News in Numbers: 36 killed in Istanbul terrorist attack, 37% of India received scanty rainfall…

8.5%

What is it? The likely percentage of bad loans in Indian banks by March 2017 from 7.6% in March 2016, according to a Reserve Bank of India report.

Why is it important? Indicates that the problem will get worse before it gets better. RBI says bad loans – or non performing assets – will shoot up to 9.3% under a severe stress situation. As a result, banks will have to raise more capital, and if they cannot, their lending will go down. Credit has already slowed down in April and May.

Tell me more: However, the central bank has noted that the severe adverse economic conditions referred to in the report should not be considered as forecast or expected outcomes.

 

3,038

What is it? The number of requests India has sent to other countries seeking information about suspicious banking transactions of Indians abroad in 2014-15 and 2015-16.

Why is it important? The number of such requests have gone up substantially from the previous years: 700 in 2013-14, 600 in 2012-13 and ranging between 39 and 92 between 2008-09 and 2010-11. Many of these requests are related to investigations of various scams including the HSBC Geneva case though these also include individuals and entities suspected for hoarding money abroad.

Tell me more: The Indian government has given time till September 30 for people holding unaccounted wealth to come clean and pay their taxes. India has signed an information-exchange agreement with the US and 110 tax jurisdictions have agreed to share information under this pact. As part of another agreement, 58 jurisdictions including India have agreed to share information from 2017 and another 36 countries would join in by 2018.

 

36

What is it? The number of people killed in a terrorist attack at Istanbul Ataturk Airport on Tuesday. At least 147 people have been wounded.

Why is it important? The Turkish Prime Minister says ISIS is behind the attack in the 11th busiest airport in terms of passenger traffic. ISIS, which was responsible for nearly a fifth of people killed in terrorist attacks in 2014, is the second most dangerous terrorist organization after Boko Haram (in terms of number of people killed), according to a report. Shows the growing influence of ISIS and their ability to breach security protocols.

Tell me more: Three suicide bombers attacked passengers with bombs and guns and according to preliminary findings, they blew themselves up after opening fire.

 

11.2%

What is it? The penalty developers may have to pay buyers in case of delay in handing over homes and apartments, according to the government’s recently announced draft real estate rules.

Why is it important? This is around 1.25-1.85% higher than the home loan rates, providing protection to home buyers. The average middle class home buyers usually avoid lengthy court cases when their homes are handed over to them late, sometimes bearing their monthly rental costs of their current residence in addition to paying EMIs of their new properties.

Tell me more: The Real Estate Regulatory Authority would be set up in states and union territories within three months of the rules being notified. The draft rules are open for public comments and suggestions until July 8.

 

34%

What is it? The percentage of India that received scanty or deficient rainfall in June as of Tuesday.

Why is it important? Though over half of the country has received normal rainfall this month, some of the drought-hit regions including Vidarbha face a rainfall deficit. The pulse-growing regions have received uneven rains, which could have an upward effect on prices of pulses, which have already been ruling high in the recent weeks. The sowing of kharif has been lower by 23% so far, according to data released last week while water levels at India’s 91 major reservoirs have fallen to 15% of their combined installed capacity.

Tell me more: The southern and north-western states have received rainfall 16% and 2% above average, respectively, while in central India and east and north-east India, there has been a deficit of 23% and 26%, respectively.

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News in numbers, Nov 17, 2015: Indian students’ contribution to US economy, prices of pulses…

5

What is it? The number of times, in nine auction rounds, the bids per oil and gas block on offer by India has averaged below 2, according to research by The Oxford Institute for Energy Studies. The same research cited the US average between 1954 and 1999 to be between 2.66 and 3.96.

Why is it important? The interest of global players in Indian oil and gas exploration has ranged from tepid to poor. One reason has been the policy construct that revolved around cost-recovery, as opposed to revenue-sharing. A draft paper released by the petroleum ministry on Monday recommended a move to revenue-sharing, as well as output pricing freedom.

Tell me more: In the last round of auctions, held in 2010, the government received 74 bids for 34 blocks, with 8 foreign and 29 Indian companies either bidding by themselves or in partnership.

 

 

 

Rs 5,500 cr

What is it? The reported drop in valuations of unlisted ICICI Prudential Life Insurance in the past 12 months or so. On Monday, its parent ICICI Bank announced the sale of 6% of its shareholding in the life insurer to Premji Invest and Temasek in a deal that valued the entire company at Rs 32,500 crore. Back in December 2014, the same was reportedly valued at Rs 38,000 crore.

Why is it important? It is a measure of the business environment for life insurance companies in India becoming tougher. After three consecutive years of decline in premiums collected, ICICI Prudential registered a 23% increase in premiums collected in 2014-15.

Tell me more: ICICI Prudential is India’s second-largest insurer and the largest among private players.

 

$ 3.6 billion

What is it? The estimated contribution to the economy of the US in academic year 2014-15 by students from India pursuing some form of higher education there, according to the US Department of Commerce.

Why is it important? India is the second largest source of foreign students in the US, after China. In 2014-15, 132,888 students from India were studying in the US, an increase of 29.4% over the previous year, which follows three years of decline, shows data released on Monday.

Tell me more: The 2014-15 breakup of Indian students in the US is: 12.4% undergraduate, 64% graduate, 1.4% other and 22.1% optional practical training.

 

Rs 15

What is it? The price of a 70 gm packet of Baba Ramdev’s Patanjali atta noodles, launched on Monday, undercutting the erstwhile market leader by about 30%.

Why is it important? Ramdev’s latest FMCG product launch comes on the same day the Indian food regulator moved the Supreme Court against the dismissal of its order by a lower court to ban Nestle’s popular Maggi instant noodles for allegedly containing lead beyond permissible limits. It also comes just a week after Nestle reintroduced Maggi noodles after a five-month ban; its atta variant was selling online at Rs 20 per 80 gm packet.

Tell me more: Besides its existing facility in Haridwar in Uttarakhand, Patanjali Ayurved plans to set up six more manufacturing plants to make these noodles, which carry the tag line ‘jhatpat banao’ (make it quickly).

 

53%

What is it? The increase in wholesale prices of pulses in October over the corresponding month of 2014, the second-highest among all commodities, after onion.

Why is it important? Unlike onion, which is cooling off, prices of pulses are showing no sign of abating. In the months from May to October, the year-on-year increase in prices of pulses has ranged from 23% to 53%, due to declining production and higher global prices. According to a recent Crisil research report, pulses are the second-most important part of an Indian food palette, after cereals, with an average Indian household spending 5% of their monthly budget on it.

Tell me more: Pulses apart, prices at the wholesale level fell in October on a year-on-year basis by 3.8%, for the 12th straight month.

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News in numbers, Nov 4, 2015: Decline in prices of pulses, most top firms miss sales estimates…

Rs 20

What is it? Average decline in prices of pulses across India in the last few days, according to the central government representatives.

Why is it important? Rising price of dal has been a hot topic for weeks now. Last month, the prices of pulses (key ingredients in Indian cooking) went up to as much as Rs 187 per kg. Retail prices of toor dal and urad dal almost doubled in October from a year-ago period. The requirement of pulses in India is 22 million tonnes whereas the production was only up to 17 million tonne. Hoarding by some traders also impacted the rates upwards.

Tell me more: Finance Minister Arun Jaitley said with the ongoing market arrivals of urad dal and arrival of the new crop of toor dal in early December, the prices are expected to go down further. The hoarded stock would soon be released into the retail market easing the supply situation further.

 

200

What is it? Types of affidavits abolished by the Delhi government on Tuesday. This refers to affidavits required for documents such as marriage certificates, income certificates, ration cards.

Why is it important? It simplifies government-citizen interactions, is lighter on people’s purse, and can potentially bring down corruption. All these documents now require just self-attestation, which means one need not look for MLAs and gazetted officers for affidavits. It remains to be seen how the government would deal with those who provide wrong information in their application forms.

Tell me more: Now, there would be only 40 types of affidavits required, half of which come under the purview of the central government.

 

67%

What is it? Share of top Indian companies (of 161 analysed) that missed sales forecast in the July-September quarter.

Why is it important? This shows that India still has some distance to cover in terms of economic recovery. Of the 161 companies studied, 108 companies missed the estimates for sales. Two consecutive years of poor monsoon and winter rains damaging crops have stifled rural consumer demand, affecting sales of companies.

Tell me more: The earnings of all 13 companies in the consumer packaged industry did not meet consensus expectations.

 

6%

What is it? Percentage of amount spent from budget allocated to the Ministry of Housing and Poverty Alleviation during April-September 2015.

Why is it important? Among all the ministries, this ministry, headed by Venkaiah Naidu, has spent the least in percentage terms. The Narendra Modi government has been trying to increase public expenditure in infrastructure projects to spur growth.

Tell me more: The ministry of civil aviation and ministry of drinking water and sanitation are the top two spenders while among the bottom spenders, ministry of labour and ministry of tourism follow Naidu’s ministry.  

 

2,627

What is it? Number of people holding directorship in more than 20 companies, according to data by the Ministry of Corporate Affairs.

Why is it important? It’s an indicator of the prevalence of shell companies. The Special Investigation Team (SIT) on black money has observed that in many of the shell companies, the directors or shareholders are people of limited financial means such as drivers, cooks and other employees of people who intend to launder money. Holding directorship in more than 20 companies is against the provisions of Companies Act, 2013 as well as the erstwhile Companies Act, 1956.

Tell me more: As many as 345 addresses are shared by at least 20 companies. The SIT has asked the law enforcement and intelligence agencies to proactively detect shell companies.

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