Skip to main content

News in numbers - July 3

100%
is the amount of equity foreign telecom companies can have in Indian operations. Telecom Commission, the highest decision making body in telecom ministry, recommended this. Only 49% foreign investment will be under automatic route. Prior approval is needed to increase beyond that. 

67,787
is the number of cases pending in the Supreme Court as on May this year. More than 33 million cases are pending in India's court system. Not enough judges is one of the reasons. India has 10 judges every 1 million population, as against accepted norm of 50 per million. 

$3.7 trillion
will be the total Information technology spend this calendar year, representing a growth of 2.1%. Gartner had earlier predicted it at $ 3.8 trillion. Higher global spend is crucial for India's $ 100 billion software IT industry which employs 2.8 million people. 

11,000
State-run Food Corporation of India (FCI) will hire 11,000 people to operationalise National Food Security Law, which aims to provide food grains at low cost to 67% of India's population. This would mean FCI has to procure an additional 63 million tonnes of grains annually. 



176,031
is the number of cars sold by car makers in June this year, as compared to 187,386 in year-ago period. Slower growth is putting pressure on car makers even as deprecating Rupee meant import of auto components costlier. 

Note: Click on the numbers to see the article from where it's sourced. 


Comments

Popular posts from this blog

'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…

How not to spend taxpayers money

If you're wondering how best your tax money is spent, then you should look at how Telangana's Rythu Bandhu Scheme works. The state government decided that it will give Rs4,000 per acre as investment incentive to all farm owners. The biggest benefit would be farm mechanization by small landowners who otherwise may not have opted for machanisation. So far so good. 

Here is the interesting thing: the incentive per acre is given to all farmers irrespective of how much land is owned, or whether he is actually tilling the land. 

So a farmer with 200 acres of land, will pocket Rs 8 lakh of public money (money that you and me pay as tax), and in all probability, he is filthy rich and is not even tilling the land. 

Anyone with any semblance of knowledge of rural economy will say there are a vast number of tenant farmers (people who don't own the land, but they till and share a portion of the product with the landlord). Telengana government in its infinite wisdom decided not to include…

Happiness, street vendors, and negotiations......

Few days back I was watching a documentary series, "India's Frontier Trains". The three-part series was on trains connecting India with its neighbours - Bangladesh, Pakistan and Nepal. Yes, there is a train connection between India and Nepal, and that train is the only functioning train for the whole of Nepal.

In the episode on the train between India and Bangladesh, the program documented a life of a chocolate seller inside the train. He boards the train in the Bangladesh side of the route. A sole bread winner for a family of four, he earns by selling chocolates in the train.

He faces a perennial problem: because of hot weather conditions, his chocolates melt. In those hot days, his earnings are meager. A basic cooling device like this costs seventeen pounds and he couldn't afford that.

What moved me was the insensitive nature of some passengers in haggling with this struggling chocolate seller. They would force down the price by 10 pence or more (which is more tha…