs 12,700 crore so far. Between April and November 2015, the direct tax collections was less than half (46.26%) of the budgeted target of Rs 7.97 lakh crore in 2015-16.

 

Tell me more: The government on Saturday increased excise duty on petrol by Rs 0.37 per litre and by Rs 2 per litre on diesel. This is the third hike in 2015-16 and since November 2014, the seventh. The three excise duty hikes translate to a total increase of Rs 2.27 per litre on petrol and Rs 3.47 a litre on diesel.

 

2-1

 

What is it? India’s score in the 11th edition of the South Asian Football Federation (SAFF) Championship. India beat defending champion Afghanistan on Sunday.

 

Why is it important? With this win, India has lifted the SAFF cup for the seventh time. This is also likely to have an impact on India’s position in the Fédération Internationale de Football Association (FIFA) rankings to be released on January 7. From 121 in 2001, India’s ranking has slid to 166 currently, reaching a low of 171 in 2014 since the start of the new millennium.

 

Tell me more: India had lost to Afghanistan 0-2 in the final match of the 2013 edition.

 

$522 billion

 

What is it? Estimated global oil and gas investments in 2016, according to Oslo-based consultancy Rystad Energy.

 

Why is it important? If this happens, it would be the lowest in six years. In 2015, global investments in this sector had seen a 22% fall to $595 billion. This would also be the first time that there may be a decline in investments for two straight years since the 1986 oil crash, according to Bjoernar Tonhaugen, vice president of oil and gas markets at Rystad Energy . One of the major fallouts of this is the loss of jobs. In November last year, the number of job losses in oil and gas companies had crossed the 250,000 mark worldwide, according to industry consultant, Graves & Co.

 

Tell me more: Crude oil prices fell 35% in 2015 and are expected to decline even further in 2016. A combination of factors — global glut, suppliers refusing to cut down on production and engaging in price war to attract customers — are responsible for the rapid decline in oil prices.

 

7

 

What is it? Number of military personnel killed in a terrorist attack on Pathankot air base situated in Punjab, about 30 km from the Pakistan border. As many as 20 have been wounded.

 

Why is it important? Raises questions about security lapses and how the terrorists managed to enter the air base undetected. This is the second attack on Punjab after the Gurdaspur district attack in July 2015 that killed 10 people including the Gurdaspur Superintendent of Police. In the latest terror attack, militants disguised as soldiers, stormed the base a week after Prime Minister Narendra Modi paid an impromptu visit to his Pakistan counterpart Nawaz Sharif. Four terrorists have been reportedly killed and two more are said to be holed up at the base.

 

Tell me more: The government claimed the operation successful on Saturday but fresh attacks on Sunday, it said the operation was not over yet.

 

160 million

 

What is it? Number of one rupee notes issued in 2014-15 and 2015-16 so far by the government.

 

Why is it important? The cost of printing a one rupee note at Rs 1.14, exceeds its value – and the life of a paper note is 9 to 10 months. It’s a reason why currencies of lower denominations tend to be in coins. The government had stopped issuing one rupee notes between 1995-96 and 2013-14.

 

Tell me more: In 2014-15, a total of five million notes of one rupee denomination and in the current fiscal year, 155 million notes were introduced in the market.

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