News in Numbers, Mar 01, 2017: Saying ‘Tata’ to DoCoMo

$1.18 billion

 

What is it? The amount Tata Sons will pay Japanese telecom firm, NTT DoCoMo for its stake in their Indian joint venture.

 

Why is it important? This ends the dispute between two former partners in the telecom venture. The settlement was 60% lower than what DoCoMo demanded initially in a London court. The resolution was finally done in an out-of-court settlement.

 

Tell me more: DoCoMo had decided to withdraw from India in 2014 but a pre-determined price of either half of its original investment of $2.2 billion in 2009 or a fair market value was opposed by India’s central bank. Unable to find another buyer, Tata Sons had offered to buy back the stake which was devalued by a PWC audit.

 

 

4.4%

 

What is it? The official estimated rate of growth of the farm sector (agriculture, forestry and fishing) in fiscal 2017.

 

Why is it important? The sector, 60% of which is made up by crop output including fruits, vegetables and grains, contributes 16.11% to India’s Gross Added Value (GVA). But the expected growth above 5% after two years of drought is still elusive.

 

Tell me more: Production of food grains in the Kharif and Rabi seasons of 2016-17 grew by 9.9% and 6.3%, respectively, compared to the decline of 2.3% and growth of 2.0%, respectively, in the previous year.

 

 

$5.37 billion

 

What is it? The valuation of Flipkart by one of its investors, Morgan Stanley Institutional Fund Trust, as revised by it in the December, 2016 quarter.

 

Why is it important? Morgan Stanley is the fifth investor to revise downwards the valuation of Flipkart, India’s largest e-commerce player. It did it for the fifth time. Other investors such as Fidelity, T Rowe Price, Valic Co and Vanguard have cut their estimates of Flipkart’s value over the past year as well.

 

Tell me more: Flipkart’s valuation from its last funding had stood at $15 billion. It is now looking to raise $1.5 billion, according to reports, valuing the company at $10-12 billion.

 

 

6

 

What is it? Number of engine snags reported in Airbus ‘A320neo’ in the last one month, forcing India’s civil aviation regulator to start an investigation.

 

Why is it important? Though only 21 A320neo are operated in India by Indigo and GoAir, these two airlines have cumulatively ordered 500 jets of this model mainly on account of superior fuel efficiency.

 

Tell me more: Indigo, the market leader, will go ahead with planned expansion of its fleet despite the latest snags in engines manufactured by Pratt & Whitney. Airbus launched ‘A320neo’ in January last year.

 

 

Up to 1.0 degree Celsius

 

What is it? India will experience higher than normal (up to 1.0 degree C) temperature in the summer months of March-to-May, according to the Indian Meteorological Department

 

Why is it important? Above normal temperature impacts monsoon and causes heatwave conditions. Last year was the warmest on record since 1901, but India experienced normal monsoon in 2016 after two consecutive droughts in 2014 and 2015.

 

Tell me more: More than 700 people died last year because of heatwave conditions in India.

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Chart of the Day | The Hottest Months

The earth is getting hotter. Every month this year has set a record for the hottest month ever, since world temperature was tracked from 1880. So it was with June. The month – with temperature of 0.9 degree-Celsius above average, according to US agency Noaa – is the 14th in a row of hottest months ever.

A closer look shows the trend began well before the strong El Nino of 2015-16 took root. Consecutive record-breaking hot months began in April of 2014, only interrupted in July and November of that year. In 2015, only January and April were not the hottest among the 136 years on record by then.

2016 has not seen a break so far, continuing with the trend since May of 2015. El Nino is believed to contribute only 0.1 degree-Celsius to such spikes.

The following table shows the ranks, on a scale of 1- 137 for coldest-hottest year for a particular month for 2016 data, and 1-136 where 2015 is the latest available year.

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News in numbers, Jan 26, 2016: India and France sign deals worth $15 bn, new voters added…

$ 15 billion

What is it? Deal value of 30 agreements signed between India and France in the last two days

Why is it important? Two major deals – $9 billion to purchase 36 Rafale fighter aircrafts and a shareholding agreement between Indian Railways and Alstom to produce 800 locomotives worth $ 3 billion locally – were taken forward and will help meet India’s priorities now. One to replace the ageing MiG fighter jets, and another to give boost to ‘Make in India’ program.

Tell me more: Financial details are yet to be agreed for the Rafale deal, where an Inter-governmental agreement has been signed. In Alstom deal, a shareholder agreement was inked.  French President François Hollande is on a three day visit to India, and will be the chief guest at India’s 67th Republic Day celebrations.

 

18 million

What is it? That’s the number of new voters added in the one year. With this, India now has 850 million electors.

Why is it important? Shows the success of the Election Commission to enthuse teenagers who become eligible to vote to enroll. Half of new voters enrolled are in the age bracket of 18-19 years, as compared to 10-15% in previous enrolment drive.

Tell me more: Census data shows 4.8 million people in age bracket of 18 to 19 years, but the enrollment numbers are double of that. The data doesn’t match, though Census is 2011 figures. Voter turnout in 2014 parliamentary elections was 66.4%, the highest ever.

+ 0.67 ° Celsius

What is it? Increase in annual mean temperature in 2015 in India, the third warmest year since 1901.

Why is it important? Twelve out of fifteen warmest years were recorded in last fifteen years, indicating a secular trend of increase in temperature. In particular, October – December last year, was the warmest since 1901.

Tell me more: World Meteorological Organization too declared 2015 as the hottest year on record, with temperature 1 degree celsius above pre-industrial era.

 

3.09 crore

What is it? The number of income tax returns filed electronically between April and December 2015.

Why is it important? That’s a jump of 27.3% from 2.43 crore during the same period last year, and close to 3.41 crore filed during the full financial year. (There are about 5.16 crore crore tax payers in India according to income tax department, based on returns filed and tax deducted at source). The jump underlines the advantages of digitising citizen to government interactions, and also the inefficiencies in physical movements of documents. There were complaints about the delays in receiving filings earlier.

Tell me more: Data provided by income tax department hit headlines recently after economist Thomas Piketty, best known for his study on inequality published in “Capital in the Twenty-First Century”, complained that there was “an extreme lack of transparency in information about income-tax data.”

1500 plus

What is it? The number of candidates vying for US presidency.

Why is it important? The final contest for White House often ends up between the Republican and Democratic nominees. (This time there could be a third, with Michael Bloomberg considering a presidential bid.) However, a large number of presidential hopefulsrepresenting a range of parties (American Independent Party, American Freedom Party, Constitution Party, Green Party, Libertarian Party, Objectivist Party and so on) or as independents throw in their hats too. In 2012, the number of presidential hopefuls was

Tell me more: While most of these candidates can be ignored, third party performances have had impact on elections – in 1996, businessman Ross Perot, competing as an independent won 18.6% of the popular vote.

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