News in Numbers – September 15, 2015

News In Numbers: September 15, 2015

 

6.36%  

The rate at which consumer prices of vegetables fell in August 2015 compared to the same period last year. This rate of decrease was higher in the urban areas than in the rural ones. However, compared to a month ago, vegetable prices went up by 8.5%. Pulses and related products saw the highest rate of increase in consumer prices among all the other product groups in August from a year ago while ‘sugar and confectionery’ saw the highest rate of decline in the same period. The wholesale prices of onions recorded the highest annual increase among all the major commodity groups at 65.29% in August 2015. Overall, wholesale inflation declined for the 10th straight month in August at 4.95% compared to 4.05% in July, aided by falling global commodity prices. Inflation based on the consumer price index fell to a nine-month low of 3.66% in August from 3.69% a month ago.

#1

Gujarat’s position in implementing reforms to facilitate the ease of doing business among all Indian states. An assessment of state implementation of business reforms sponsored by the Department of Industrial Policy and Promotion has considered 98 parameters for the ranking. And, Gujarat’s score is 71.14% (implementation status of each state has been converted to a percentage) followed by Andhra Pradesh (70.12%), Jharkhand (63.09%), Chhattisgarh (62.45%) and Madhya Pradesh (62%). North eastern states — Arunachal Pradesh (1.23%), Nagaland (3.41%) and Meghalaya (4.38%) — are at the bottom of the list. Interestingly, Punjab is the best state to startup followed by Andhra Pradesh. Globally, India ranks 142 among 189 countries in ease of doing business, according to a World Bank report.

 

 

Rs 5,000 crore

The amount taxi aggregator Ola will invest in its newly formed cab leasing business in the coming year. A wholly-owned subsidiary will run the leasing business headed by former LeasePlan India executive Rahul Maroli. In India’s first such programme, drivers would be able to lease a car for a minimal initial deposit of Rs 35,000 and monthly lease payments of about Rs 15,000 with an option to own the vehicle after three years. Ola plans to invest Rs 500 crore initially, after which it would raise funds “independently for this subsidiary”.Over 1,000 vehicles are already operating as part of a pilot programme in six cities including Bengaluru, Chennai and Hyderabad. The company plans to add 10,000 cars under this model by December 2015. Ola, the third most valuable internet company, recently raised around $225 million led by Falcon Edge Capital and other existing investors.

 

2

The number of Indian institutes that have made it to top 200 universities in the world for the first time. The QS World University Rankings 2015 puts the Bengaluru-based Indian Institute of Science (IISc) in the 147th position while the Indian Institute of Delhi (IIT-Delhi) ranks 179. The world’s top university is Massachusetts Institute of Technology (MIT) followed by Harvard University. MIT has a score of 100 while the IISc scored 62 and IIT-D 56.4. In terms of academic reputation, only IIT-Delhi figures in the top 200 while in terms of employee reputation, IIT-Bombay, IIT-Delhi and IIT-Madras find themselves in the top 200 slot. IISc, which also debuted in the QS Asian University Rankings this year, ranks 34 in this list while IIT-Delhi is in the 42nd position.

 

1.6%

The share of medical applications in 3D printing industry, according to the US government-funded National Center for Biotechnology Information. The 3D printing industry, which is a $700 million industry, is expected to grow into a $8.9 billion industry by 2024 with 21% projected to be spent on medical applications. Meanwhile, 3D printing was used for the first time in the world to help perform a surgery on a Spanish cancer patient. The 54-year-old man has successfully received a 3D printed titanium sternum and rib implant and has recovered well. He was suffering from a type of tumour that grows in and around the rib cage and required his breastbone and a part of his rib cage replaced. Also, the US Food and Drug Administration has approved the world’s first 3D printed pill recently.

 

 

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News In Numbers – July 15

News In Numbers: July 15 

Rs 64.3 crore

The amount raised by the Aam Aadmi Party from public donations since 12 December 2013, shortly after the first elections it fought. On Tuesday, a day after party chief and Delhi chief minister Arvind Kejriwal made an emotional pitch for donations as it was close to running out of funds, AAP witnessed a renewal of interest and raised about Rs 12.3 lakh from 909 donors. Since December 2013, the only Indian political party that makes its entire donor list public has contested a national election and a state election, and expanded beyond its roots in Delhi.

 

Rs 250 crore

Bank of India’s exposure to Essar Steel, which has been classified as a bad loan by the bank’s auditors. If the principal and/or interest component of a loan are not repaid within 90 days of the due date, the bank has to classify it under the bad loans category, which attracts nearly 38 times the provisioning done for standard assets. In this case, the steel company paid its dues a few days after the stipulated period, and most banks treated loans to it as standard, but the auditors of Bank of India had insisted on going by the rulebook, prompting the bank to write to the Reserve Bank of India about this case. The bank posted a loss of Rs 56 crore in the March-end quarter, its first quarterly loss since 2001, mainly on account of higher provisioning and expenses.

 

0.4-0.6%

Lower oil prices could boost India’s GDP by 0.4-0.6% over the next two years. The agreement struck by Iran and six world powers (US, UK, France, Russia, China and Germany) on Tuesday will see the middle-eastern nation curb its nuclear programme in return for removal of international sanctions. The increase in oil supply from Iran is likely to result in lower crude oil prices, with the pace and quantum depending on how fast it can ramp its oil production. This is good news for India, which meets about 70% of its crude oil requirements through imports.

 

Rs 350 crore

The potential revenue loss that Chennai Super Kings, the best-performing Indian Premier League franchise on the cricket field, is facing following its suspension, along with Rajasthan Royals, from the league for two years. On the cost side, the approximate value of all players in the CSK team is $15 million (around Rs 95 crore). The brand value of both teams is also expected to erode.

 

2.40%

Wholesale inflation fell 2.40% in June, its eighth consecutive month of decline. Yet, this may not prompt the Reserve Bank of India to cut interest rates as retail inflation, the numbers for which were released a day earlier, was at an eighth-month high in June. The one point of convergence in the two rates was food prices. In June, the price basket of food items in the wholesale index rose 1.3%, mainly due to an increase in the prices of pulses, poultry chicken and tea.

 

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