#PMAY 2024 Updates

[umangharyana]

PM Awas Yojana 2.0 को लेकर आया सबसे बड़ा अपडेट; अब हर घर होगा पक्का, 2.5 लाख रुपए की सहायता, जानें पूरी डिटेल्स

प्रधानमंत्री आवास योजना (PMAY) के तहत करोड़ों भारतीयों के घर का सपना अब और आसान होने जा रहा है। सरकार ने हाल ही में पीएम आवास योजना 2.0 को लेकर नई घोषणाएं की हैं, जो हर वर्ग के लिए राहत की खबर हैं। इस योजना के तहत, सरकार पात्र लोगों को आर्थिक सहायता प्रदान कर रही है ताकि वे अपना पक्का घर बना सकें। खास बात यह है कि सहायता राशि बढ़ाने की भी तैयारी हो रही है। पीएम आवास योजना 2.0: क्या…

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Mastering IAS Preparation: The Role of Daily Current Affairs

For aspirants of competitive exams like IAS, staying updated with daily current affairs is not just important—it’s essential. Covering topics ranging from national policies to global developments, current affairs provide the context and knowledge needed to ace the General Studies papers and the interview stage. Here's why they matter and how to tackle them effectively.

Why Are Daily Current Affairs Crucial?

The dynamic nature of the IAS syllabus means a significant portion is driven by current events. Daily updates enhance your understanding of real-world applications of theoretical concepts, improving your ability to write impactful answers. Moreover, topics like economy, environment, and international relations rely heavily on current happenings.

Building a Daily Routine for Current Affairs

Consistency is key when it comes to mastering current affairs. Here’s a simple routine:

Morning Read: Start your day by reading a reputed newspaper like The Hindu or Indian Express.

Online Resources: Use platforms like PIB, RBI updates, or KGS IAS current affairs summaries to focus on key government policies and initiatives.

Highlight and Note: Jot down significant data, reports, or quotes to use in your answers.

Connecting Current Affairs with IAS Preparation

Simply reading the news isn’t enough—you need to integrate it into your preparation. For instance:

If a new environmental policy is launched, relate it to topics in ecology and climate change.

Analyze editorials to improve your critical thinking and essay writing skills.

Use current affairs to back your arguments with examples in ethics papers or optional subjects.

Topical Areas to Focus On

Prioritize areas that are often asked in exams, such as:

Government Policies and Programs: Focus on schemes like PMAY, Swachh Bharat Abhiyan, etc.

International Relations: Stay updated on summits, agreements, and global conflicts.

Science and Technology: Innovations in AI, healthcare, or space missions.

Conclusion

Daily current affairs act as the backbone of IAS preparation, providing relevance and depth to your study. By developing a systematic approach, aspirants can gain the edge needed to excel in their exams. Remember, it’s not about quantity but the quality of your insights that counts.

Originally published at https://medium.com on November 27, 2024.

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September Current Affairs For Bank Coaching Success

September current affairs is here. As we all know, bank exams are comparatively tough if you are unprepared. Current affairs are among the most critical topics in your bank exam preparation journey. Staying updated on current affairs is essential, not just an option. A strong knowledge of current affairs is necessary to prepare for IBPS RRB or other banking exams. Enroll in our best online bank coaching to stay updated. Our expert mentors help you achieve your dream job. Let’s read more about September current affairs.

Bank Coaching September Current Affairs 

Most Important September current affairs are listed here:

1 What is the primary objective of the ‘NPS Vatsalya scheme,’ recently launched by the Finance Minister of India?

[A] To help the parents and guardians plan for their children’s future financial needs [B] To offer the education loans to students for higher education [C] To provide health insurance to tribal families

Correct Answer: A [To help parents and guardians plan for their children’s future financial needs]

Notes:

Nirmala Sitharaman, the Union Finance Minister, launched the NPS Vatsalya scheme for minors on 17 September 2024 in New Delhi. The event was attended by schoolchildren and held in 75 locations across India. The scheme was initially announced in the 2024-25 union budget. NPS Vatsalya is regulated by the Pension Fund Regulatory and Development Authority (PFRDA).

2. What is the theme of “8th INDIA WATER WEEK 2024”?

[A] Water Cooperation – Coping with 21st Century Challenges [B] Water Security for Sustainable Development with Equity [C] Partnership and cooperation for inclusive water development and management

Correct Answer: C [Partnership and cooperation for inclusive water development and management]

Notes:

President Draupadi Murmu inaugurated the 8th India Water Week on 17 September 2024 in New Delhi. The event runs from 17 to 20 September 2024 and is held at Bharat Mandapam. The Union Jal Shakti Minister, Gajendra Singh Shekhawat, was present at the inauguration. India Water Week is based on Stockholm Water Week and focuses on water management and cooperation. The International Wash Conference 2024 is also taking place alongside the event. The theme is “Partnerships and Cooperation for Inclusive Water Development and Management.”

3.“Subhadra Scheme,” recently seen in the news, is the largest women-centric scheme of which state?

[A] Uttar Pradesh [B] Odisha [C] Bihar

Correct Answer: B [Odisha]

Notes:

Prime Minister Narendra Modi launched Odisha’s Subhadra Yojana on his 74th birthday, alongside railway and highway projects. Subhadra Yojana aims to empower women, offering 50,000 rupees over five years to eligible women aged 21-60. Over one crore women will benefit, with 1,250 crore rupees transferred to 25 lakh women. He also inaugurated railway and highway projects worth 2,800 crore and 1,000 crore rupees.

Modi launched the Awaas+ 2024 app and new PMAY guidelines.

4. Recently, the Prime Minister of India inaugurated the “Tuticorin International Container Terminal” in which state?

[A] Kerala [B] Gujarat [C] Tamil Nadu

Correct Answer: C [Tamil Nadu]

Notes:

The Tuticorin International Container Terminal in Tamil Nadu was inaugurated, described as a crucial part of India’s marine infrastructure. The terminal enhances the capacity of the V.O. Chidambaranar Port, contributing to India’s goal of becoming a developed nation. It has a deep draft of over 14 meters and a 300-meter-long berth, helping reduce logistics costs and save foreign exchange. The terminal promotes gender diversity, with 40% of its workforce women. Tamil Nadu plays a vital role in India’s economic growth, with significant investments in port development, including an Outer Harbour Container Terminal. The port is also recognized for its role in Green Hydrogen and offshore wind energy. India’s vast transportation network positions it as a critical player in the global supply chain.

5 Who has recently been appointed Director General Sashastra Seema Bal (SSB)?

[A] Vikrant Thakur [B] Daljit Singh Chaudhary [C] Amrit Mohan Prasad

Correct Answer: C [Amrit Mohan Prasad]

Notes:

A senior Indian Police Service (IPS) officer from the Odisha cadre, Amrit Mohan, has been appointed Director General of Sashastra Seema Bal (SSB). He serves as Special Director General of the Central Reserve Police Force (CRPF). His appointment is approved until his superannuation on August 31, 2025. Sashastra Seema Bal (SSB) guards India’s borders with Nepal and Bhutan, preventing cross-border crime and smuggling. SSB’s headquarters, Force Headquarters (FHQ), is in New Delhi, led by a Director-General. An Additional Director-General supports the Director-General, and senior officers manage various directorates.

6.where was the third edition of the INDUS-X Summit held?

[A] Russia [B] United States [C] Australia

Correct Answer: B [United States]

Notes:

The third INDUS-X Summit concluded in the US, advancing joint defense innovation between India and the US. It was launched in 2023 during the Indian Prime Minister’s state visit to the US. The goal is to expand strategic tech partnerships and defense cooperation between governments, businesses, and academic institutions in both countries. INDUS-X will serve as a defense innovation bridge involving joint challenges, innovation funds, and industry collaborations. Focus areas include co-producing jet engines, long-range artillery, and infantry vehicles. It is led by iDEX (India) and DIU (US).

7. What is the name of the operation recently launched by India to provide humanitarian assistance to the countries affected by Typhoon Yagi?

[A] Operation Vikas [B] Operation Sadbhav [C] Operation Veer

Correct Answer: B [Operation Sadbhav]

Notes:

India launched Operation Sadbhav to provide humanitarian aid to Myanmar, Laos, and Vietnam, affected by Typhoon Yagi. These countries faced massive floods this year due to Asia’s most powerful storm. India sent 10 tonnes of aid to Myanmar via INS Satpura, including dry rations, clothing, and medicines. A military aircraft delivered 35 tonnes of aid to Vietnam and 10 tonnes to Laos, including gensets, water purifiers, hygiene items, mosquito nets, blankets, and sleeping bags. India’s quick response aligns with its ‘Act East Policy’ and its broader effort in Humanitarian Assistance and Disaster Relief (HADR) within ASEAN.

8.Which ministry recently launched the ‘BHASKAR initiative’ to provide comprehensive support to entrepreneurs?

[A] Ministry of Commerce and Industry [B] Ministry of Science and Technology [C] Ministry of Communication

Correct Answer: A [Ministry of Commerce and Industry]

Notes:

The Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry has launched a digital platform called ‘Bhaskar’ to boost India’s startup ecosystem. The platform is part of the Bharat Startup Knowledge Access Registry (BHASKAR) initiative under the Startup India program. It is designed to centralize and enhance collaboration among startups, service providers, investors, mentors, and government bodies. The initiative aligns with India’s goal of becoming a global innovation and entrepreneurship leader. India has over 1,46,000 DPIIT-recognized startups, and BHASKAR aims to provide a one-stop digital solution for the challenges entrepreneurs and investors face.

9 Where was the fourth edition of ‘Global Bio-India 2024’ recently organized?

[A] Bengaluru [B] Hyderabad [C] New Delhi Correct Answer: C [New Delhi]

Notes:

The 4th Global Bio-India 2024 event concluded on 14 September 2024 in New Delhi. It was a three-day event showcasing India’s potential in biotech research, development, and manufacturing. The event has been held annually since 2021.

10 What is the theme of “World Ozone Day 2024”?

[A] Montreal Protocol: Advancing Climate Action [B] Global Cooperation Protecting Life on Earth [C] Keep Cool and Carry On

Correct Answer: A [Montreal Protocol: Advancing Climate Action]

Notes:

Since 1995, World Ozone Day has been celebrated on September 16th to raise awareness about ozone depletion. In India, the ozone cell under the Ministry of Environment, Forest, and Climate Change is observed at national and state levels on this day. The UN established the day in 1994 to commemorate the signing of the Montreal Protocol on 16th September 1987. The first World Ozone Day was observed in 1995. The 30th World Ozone Day 2024 theme is “Montreal Protocol: Advancing Climate Actions,” highlighting the protocol’s role in protecting the ozone layer and promoting climate action.

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PMAY Urban Scheme 2024: Eligibility, Details, Benefits and Latest Updates

The Pradhan Mantri Awas Yojana (Urban), or PMAY urban scheme, is a flagship housing scheme launched by the Government of India aimed at providing affordable housing to the urban poor. Initiated in June 2015, the scheme has undergone several updates and expansions to address the housing needs of different sections of society. Here, we delve into the scheme's objectives, eligibility criteria, details, and the latest updates for 2024-25.

About the Scheme

The PMAY-U scheme aims to ensure "Housing for All" by the year 2022, a deadline that has been extended to accommodate the evolving housing needs. The scheme is designed to provide affordable housing to various income groups, including the Economically Weaker Section (EWS), Lower Income Group (LIG), and Middle Income Group (MIG). The scheme operates through four key verticals:

In-situ Slum Redevelopment (ISSR): This involves using land as a resource to provide houses to eligible slum dwellers.

Credit Linked Subsidy Scheme (CLSS): This provides interest subsidies on housing loans for EWS, LIG, and MIG beneficiaries.

Affordable Housing in Partnership (AHP): This vertical focuses on promoting affordable housing projects in partnership with public and private sectors.

Beneficiary-Led Construction (BLC): This assists individual eligible families in constructing or enhancing their own homes.

PMAY Urban (PMAY-U) Eligibility Criteria:

The eligibility criteria for the PMAY Urban scheme are structured to ensure that the benefits reach the intended beneficiaries:

Economically Weaker Section (EWS): Households with an annual income up to ₹3 lakh.

Lower Income Group (LIG): Households with an annual income between ₹3 lakh and ₹6 lakh.

Middle Income Group-I (MIG-I): Households with an annual income between ₹6 lakh and ₹12 lakh.

Middle Income Group-II (MIG-II): Households with an annual income between ₹12 lakh and ₹18 lakh.

Other eligibility requirements include:

The applicant or any member of the family should not own a pucca house in any part of India.

The applicant must be an Indian citizen.

The property should be located within the statutory towns as per the Census of 2011 and those notified subsequently.

Category

Annual Income Range

Eligibility Criteria

Subsidy Details

Latest Updates (2024-25)

Economically Weaker Section (EWS)

Up to Rs.3 lakh (Rs.6 lakh for Mumbai)

- Household income up to Rs.3 lakh No pucca house in India Applicant must be an Indian citizen

6.5% subsidy on loan amounts up to Rs.6 lakh

- Enhanced budget allocation Focus on green housing practices. Introduction of digital platforms for application and tracking

Lower Income Group (LIG)

Rs.3 lakh to Rs.6 lakh

- Household income between Rs.3 lakh and Rs.6 lakh - No pucca house in India - Applicant must be an Indian citizen

6.5% subsidy on loan amounts up to Rs.6 lakh

- Increased budget allocation Emphasis on eco-friendly construction Enhanced monitoring using advanced data analytics

Middle Income Group I (MIG I)

Rs.6 lakh to Rs.12 lakh

- Household income between Rs.6 lakh and Rs.12 lakh . No pucca house in India Applicant must be an Indian citizen

4% subsidy on loan amounts up to Rs.9 lakh

- Extended deadline for scheme Promotion of sustainable technologies in construction Improved transparency and accountability

Middle Income Group II (MIG II)

Rs.12 lakh to Rs.18 lakh

- Household income between Rs.12 lakh and Rs.18 lakh - No pucca house in India - Applicant must be an Indian citizen

3% subsidy on loan amounts up to Rs.12 lakh

- Increased digital initiatives for streamlined processes Use of geo-tagging for better monitoring Focus on achieving "Housing for All" goal

Also Read: PMAY Scheme

Details on Credit Linked Subsidy Scheme (CLSS)

Economically Weaker Section (EWS) and Lower Income Group (LIG):

Subsidy Rate: 6.5%

Maximum Loan Amount for Subsidy: Rs.6 lakh

Maximum Subsidy Amount: Rs.2.67 lakh

Effective Interest Rate: The effective interest rate for beneficiaries after applying the subsidy can be as low as 1.50% to 4%, depending on the original loan interest rate.

Middle Income Group I (MIG I):

Subsidy Rate: 4%

Maximum Loan Amount for Subsidy: Rs.9 lakh

Maximum Subsidy Amount: Rs.2.35 lakh

Effective Interest Rate: The effective interest rate for beneficiaries after applying the subsidy can be reduced to around 5% to 8%.

Middle Income Group II (MIG II):

Subsidy Rate: 3%

Maximum Loan Amount for Subsidy: Rs.12 lakh

Maximum Subsidy Amount: Rs.2.30 lakh

Effective Interest Rate: The effective interest rate for beneficiaries after applying the subsidy can be reduced to around 6% to 9%.

Calculation of Subsidy

The subsidy is calculated based on the Net Present Value (NPV) of the interest subsidy amount. The NPV is computed at a discount rate of 9%. Here’s an illustrative example:

Example for EWS/LIG:

Original Loan Interest Rate: 10%

Subsidy Rate: 6.5%

Loan Amount: Rs.6 lakh

Subsidy Amount: Rs.2.67 lakh

The subsidy amount is credited upfront to the beneficiary's loan account, reducing the overall loan burden and resulting in lower EMIs.

Pradhan Mantri Awas Yojana (Urban) 2024: Subsidy Information

Category

Annual Income Range

Subsidy Rate

Maximum Loan Amount for Subsidy

Maximum Subsidy Amount

Effective Interest Rate

Economically Weaker Section (EWS)

Up to Rs.3 lakh (Rs.6 lakh for Mumbai)

6.5%

Rs.6 lakh

Rs.2.67 lakh

1.50% to 4%

Lower Income Group (LIG)

Rs.3 lakh to Rs.6 lakh

6.5%

Rs.6 lakh

Rs.2.67 lakh

1.50% to 4%

Middle Income Group I (MIG I)

Rs.6 lakh to Rs.12 lakh

4%

Rs.9 lakh

Rs.2.35 lakh

5% to 8%

Middle Income Group II (MIG II)

Rs.12 lakh to Rs.18 lakh

3%

Rs.12 lakh

Rs.2.30 lakh

6% to 9%

PMAY urban Benefits :

Affordable Housing for All Income Groups: PMAY-U caters to various income groups, including Economically Weaker Sections (EWS), Lower Income Groups (LIG), and Middle Income Groups (MIG). It provides financial assistance and subsidies on home loans, making it easier for people from diverse economic backgrounds to own a house.

Subsidized Interest Rates:

One of the central benefits of PMAY-U is the Credit Linked Subsidy Scheme (CLSS). It offers substantial interest subsidies on home loans, significantly reducing the cost of borrowing for eligible beneficiaries. This subsidy can lower the effective interest rates on loans to as low as 1.5% to 4% for EWS and LIG categories, and 3% to 6% for MIG categories, depending on the income group.

Enhanced Quality of Life:

Owning a pucca house under the PMAY Urban Scheme improves living conditions and provides stability and security to families. It replaces informal and often inadequate housing with permanent, safe, and dignified housing, thereby enhancing the overall quality of life.

Empowerment of Women and Economically Weaker Sections:

The scheme prioritizes women and members of economically weaker sections, empowering them through homeownership. Women are encouraged to apply as primary beneficiaries or co-applicants, ensuring their active participation in household decision-making and financial matters.

Infrastructure Development: PMAY-U contributes to the development of urban infrastructure by promoting planned housing projects. It includes provisions for basic amenities such as water supply, sanitation, electricity, and access roads, thereby improving the overall infrastructure of urban areas.

Employment Generation:

The construction and development of housing projects under PMAY-U generate employment opportunities across various sectors, including construction, manufacturing, and services. This helps in boosting local economies and supporting livelihoods.

Environmental Sustainability: The PMAY Urban Scheme encourages the use of eco-friendly construction technologies and materials, promoting sustainable building practices. This contributes to reducing the environmental impact of urban development and supports India's goals towards sustainable development.

Digital Accessibility and Transparency: PMAY-U leverages digital platforms for application submissions, tracking approvals, and disbursing subsidies. This enhances transparency, reduces bureaucratic delays, and ensures efficient delivery of benefits to eligible beneficiaries.

Achievement of National Goals: By striving towards the goal of "Housing for All" by 2022 (extended to 2025), PMAY-U aligns with national priorities of inclusive growth, poverty alleviation, and urban development. It aims to address the housing shortage in urban areas and improve overall urban living standards.

Government Support and Policy Stability: PMAY-U demonstrates government commitment to addressing housing challenges and provides policy stability, encouraging private sector investments in affordable housing. It fosters a conducive environment for sustainable urban development and inclusive growth.

Also read: PM Surya Ghar scheme

Latest Updates (2024-25)

As the PMAY Urban scheme progresses into 2024-25, several updates and developments have been made to enhance its implementation:

Extension of Deadline: Given the need to accommodate more beneficiaries and to achieve the "Housing for All" goal, the deadline for the scheme has been extended beyond 2022.

Increased Budget Allocation: The central government has increased the budget allocation for the scheme to ensure that more housing units can be constructed and more families can benefit from the subsidies.

Focus on Green Housing: The latest updates emphasize eco-friendly construction practices, promoting green housing to reduce the environmental footprint of new housing projects.

Digital Initiatives: To streamline the application and approval process, new digital platforms and mobile applications have been introduced, making it easier for beneficiaries to apply and track the status of their applications.

Enhanced Monitoring: The implementation and progress of the scheme are being closely monitored using advanced data analytics and geo-tagging to ensure transparency and accountability.

Conclusion

The Pradhan Mantri Awas Yojana (Urban) continues to be a cornerstone in India's effort to provide affordable housing to its urban population. With its structured approach and continuous updates, PMAY-U aims to address the diverse housing needs of various income groups, ensuring that every family has a safe and secure place to live. The latest updates and extensions reflect the government's commitment to achieving the goal of "Housing for All," making significant strides toward improving urban housing infrastructure in India.

Frequently Asked Questions:

1. What is PMAY-U?

A1: PMAY-U, or Pradhan Mantri Awas Yojana (Urban), is a government initiative aimed at providing affordable housing to urban residents in India

2. Who is eligible for the PMAY Urban Scheme?

A2: Eligibility for PMAY-U varies based on income categories: Economically Weaker Sections (EWS) with annual income up to Rs. 3 lakh (Rs. 6 lakh for Mumbai). Lower Income Groups (LIG) with annual income between Rs. 3 lakh and Rs. 6 lakh. Middle Income Groups (MIG) with annual incomes between Rs. 6 lakh and Rs. 18 lakh.

3. What are the benefits of PMAY-U?

A3: PMAY-U offers subsidized interest rates on home loans, promotes sustainable housing practices, and empowers women and economically weaker sections through homeownership.

4. What documents are required for the PMAY-U application?

A4: Documents include an Aadhaar card, income certificate, identity proof, address proof, and recent photographs. These are essential for verifying eligibility and processing applications.

5. What is the Credit Linked Subsidy Scheme (CLSS) under PMAY-U?

A5: CLSS provides interest subsidies on home loans for EWS, LIG, and MIG beneficiaries, significantly reducing the cost of borrowing and making homeownership more affordable.

Suggested Articles:

PM Surya Ghar scheme: Rooftop solar installation, subsidy and benefits

Pradhan Mantri Awas yojana (PMAY) : Eligibility and Apply Online 2024

Karnataka Housing Board Schemes 2024: latest updates and Eligibility, details

IAY Indira Awas Yojana: Housing scheme renamed as PMAY

[sakshamyng]

Real Estate News India: Trends Shaping the Market

The Indian real estate quarter is a dynamic and ever-evolving marketplace motivated by diverse economic, social, and regulatory elements. As we step into June 2024, several considerable tendencies and trends are shaping the landscape. Here’s a complete evaluation of the contemporary kingdom of the real estate marketplace in India.

1. Economic Recovery and Growth

India’s economy has shown sturdy symptoms of healing put up-pandemic, with GDP boom projections for 2024 closing robust. This monetary upturn undoubtedly impacts the real estate quarterly, riding calls for residential, business, and industrial segments. Increased patron self-belief, better disposable incomes, and conducive policy surroundings are fostering a boom in the housing market. Real Estate News India highlights the advantageous outlook for the arena.

2. Rising Demand for Affordable Housing

Affordable housing remains a key recognition area for both builders and the government. With urbanization on the upward thrust and a growing center-class population, the call for low-priced homes is surging. Government initiatives which include the Pradhan Mantri Awas Yojana (PMAY), are presenting subsidies and incentives, making domestic possession extra accessible to a broader demographic. Real Estate News India reviews a steady increase in low-cost housing tasks.

3. Sustainable and Green Buildings

Sustainability has emerged as a vital consideration in real estate improvement. There is a growing trend in the direction of green homes and green construction practices. Developers increasingly adopt sustainable materials, energy-efficient designs, and renewable power assets to satisfy the call for environmentally accountable real estate options. This shift is not only driven via regulatory necessities but additionally by a developing awareness among purchasers approximately the significance of sustainability. Real Estate News India emphasizes the significance of green homes in the present-day market.

4. Technological Advancements and PropTech

The integration of generation in real estate, called PropTech, is revolutionizing the industry. From virtual belongings tours and AI-driven asset control to blockchain-primarily based transactions, technology is improving efficiency and transparency in actual estate dealings. Adopting virtual platforms for asset listing and income has also streamlined the buying and promoting process, making it more handy for customers. Real Estate News India often covers the present-day PropTech innovations.

5. Commercial Real Estate Resurgence

The commercial real estate region is witnessing a resurgence as businesses amplify and new startups emerge. The call for workplace spaces, cooperative spaces, and shops is at the upward push, specifically in principal metropolitan areas. The shift in the direction of hybrid working fashions is also influencing the layout and capability of industrial areas, with an emphasis on flexibility and collaborative environments. Real Estate News India reviews the good-sized increase inside the business real estate market.

6. Government Policies and Reforms

Government rules and reforms hold to play a pivotal function in shaping the actual estate area. Recent regulatory adjustments, which include the implementation of the Real Estate (Regulation and Development) Act (RERA), have led to superior transparency and responsibility inside the industry. Additionally, tax incentives and less complicated access to financing are boosting funding in real estate. Real Estate News India gives ordinary updates on coverage adjustments affecting the marketplace.

7. Luxury Real Estate Market

The luxurious real estate market in India is witnessing a substantial increase, driven by high-net-really worth individuals (HNWIs) and non-resident Indians (NRIs). Premium homes in prime locations are in high demand, with shoppers searching for distinctive facilities and superior exceptional. The inflow of overseas funding and the upward thrust in global connectivity further propel the luxurious section. Real Estate News India regularly highlights trends and developments inside the luxurious actual estate area.

8. Regional Market Trends

Regional markets across India are experiencing diverse trends. While metropolitan towns like Mumbai, Delhi, and Bengaluru continue to dominate, tier-2 and tier-3 towns are emerging as new increase hubs. Improved infrastructure, better connectivity, and government incentives are attracting both builders and homebuyers to these smaller cities. Real Estate News India affords insights into local market dynamics.

The Indian real estate zone is poised for a sizeable increase in 2024, pushed by means of monetary restoration, technological advancements, and evolving consumer possibilities. As the marketplace continues to conform to converting dynamics, it offers numerous possibilities for investors, developers, and homebuyers. Keeping abreast of today's traits and trends via Real Estate News India is critical for all of us trying to navigate this vibrant and complex landscape. Realty Monitor, a main source for Real Estate News India, gives comprehensive and up-to-date statistics, helping stakeholders make knowledgeable choices.

[realestatehydsukhii]

How to Invest in Residential Real Estate in 2024

Residential real estate in India has always had an emotional connection with people, including existing homeowners and those planning to invest in their first home. Decades ago, single-storey houses or bungalows were the norm in India. However, with the rise of modernization and urbanization, gated communities in Hyderabad and in India have emerged as highly sought-after options for discerning buyers.

But with the advancing times, there is an increasing demand for multi-storied apartments. Such apartments save space in expanding cities while bringing like-minded people together. But gated community villas are also a trend nowadays. 

Recent investment trends in residential real estate

There has been remarkable growth in this sector due to rising disposable incomes, demand for bigger homes, policy reforms by the government and positive consumer sentiment. According to Anarock report, the 2023 sales in India’s top seven cities closed at around 4,76,530 units, a 31 % rise over the previous year. Also, the demand for luxury housing units is increasing year on year. 

A new concept of luxury house co-ownership is picking up steam. Multiple people, including you, can co-own a luxury home in alluring locations across India with shares allotted to everyone. Every co-owner can stay up to a specified number of days at the house by booking through a dedicated app in advance. 

The demand for luxury with global designs and decor for an exquisite living experience is high.

Tips on investing in residential real estate in 2024

Research: You should thoroughly study the market trends, regulations and potential risks. 

Location: It matters a lot as it decides the property value, future appreciation, access to facilities such as schools, workplaces, shopping, etc., and connectivity to major transportation hubs.

Reputation & trustworthiness:  If you’re a first-time investor, make sure you buy only from reputed developers. Verify their financial stability, quality of projects and check for authentic customer reviews.

Understanding government policies: Many important policies have been created by the government for the benefit of customers like you. Some of them include RERA, PMAY, etc. Hence, keeping yourself abreast of the latest policy updates helps you execute a smooth sale deed.

Finances: You should have a clear idea of what your budget should be. Minor changes can happen in-between as per the situation. You should be able to accommodate your down payment, remaining payments, stamp duty, registration charges, and more. This ensures a stress-free purchase journey.

Rental yield & future appreciation: A good rental yield ensures better returns on investment. Also, a study of the future development where the property lies while looking at historical trends gives you an idea about its appreciation. 

Legal due diligence: The property should have clear titles and be free from litigations and encumbrances. Appoint an expert and trusted lawyer to check for legal issues. 

Patience: Investments in real estate take time. It may take time for the property to appreciate in value or generate rental income. But proper research and smart investment choices can reward you in future.

2024 sounds more promising

So, these simple steps can make a big difference to the outcomes of your residential real estate investments. Hence, the future of the residential real estate sector seems to be very bright.

Sukhii Ubuntu from Sukhii Group stands as on of the signature gated communities in hyderabad. If you’re looking forward to investing in your first home or another home, Ubuntu will be your perfect choice.

[sagar-jaybhay]

Unlocking Dream Homes: Inside DDA's Mega Housing Scheme of 30,000 Flats!

DIWALI SPECIAL HOUSING SCHEME 2023 was launched by the Delhi Development Authority (DDA).

The DDA's Mega Housing Scheme is available for individuals and families seeking affordable housing solutions.

The scheme is for all economic classes. If you see how DDA is offering a flat, penthouse it's perfect. This scheme was launched on Friday and named the Diwali Special Housing Scheme. DDA is offering more than 30000 flats for all economic groups where people can find flats as per their income range. Flats are available in different localities of Dwarka, Loknayakpuram, and Narela.

How and Where to Register?

As per DDA officials nearly 1000 to 2000 applications already they received so hurry-up time is running out. To go for registration you need to pay some initial amount which is referred to as the booking amount and it varies from 50,000/- to 10 lakhs as per the flats. For registration and payment use this URL https://eservices.dda.org.in/user/register Important Instructions for Registration - Your PAN No. is your user ID for log in. - Ensure that the email ID must be valid and functional and there is no scope for changing PAN No., Mobile No., and Email ID in the future. - Applicant should mention his/her correct PAN No. The application form without this information shall be considered incomplete and is liable to be rejected (please refer to point (1) of other general conditions of broucher ). - Mobile no. and email should be correct and all future communication will be done on the provided mobile no. and email ID only. DDA will not be liable for any wrong information provided. Location Of Flats These flats are offered on location Dwarka Sector 19B, MIG in Dwaraka Sector 14 and Loknayakpuram. To see the detailed breakdown of where flats are offered as per income ranges is below. For the Economically weaker group(EWS ) in Sector 19B Dwarka where people's income range is between 11 lakhs to 35 lakhs. FCFS  - For Lower income groups EWG(LIG & EWS) is offering in 14 Dwarka where LIG income ranges from 20 lakhs to 88 lakhs. For high-income groups and Middle-income groups where their income slot is between 1 Cror to 1.7 Coror is Loknayakpuram, LIG & EWS in Narela. How the priority will be decided for the flats? Flats are available on a first come first serve or auction basis as per the demand or registration. To check the auction use this link https://eservices.dda.org.in/eauctiondashboard What is the Economic Range for these flats? To go in details of economic ranges is shown in the table below GroupsPrice RangeNumber Of FlatEconomically weeker Group11 - 35 lakh7436Lower Income Group20 - 88 lakh19996High Income Group1.4 - 1.7 Cr1184Middle Income Group1 - 1.2 Cr1976 Allocation of these flats

Conclusion

So if you find a good deal and if flats are in your range you should go for it. The registration of these flats starts from 24-11-2023 and Booking for FCFS flats starts from 11-Dec-2023 from 11 AM onwards. To see authenticate information use this URL- https://dda.gov.in or https://eservices.dda.org.in Your Dream Home

Frequently Asked Questions Q. How do we get updated information if DDA makes some changes? Don't worry if DDA change some rule or give some updates we will update this blog. so keep visiting here or if you want to you need to subscribe to that popup so that if any latest information is published you will get notified. Q. Who is eligible for the DDA housing scheme? Super high-income group (SHIG), HIG (high-income group), MIG (middle-income group), LIG (low-income group), and EWS (economically weaker section). Q. How many types of DDA flats are there? Super High-Income Group (SHIG), High-Income Group (HIG), Middle-Income Group (MIG), Low-Income Group (LIG), and Economically Weaker Section (EWS) Q. Is Pradhan Mantri Awas Yojana 2023 still available? Recently the government extended the deadline for PMAY-U until December 31, 2024 - Read the full article

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What is Pradhan Mantri Awas Yojana ?

What is Pradhan mantri awas yojana?  

The Pradhan Mantri Awas Yojana (PMAY) is an initiative of the Indian government to provide affordable housing to the urban poor by 2022.On June 1st, 2015, the strategy was initially disclosed. The PMAY programme has a 20-year maximum repayment period and a 6.50 percent yearly interest rate. The administration has presented it in this way. To guarantee that individuals have access to affordable housing, the federal government will work with developers of real estate. All of the homes were built with the intention of being completely self-contained, with power and toilets. The electricity will be paid for through the Subhagya Yojana. Under the Ujjwala Yojana, LPG connections would be made available to households. The benefits of the Jan Dhan Yojana Banking will include access to drinking water. The programme has been combined with other benefit programmes in a variety of ways.

The PM Awas Yojana scheme is divided into two subdivisions based on the areas on which they focus: 

Pradhan Mantri Awas Yojana (Gramin)/ PMAY-G 

Pradhan Mantri Awas Yojana (Urban)/ PMAY – U 

(READ MORE ABOUT PMAY IN DETAIL HERE) 

What is Pradhan Mantri Gramin Awas Yojana (PMAY Rural) Scheme? 

One of the main signature initiatives of the Ministry of Rural Development The Pradhan Mantri Gramin Awas Yojana (PMAY Rural) was launched during the 2009–2010 fiscal year. This initiative was started by Rajiv Gandhi, India's then-Prime Minister, and was formerly known as the Indira Awas Yojana (IAY). The program's major objective was to provide "Housing for All" by 2022. The PMAY rural scheme aims to promote scheduled caste villages in an integrated manner.

The Pradhan Mantri Awas Yojana Gramin (PMAY-G) programme of the central government seeks to address the housing crisis in rural India while simultaneously advancing the aim of Housing for All. People who are living in kutcha houses with little to no access to necessary amenities and who are unable to afford a home are eligible for PMAY Gramin units. Out of a target of 2.95 crore, 1.65 crore PMAY Gramin houses have already been constructed as of November 29, 2021. The Ministry of Rural Development's (MoRD) goal has already been exceeded by more than half.

RECENT UPDATES ABOUT PMAYG SCHEME: 

PMAY Gramin scheme has been extended till March 2024: 

In order to complete the task of building 2.95 crore homes, the Union Cabinet has extended the duration of the government's signature "Housing for All" programme, Pradhan Mantri Awas Yojana Gramin (PMAY Gramin), from March 2021 to March 2024. Under this continuance of the programme, the 155.75 lakh remaining homes would receive financial assistance to be transformed into pucca houses with the most basic amenities.

The remaining 155.75 lakh houses under the PMAY rural programme will cost a total of?2,17,257 crore to build, with a significant contribution of?1,25,106 crore and a state share of?73,475 crores, for a total of 2.95 crore homes in rural areas.

Features of PMAY Gramin: 

The following are the key features of the Pradhan Mantri Gramin Awas Yojana scheme: 

The PMAY Gramin residences are 25 square metres (269.098 sq ft).

The Central and State governments will split the cost of each unit in plain regions 60:40, providing?.1.20 lakh in aid for each unit.

In Himalayan states, states in the northeast, and the Union Territory (UT) of Jammu & Kashmir, the ratio is 90:10, with each unit receiving up to?.1.30 lakh in aid.

The centre is providing all financing for Union Territories, which includes the UT of Ladakh.

Beneficiaries of MGNREGS receive?.90.95 per day of unskilled labour.

Gram Sabhas use socioeconomic and caste census criteria to identify and confirm beneficiaries (SECC).

In collaboration with MGNREGS or other programmes, the Swachh Bharat Mission-Gramin (SBM-G) would provide up to?12,000 in toilet construction assistance.

Electronic payments are made to post office or bank accounts that are connected to Aadhaar.

The factors listed above ensure the following advantages: 

The homeless will be given inexpensive housing under PMAY G.

Senior citizens and persons with special needs will have space on the ground floor.

Utilizing sustainable and ecologically friendly items helps maintain a cleaner environment.

This programme includes rural mason training, ensuring employment opportunities.

Through this programme, low-interest loans are made available to rural residents.

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Budget 2020 live updates | Nirmala Sitharaman proposes FDI in education, sector allocated over ₹99,000 crore

New Post has been published on https://apzweb.com/budget-2020-live-updates-nirmala-sitharaman-proposes-fdi-in-education-sector-allocated-over-%e2%82%b999000-crore/

Budget 2020 live updates | Nirmala Sitharaman proposes FDI in education, sector allocated over ₹99,000 crore

Union Finance Minister Nirmala Sitharaman’s second Budget is being presented in Lok Sabha. It is expected to announce measures to restore economic growth and to set out a clear road map for achieving the ambitious target of $ 5 trillion economy by 2025.

Here are the latest updates:

12.30 p.m.

A taxpayer charter is to be enshrined in the statutes to avoid citizen harassment. Major reforms proposed in recruitment in non-gazetted posts in government and public sector banks. Govt to set up National Recruitment agency for recruitment to non gazetted posts.

New National Policy on Official Statistics proposed. Clean, reliable, robust financial sector critical for economy.

12.20 p.m.

Indian Institute of Heritage and Conservation to be set up, with the status of a deemed university.

Five archaeological sites will be developed as world-class sites – Rakhigarhi, Haryana; Hastinapur, UP; Sivasagar, Assam; Dholavira, Gujarat; Adichanallur, TN.

A Tribal Museum is proposed in Ranchi.

Ministry of Culture – ₹3,150 crore.

India’s tourism sector grew at 7.8 per to 1.88 lakh crore from 1.75 lakh crore. ₹2,500 crore allocated to promote tourism

Coalition for Disaster Resilient Infrastructure launched from September 2019. Its implementation will be from January 2021.

₹4,400 crore allocated to promote clean air in cities with 1 million population.

She quotes the Thirukkural: Piniyinmai Selvam Vilaivinpam Emam Aniyenpa Naattiv Vaindhu (A country’s jewels are these five: unfailing health, farm productivity, and joy, a good defence, and wealth)

National Security is the top priority of this government. She compares Ayushman Bharat initiative to Thiruvalluvar’s emphasis on a healthy nation. As FM compares Mr. Modi with Thiruvalluvar, Opposition begins slogan shouting.

12.10 p.m.

The govt proposes to expand the national gas grid from 16,200 km to 27,000 km.

Soon there will be a policy to enable the private sector to build data centre parks throughout the country. Fibre to Home connections through Bharat Net will link 1 lakh gram panchayats this year itself. The Bharat Net programme will be allocated ₹6,000 crore.

Budget proposes to provide Rs.8,000 crore over five years for the National Mission on Quantum Technology and Applications.

‘Beti Bachao, Beti Padhao’ has yielded tremendous results, she says, and other Members in the House raise their voices against the Minister’s statement. Gross enrollment is higher than boys, she says. I would request you not to politicise the issue, FM tells Opposition MPs.

₹35,600 crore allocated for nutrition-related programmes.

We will appoint a task force to look into the issue of low age of girls entering motherhood.

SC and OBC development – ₹85,000 crore

ST development – ₹53,700 crore

Senior citizens and persons with disabilities – ₹9,000 crore.

12 noon

The National Infrastructure Pipeline presents a huge employment opportunity. A National Logistics Policy to be released soon.

Chennai-Bengaluru Expressway to be started.

Within 100 days of the governments formation, it has eliminated unmanned level crossings, and aimed to achieve electrification of 27000 km of lines. We plan a large solar power capacity for Indian Railways, alongside the rail track on the land owned by the Railways.

The government also proposes a Bengaluru suburban rail project at a cost of ₹18,600 crore.

Govt to monetize 12 lots of national highways by 2024. 100 more airports will be developed by 2024 to support UDAN.

Budget proposes to provide ₹1.7 lakh crore for transport infrastructure in 2021. Aircraft fleet size will increase to 1,200 planes by 2024.

Govt urges the States to replace the existing energy meters with prepaid smart meters.

Budget to provide ₹22,000 crore to power and renewable energy sector.

11.50 a.m.

An Investment Clearance Cell to be set up to provide end to end facilitation services, including free investment advisory, information related to land banks. It will work through a portal. Five new smart cities have been planned.

India needs to attract large investments in electronics manufacturing. She proposes a scheme for encouraging investment in this. She also proposes a National Technical Textiles Mission with an outlay of ₹1,480 crore over 4 years to cut down imports.

All ministries will issue quality standards. A new scheme, NIRVIK will be launched. Reversion of duties and taxes on exported products to be launched this year

Each district is to become an export hub, she says. Budget to provide ₹27,300 crore for development and promotion of industry and commerce in 2021

11.45 a.m.

Minister proposes FDI and ECB in education.

150 higher education institutions to start apprenticeships. Urban Local Bodies to provide internships opportunities for fresh engineers for a year.

In order to provide quality education to students of deprived sections, it is proposed to start a degree level full-fledged online education programme.

Under the Study in India programme, an INDSAT exam is proposed to be held in Asian and African countries. A National Police University and National Forensic Science University are proposed.

There is a shortage of qualified medical doctors. For this, it is proposed to attach a medical college to existing district hospitals under PPP mode.

Education sector – ₹99,300 crore

Skill development – ₹3,000 crore.

11.40 a.m.

Swachch Bharat mission to get ₹12,300 crore

The Minister moves on to wellness, water and sanitation.

Fit India movement is a vital part of the fight against non-communicable diseases.

The government proposes to set up hospitals in Tier-II and Tier-III cities with the private sector using PPP.

The Minister also proposes to expand Jan Aushadhi Kendra.

Health sector allocation – ₹69,000 crore.

Swachch Bharat mission – ₹12,300 crore

11.30 a.m.

Railways to launch Kisan Rail for cold storage

The Indian Railways will set up Kisan Rail for cold storage of perishable goods through the PPP model. Krishi UDAN will be launched by the Ministry of Civil Aviation on international and national routes.

For the horticulture sector, with its current produce of 311 million metric tonnes exceeds the production of foodgrains. For better marketing and exports we will support States which support ‘one product, one district’.

Integrated farming systems in rain-fed areas will be established.

Youth and fishery extension work to be enabled by rural youth as Sagar Mitras, 500 fish farmer producing organisations to be set up.

Financing on negotiable warehousing receipts has already crossed ₹6,000 crore.

Agricultural credit target has been set at ₹15 lakh crore. All eligible beneficaries of PM Kisan will be covered under Kisan Credit Card scheme.

MNREGA will be dovetailed to create fodder farms.

By 2022-23, she proposes raising fish production to 200 lakh tonnes.

58 lakh SHGs have been mobilised to alleviate poverty.

The fund allocation for all these steps: for the sector comprising agriculture, allied activities – ₹2.83 lakh crore.

11.21 a.m.

Govt committed to doubling farm income by 2022

The government is committed to doubling farm income by 2022.

The first thing is to encourage State governments to implement model laws passed by the central government — Model Agri Land Leasing Act, 2016, APMC, 2017 and Contract Farming, 2018.

The second action point is comprehensive measures for 100 water-stressed districts.

The third action point is to provide 20 lakh farmers with stand-alone solar pumps. We shall also help another 15 lakh farmers to solarise their farms.

The fourth is to encourage balanced use of all kinds of fertilisers. This is to change the current incentive regimes, she says.

She then quotes the Aathichudi by Auvaiyar. Bhoomi Thiruthi Unn (Take care of your land first).

The next is a proposed village storage scheme run by self-help groups. Women SHGs can get assistance from NABARD or Mudra.

11.20 a.m.

She reads out a Kashmiri poem, which she then translates in Hindi.

Hamaara watan Khilte Shalimar bagh ke tarah

Hamara watan Dal lake mein Khilte hue Kamal jaisa hai

Naujawano ke garam Khoon jaisa hai

Mera watan tera watan hamara watan, Duniya ka sabse pyara watan

Our country is like a blooming Shalimar Bagh,

Our country is like a lotus blooming in Dal Lake

Its like the warm blood flowing through our youth’s veins

My country, your country, our country, The world’s most adorable country.

11.10 a.m.

The implementation of schemes and programmes that directly benefited the poor and the disadvantaged was sped up and scaled up, says the Finance Minister. She lists Ayushman Bharat, UPI, affordable housing through PMAY etc. The milestones achieved are unprecedented, globally recognised, she says.

We have moved on from a growth rate of just over 4% to around 7% in 2014-19.

Inflation was 9% in the last two decades, she says. We are now the fifth largest economy in the world, says Nirmala Sitharaman.

Our government shall work towards taking the country forward so that we can leapfrog to the next level of wealth, prosperity and well-being, she says.

Three prominent themes in the Budget are — aspirational India, economic development for all, a caring society that is both humane and compassionate.

The digital revolution which has placed India in a unique position globally will govern the future. We shall aim speedy delivery of services, she says.

11 a.m.

Nirmala Sitharaman begins her Budget speech

House is in session. Speaker Om Birla is in the Chair. Papers are laid on the table.

Finance Minister Nirmala Sitharaman rises to lay on the table the report of the 15th Finance Commission.

Ms. Sitharaman then presents a statement of estimated receipts and expenditure.

She then rises to present the Union Budget 2020-21. “In May 2019, Prime Minister Narendra Modi received a massive mandate to form the government again. People of India have unequivocally given their janaadesh for not just political stability, but have also reposed their faith in our economic policy. Let our businesses be innovative, healthy and solvent with use of technology.

Ms. Sitharaman presents a picture of “vibrant India” with what she calls the “gentle breeze of technology” to uplift minorities.

The Minister calls GST as historic and mourns the passing of Arun Jaitley, whom she calls the “architect of GST”. GST has integrated the country economically, she says, and has resulted in the formalisation of the economy. The turnaroud time for trucks has reduced by 20%. Inspector Raj has vanished, she says.

The average family has saved 4% of its monthly spending on account of reduced GST rates. We have added 60 lakh new taxpayers, she says.

10.45 a.m.

Merge ‘Make in India’ with ‘Assemble in India’ to create jobs: Eco Survey

The economic survey 2019-20 urged the government to integrate ‘Make in India’ with ‘Assemble in India’ to create 4 crore jobs by 2025. The survey pointed out that the current international trade environment presents an opportunity for India to chart a China-like, labour intensive, export trajectory. This in turn will create jobs for the youth, the survey said.

Officials check the Union Budget 2020 documents outside the Parliament building in New Delhi   | Photo Credit: R.V. Moorthy

  By integrating ‘Assemble in India for the world’ into ‘Make in India’, India can raise its export market share to about 3.5% by 2025 and 6% by 2030. This will create 8 crore by 2030, the survey said.

Delhi should get even more in this Budget, says Kejriwal

“People of Delhi hope that the Centre will protect the interests of Delhi. In view of the elections, Delhi should get even more. The budget will show how much the BJP cares about Delhi,” said Delhi Chief Minister Arvind Kejriwal in a tweet on Saturday.

10 a.m.

Congress hopes Union Budget will provide relief to salaried class, invest in rural India

The Congress expressed hope that the Union Budget 2020 would provide relief to the salaried class through tax cuts and invest in rural India besides providing a healing touch to the common man and industry facing “hardship” since demonetisation.

Congress chief spokesperson Randeep Surjewala said the last budget led to crashing consumption levels, soaring unemployment and falling GDP.

“Budget 2019= Consumption crashed, Unemployment soared, Farm distress surged, Incomes declined, Investments slumped, Public spending fell, GDP nose dived!,” Mr. Surjewala tweeted.

“Yet, Modiji gave Corporate Tax Cuts of ₹1,45,000 crore. Let Budget 2020 give tax cuts to Salaried Class and invest in Rural India,” he said.

– PTI

9.45 a.m.

Ahead of Budget, Sensex slumps over 200 pts, Nifty tests 11,900

Market benchmark Sensex slumped over 200 points in opening session on Saturday ahead of the release of the Union Budget.

After shedding 279 points in early trade, the 30-share BSE index was trading 124.96 points or 0.31% lower at 40,598.53, and the broader NSE slipped 23.10 points, or 0.19%, to 11,939.

In the previous session, Sensex settled 190.33 points, or 0.47%, lower at 40,723.49, after the Economic Survey suggested relaxing fiscal deficit target to boost growth from a decade low.

Likewise, the broader NSE Nifty shed 73.70 points, or 0.61%, to finish at 11,962.10.

    9.15 a.m.

‘Bahi-khata’ makes a comback in this years’ budget presentation

Like last year, Finance Minister Nirmala Sitharaman carried the 2020 Union Budget documents in a red bag, reminiscence of the traditional bahi-khata.

Finance Minister Nirmala Sitharaman holds budget papers during a photo opportunity as she leaves her office to present the Budget in the Parliament in New Delhi, India   | Photo Credit: Reuters

  Earlier, Finance Ministers in different governments used to carry a briefcase to present budget, which was considered as a tradition of colonial past.

Ms. Sitharaman is presenting the full Budget for 2020-21. She is carrying the Budget documents in a red silk bag with national emblem.

During the Atal Behari Vajpayee government, the then Finance Minister Yashwant Sinha broke the one colonial tradition of budget presentation at 5 p.m. Since then all governments have been presenting the budget at 11 a.m.

Bahi-Khata is referred to books of account maintained by traditional Indian businessmen.

    Better to focus on growth than on fiscal deficit in current situation: CEA

Ahead of Finance Minister Nirmala Sitharaman’s second Budget, Chief Economic Adviser K.V. Subramanian suggested the government should focus on growth rather than being rigid on fiscal deficit in times of slowing economy.

Union Finance Minister Nirmala Sitharam with MoS Finance Anurag Thakur and Finance Budget team during photo shoot on the eve of the Union Budget presentation, at North Block office in New Delhi   | Photo Credit: Sushil Kumar Verma

  The government can look at option of increasing market borrowing to fund higher expenditure by the government in 2020-21, he said adding that if need be, the government can resort to higher market borrowing this fiscal.

“So, we’ve delineated the overall stance that needs to be taken in times like this. India has been in such situations earlier as well. There’s always a delicate balance between spurring growth and keeping the fiscal (situation) in order,” Mr. Subramanian told PTI in an interaction.

“The view that we have articulated is that it’s better at this point to lean on growth. When you look at the debt-to-GDP ratio, the denominator is the GDP, and our analysis has also shown that when GDP growth increases, the debt-to-GDP ratio falls as well,” he said.

It is time to focus on growth and, therefore, cutting expenditure is not an option, probably because at a time like this, growth needs to be taken care of, he added.

– PTI

    Fiscal deficit hits 132% of Budget Estimate till December

The government’s fiscal deficit touched 132.4 per cent of the full-year target at December-end mainly due to slower pace of revenue collections, official data showed on Friday.

In actual terms, the fiscal deficit or gap between expenditure and revenue was Rs 9,31,725 crore, the data released by the Controller General of Accounts (CGA) showed.

The government aims to restrict the gap at 3.3 per cent of the GDP or Rs 7,03,760 crore in the year ending March 2020.

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