News In Numbers: September 29
What it is: The extent to which the Indian government is willing to cut its stake in public sector banks
Why is it important: Bringing down government stake in public sector banks will help in two ways. One, it will help government mobilise money from disinvestment so that budget deficit is contained. Two, it indicates the government’s intention of not willing to give up control over state-run banks.
Tell me more: Axis Bank was once controlled by government. After the government became a minority shareholder, the bank has grown to be one of India’s largest private sector players with Rs 120,506.72 crore market capitalization.
Rs 24,000 crore
What it is: Loans disbursed under Pradhan Mantri Mudra Yojana
Why is it important: This scheme recently launched by the Indian government disburses loans to small entrepreneurs who find it difficult to raise capital for their businesses. The share of micro, small and medium enterprises (MSME) in Indian GDP (gross domestic product) was 37.54% in 2012-13. It employs nearly 80-100 million people.
Tell me more: The government wants to disburse loans totaling to Rs 1,22,000 crore to at least 2 crore people and 60% of Mudra loans would be given under the ‘Shishu’ category (credit up to Rs 50,000).
What it is: South India’s share of top 20 CBSE schools by Class XII score.
Why is it important: Shows that schools with excellent performance are not equally distributed across the country.
Tell me more: Of the top 20, seven are from Tamil Nadu, five from Karnataka, two from Kerala and one each from Jharkhand, Gujarat, Haryana, Chandigarh, Delhi and Andhra Pradesh. Interestingly, the share of south indian states in number of schools is 19% compared to Delhi’s 12.7%, which has the highest share among all states.
What it is: Size of defence deal signed between India and the US
Why is it important: This strengthens US’ position as India’s second largest arms supplier at a time when India is looking to become a global defence exporter. India is the largest (or the second largest) arms importer in the world.
Tell me more: In this deal, the Indian Air Force will buy 22 AH-64E Apache attack helicopters and and 15 CH-47F Chinook multi-mission heavy lift helicopters.
Rs 44,000 crore
What it is: Bailout amount from British Virgin Islands-based Helvetica Group for Sahara Group
Why is it important: Shows Subrata Roy is making some progress in settling with the courts. But, one has to wait and watch.
Tell me more: The group has failed to comply with a court order to refund Rs 20,000 crore it raised from investors by selling bonds, which were later ruled to be illegal. Subrata Roy, founder of the group, and two directors have been in jail for nearly 18 months and their bail amount has been set at Rs 10,000 crore, half in cash and the rest as a bank guarantee.
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