News In Numbers | Jaguar Land Rover to invest $25 million in Lyft for self-driving cars
- Honda overtakes Bajaj to seal No. 2 spot in domestic bike sales
- Govt flags SC collegium decision to end performance evaluation of additional judges
- Emaar India plans to raise Rs500 crore by March 2018
- GST rate structure needs complete overhauling: Hasmukh Adhia
- Banking sector stares at additional Rs40,000 crore NPAs
What is it? The retail price inflation in May 2017.
Why is it important? The consumer price index (CPI) inflation growth was the lowest since India started publishing it in 2012. This might increase the pressure on the central bank to cut the key rate of repo, on hold since October 2016, at 6.25%. Rate cuts, however, depend on how Reserve Bank of India (RBI) sees inflation moving in the quarters ahead.
Tell me more: Food prices in retail markets decreased by 1.05% in May, leading to the low overall price rise. Another government indicator, the quick estimate of industrial production, showed a positive trend of 3.1% growth in April, higher than in February and March 2017.
Why is it important? The prevalence of tobacco users has gone down by 6 percentage points from 34.6% in the same study in 2009, a positive outcome as tobacco contributes to poverty. It translates to a reduction of 8.1 million less tobacco users in the country, which is the second-largest consumer of tobacco products in the world.
Tell me more: About 54-62% of smokers of bidis and cigarettes have thought about quitting on seeing the warning labels on the packets, against 30-38% in 2009.
What is it? The investment Tata Motors’ Jaguar Land Rover (JLR) will make in the US ride services company, Lyft, to develop self-driving cars.
Why is it important? The mobility services arm of JLR, InMotion, will make the investment as other automakers such as General Motors, Ford, Tesla, Mercedes, BMW and tech companies such as Alphabet and Intel are scrambling to help get the first self-driving prototype out in the market. Car-sharing and hiring apps like Lyft and Uber, too, are conducting their own R&D.
Tell me more: JLR will provide its cars to Lyft for the research and development. Self-driving cars, which saw increased focus from 2016 onwards, are expected to change the way customers buy cars and reduce the cost of ride services as well.
What is it? The percentage by which pharmaceutical companies can increase the price of non-scheduled drugs every year, according to Drug Price Control Order (DPCO) 2013.
Why is it important? The companies want the cap to be increased to counter the increase in taxation with 12% from 9% for 80% (non-essential) of drugs, under the imminent goods and services tax (GST) system.
Tell me more: Life-saving or essential drugs will have a tax rate of 5% under GST.
What is it? The shortage in Delhi police staff in the lower-middle ranks.
Why is it important? Delhi Police has been plagued by a top-heavy structure, with more senior staff than sanctioned strength but with most of the lower positions remaining unfilled. When nearly 26,000 constables and assistant sub-inspectors were promoted last year, it left a lacuna in the lower ranks. The current requirement is for over 14,000 personnel, from around 81,000.
Tell me more: Last November, there were 76,237 policemen and women in Delhi, against the sanctioned 82,378 posts. The working strength came down from 77,117 the year before, an RTI revealed.
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