Tag: Finance Ministry

New Incentivised Schemes for Affordable Housing in Offing

January 14, 2009 – 3:46 pm

In its upcoming mid-term appraisal, the Planning Commission is likely to introduce couple of new schemes for real estate sector so that it acquires a priority status at times of meltdown and provide for “affordable housing”. Announcing this at the ASSOCHAM National Conclave on Threat Before Real Estate Sector – What are Solutions? held here [...]

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Core sectors show sharp dip in growth

November 8, 2008 – 1:38 am

A day after data on direct tax collections indicated dismal growth in key sectors, the bad news was confirmed on Friday by fresh data on the growth of six core infrastructure sectors, which showed they had grown by just 3.9% in the first half of current financial year, a sharp dip from 6.9% for April-September [...]

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FII Stake Not Outside FDI Limit

September 29, 2008 – 7:40 am

The finance ministry has blocked a proposal from the department of industrial policy and promotion (DIPP) to allow foreign institutional investors (FII) to invest over and above the sectoral caps on foreign investment. FII stake should not be taken into consideration while calculating FDI in sectors, for example telecom, which have a foreign investment cap, [...]

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New Investment Rules For Venture Capital And Private Equity

August 7, 2008 – 1:24 am

The government may soon come out with new investment norms for venture capital (VC), private equity (PE) and hedge funds to make their operations transparent and create a level-playing field for both the domestic and foreign players. Joint secretary in the finance ministry KP Krishnan said government is likely to revisit norms for VC funds [...]

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REMF Cleared By Finance Ministry

July 29, 2008 – 11:36 pm

The cloud on real estate mutual funds (REMF) has lifted. The finance ministry has brushed aside RBI’s concerns of REMFs violating foreign direct investment (FDI) norms in the realty sector. North Block has said the central bank’s concern stating that REMF scheme notified by Sebi in April contradicted FDI norms was unwarranted. The finance ministry [...]

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Builders Flouting EWS Norms To Land In Trouble

July 23, 2008 – 7:10 am

Builders would face hefty fines if they do not set aside 15% space in their housing projects for the economically weaker sections (EWS). The ministry of housing has asked states to crack down on developers who violate EWS reservation. Repeated failure to implement the policy may also result in government taking back land allocated for [...]

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Problem With FDI In Real Estate

July 14, 2008 – 6:05 am

Before the globally-popular real estate mutual funds (REMF) take off here, RBI has raised a red flag. It has argued that the funds would lead to circumvention of foreign direct investment (FDI) in real estate that places limitations on foreign investors.

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