Skip to main content

News in numbers - July 17

15%
Poverty level declined by 15 percentage points to 22% between 2004-05 and 2011-12 when the Indian economy grew at an average rate of 8.4%. Economists are calling it the fastest reduction in poverty rate in any eight years. Arvind Virmani, former economic adviser to the Indian government, tweeted that 70% of reduction in poverty is due to economic growth. Poor states have shown sharp reduction in poverty.  

100%
India has decided to allow 100% foreign ownership in telecom and tweaked for 12 other sectors including insurance, aiming to attract foreign capital to bridge the record trade deficit of $ 191 billion. At the same time, foreign direct investment shrunk by 38% during last fiscal. 

Rs 94,500 crore
This opinion piece argues that direct cash transfer might be government's trump card to cap its spiralling subsidy spending, after implementing Food Security Bill- which guarantees subsidised food grains as a right to 67% of India's population. If cash transfers is transferred only to people below poverty line, then the benefit can be capped at 25% of population.

Rs 500 crore

That's the amount Tamil Nadu government will spend to acquire 3.56 per cent equity in Neyveli Lignite Corporation (NLC), a central government owned power utility. Market regulator had mandated all state-run firms to have at least 10% public shareholding. Central government held 93.56% stake in NLC, and wanted to sell 3.56% to meet the norm. Tamil Nadu government's purchase come in the background when its own state-run firms are incurring Rs 14,000 crore of losses in fiscal 2012, and are in need of capital. 

65-70%

Two-third of Delhi's metro users travel during time peak-hours. This has promoted Delhi Metro Corporation- the operator of 190-kilometer network- to propose discounted fares during non-peak hours. 

Comments

Popular posts from this blog

How can you support a publication you like

When I shifted to my half completed (more on this some other time) flat in Gurgaon in 2016, I couldn't locate newspaper distributors for four or five months. Suddenly, from consuming four or five newspapers, I was completely dependent on digital media. I was going less directly to the news source (say, thehindu.com or livemint.com) but was getting my news from Facebook and Twitter, and from apps like Flipboard.

It became an experiment, as I was consuming interesting stuff but I was not necessarily getting informed. People whom I have met once or twice, or have never met are influencing what I was consuming via Facebook. If you're wondering why you often see posts by your most popular friends, that's the way Facebook algorithms work, unless you specify who's feed should come first. If Facebook promotes post of your not-so-popular friends, why would you read!

I searched hard to find a newspaper distributor and found one finally, after four or five months. So now I subsc…

What if government schools and hospitals attract people with money

I had this random thought (and I get this often only when I have 1000 important things to finish!)- what if people who can afford private schools and hospitals find state-run schools and hospitals good enough for them. All of my friends in UK and US don't send their children to private schools (its another matter that location matters on quality of state-run schools there) and those in UK, don't spend money on healthcare.

Just imagine if this can happen in India. People will be left with more surplus that they can save more or spend on something else. School fees in major Indian cities can be as high as Rs 2 lakh per child per year. The sheer confidence that we don't have to spend on medical expenses and the state will take care will give confidence to spend more money.

The multiplier effect of this extra money in the hands of the people will hugely benefit the economy, and can spring creative enterprises.

This level of expenditure (even Rs50,000 per child per year) is si…

'koil madu' and myself........

'Koil madu' is a Tamil term used to describe the cows that are tied to the temple. It is there forever. In literal usage, the term can be used on people who spend loads of time at religious place. I might fit that description well. Haven't missed many Sunday church services. If I have to put a number, I would have attended 39 out of 40 years of Sunday services.

Last Sunday, the preacher at my Delhi church was referring to Ecclesiastes 11: 1 and 2. In the last few years, I have started to like the Message translation of The Bible. This version uses modern day language, yet it captures the true meaning of the root language. So I referred to the Message version when the preacher was mentioning these verses.

These verses I haven't heard before and it was sort of like an eye opener on what the Bible says on charity. I have been a 'koil madu' but haven't found this verse for this long. It was profound. Check out the verses:

"Be generous: Invest in acts of ch…