The finance minister relaxed borrowing norms for real estate firms and extended the loan subsidy for low-cost affordable houses. The concessions have, however, failed to impress the industry leaders who termed it as a too-little-too late move that would have a limited impact on the sector. The Budget said, “I propose to allow ECB (external […]
Chief of the Confederation of Real Estate Developers’ Association of India (CREDAI), Lalit Kumar Jain, said the announcement on external commercial borrowings (ECB) for affordable housing was a minor respite but still meaningless. Jain, who is also chairman and managing director of Kumar Urban Development Ltd, added, “We contribute 6.5% to the GDP and expected a big […]
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Also tagged Builders, chairman and managing director of Kumar Urban Development Ltd, Chief of the Confederation of Real Estate Developers' Association of India (CREDAI), director, EWS (economically weaker section), external commercial borrowings (ECB), Gaurav Gupta, ground realty, Lalit Kumar Jain, MD, Omkar Realtors & Developers, Pranab Mukherjee, RICS South Asia, Sachin Sandhir, Tata Housing MD and CEO Brotin Banerjee, Union Budget 2012-13
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Photo by pfalaMarket responded unexpectedly on budget. If we judge the budget 2009, there is nothing negative in terms of imposing new taxes on the corporate world. This budget is good if we take recession under consideration. Talking about US, they are still facing trouble due to recession but on the other hand, India survived […]
November 28, 2008 – 10:56 am
India’s economic growth declined to 7.6% for the second quarter of this fiscal, leaving industry with the hope that policy measures taken over the past month will avert a further fall and help revive manufacturing. The country’s growth was 7.9 percent during the first quarter of the fiscal (April-June) and 9.2% during the second quarter […]
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Also tagged Applied Economics, Bank Of India, Central Statistical Organisation, Current Fiscal Year, Delhi School Of Economics, Economic Depression, Economics Research, Fiscal Year Ending March, Global Economic Slowdown, Indian Economy, Manmohan Singh, P Chidambaram, Policy Measures, Prime Minister Manmohan, Prime Minister Manmohan Singh, Rbi Governor, Reserve Bank Of India, Sri Ram, Subbarao
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November 15, 2008 – 4:59 am
Finance Minister P Chidambaram has asked the US and Europe to “set their house in order” to reverse the impact of the financial crisis on economies worldwide and help capital to flow back to developing nations. “If they (US and Europe) set their house in order, surely capital will flow back to developing countries credit […]
October 31, 2008 – 1:38 am
Taking strong exception to industry chamber Assocham‘s forecast that a quarter of people in certain key sectors will lose jobs in the next ten days, government today said the economy is poised for the other way. “The Deputy Chairman of the Planning Commission and my colleague Jairam Ramesh (Minister of State for Commerce) have taken […]
October 21, 2008 – 2:11 am
RBI has cut the repo rate by 100 bps to 8%. This is effective immediately. The Finance Minister, P Chidambaram said that the repo rate cut will help in moderating inflation. This is a positive move which will enthuse both borrowers and investors, Mr. Chidambaram added. The RBI’s move is consistent with the government’s aim […]
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Also tagged Borrowers, Global Markets, Inflation, Investors, Liquidity, Loan Rates, P Chidambaram, Realtors, Realty Companies, Stock Markets, Stock Prices
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The government on Thursday acknowledged that there is public demand that interest rates on home loans up to Rs 20 lakh should be slashed, but said it is for the banks and RBI to take a call. During his post-budget interaction with Assocham, Finance Minister Mr. P. Chidambaram said, “I shall certainly bear in mind […]
February 28, 2008 – 4:47 am
Realty sector hopes that Finance Minister P Chidambaram will provide tax breaks on REITs in line with the Mutual Funds while he unveils the Union Budget on February 29. Market regulator SEBI has already come out with a draft guideline to allow Real Estate Investment Trusts (REITs), but there was no mention on the tax […]
February 13, 2008 – 12:04 am
A day after public sector banks led by State Bank of India cut interest rates; Finance Minister P Chidambaram raised hopes of another round of cuts. It is known that in last month bankers waited before acting on Chidambaram’s suggestion. This time they appeared more cooperative, saying there was scope for fresh cuts. During a […]
January 28, 2008 – 5:41 am
Jan 09, New Delhi: Finance Minister P Chidambaram received two contradictory suggestions from economists and industrialists. “Given the circumstances that there a number of fiscal stress points in the offing, like oil bonds, MSS, pay commission, it is not prudent to start thinking of reducing tax rates,” Standard & Poor’s Chief Economist (Asia-Pacific) Mr. Subir […]
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Also tagged Advalorem, Budget, Chief Economist, Currency Speculation, Currency Value, Custom Duty, Duty Rates, Excise Duties, Fiscal Stress, India Inc, International Economic Relations, Oil Bonds, Oil Sector, P Chidambaram, Personal Income Tax, Rajiv Kumar, Revenue Implications, Stress Points, Tax Collections, Tax rates, Tobin Tax
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