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News in numbers - July 26

Rs 62
Government is planning to declare anyone spending less than Rs 62 a day in urban areas as poor and will be eligible to get subsidised food as part of the proposed Food Bill. In rural areas, the line would be Rs 50 per day. It was only yesterday, the planning commission declared the poverty level came down to 22% of population assuming poverty line of Rs 32 in urban areas and Rs 27 in rural areas. At the proposed level, 65% (or 795 million) of Indians will be labeled as poor. 

Swedish cement major, Holcim will scoop out 92% of Gujarat Ambuja's Rs 3,700 crore cash after the proposed reorganization. In a two-stage deal, Gujarat Ambuja- which has 22 million tonnes of cement capacity - will pay Rs 3,500 crore to acquire 24% stake in Holcim's financial arm in India. Then, Holcim will merge itself with Gujarat Ambuja Cement. Market reacted negatively to the news with shares of Gujarat Ambuja fell by 10.6%- the sharpest drop in five years. 

For the first time, Apple CEO Tim Cook mentioned about sales of iPhone in the Indian market, saying it showed 400% growth in just ended April - June quarter. Though he did not divulge exact numbers, CyberMedia Research says iPhone shipments were 205,000 units in three months ended June 2013, as compared to 72,000 units in year-ago period. If Apple manages to sell 200,000 units every quarter, its smartphone market share in India would be still less than 10%.

That's the amount of interest the central government is paying while borrowing through the 91-day treasury bill (T-bill). This is the highest since 1996. For Rs 16,000 crore worth of T-bills, government would pay extra interest of Rs 140 crore as compared to last auction rate of 7.48%. India's central bank has taken steps to control liquidity in the market to arrest the fall of Indian rupee, but it has impacted the bond market. 

150,000The top 10 software firms will hire 150,000 engineers this year as compared to 200,000 hired in 2012. But only 40% of them will hired in-campus as compared to previous norm of 60-70% of total hiring. As software firms face uncertain demand from their primary markets- US and Europe - they are staggering the offer letter from once a year to twice a year to fresh graduates. 


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