RURAL HOUSING SCHEME INDIA
Tamil Nadu won't implement PM Vishwakarma Scheme: CM Stalin informs Union Minister Jitan Ram Manjhi
Tamil Nadu Chief Minister MK Stalin rejected the central government's PM Vishwakarma scheme, citing caste-based discrimination. He announced the state's plan to create a more inclusive program supporting all artisans, regardless of caste, providing financial aid, training, and resources.
Cement industry to add 70-75 million MT capacity in two years amid slowdown in construction
India's cement production will grow significantly. 70-75 million metric tonnes of capacity will be added in the coming two years. Eastern and southern regions will lead this expansion. Cement production will rise, but profits may fall. Construction activity has slowed down after the elections. Rural demand will increase due to good monsoons.
Gujarat unveils new cottage and rural industries policy; eyes 12 lakh jobs in 5 years
Gujarat's new cottage and rural industries policy promises a jobs boost, aiming to create 12 lakh opportunities over five years. The policy offers increased loans up to Rs 25 lakh, and subsidies up to Rs 3.75 lakh, for artisans and entrepreneurs.
Growth in cement volumes expected to moderate to 4-5% in FY2025: ICRA
India's cement industry is staring at slower growth in FY2025, with projections revised down to 4-5% due to a post-election slowdown in construction. While H1 FY2025 saw only 2% growth, the industry anticipates a stronger H2 FY2025 driven by increased rural and urban housing demand and infrastructure spending. However, profitability remains under pressure due to pricing challenges and oversupply.
CREDAI urges government for change in definition of affordable housing
India's real estate sector is projected to reach $4.8 trillion by 2047. CREDAI proposes increasing the affordable housing threshold to Rs 90 lakh. They also suggest flexible GST options for developers. The industry body emphasizes the need for streamlined land acquisition policies and planned satellite towns. PropTech is expected to grow significantly, reaching $600 billion by 2047.
NFO Alert: Tata Mutual Fund launches Tata BSE Select Business Groups Index Fund
Tata Mutual Fund launched the Tata BSE Business Group Index Fund, tracking top Indian conglomerates. The NFO closes on December 9, focusing on diversified sectors, excluding financial services, for long-term capital growth.
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Mahila Samman scheme draws 4.33 million depositors, Maharashtra at the top of the list
Finance Minister Nirmala Sitharaman's Mahila Samman Savings Certificate scheme has garnered over 4.33 million depositors since its April 2022 launch. Maharashtra leads with 746,223 accounts, followed by Tamil Nadu and Odisha. The scheme offers a 7.5% interest rate on a maximum deposit of ?2 lakh and will be available until March 2025, promoting women's financial independence.
Inoperative EPF accounts' total amount up 5 fold to Rs 8,505 cr in 6 years
Inoperative EPF accounts have seen a five-fold increase, reaching Rs 8,505.23 crore in FY24 compared to Rs 1,638.37 crore in FY19. The EPFO clarified these accounts are not unclaimed and will be returned to their rightful owners upon claim filing. Efforts are underway to raise awareness and improve fund utilization through various multimedia campaigns.
How social commerce is transforming women-led enterprises in India
The report by nasscom foundation and LEAD at Krea University has revealed that rural women entrepreneurs in India are leveraging social commerce to expand their businesses. The study, based on a survey of 792 women, highlights the opportunities and challenges faced by these entrepreneurs in adopting digital tools and provides recommendations for sustainable growth.
Housing: It is a chain rather than one industry; 13 stocks from housing ecosystem with an upside potential above 24%
In some sectors, owning a whole chain of stocks makes more sense than taking exposure to a single stock. A sector has many industries, and each has its own internal cycle. There are times when one segment of the sector might be facing problems. So, having exposure to a number of segments helps in diversification of the portfolio. It also helps you take better advantage of a sectoral bull run. Check out Stock Reports Plus, powered by Refinitiv, for price targets of over 4,000 listed stocks along with detailed company analysis focusing on five key components ¨C earnings, fundamentals, relative valuation, risk, and price momentum to generate standardized scores. SR+ Reports is a complimentary offering to ETPrime members.
In Phase 2 of PMAY Housing Scheme, women to get 100% ownership
The government is focusing on women's empowerment through the PMAY (rural) scheme. The scheme aims to provide 100% ownership of houses to women in its second phase. A new survey, Awas-Plus 2024, will identify beneficiaries. The survey includes a self-survey option for greater inclusivity. The government aims to complete the construction of two crore houses within one year.
Advanced Air Mobility can improve accessibility, create new economic opportunities in India: WEF report
A new report by the World Economic Forum and India's civil aviation ministry suggests that Advanced Air Mobility (AAM) solutions like air taxis and air ambulances could revolutionize transportation in India. The report highlights AAM's potential to alleviate traffic congestion, improve accessibility, and connect rural areas.
Low-tech jobs in rural India will spur economic growth: NR Narayana Murthy
NR Narayana Murthy, founder of Infosys commented on a range of subjects in an interaction with ET¡¯s Puran Choudhary and KR Balasubramanyam ahead of the Infosys Science Foundation¡¯s announcement of winners of Infosys Prize.
Congress 'shehzada' conspiring to scrap reservations, alleges PM Modi
Prime Minister Narendra Modi accused the Congress of planning to end reservations for certain communities. He spoke at two rallies in Jharkhand. Modi said the Congress aimed to weaken these communities. He also criticized the current Jharkhand government for its handling of infiltration. Modi expressed confidence in the BJP's victory in the upcoming elections.
Infiltration assuming alarming proportion in Jharkhand, says PM Modi
PM Modi addressed a rally in Godda, Jharkhand. He accused the JMM-led government of supporting infiltrators and harming the interests of tribals. He criticized the government's housing scheme as corrupt. PM Modi promised to hold accountable those responsible for jeopardizing the future of children.
Is it safe? Meet Captain Savita Singh who¡¯s shattering stereotypes as ministers make promises to ladkis & bahins
Captain Savita Singh, likely India's sole woman helicopter pilot in election campaigns, navigates the unique challenges of flying politicians across rural India. Her presence in the cockpit often surprises crowds and even politicians, highlighting the evolving role of women in traditionally male-dominated fields.
FMCG growth slows as high rentals & lower wage hikes weigh on U=urban demand: Britannia
Britannia Industries' MD, Varun Berry, attributes the recent FMCG slowdown to shrinking consumer spending in metropolitan cities. Surging housing costs and lagging wage growth, particularly among urban workers, have squeezed budgets, impacting demand for everyday essentials. While rural markets remain stable, urban consumption has declined, prompting Britannia to implement strategic price adjustments for sustained business growth.
Housing prices keeping consumers away from biscuits? Britannia's Berry flags a concern for FMCG sales
Britannia Industries reported slowing growth in urban areas, attributing it to rising housing costs and low income growth for a significant portion of the urban workforce. While rural growth remained stable, urban demand experienced a downturn, impacting overall FMCG sales.
PSBs explore new route to home loan evaluation
Some large state-owned banks in India are exploring the possibility of offering home loans to individuals without traditional income proof. This initiative aims to assess borrowers' earnings through alternative methods, such as evaluating QR code transactions for street vendors or estimating the business of roadside eateries based on customer volume and average billing.
ETMarkets PMS Talk: We are bullish on India macro; October correction likely to offer better opportunities to investors: Amit Goel
I must also acknowledge the market sentiment, which peaked by the end of September. A few factors aligned in our favor, and being fully invested at the time worked to our advantage.
FMCGs show chic cities of India are losing out to Bharat: Economic Survey
The Monthly Economic Survey for September reveals that volume sales of Fast Moving Consumer Goods (FMCG) show a continued improvement in rural demand, supported by rising three-wheeler and tractor sales. In contrast, urban demand has slowed, with urban FMCG sales growth dropping from 10.1% in Q1 FY24 to 2.8% in Q1 FY25.
MGNREGS demand-driven scheme, not possible to fix enrolment targets: Govt
The rural development ministry clarified that despite reports of a drop in MGNREGS enrolment, targets cannot be set mid-year due to the demand-driven nature of the scheme. The ministry emphasized increased person days through FY 2024-25 and explained processes for job card verification and wage payment challenges.
Govt launches survey to identify new rural housing beneficiaries, says Shivraj Singh Chouhan
The government started a survey to find new beneficiaries for its rural housing scheme. Those living in kutcha houses may get pucca houses under Pradhan Mantri Awas Yojana-Gramin. The eligibility criteria have been relaxed. The survey will be completed in six months. The cabinet approved funds to build more houses nationwide.
PMAY home loan subsidy can be taken back by govt from borrower in these conditions
Pradhan Mantri Awas Yojana Subsidy: PMAY is a government scheme that allows individuals to buy or construct their houses at affordable prices. However, not many PMAY subscribers know the conditions under which PMAY credit subsidy can be taken back by the government from the borrowers. Read on to know the conditions in which PMAY subsidy can be taken back.
Maharashtra govt announces key decisions ahead of elections; death gratuity limit increased
The Maharashtra government, led by Eknath Shinde, announced several key decisions including increasing the death gratuity limit to 20 lakhs and providing relief in stamp duty for Metro three project victims. Other measures include a pay hike for Kotwals, subsidies for indigenous cow rearing, and revised plans for metro rail projects.
Model Gaon project key to rural development, making developed nation, says UP govt official
Uttar Pradesh official Heera Lal emphasizes the importance of village development and women's empowerment for India to become a developed nation by 2047. The 'Model Gaon' project, inspired by successful initiatives in Banda district, focuses on defining development goals, empowering local change-makers, and transforming agriculture into a profitable business.
NDA govt approved infra projects worth Rs 3 lakh cr in first 100 days in office: Amit Shah
The BJP-led NDA government has approved infrastructure projects worth Rs 3 lakh crore, including linking 25,000 unconnected villages to road networks and building a mega port at Wadhawan in Maharashtra. The government also focuses on agriculture by increasing the minimum support price for Kharif crops and launching a new fund named Agrisure to support startups and rural enterprises.
'Over one million PMAY-G beneficiaries to get sanction letters on September 17'
PM Narendra Modi will issue sanction letters to a million beneficiaries of the rural housing scheme on September 17 and transfer ?3,180 crore for house construction. He will also unveil the 'Awas + 2024' app. Prior to this, he will distribute sanction letters in Jharkhand and visit Gujarat to review housing progress.
Transition to LPG for rural India could save over 150,000 lives a year: Study
Switching rural Indian households from wood, dung, and coal to LPG for cooking could save over 150,000 lives annually by reducing air pollution, says a Vital Strategies study. Targeted benefits, mainly in Uttar Pradesh, Bihar, West Bengal, and Madhya Pradesh, include decreased infant mortality and improved outcomes for those with chronic illnesses.
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