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Business News/ Politics / Policy/  News in numbers | RBI projects 7.6% GDP growth for current year
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News in numbers | RBI projects 7.6% GDP growth for current year

Govt unveils list of 98 smart cities; Baba Ramdev's Patanjali Ayurved bigger than Emami and Jyothy Labs

RBI said it would focus on stressed bank assets as total stressed advances at scheduled commercial banks in India rose to 11.1% of total advances in March 2015, up from 10.7% in September 2014. Photo: Reuters Premium
RBI said it would focus on stressed bank assets as total stressed advances at scheduled commercial banks in India rose to 11.1% of total advances in March 2015, up from 10.7% in September 2014. Photo: Reuters

35%

Three states—Maharashtra, Tamil Nadu and Uttar Pradesh—accounted for more than a third of cities selected under the 48,000 crore Smart Cities project. These three states account for 35% of India’s urban population, and 31% of India’s gross domestic product (GDP). A total of 98 cities were selected under the project. Mumbai, Patna and Bengaluru do not figure in the list and the names of two cities are yet to be finalised. Urban population is projected to touch 600 million by 2031, as against 377 million in 2011. To meet the needs of the growing population, an investment of 39.2 trillion is needed to develop urban infrastructure.

2 tonnes

For the second consecutive time, Indian Space Research Organization (Isro) successfully placed a two-tonne satellite in the geosynchronous orbit using its indigenously developed cryogenic engine. This orbit is used for placing communication satellites, which are heavier. With this success, the space agency is planning to double the payload to four tonne in six years’ time. This will eventually help India achieve its mission of placing a man in space.

7.6%

The Reserve Bank of India (RBI) says the real activity indicators are likely to back its projection of 7.6% gross domestic product (GDP) in the current financial year. The three “work in progress" tasks of the central bank outlined in its annual report for 2014-15 include economic growth below levels that India is capable of, inflation projections for January 2016 and the reluctance of banks to cut base rates. The country’s consumer price index (CPI) was down to 3.78% in July, way below RBI’s target of 6% by January 2016. For January 2017 and 2018, its target is to bring down the CPI to 5% and 4%, respectively. Besides this, RBI said it would focus on stressed bank assets as total stressed advances at scheduled commercial banks in India rose to 11.1% of total advances in March 2015, up from 10.7% in September 2014.

500 years

The number of years it would take for India to become a Muslim-majority nation, based on past data. India added about 125 million Muslims between 1961 and 2011 and the number of Hindus added was 4.8 times of that. According to the latest data released by the Indian government on population by religion, Islam was the fastest growing at 24.6% between 2001 and 2011, while the growth rate for Hindus was 16.8%. Certain right-wingers have warned that the Hindu majority in the country could be threatened with the rise of the minority religions. According to a Pew Research report, Muslim population will grow twice as fast as the total world population between 2010 and 2050 and Muslims are likely to overtake Christians as the world’s largest religious group.

2,500 crore

Yoga guru Baba Ramdev’s company has higher turnover than companies like Jyothy Laboratories and Emami. A research report by CLSA says Patanjali Ayurved reported a profit of 300 crore on a turnover of 2,500. If compared with listed fast moving consumer goods firms, Baba Ramdev’s firm would be valued at 14,000 crore. The 10-year-old firm sells products across a range of categories including nutrition and supplements, grocery, medicinal items, home care, personal care and healthcare. The company, which hardly does any promoting or marketing, is planning to launch ready-to-eat products at prices 10-14% cheaper than multinational brands in India.

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Published: 28 Aug 2015, 10:58 AM IST
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