If you are Flipkart, you will do that by buying Jabong for $70 million – and have 50% market share. Flipkart-Jabong deal is one of the five numbers we selected for you today. Please do read and let us know what you think.
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News In Numbers: July 27
What is it? The revenue multiple at which Flipkart bought online retailer Jabong. At $70 million, the buy price is about 50% of Jabong’s revenues.
Why is it important? Fashion and apparel segment is most profitable among all online segments. In addition, Jabong has reported gross profit margins. The deal is also an indicator of the valuation of firms in fashion e-tailing sector. In 2014, Flipkart bought Myntra forabout $300 million.
Tell me more: Once the deal is through, Flipkart will secure more than 50% market share in online fashion and apparel market in India. Amazon is also actively pursuing this space.
What is it? The number of people affected by floods in Assam due to overflowing of the state’s main river Brahmaputra.
Why is it important? The situation has become worse in the last two days with half of Assam’s districts impacted. Nearly 1.27 lakh people moved into 322 relief camps in 19 districts so far, and 10 people have lost their lives.
Tell me more: 60 per cent of Kaziranga National Park, which houses one-horned rhinoceroses, is submerged because of floods. This has pushed the rhinoceroses into high grounds where they are vulnerable to poaching.
Rs 1.02 trillion
What is it? The amount of additional money government will spend this fiscal to implement the Seventh Pay Commission recommendations for central government employees.
Why is it important? This additional money in the hands of around 3.1 million employees will spur demand for consumer facing industries like cars, two-wheelers, durables etc., The top 25 cities will account for 38% of salary gains from implementing the pay commission recommendations.
Tell me more: Though the pay commission recommendations are restricted only to central government employees, the state governments would also be forced to increase salaries over the next two years.
Rs 600 crore
What is it? The amount the government paid to external lenders between 2009-10 and 2014-15 for unused credit line as commitment charges.
Why is it important? This could have been avoided with better debt planning, according to Comptroller and Auditor General (CAG). India’s external debt – at $474 billion by end of 2015 – around this period was second highest among the Asia Pacific countries.
Tell me more: While external debt has grown, India (at 23%) also has among the lowest external debt to GDP ratios among the emerging economies
What is it? The potential jail term for those who employ children, according to changes in child labor law labour.
Why is it important? This is more stringent than the existing penalty for the violations, and might help bring down child labour – and along with Right to Education initiatives increase enrollment in schools. At the same time, the new changes allow children to work for their families and have brought down the number of banned occupations for adolescents. United Nations has warned it could adversely impact backward castes and tribals.
Tell me more: The Child Labour (Prohibition and Regulation) Amendment Bill, passed in Lok Sabha on Tuesday increased jail term for offenders to 6 months to two years and or a fine of Rs 20,000 to Rs 50,000. Imprisonment can go upto three years for a second time offence.