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News in Numbers: BS-III vehicles worth Rs5,000 crore remain unsold, says Siam

LiveMint logoLiveMint 13-04-2017 howindialives.com

3.81

What is it? The consumer price inflation (CPI) in March 2017.

Why is it important? CPI inflation or retail inflation grew fastest in five months since October. This is in line with Reserve Bank of India’s concern about rising inflation, leading it to hold rates in successive policy reviews. It even raised its rate of borrowing from banks—reverse repo—to constrict liquidity, in the latest review. RBI expects inflation to reach 4.5% in the first half of FY17 and 5% thereafter. 

Tell me more: The CPI, often affected by food price inflation, suffered from higher fuel prices, instead in March. Food price inflation was actually less than in February, at 1.93%.

94.9%

What is it? The operating ratio of Indian Railways (IR) in 2016-17. 

Why is it important? The ratio is higher than previous years, denoting high expenditure by IR to earn revenue. For every rupee, IR spent 94.9 paise. While the ideal benchmark of 80% or lower is still a distant goal, the ratio was 90.2% in 2012-13. 

Tell me more: The increasing operating ratio coupled with low revenue growth in freight, seen in 2015-16, which accounts for the bulk (three-fifth) of rail revenue, could strain the highest-ever budgetary allocation. There are certain steps for profitability which IR said it’s taking.

Rs5,000 crore

What is it? The value of the stock of BS-III vehicles which remain unsold, following the Supreme Court’s ban.

Why is it important? It is the value of around 120,000 vehicles, representing 15% of the original stock of BS-III vehicles when the ban was declared. Two-wheeler manufacturers took a hit of Rs1,200 crore in order to sell their heavily-discounted stock. The scramble to sell got more frenzied as Supreme Court, on 30 March, extended the ban to not just stalling BS-III vehicle manufacturing but also sales from 1 April.

Tell me more: The Society of Indian Automobile Manufacturers says the uncertainty created in the auto sector, as a result of the eight-month ban in Delhi on diesel cars and sports utility vehicles last year and the present blanket ban on sale of existing stock of BS-III vehicles could affect investments.

114%

What is it? Productivity of Lok Sabha during Budget Session 2017, which started on 31 January and ended on 12 April .

Why is it important? It is one of the most productive sessions, and also one of the most contentious. Lok Sabha passed 23 bills, Rajya Sabha 14 and both 18. Some far-reaching legislations—including changes in the political funding by companies, and linking of Aadhaar to PAN (permanent account number) cards—were passed as money bills, on which Rajya Sabha has only the power to suggest changes, but not to stall their passage.

Tell me more: Four bills related to goods and services tax (GST) were passed during the session. 

7 to 10 days

What is it? The likely duration of the Election Commission’s open challenge to hack electronic voting machines (EVMs).

Why is it important? This comes amid accusations by political parties, especially Arvind Kejriwal’s Aam Aadmi Party, that EVMs were hacked in favour of the BJP. The Election Commission and its officials, past and present, have vehemently denied it. A widely shared news item on tampered EVMs in Madhya Pradesh was found to be false. Now, EC has issued an open challenge to experts, scientists and technologists to try and hack the machines. 

Tell me more: In 2010, BBC had a report saying US scientists claimed to have developed a technique to tamper with the machines. “It is not just the machine, but the overall administrative safeguards which we use that make it absolutely impossible for anybody to open the machine,” the Indian Election Commissioner had told BBC then. 

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