News In Numbers: India among top 5 military spenders in the world2 min read . Updated: 03 May 2018, 09:56 AM IST
In other news, Indigo's net profit in the fourth quarter of 2017-18, down 73%
What is it? India’s defence spending in 2017, an increase of 5.5% from a year ago.
Why is it important? India has now leapfrogged France to join the US and China to be one of the top five military spenders in the world, and is the largest importer of weapons globally. However, nearly two-thirds of its budget goes toward salaries and pensions of around 1.4 million personnel and over 2 million retired army personnel, while military modernisation accounts for just 14%.
Tell me more: The US remains the biggest military spender, spending more on defence than the next seven countries combined. The largest absolute increase in military spending was by China, while Russia showing the largest decline.
What is it? Indigo’s net profit in the fourth quarter of 2017-18, down 73% from the same quarter a year ago, on a 20% increase in revenues.
Why is it important? The country’s largest airline, run by InterGlobe Aviation, missed analyst profit estimates because of higher fuel expenses, a foreign exchange loss of Rs92.5 crore (as against Rs160 crore gain in the corresponding quarter a year ago), aircraft groundings and lower airfares. In addition, it also received criticism for the way it handled some of the unpleasant incidents between its staff and passengers.
Tell me more: On 27 April, Aditya Ghosh said he was stepping down as president of InterGlobe after 10 years at the helm.
What is it? The shortfall in judges in the Supreme Court, as compared to the maximum permissible. Against the sanctioned strength of 31 judges, excluding the Chief Justice of India, the apex court currently has 25 judges.
Why is it important? Yesterday, the next step in the decision to increase that strength to 26 was “deferred" by a panel of SC judges. The five-member SC Collegium met, but did not decide on Uttarakhand Chief Justice KM Joseph, whose name it initially recommended on 10 January, only to be returned by the government.
Tell me more: Another six SC judges are due to retire in 2018, beginning with Justice RK Agrawal on 4 May.
What is it? HCL Technologies’ net profit in the three months ended March 2018, a fall of 4.4% on an annual basis and a 1.5% increase from the December quarter.
Why is it important? Its profits were in line with analyst estimates. Based on the guidance provided by HCL and Wipro, Mint’s analysis shows the former is likely to surpass the latter to become India’s third-largest software services provider in the April-June quarter of 2018-19, which would be the first such change in the country’s $167-billion information technology outsourcing industry in six years.
Tell me more: Cognizant Technology Solutions overtook Infosys in the April-June quarter of 2012-13 to become India’s second largest software services firm.
What is it? The number of final appearances by Liverpool in the UEFA Champions League since 1992-93, when the format of the premier competition in Europe club football changed.
Why is it important? Last night, the English club booked its third visit to the finals, after coming through 7-6 against Roma, giving it an opportunity to add another chapter in its storied history. In its previous two visits, it won in 2004-05 but lost in 2006-07. In the finals, to be played in Kiev on 26 May, Liverpool will face Real Madrid.
Tell me more: This will be Real Madrid’s seventh appearance in the finals of the Champions League since 1992-93. The Spanish club has won all six of its previous finals.
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