Skip to main content

News in numbers - July 20

Rs 93,066 crore
That's the amount of cash Reliance Industries Ltd has in its book. In the just concluded quarter, RIL earned Rs 1,628 crore as interest income- accounting for 30% of its net profit. At the same time, the company also has Rs 80,307 crore of debt and incurred Rs 810 crore as interest expenses. Though the debt is only 14% lower than cash, the interest expenses is 50% lower than what RIL earned from its cash holdings. The reason could be $ 12 billion foreign currency denominated debt borrowed at low rates. But falling value of rupee could erase the gains.

3.2%is the level of unemployment among Muslims living in rural areas. In the five-year period (2004-05 and 2009-10), joblessness fell from 4.1% among rural Muslims. But in urban areas, unemployment among Muslims is much lower at 1.9%. Hindus, who occupy more than 80% of India's population, have the lowest unemployment in both urban and rural areas. Sharpest drop in joblessness is experienced by urban Christians from 8.6% in 2004-05 to 2.9% in 2009-10. Unemployment among urban Sikhs is the only category to show increase in the five-year period. 

14%Ever wondered why political parties field criminals and wealthy candidates. Two papers (click here and here) says candidates with criminal record have better chance (14%) to win as compared to other candidates (6%). And candidates with criminal record tend to contest from constituencies with higher percentage of poor and illiterate voters. In 34% of constituencies, the candidates with highest declared votes win the elections. Now we could understand why political parties disagreed with recent Supreme Court judgement banning tainted candidates from contesting elections. 

10.03%
Of the 27,556 candidates who appeared in final exams (both groups) conducted by the Institute of Chartered Accountants of India (ICAI), only 2,764 candidates (or 10.03%) passed - making this it one of the toughest exams to pass. 

Rs 1,000
That's the amount paid to majority of 2.7 million cooks who work in more than 1.2 million schools in India. A major demand for these cooks who implement government's mid-day meal scheme is job regularisation. Tamil Nadu is the only state which recognises them as permanent government employees and pays Rs 5,000 per month. 

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…