News in Numbers, August 9, 2016: Impact of diesel ban on Toyota, single-teacher schools…

Rs 1,700 crore

What is it? The total business Toyota Kirloskar Motors claims it has lost due to the ban on diesel vehicles in the Delhi-NCR region since last December.

Why is it important? The company says it has lost business of around 8,500 units of Innova and the Fortuner and that the ban has halted the company’s future investments in the country. The Supreme Court had banned the registration of 2,000 cc and above diesel vehicles in Delhi on December 2016 as a measure to curb the high pollution levels in the city. This comes at a time when the government is aggressively trying to promote its ‘Make in India’ campaign, which is aimed at attracting foreign companies to help convert the country into a global design and manufacturing hub.

Tell me more: Mercedes-Benz, another auto firm hit by this ban, has moved the Supreme Court and has asked for it to be lifted. It has said it is ready to pay 1% environmental cess on the sale of diesel cars.

 

6.5%

What is it? The stake the promoters of Max Financial would get in the merged entity approved by the boards of HDFC Life Insurance Company and Max Life Insurance Company in addition to a Rs 850 crore non-compete fee, subject to approval of public shareholders.

Why is it important? With this deal, the merged entity would have Rs 1.1 lakh crore in assets and overtake ICICI Prudential Life Insurance Company and become India’s largest private life insurer and the second biggest life insurer after Life Insurance Corporation of India. After the merger, the entity would have a 10.8% market share. This could also signal the beginning of consolidation in the insurance sector.

Tell me more: The merger involves a three-step process: Max Life would be merged with its parent Max Financial Services, after which the insurance unit would be demerged from this entity to be combined with HDFC Life and the non-insurance businesses of Max Financial would be merged with group company Max India.

 

Rs 5,000 crore

What is it? The additional amount India’s flagship rural employment guarantee scheme would get in 2016-17, taking the total to Rs 43,500 crore.

Why is it important? This is likely to aid many in the rural areas affected by two consecutive years of drought in 2014-15 and 2015-16. Ten states had declared drought last year. However, since the current year is expected to be an above-normal monsoon one, there are concerns about inflationary pressures due to an increase in the budget. The increased budget overlay reportedly lays to rest doubts about whether the scheme would be continued or not.

Tell me more: Under the scheme, jobs to 48.2 million families were provided in 2015-16.

 

105,630

What is it? The number of government elementary and secondary schools in India which are run by a single teacher, according to a report tabled in the Parliament on Monday.

Why is it important? Indicates the extent of paucity of teachers in the country, especially in state-run schools and partially explains the clamour for private ones, despite the huge difference in fees. According to the Right to Education rules, the recommended student-teacher ratio is 30:1 for primary classes and 35:1 for upper primary classes.

Tell me more: Madhya Pradesh has the highest number of single-teacher schools followed by Uttar Pradesh and together, these two states account for a third of such schools. The next three worst states in this regard – Rajasthan, Andhra Pradesh and Jharkhand – account for nearly 29% of single-teacher schools.

 

$52.7 billion

What is it? India’s trade deficit with China in 2015-16.

Why is it important? The deficit might widen further if India cuts its tariff on Chinese imports in line with tariff reductions for other members in Regional Comprehensive Economic Partnership (RCEP). So far, India has been favouring a three-tier system for tariff reductions – offering more cuts to some countries, and less to others including China. Now, it has changed its approach. This is likely to benefit China more with whom India does not have a free trade agreement (FTA). It remains to be seen what India is offered in return for agreeing to such a deal.

Tell me more: The RCEP is a proposed FTA between the 10 members of the Southeast Asian Nations or ASEAN and the six countries with which the ASEAN has existing FTAs.

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News in Numbers – May 27, 2016

Rs 1211.65 crore

What is it? The net profit of Jet Airways in FY 2016 .

Why is it important? The carrier, which controls a little less than a fifth of market, is making a profit after eight years. While the profits came mainly as a result of lower fuel prices, the company was also working on a restructuring plan that aimed for profitability by FY 2017.

Tell me more: In the quarter ended March, the airline made a net profit of Rs 426 crore against a net loss of Rs 1,803 crore a year before. Sales was up 6% to Rs 20,572.22 crore.

65

What is it? The new retirement age of doctors serving in government hospitals (from 62 in some states and 60 in others at present).

Why is it important? This is expected to address the shortage of doctors in the country. India has acute shortage of doctors, just seven for 10,000 people, against the global average of 14. In rural areas, the problem is even worse. More than 8% of 25,300 primary health centres had no doctors.

Tell me more: Prime minister Narendra Modi made this announcement at a rally that was held to mark his two years in the office. It will be approved by cabinet this week.

6600 km

What is it? The length of the transatlantic cable that will connect United States with Southern Europe

Why is it important? Capable of carrying 160 terabits of data per second, it will address the growing demand for demand for high-speed cloud and online services. More importantly, it is to be built by Facebook and Microsoft, underlining the infrastructural investments they need to make to keep their services business growing. It is expected to be complete by October next year.

Tell me more: Google is building a 9000 km undersea cable connecting US and Japan.

 

500

What is it? The number of tinkering labs the government will establish in schools over the next five years.

Why is it important? This is to help students understand science concepts.  Nearly three-fourths of higher secondary schools (class 11 and 12) don’t have separate science labs. The tinkering labs will help bridge this gap in a small way, as there are 109,318 higher secondary schools in India in 2014-15.

Tell me more: Each school will receive a grant of Rs 10 lakh to set-up these tinkering labs, and another Rs 10 lakh spread over five years to meet operational expenses.

Rs 556,715

What is it? Median salary of a TCS employee in 2015-16.

Why is it important? Only a tenth (or around 1.1 million) of India’s salaried tax payers earn more than that amount. Shows the importance of software industry, which employs over 3.5 million people. Median salary at Infosys is Rs 524,064

Tell me more: TCS CEO earned Rs 25.6 crore, around 459 times more than the median salary. In comparison, Vishal Sikka, CEO of Infosys, earned Rs 49 crore or 935 times the median salary.

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