mumbai-886734_1920

World’s 12th Richest City

 

69

What is it? The number of instances in the last 18 months in which IndiGo has replaced a faulty Pratt & Whitney engine on an Airbus A320neo operated by it.

Why is it important? On Saturday, after the European aviation regulator warned of a new issue with a particular type of Pratt & Whitney engines, IndiGo said it had grounded three affected planes. Further, Airbus had halted all deliveries of A320neos to IndiGo for now, it added. Fewer planes in operation and a slowdown in deliveries could pose challenges related to passenger management for India’s number one domestic airline.

Tell me more: Of the 157 aircraft in its fleet, 24 are Airbus A320neo, which is facing this particular engine issue, while 130 are A320-200 and 3 are ATR 72s.

 

3

What is it? The number of places gained by Punjab in a ranking of states for a Health Index crafted by Niti Aayog. As a result, it climbed from number 5 to number 2.

Why is it important? In these Health Index rankings for 2015-16, released on Friday, Punjab was one of the three states that gained several spots with reference to the base year. The other two were Jharkhand and Jammu & Kashmir, both of which gained 4 spots each, but much lower down in the rankings.

Tell me more: Releasing the Health Index report, NITI Aayog CEO Amitabh Kant said the government was next looking to come out with performance-based rankings of district hospitals by June 2018, the objective being to “encourage good performers, and name and shame those who don’t”.

 

$950 million

What is it? The total wealth of India’s financial capital Mumbai, according to a report by New World Wealth, a South Africa-based market research group. Total wealth here is defined as the private wealth held by all individuals in the city.

Why is it important? The report ranked Mumbai to be the 12th richest city globally. It was the only Indian city in the 15-city list, and was ranked above Frankfurt, Paris and Toronto. The list was topped by New York, with a wealth of $3 trillion, followed by London ($2.7 trillion) and Tokyo ($2.5 trillion). Mumbai also had 28 dollar billionaires, placing it among the top 10 cities in the world in billionaire population.

Tell me more: New World Wealth ranked India as the 6th richest nation a few days ago, with a total wealth of $8.2 trillion. But this income and wealth is lopsided in its distribution: according to the World and Income Database, the share of the top 1% in national income has increased from 6.1% in 1982 to 21.7% in 2013.

 

$5,947

What is it? The lowest value that Bitcoin registered last week. At one time, during a 24-hour period, the price of the leading cryptocurrency plummeted 28% to below $6,000, before recovering to above $8,000 levels by the end of the week.

Why is it important? The financial ecosystem is still figuring out cryptocurrencies and is increasingly veering towards control. On Sunday, International Monetary Fund chief Christine Lagarde said it was “inevitable” that cryptocurrencies would come under government regulation.

Tell me more: By one estimate, there are five million traders in crypto-currencies in India, which has said it does not recognise Bitcoin as legal tender.

 

4,309

What is it? The number of runs scored by Indian opening batsman Shikhar Dhawan after 100 one-day internationals, a milestone he completed on Saturday against South Africa.

Why is it important? Dhawan is the second-highest run-getter at the 100 ODI mark, after Hashim Amla of South Africa (4,808 runs). The 33-year-old has notched up 13 centuries and 25 half-centuries while averaging 46.33, proving to be a batsman to start strong at the international level and stay the course in the medium-term.

Tell me more: Virat Kohli, who is on course to rewrite many batting records in ODIs, was seventh on this list, with 4,107 runs. In Saturday’s match, Kohli passed Mohammad Azharuddin to climb to number five in ODI runs among Indians and number 18 overall.

 

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Indians’ debt quagmire

10.25 lakh

What is it? The number of farmers in Punjab who would benefit from the loan waiver announced by Chief Minister Amarinder Singh on Monday.

Why is it important? In the season of farm loan waivers, Punjab is the third state, after Uttar Pradesh and Maharashtra, to announce one. However, even if over 55% of Punjab’s farmers would benefit from the waiver for small and marginal farmers, the amount the state will have to write off is yet unclear.

Tell me more: Farmers tilling up to 5 acre of land will get waivers of up to Rs 2 lakh, while other marginal farmers will get a flat Rs 2 lakh waiver. Uttar Pradesh’s move has set off demands across states, often turning violent as in Madhya Pradesh for farm loan waivers.

 

1,000 Earth-days

What is it? The time India’s Mars Orbiter Mission (MOM) spent in its orbit.

Why is it important? MOM, launched in November, 2013, has remained active beyond its expected life span of six months (180 days). Lauded for its low-cost Rs 450-crore Mars spacecraft, Isro says extra fuel has led to its extended life span after it successfully entered the Mars orbit in September, 2014.

Tell me more: The spacecraft is studying the Martian surface and atmosphere and sending back images. Isro had saved Rs 2.61 crore of the budget and returned to the Union government.

 

75 million pound

What is it? The money Sahara Group advocate, Kapil Sibal, says will be brought to India towards refunding the Rs 24,000 crore to investors.

Why is it important? It amounts to around Rs 615 crore and Sibal has sought permission to transfer the amount to the Sebi-Sahara refund account. Sahara needs to pay this to Securities and Exchange Board of India (Sebi). Its promoter, Subrata Roy, was arrested on a court order for failing to refund the dues earlier. Sahara is scrambling to meet the court order of payment of Rs 2,000 by July. It paid Rs 790.18 crore on Monday.

Tell me more: The current amount is a result of Sahara selling its stake in Grosvenor House Hotel in London and refinancing funds related to The Plaza Hotel and Dream Downtown Hotel in New York.

 

Rs 200 crore

What is it? The amount raised by the Pune Municipal Corporation in its bond issue.

Why is it important? This is the biggest municipal bond issue in India. The Ahmedabad Municipal Corporation was the first to issue such bonds, worth Rs 100 crore, in 2002. With these funds, Pune aims to fund its Smart City plans.

Tell me more: The bonds were rated AA+, promising returns of 7.59%, higher than bonds of state governments.

 

Rs 29.8

What is it? The stock price of Bank of Maharashtra on Monday.

Why is it important? The stock fell 3.4% in a day after news broke of the Reserve Bank of India initiating Prompt Corrective Action (PCA) against it over the weekend. A high level of bad loans (non-performing assets or NPAs) and a negative return on assets led to the move. It is the sixth state-owned bank face PCA, following Indian Overseas Bank (2015), IDBI, UCO Bank, Dena Bank and Central Bank of India (all in 2017).

Tell me more: The lender had net NPA ratio of 11.76% and a negative return on assets at -1.09%, end of FY17.

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Punjab election results: Congress’ gains illustrated in maps

The Congress was a worthy second in 2012, winning 46 seats in the 117-member Punjab assembly. In the 2017 elections, at 12 pm, it was leading in 75 seats and was poised to return to power. Overall, the Congress did a reasonable job in not only regaining its 2012 seats, but managing to add some more. Here are three pockets in the electoral map of Punjab where it notched up significant gains over 2012.

Rural seats (30/41)

Of the 117 assembly constituencies in Punjab, there are 41 that had a rural population above 83%. The Congress was leading in 30 of these. This is more than twice the number of seats it bagged in 2012 from this set. The big loser was the Shiromani Akali Dal (SAD), whose count in these seats dropped from 25 in 2012 to 6 in 2017.

 

1

 

Poor amenities seats (27/38)

There are 38 assembly constituencies where fewer than 26% households receive drinking water in their homes. In these, the Congress was leading in 27, against 13 in 2012. Similarly, in the 37 constituencies where fewer than 74% of households had a toilet in their home, the Congress led in 26, against 10 in 2012.

 

2

 

High female-literacy seats (29/41)

Of the 41 assembly constituencies where the female literacy was above 76%, the Congress was leading in 29, against 16 in 2012. The big loser was the BJP-SAD combine, which saw its count plummet from 22 in 2012 to 7 in 2017.

 

3

 

Track Punjab Election Results 2017 here

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News in Numbers, June 10, 2016: Road accidents in 2015, drug abuse problem in Punjab is real…

Rs 200 crore

What is it? The amount Micromax Informatics is planning to invest in its Uttarakhand facility over the next year to make split and window air conditioners.

Why is it important? The handset-maker is looking to grow into a consumer durables company with an aim to generate about a fifth of its revenue from this segment in the next 12 months. Diversification into new businesses is likely to help Micromax boost its overall revenues as it lost its market leader position to Samsung in the smartphones segment last year.

Tell me more: The firm, which entered into the television business in 2014, earns 12% of its revenue from this segment.

945 – 2039

What is it? The estimated range of premature deaths due to outdoor air pollution per year per million people in India by 2060, according to a report.

Why is it important? The number was 508 in 2010. India is likely to continue to be among the worst affected countries even by 2060. Its impact on GDP is estimated to be 0.9% by that year.

Tell me more: The economic impact is calculated based on increased worker sick days and healthcare costs and, damage to crops. Globally, outdoor air pollution could cause 6-9 million premature deaths by 2060 with an economic cost of $2.6 trillion a year by 2060 or 1% of GDP, according to the Organisation for Economic Co-operation and Development.

 

11%

What is it? Percentage of passenger vehicles that were sold to government employees in 2015-16, up from approximately 10% in 2014-15.

Why is it important? Car makers are expecting this to go further up with the implementation of the Seventh Pay Commission in the current fiscal even as they faced slower growth in May with car sales declining by 0.86%. Along with government pay hikes  the monsoon cheer is likely to result in a consumption-led demand and more profits.

Tell me more: Government employees accounted for 16% of Maruti Suzuki’s domestic sales in 2015 and for Hyundai and Honda, the corresponding figures are 7.2% and 15% respectively,

 

501,423

What is it? The total number of road accidents in India in 2015, according to a report released by the government.

Why is it important? Youngsters in the age group of 15-34 years accounted for over half of the people killed in road accidents. The cause of the accidents is mostly cited as driver’s fault – over three-fourths of the road accidents were due to the driver’s fault and within this category, over 60% (each) of road accidents caused and people killed were due to over-speeding of drivers. Some activists have argued that citing drivers’ fault as the reason is the easiest way to close a case – because other possible causes such as faulty vehicle parts, bad roads or inadequate lighting/signs are difficult to establish. The latest death toll is yet another reminder that too little efforts are taken to solve the problem.

Tell me more: On an average, 17 people died every hour in road accidents in 2015. Road accidents killed 146,133 people last year (139,671 in 2014) and injured 500,279 (493,474 in 2014).

 

174

What is it? The minimum number of people charged under the Narcotic Drugs and Psychotropic Substance (NDPS) Act, who have died in Punjab prisons in 2014 and 2015, according to an analysis.

Why is it important? Highlights the seriousness of the drug abuse problem in the state, which has been at the top consistently or ranked among the top five in many of the metrics used to measure this abuse. There are 836 drug users per 100,000 population in Punjab (as per a 2015 survey) compared to the All-India figure of 250 per 100,000 (2012). The average rate of crime under the NDPS Act has been the highest in the state between 2005 and 2014.

Tell me more: The drug abuse problem in Punjab became a point of debate after the Censor Board decided to cut off all drugs-related references to Punjab in a Hindi film titled ‘Udta Punjab’. It quickly turned into a political issue after Congress and Aam Aadmi Party accused the BJP of influencing the Censor Board to prevent showing Punjab’s drug abuse problem (the party has denied it). The state, which is ruled by the Akali Dal-BJP combine, goes for state elections next year.

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