United States is optimistic for India’s $5 trillion economy goal.

United States is optimistic for India’s $5 trillion economy goal.
$ 5 Trillion economy goal is on completion version; says US Treasury Secretary Steven Mnuchin. US will
also aim to focus on the changes pertaining to structural reforms made by Government of India. There
are various economic reforms done in recent week to give a boost to slowing economy. The said goal is
expected to get accomplished by 2024. It is expected that this plan will be a powerhouse and will shift
India from 7th position to 3rd position when it comes to current exchange rates. The recent announced
schemes and policies will bring in new investments and some good news for India.
Nirmala Sitharman also added up that there is wider range of discussions over a host of issues that
happened. In the month of October this year, she also made an announcement that there would be
host of negotiations between India and United States on a trade deal that will happen in full speed. Even
on the Iran issue the treasury secretary stated that US is also working with allies to assure that there is
enough oil and the sanctions to be done will safeguard interest even of other nations.

New Law soon will be passed by the Government for Illegal colonies.

New Law soon will be passed by the Government for Illegal colonies.
Owning a Shelter for self-purpose use is the biggest wish of the middle class income people and therefore
Mr.Narendra Modi announced that a law would soon be empowered by Parliament to seek ownership
rights for the residents of unauthorized colonies in National Capital.
In the further conversations, it is also stated that soon the implementation of Pradhan Mantri
Unauthorised colonies in Delhi Awaz Yojana will be done. This drastic step is taken to bring to an end of
the problems faced by the residents of these colonies. This law is expected to get passed in the winter
session of parliament and lot of people are keenly eyeing on it. Before the Prime Minister Narendra Modi
the minister of Union housing and urban development said that the processes will start in 7-10 days.
The residents have to apply for the conferment of ownership rights and procedures are sorted enough to
help people there would be also seva Kendra. It is said more than 40 lakh people will get benefitted
through this Yojana. The urge is also made to the residents to cooperate in the entire activity and let the
government do the needful at the earliest. This scheme is also launched with a purpose of redevelopment
of these colonies and gives a better lifestyle to the residents staying in the Capital of India.

GDP growth forecast of FY20 slashed to 4.9% from 5.7% earlier by Nomura With the harsh reality of deep trough the Japanese brokerage Nomura has massively cut down the GDP forecast.

GDP growth forecast of FY20 slashed to 4.9% from 5.7% earlier by Nomura
With the harsh reality of deep trough the Japanese brokerage Nomura has massively cut down the GDP
forecast. In June the prediction was 5% but severally dropping down stats are point of concern. The
dropping down stats are creating are major hurdle for growth engine and increasing inflation.
It is also said that the RBI will further cut down 0.20% by the mid June in 2020. Even there are various
recovery measures undertaken yet the fruitful improvement has to happen. The declined stats are also
because of the slower consumer demand, lowered investments and certain underperforming service
sectors.
While addressing to the Media; Spokeperson also said that Government is taking various measures but
there is still time to have some positive outcome. In the context and existing problems even the
Financial Minister Nirmala Sitharaman hold several meetings and conferences with the officials and
industry leaders will discuss on the measures of growth and how to plunge in more private investors.

25,000 Cr Fund by the government brings in new ray of hope for stalled housing project

25,000 Cr Fund by the government brings in new ray of hope for stalled housing project
New Delhi: - 25,000 Cr fund announcement by the government for the stalled project is despite relief for
stalled housing projects. This plan intends to complete more than 1,600 stalled projects that even included
the plans that are in bad loans accounts or insolvency proceedings. The main reason of announcing this
plan was to see the boost in real estate segments and its associated sectors.
Nirmala Sitharaman also stated that the Alternative Investment Fund would be of 10,000 crore and
remaining 15,000 Cr. will be from State insurer LIC and the country’s lending leader State Bank of India
(SBI). A special consideration will be given to affordable and lower level income projects. The employment
rate will also boomingly increase because this plan is willing to complete more than 4.58 housing units.
With this purpose the demand for Cement, steel and iron industries will also be revived.
In this plan the RERA registered projects with positive net worth the funds will be provided only for
those. The payout of the funds will be stages and in escrow account the funds will be kept. All the
monitoring and management of funds will be done by SBI Caps. This plan intends to solve off long
intending problems of people. A welcoming change for the fruitful future can now be seen.
How Rs. 25000 Cr. Funds for incomplete flats will work 10 pointers:
1) Finance minister Nirmala Sitharaman had in September announced that a special window for
affordable and middle-income housing will be created for providing last-mile funding for incomplete
housing projects. But it had barred projects that have been declared as NPAs or non-performing assets
or are facing bankruptcy proceedings.
2) However, the government has now removed those conditions. Even if a housing project has been
declared non performing asset but liquidation has not been announced will be eligible to benefit from
this fund.
3) This fund will cover incomplete projects where unit cost or flat cost is less than ₹2 crore in Mumbai,
less than ₹1.5 crore in NCR, Chennai, Kolkata, Hyderabad, Bengaluru, Ahmadabad, Pune and less than ₹1
crore in rest of the country
4) Another condition is that the projects need to be registered under RERA or Real Estate Regulation and
Development Act and their net worth (cash flows minus project cost) should be positive.
5) The fund will release funds to developers in stages through an escrow account.
6) This means funds can only be utilized for completion of the project.
7) The banks cannot recover their earlier loans from this fund. The fund will be only used for completion
of the project, said the finance minister.
8) The fund will give priority to projects that are near completion. The finance minister cited an example
to explain the working of the fund. Say, a project which has three towers and Tower 1 has been 70%completed, Tower 3, 50% completed and work on Tower 2 has not started. The fund will give priority to
Tower 1 and then Tower 3. Tower 2, where work has not been started, will not get funding.
9) The finance minister said that the government is seized of the problem faced by homebuyers who are
forced to pay EMIs on loans taken for buying homes but have not yet got possession and continue to
shell out both loan installments and rent. The RBI will soon issue a note so that home buyers who had
stopped paying EMIs can regularize payments.
10) Analysts have welcomed the setting up of this fund. "The proposed fund is better than the earlier
one since this also includes projects referred to NCLT. This will be beneficial not only to the stressed real
estate sector but also to the home finance and NBFCs which have lent to developers

In order to improve the infrastructure of Delhi the Master Plan 2041 is envisioned

In order to improve the infrastructure of Delhi the Master Plan 2041 is envisioned. Basically it will focus on the key areas like suistanblity, redevelopments, walkablity, street infrastructure, air pollution data and keep regulatory on unauthorised colonies. After this Master plan the perception of smart city will totally change. A lot of landscaping will also be done around the banks of Yamuna River because it is a flood plain.
30 meetings have already been held with the stakeholders and collection of all neccessary data and problems is done. The key aspect of this plan is to bring strategic solution and help commoners to solve the problems. Even for the utilities like Gas or optical fibre under this plan there would be designated areas. It is being seen that more than 6400 hectares of land is pooled under this policy.
The main motive is to bring in quality of life to people and also to fulfill those agendas that were not completed in 2021. The commencement of work is already done by DDA and National Institute of Urban affairs. The plan is aimed to have citizen engagement and provide an quality of public transport. The plan is expected to cover all the needs of city.