Ap_facebook_dislike

Facebook’s “Big Mistake”

106

What is it? The number of US products that China has levied additional tariffs on, though it has not announced the effective start date yet.

Why is it important? China took less than 11 hours to hit back at the United States, which proposed 25% tariffs on about 1,300 Chinese products, whose imports to the US are in the region of $50 billion. This has heightened fears of a global trade war, and rattled investors and fueled market fears.

Tell me more: Washington has targeted products that benefit from China’s industrial policy, while Beijing’s list picks out signature US exports such as soybeans, frozen beef, cotton and other agricultural products grown in states that voted for President Donald Trump in the 2016 elections.

 

87 million

What is it? The number of Facebook users whose personal information might have been improperly shared by the social media giant with political consultancy Cambridge Analytica.

Why is it important? The new number was disclosed by Facebook chief technology officer Mike Schroepfer in a blog post yesterday, and is an increase over the 50 million number that has been cited in news reports so far. Of this, 70 million were Americans and 0.6 million were Indians. Facebook chief Mark Zuckerberg will testify before a US Parliamentary panel on April 11.

Tell me more: As of December 2017, Facebook had 1.4 billion daily active users, a number that increased 14% in 2017.

 

99

What is it? The number of startups reportedly funded under the Startup India initiative, of the 6,981 startups recognised by the Department of Industrial Policy and Promotion (DIPP) as on February 6, 2018.

Why is it important? A Parliamentary committee report has expressed grave concerns about the gap between the number of startups recognised by the DIPP and those that have received funding and tax exemptions. Only 82 entities have been certified for claiming tax exemptions under the Income Tax Act, 1961. With such progress, it seems like a steep climb for the DIPP to achieve its target of facilitating and supporting 1,000 startups by March 2019.

Tell me more: According to a recent poll by community-based social networking platform LocalCircles, 80% of respondents said they have not benefited from the government’s Startup India plan.

 

24%

What is it? The share of American Depository Receipts (ADRs) in ICICI Bank’s shares.

Why is it important? The bank and its top management are at the risk of facing a class action lawsuit in the United States by holders of the lenders’ ADRs, according to a note by brokerage firm Jefferies. ICICI Bank’s chief Chanda Kochhar is facing the heat for her alleged involvement in the financial dealings between the bank, Videocon Group and her husband Deepak Kochhar’s firms.

Tell me more: The bank has refused to hire external agencies to conduct an independent investigation into the nepotism allegations against Kochhar.

 

19 minutes

What is it? The number of minutes in a passage of play in which English football club Liverpool slammed three goals past Manchester City in the first leg of their quarter-final match in the Champions League.

Why is it important? The burst helped Liverpool win 3-0 and put them in the driver’s seat for the return leg in Manchester in a week’s time. All season long, teams have struggled to match up to Manchester City in the English Premier League, with the result that the club holds a 16 point lead with seven games left, and is poised to break the 100-point mark.

Tell me more: City’s only loss in the EPL this year at the hands of Liverpool in January, in the same ground where they lost yesterday.

 

Read More

A truck 🚛 shortage for cars 🚗

7 years

What is it? The number of years for which start-ups will be eligible to receive tax benefits under Startup India Scheme. Start-ups can avail tax exemption for three years within seven years of incorporation.

Why is it important? The move could help bring more start-up under the Startup India Scheme, which has seen limited success so far. Till April 2017, only 10 startup have availed tax benefits under the scheme. Government has removed the requirement to get a certificate from an incubator or industry association to be eligible for tax benefits.

Tell me more: Finance Bill 2017 had proposed the same but said the implementation will be from April next year. Industries Ministry has not spelt out from when the change would be rolled out.

 

248,000

What is it? Net migration number for UK in 2016.

Why is it important? The number, a difference between how many immigrated and emigrated from the island nation, has fallen by 84,000 from 2015. It was mainly driven by 115,000 European Union citizens who emigrated in 2016, as compared to 31,000 in 2015.

Tell me more: In June last year, UK voted to move out of the European Union. The status of EU citizens in UK is still not clear, as UK wants to extract reciprocal rights for its citizens.

 

30%

What is it? The supply gap in new automobiles created by a shortage of car carriers.

Why is it important? The supply crunch, estimated to last for 45-90 days, is a result of car carriers, or the large trucks transporting new cars from factories to warehouses and showrooms, reducing their length to meet new regulation. New Central Motor Vehicles Rules stipulate car carriers to measure no more than 18.7 metre. Around 15,000 such trucks are in line to be modified from their usual size of 22 metre or longer, leading to the shortage.

Tell me more: The smaller carriers would also mean more trips for each as their carrying capacity would be cut by 20%. The rule came into effect from April this year, doing away with illegal sizes of car-transporter trailers.

 

40,000

What is it? The number of ideas generated by the ‘Zero Bench’ at Infosys.

Why is it important? ‘Zero Bench’ a coin termed as part of Infosys CEO Vishal Sikka’s Zero Distance initiative, is geared to keep the software giant’s 8,500-employee-strong bench motivated. Roped in for its innovation and problem-solving drive, the bench, comprising engineers not assigned a project at the time, have implemented 2,000 ideas and generated 9,500 master projects.

Tell me more: The engagement involves over 4% of Infosys total employee strength (200,364 as on March, 2017).

 

50 metre

What is it? A draft coastal regulation zone proposal aims to reduce the no-development zone in rural areas to 50 metre from the high tide line, as compared to 200 metre at present.

Why is it important? This could fuel economic activities alone India’s 7,500 km-long coastline, but environmentalists fear such a move would damage marine environment. The draft permits housing and basic infrastructure for local population after 50 metre from the high tide line, from 100 metre as of now.

Tell me more: Coastal Regulation Zone notification was first issued in 1991 to limit industrial activities. Since then, it has been amended 25 times.

Read More

News in Numbers, Jan 04, 2017: Unicorns’ babies…

700

What is it? The number of startups spawned by India’s 12 unicorns (with $1 billion plus valuations), according to startup and venture capital tracker Tracxn.

Why is it important? Indicates the kind of contribution such unicorns make towards the startup ecosystem – could be in terms of experience, exposure to the startup culture, financial security orsupport from the unicorn. However, just like any other startup, these also face trouble in terms of sustainability and scaling up and raising resources. For instance, less than one of every 10 startups are able to get funding from an institutional investor and less than 3% are able to get Series B stage funding, according to Abhishek Goyal, co-founder of Tracxn.

Tell me more: This is similar to the host of entrepreneurs created by Infosys and Wipro, whose ex-employees have gone on to set up 867 and 685 companies so far.

 

Rs 23,528.73 crore

What is it? The amount the government has raised via disinvestment in the first eight months of 2016-17.

Why is it important? This is 41.6% of the disinvestment target of Rs 56,500 crore set for 2016-17, better than the previous fiscal’s 36.4%. To accelerate disinvestment process, the Department of Investment and Public Asset Management has replaced annual plans with rolling ones, fast tracked approval process and reserved 20% of shares on public sector units’ offer for sale (OFS) transactions for retail investors.

Tell me more: The government has focussed more on share buybacks(cash-rich public sector units buying the government’s stake in companies) this year rather than raise money from the equity market through the OFS route. Of the total amount raised through this route until November, about 91% (or Rs 21,432.38 crore) has been through minority stake sale in 14 central public sector enterprises and the rest (Rs 2,096.35 crore) through strategic disinvestment.

 

12 nautical miles

What is it? The offshore distance up to which some coastal states wants to levy goods and services tax.

Why is it important? The demand by states such as Kerala, Karnataka and West Bengal could delay GST rollout. Besides, some states also asked for increasing the number of items on which cess would be levied to compensate for the loss in revenues (after the rollout of GST) by up to 40% due to demonetisation. The government was initially aiming for an April 1 rollout but it may reportedly be done by June or July 1, within the mandatory deadline of September.

Tell me more: The earlier proposal was a Rs 55,000 crore GST compensation fund in the first year by levying cess on luxury items and demerit or sin goods over and above the highest tax slab of 28% but now, states expect this to go up to Rs 90,000 crore.

 

Rs 3,500 crore

What is it? The estimated annual fiscal impact of the measures announced by Prime Minister Narendra Modi on the New Year’s eve, according to a report by the State Bank of India research team.

Why is it important? The report has termed this cost to the Indian economy as “minimal” given the “social and economic benefits” of the schemes announced. It has suggested a tweak to the scheme announced for senior citizens: to decrease the lock-in period to five years from 10 and that the maximum deposit limit should be Rs 15 lakh instead of the proposed Rs 7.5 lakh. Under the scheme, senior citizens are to receive a fixed interest rate of 8% for 10 years on deposits up to Rs 7.5 lakh where the interest can be paid monthly.

Tell me more: The Pradhan Mantri Awas Yojana (a housing scheme) is available for those belonging to the Economically Weaker Section (households with annual income up to Rs 3 lakh) and Low Income Group (households with annual income between Rs 3 lakh and Rs 6 lakh). As a rule of thumb, a person with annual income of Rs 6 lakh is eligible for a housing loan of Rs 24 lakh and if this is the case, then the revised scheme announced recently could be a “game changer” as nearly two-thirds of housing loans of 26 public sector banks are in the category of less than Rs 25 lakh.

 

88 million

What is it? The number of cows and buffaloes that would get a 12-digit unique identification number this year.

Why is it important? The idea is to tag and track cattle in order to vaccinate them regularly and to use scientific interventions for better breeding and improve milk production. The government has earmarked Rs 148 crore for the procurement of tags, tag applicators, health cards and tablets. In 2014-15 and 2015-16, milk production has increased by around 6.2-6.3% on a year-on-year basis. India ranks number one in milk production, accounting for nearly a fifth (18.5%) of the global production.

Tell me more: About a lakh technicians with 50,000 tablets have set out this year to affix a tamper-proof polyurethane tag inside the ears of the cattle. After assigning the tag, the technician would enter the number in an online database and provide an animal health card to the cattle owner, which would contain the unique identification number, details of the owner, breeding details, status of deworming and vaccinations.

Read More

When start-up investors became wary

This piece originally appeared on Livemint.com

 

In April 2015, the Indian unicorn club—start-ups with a valuation over a billion dollars—got two new members: Paytm and Zomato. They joined the earlier elite of Flipkart, Snapdeal, Ola, Mu Sigma and InMobi, among others.

2016 turned out to be different, as international competitors, especially Amazon and Uber, got more aggressive in India. Amazon recently launched Prime Video and Uber CEO Travis Kalanick joked that he would apply for Indian citizenship, even as Indian entrepreneurs complained about capital dumping from their competitors abroad. Zomato, a restaurant search service with global ambitions, and Flipkart, one of India’s earliest to breach the $1 billion club, saw investors such as Morgan Stanley and HSBC Securities lower their valuations (see charts 1 and 2).

The concern about a low ratio of online shoppers/spenders to Internet users loomed large, and demand for online services were not picking up pace the way fund houses had hoped. Of course, Indian companies were not the only ones drawing flak. Global companies also saw markdowns. Investors’ wariness reflected in their average investments in 2016 (see chart 3).

 

strtup1

strtup2

strtup3

 

 

Read More