Notwithstanding expectations of a pick-up in construction activity during a seasonally strong January-March quarter (fourth quarter) of 2022-23 (FY23), analysts are cautiously optimistic about the building material sector - encompassing paints, pipes, wood panels, tiles, metals, and cement - as volatile input costs, coupled with fears of a global slowdown, are making demand projections uncertain. Against this backdrop, analysts suggest investors stay selective and pick stocks of companies with stronger brand recall, expanding distribution network, diversified product profile, healthier balance sheet, and sustainable cash flow. "The government's various proposals under Budget 2023-24 (FY24) may lead to the building material segment growing between 8 per cent and 12 per cent for the next five years.
Mortgage firm HDFC Ltd on Wednesday announced sale of a 10 per cent stake in its private equity arm HDFC Capital Advisors to a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA) for about Rs 184 crore. ADIA is also the primary investor in the alternative investment funds managed by $3 billion-HDFC Capital. Set up in 2016, HDFC Capital is the investment manager to HDFC Capital Affordable Real Estate Funds 1, 2 and 3; and is aligned with the government's goal to increase housing supply and support the Pradhan MantriAwas Yojana - 'Housing for All' initiative, HDFC Ltd said in a statement.
Per capita income has more than doubled to Rs 1.97 lakh in around nine years. Indian economy has increased in size from being 10th to 5th largest in the world in the past nine years. Seven priorities of the Budget, 'Saptarishi', are inclusive development, reaching the last mile, infrastructure and investment, unleashing the potential, green growth, youth power and financial sector.
Public sector banks have lost nearly Rs 2.85 lakh crore on account of loan dues of 13 corporates even as the banks are used to bail out ailing financial institutions such as Yes Bank and IL&FS, United Forum of Bank Unions alleged on Monday. In a press release, UFBU's convener B Rambabu said the organisation calls for a two-day all India bank strike on December 16 and 17 protesting against Banking Laws (Amendment) Bill 2021 and opposing the Centre's alleged move to privatise PSBs. According to the statistics given by the UFBU, the 13 corporates' outstanding dues were at Rs 486,800 crore and it was resolved at Rs 161,820 crore resulting in a loss of Rs 284,980 crore.
A house constructed under the Pradhan Mantri Awas Yojana (PMAY) on government land was demolished in Khargone city of Madhya Pradesh following violence on Ram Navami.
Housing sales mostly declined during the first and the second wave of the coronavirus pandemic but prices did not fall in most of the cities but rather increased in some cities, according to the Economic Survey 2021-22. The pre-Budget document also highlighted that the housing demand recovered after both the waves on the back of pent up demand, low interest rates on home loans and reduction in stamp duty by some states. The survey has analysed the National Housing Bank's data on change in housing transactions in Q1FY21 (first COVID-19 wave) and Q1FY22 (second COVID-19 wave) over the pre-pandemic levels of Q1FY20. It also looked into change in housing prices index during this period.
Modi claimed that some other parties were also helping the opposition alliance from behind but any vote for them will take Tripura several years backward.
However, the affected family has rejected the offer as of now citing security concern and the administration said no formal order has been issued with regards to their relocation.
Prime Minister Narendra Modi on Thursday said India has become the fifth largest economy in the world and this is not an ordinary achievement. "Every Indian is feeling proud of it. We need to maintain this enthusiasm," Modi said. He was virtually addressing beneficiaries of various government schemes and those present at a mega medical camp organised in Olpad area of Surat city in Gujarat, where the Assembly polls are due later this year.
Alleging that a government working against the citizens is at the helm, Rajya Sabha MP Kapil Sibal on Saturday announced a new platform 'Insaaf' to fight 'injustice' prevailing in the country and called on everyone, including Opposition parties' chief ministers and leaders, to support him in his endeavour.
The middle class is a big force to fulfil dreams of a prosperous and developed India and our government has taken many decisions to empower it, the prime minister said.
Rediff.com takes a look at the progress of schemes initiated by the government.
Chhattisgarh Chief Minister Bhupesh Baghel on Sunday said he was yet to receive minister T S Singh Deo's resignation from the panchayat department and that he learnt about the latter's move through media.
A photo of the prime minister hugging Indian Space Research Organisation chief K Sivan after a last-minute setback that led to the loss of lander Vikram, was also put on display for visitors.
As many as 2,508 cities in 26 states have been selected under 'Pradhan Mantri Awas Yojana' for providing affordable houses to the urban poor.
Blame the voter, who invariably chooses the promise of hand-outs today in preference to a vague promise of, say, better schools tomorrow. Getting the Supreme Court to issue an edict, or Parliament to pass a law, is no solution, observes T N Ninan.
'The agenda in politics should be service-oriented. But in Telangana the mandate of those who got mandate -- their entire focus is to abuse Modi'
Union Rural Development Minister Jairam Ramesh has kicked up yet another controversy by wiping his shoe with a garland of spun cotton that was given to him as a welcome gesture by Congress members at a public function in Bikaner district of Rajasthan.Chief Minister Ashok Gehot was also present at the function at Kolayat area in Bikaner on Monday, where the duo distributed sanction letters of the first installment of grant aid under the Mukhyamantri Gramin BPL Awas Yojana.
The Congress had moved the motion on Wednesday, targeting the Chouhan government over law and order, unemployment, inflation, corruption, 'discrimination' against the opposition legislators, atrocities against women and tribals, farmers' problems and other issues.
Finance Minister Nirmala Sitharaman on Wednesday raised the personal income tax rebate limit, doled out sops on small savings and announced one of the biggest hikes in capital spending in the past decade as she did a tight rope walk in the Budget between staying fiscally prudent and meeting public expectations in the year before general elections.
The home minister said the northeast and the Left-wing extremism-affected areas in the country are tribal-dominated regions and security is a precursor to development there.
Ramesh's reply came when he was asked whether grants would be provided to Karnataka for the Mahatma Gandhi National Rural Employment Guarantee Act and Indira Awas Yojana as the state was now under the Congress rule.
In a bid to woo villagers to benefit from the National Rural Employment Guarantee Scheme, the Orissa government on Tuesday decided to offer health insurance and a house under the Indira Awas Yojana to each labourer who completed 100 days work in a year, official sources said.
Almost 3.3 million houses awaiting completion under the IAY will be built by the end of 2016-17.
'...Market-linked debentures, high-value insurance, exemptions from capital gains by investment in real estate, etc.' 'So, there are a number of measures directed at collecting a fair share from higher income individuals.'
Existing vacant government-funded housing complexes will be converted into Affordable Rental Housing Complexes through concession agreements for 25 years.
A map showing the number of homeless persons per 1000 population in districts across India.
The NPR data will be used for schemes such as Ayushman Bharat, Pradhan Mantri Awas Yojana, Ujjvala and Saubhagya for identifying the intended beneficiaries.
In his address after more than 75,000 people were given appointment letters for various government jobs in the first tranche, Modi acknowledged the challenges facing the economy the world over with many countries hit by a record inflation and unemployment and said India is making every effort to come out of the situation unscathed.
Effects of the new schemes launched under the Pradhan Mantri Awas Yojana would be felt more in tier-II and tier-III cities, as not many budget or affordable housing projects are in the works in metropolitan cities.
Houses under the Indira Awas Yojana will be built for the homeless flood victims of Assam, she said.
Desai, president of Bhumata Ranragini Brigade, has been batting for women's entry into the Sabarimala temple in Kerala.
Sitharaman does away with loans from National Small Savings Fund to Food Corporation of India.
Madhya Pradesh Chief Minister Shivraj Singh Chouhan said he ordered to stop the water outflow from the Bansagar dam so that the water level in the canal can go down, which will aid in rescue operations.
This is more than 25 per cent higher as compared to the same period of the previous year when the prime minister had 78 domestic engagements.
So far, 50 people have also been injured in these incidents, the government said in a statement.
Modi praised Tamil Nadu as a special place and lauded the Tamil language as eternal and its culture as global.
'Whatever ED officers do -- issue summons, conduct searches or arrest a person -- they have to face the courts.'
Modi said the smooth passage of the quota bill is a strong answer by the Parliament to those spreading lies.
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