Rs39,000 crore
What is it? The amount by which Reliance Communications’ (RCom) debt would be reduced, from Rs45,000 crore as of October, according to a debt resolution plan unveiled by the company on Tuesday.
Why is it important? The company says this plan would not involve any write-offs for lenders and bondholders nor convert debt to equity. It added that it has exited the strategic debt restructuring process, which would have allowed lenders to takeover by converting their loans to equity. RCom had earlier tried to reduce its debt by merging its wireless business with Aircel and selling a majority stake in its tower unit to Brookfield Infrastructure, both of which fell through.
Tell me more: After this plan did not take off, RCom presented another debt repayment proposal in October, which included raising Rs27,000 crore by sale of assets and a reduction of debt by Rs7,000 crore when lenders convert this into equity for a 51% stake. They were to convert loans into equity by 28 December.
3
What is it? The number of Pakistani soldiers killed by the Indian Army in cross-border firing across the Line of Control (LoC) on Monday night.
Why is it important? This comes a few days after Pakistani troops killed an Indian Army Major and three soldiers in Jammu and Kashmir’s Rajouri district. India says Pakistan has violated the ceasefire along the International Border and the LoC more than 720 times in 2017, the highest in seven years, killing 29 people, as of data till October. On the other hand, Pakistan claims its rival has fired across the LoC over 1,300 times, killing at least 54 civilians.
Tell me more: Despite a 2003 ceasefire agreement between India and Pakistan, both countries keep engaging in cross-border shelling.
2.5 million
What is it? The reported annual sales target of Maruti Suzuki, in terms of number of vehicles sold, by 2025.
Why is it important? This is the second time that India’s number one car manufacturer is increasing its sales target. The first one intends to achieve a goal of 2 million in unit sales by 2020, which it is likely to achieve a year before schedule. This suggests that Maruti Suzuki, which accounts for nearly half the cars sold in India, is looking to continue its domination over the Indian auto sector and comes at a time when the country has decided to move to the world’s toughest emission standards by 2020 and there is a major push to transition to an all-electric fleet by 2030.
Tell me more: The carmaker, whose cash reserves have more than doubled from Rs13,000 crore two years ago to Rs30,500 crore, sold 1.5 million units in 2016-17.
20%
What is it? The combined hike in water and sewer charges in New Delhi approved by the Delhi Jal Board for household connections consuming more than 20,000 litres in a month, beginning 1 February.
Why is it important? This is only the second time since coming to power in 2015 that the Aam Aadmi Party government has effected an increase in water tariffs, with the first time being in August 2015. It swept into power on the promise of free basic water, which it implemented, waiving off all charges for households consuming less than 20,000 litres a month. The provision of free basic water will continue.
Tell me more: The Delhi Jal Board reportedly suffered a revenue loss of Rs516 crore in 2016-17 and Rs209 crore in 2015-16.
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