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<ul class="summary-list"><li>On Thursday, China unveiled new measures to prop up its struggling property market.</li><li>The measures include quicker credit for developers and support for renovations in urban shantytowns.</li></ul>China officials have directed a wave of stimulus measures at the country's beleaguered property market, but the effort hasn't done much to impress Wall Street experts. On Thursday, China unveiled <a target="_blank" href="https://www.businessinsider.com/china-economy-3q-gdp-growth-stock-market-stimulus-2024-10#:~:text=In%20September%2C%20China's%20new%20home,estate%20market%20remains%20%22elusive.%22">new measures</a> to prop up its flailing housing market, including quicker access to credit for developers and renovations in run-down urban areas.The government's "white list" of unfinished housing projects eligible for government financing will now receive more funds to encourage banks to increase lending to those projects, the Ministry of Housing said in a press conference.The funds will amount to 4 trillion yuan ($550 billion) by the end of the year, almost double the current quota of 2.2 trillion yuan.The Housing Ministry also unveiled plans to update the country's run-down downtown areas, or "urban villages," with a million apartment renovations planned.While the efforts appear to be a big swing attempt by Beijing to remedy an issue at the heart of its economic crisis, analysts on Wall Street have been underwhelmed. Experts from Goldman Sachs, BCA Research, and AXA Investment Managers this week struck a pessimistic tone on the potential for the new policies to revive China's property sector. Goldman Sachs analysts said the measures may slightly help real estate financing, home completions, home transactions, and prices in large cities, but they won't be enough to combat the market's structural issues."Given many structural challenges in the property sector and still-limited policy support for housing destocking, we maintain our view that there appears no quick fix for the nationwide property sector," Goldman Sachs said in a Friday note.Analysts from BCA Research echoed that view, saying the plan's details were "underwhelming."They pointed in particular to the latest aims at the country's "white list" project loans, which they say haven't been successful so far amid a fragmented property market and banks' hesitation to lend to risky projects.They also said the apartment renovation plan lacks detail and mirrors a similar program introduced in 2015, which aimed to renovate 6 million units annually for several years. The latest plan, though, provides no clear timeline.The analysts also warned the country's flailing economy could even lead to a global recession."While a step in the right direction, these stimulus measures are so far falling short of the scope and scale needed to reflate the Chinese economy. The stimulus announced should put a floor on activity sometime in 2025, but we expect it will be too little, too late to prevent a global recession," the analysts said in a Friday note.Thursday's new policies helped fuel a rally in the CSI 300 index, which climbed 3.6% on Friday. But Yingrui Wang, China economist at AXA Investment Managers, says that optimism could be short-lived as the housing stimulus lacks detail."The recent monetary easing measures initially boosted sentiment in the equity market, and today's launch of the PBoC's stock buy-back re-lending facility has fuelled renewed momentum. However, delays and a lack of detail in fiscal policy may soon temper this optimism," Wang said in a Friday note.The market rally was also helped by new growth figures, which show the economy expanded 4.6% in the third quarter, compared with the same period last year. That marks a slight slowdown from the 4.7% growth in the second quarter, but narrowly beat forecasts of 4.5% growth.The latest figure brings year-to-date growth to 4.8% — just shy of the country's annual target of "around 5%."Wang says the most recent numbers make China's growth target more likely. Up until the country's initial stimulus push, first announced at the end of last month, Wang predicted Beijing's goal looked <a target="_blank" href="https://www.businessinsider.com/china-growth-targets-axa-investment-property-sector-industrial-production-2024-9">increasingly lofty</a>.

China's attempts to save its flailing housing market haven't boosted confidence among top Wall Street analysts

New Delhi, <keyword id="4742614" type="COMPANY" weightage="20" keywordseo="ministry-of-housing-and-urban-affairs">Ministry of Housing and Urban Affairs</keyword> (MoHUA) has joined hands with <keyword id="830092" type="LOCATION" weightage="20" keywordseo="Zomato">Zomato</keyword> for home delivery of <keyword id="6361952" type="UNKNOWN" weightage="20" keywordseo="Street-Food">street food</keyword> in six cities. As a part of Prime Minister <keyword id="456744" type="PERSON" weightage="20" keywordseo="street-vendor">Street Vendor</keyword>'s AtmaNibhar Nidhi (PM SVANidhi) Scheme, the MoHUA entered into MoU with Zomato, to bring <keyword id="6770639" type="COMPANY" weightage="20" keywordseo="street-food-vendors">street food vendors</keyword> on its food-tech platform. In a statement MoHUA said that initially MoHUA and Zomato will run a pilot program by on-boarding 300 vendors across six cities namely - Bhopal, Ludhiana, Nagpur, Patna, Raipur, Vadodara. "The street vendors will be helped with PAN and fssai registration, training on technology/ partner app usage, menu digitization and pricing, hygiene and packaging best practices. Upon the successful completion of the pilot, MoHUA and Zomato plan to expand this initiative across the country in phases," it said. As per the MoHUA, this will give street food vendors online access to thousands of consumers and help these vendors grow their businesses. The MoHUA also launched the Mobile Application for PMSVANidhi se Samriddhi- Socio-economic profiling of PM SVANidhi beneficiaries and their families to link them to various Central government Schemes. "Covid-19 pandemic has restricted consumers from stepping out and forced them to follow physical distancing norms. In the given scenario it is important to connect Street Food Vendors with technology-enabled platforms to help them grow their business, thus helping them gain financially," said the ministry. In a first of its kind initiative, MoHUA entered into an MoU with Swiggy on October 5 last year and it is now joining hands with Zomato to empower street food vendors with digital technology. The MoHUA has coordinated with the key stakeholders including <keyword id="6414396" type="COMPANY" weightage="20" keywordseo="municipal-corporations">Municipal Corporations</keyword>, fssai, Zomato and GST officials to ensure that street food vendors are facilitated in completing the necessary prerequisites for this initiative. SEE ALSO: <a href="https://www.businessinsider.in/policy/economy/news/how-big-is-indias-debt-and-should-it-be-a-worry/articleshow/80688623.cms">How big is India's debt and should it be a worry?</a> <a href="https://www.businessinsider.in/stock-market/news/heres-why-you-arent-being-able-to-apply-for-brookfield-reit-ipo-through-zerodha-groww-angel-broking-and-other-stockbroking-apps/articleshow/80686457.cms">Here's why you aren't being able to apply for Brookfield REIT IPO through Zerodha, Groww and other stockbroking apps</a>

Zomato joins hands with the Indian government to deliver street food in Bhopal, Ludhiana, Nagpur, Patna, Raipur, and Vadodara

New Delhi, In a reprieve for many people seeking to resume travel through public transport, <keyword id="2835665" type="COMPANY" weightage="20" keywordseo="The-Ministry-of-Home-Affairs">the Ministry of Home Affairs</keyword> (<keyword id="65491" type="COMPANY" weightage="20" keywordseo="MHA">MHA</keyword>) on Saturday decided to allow the resumption of metro operations from September 7 in a graded manner. The MHA has issued new guidelines for opening up of more activities in areas outside the containment Zones. Unlock 4, will come into effect from September 1. "Metro rail will be allowed to operate with effect from 7th September 2020 in a graded manner, by <keyword id="9255332" type="COMPANY" weightage="20" keywordseo="the-ministry-of-housing-and-urban-affairs">the Ministry of Housing and Urban Affairs</keyword> (MOHUA)/ Ministry of Railways (MOR), in consultation with MHA. In this regard, Standard Operating Procedure (<keyword id="50548" type="COMPANY" weightage="20" keywordseo="Sop">SOP</keyword>) will be issued by MOHUA", said a statement issued by MHA. The new guidelines, issued today, are based on feedback received from states and UTs, and extensive consultations held with related central ministries and departments. However, schools, colleges, educational and coaching institutions will continue to remain closed for students and regular class activity upto September 30. The Centre has also permitted social/ academic/ sports/ entertainment/ cultural/ religious/ political functions and other congregations with a ceiling of 100 persons, with effect from September 21. However, such limited gatherings can be held with mandatory directives like wearing of face masks, social distancing, provision for thermal scanning and hand washing or use of sanitiser. Open air theatres will also be permitted from September 21.

MHA allows metro operations in graded manner from Sept 7

<ul class="summary-list"><li>Singapore is the world's sixth Blue Zone, according to Dan Buettner, a journalist who popularized the term.</li><li>In the Netflix series "Live to 100," Buettner shows how the country is designed to encourage its residents to live healthier.</li></ul>Singapore is the world's sixth Blue Zone, according to Dan Buettner, a journalist and researcher who popularized the use of the term to describe regions in the world <a href="https://www.insider.com/worlds-5-blue-zones-people-live-longest-lives-2023-3">where people live longer and healthier lives</a>.People living in these regions have several <a href="https://www.insider.com/blue-zone-residents-longevity-secrets-traits-2019-12" rel="">common</a> traits that allow them to achieve longevity, including eating a <a href="https://www.insider.com/eat-more-carbs-less-meat-live-longer-blue-zones-diet-2022-12" rel="">plant-based diet</a>, moving regularly, and living with purpose.The original five Blue Zone regions include <a href="https://www.insider.com/okinawa-blue-zone-and-its-longevity-secrets-2023-9">Okinawa in Japan</a>, <a href="https://www.insider.com/ikaria-greece-blue-zone-and-its-longevity-secrets-2023-9">Ikaria in Greece</a>, <a href="https://www.insider.com/blue-zone-lifestyle-sardinia-nicoya-longevity-rest-social-happy-hour-2023-8">Sardinia in Italy, Nicoya in Costa Rica</a>, as well as <a href="https://www.insider.com/blue-zones-loma-linda-vegetarian-diet-community-rest-2023-9">Loma Linda in California</a>.Unlike the original five, which developed organically through traditions and practices that have flourished for years, Buettner describes Singapore as a "manufactured city," in the Netflix documentary "<a href="https://www.netflix.com/sg/title/81214929">Live to 100: Secrets of the Blue Zones</a>." Life expectancy in Singapore stands at 80.7 years for men and 85.2 for women, based on the <a href="https://www.singstat.gov.sg/find-data/search-by-theme/population/death-and-life-expectancy/latest-data">latest government data</a> for 2022. In contrast, the average life expectancy in the country was just 65 years old in 1960, per data from the <a href="https://data.worldbank.org/indicator/SP.DYN.LE00.IN?locations=SG" target="_blank" rel="noopener">World Bank.</a>Here's how policies rolled out by the government — involving housing, transportation, and hawker centers — have all come together to create what Buettner calls a "Blue Zone 2.0" in this tiny Southeast Asian city-state.<h2>1. Public housing</h2><div type="image" title="A HDB estate consists of a few similarly-designed apartment blocks clustered together. They also have shared communal facilities, such as playgrounds, gardens, and fitness corners." height="3024" width="4032" msid="103648775" hostid="261" sizebytes="1371898"></div>Over 80% of Singapore's residents live in high-rise <a href="https://www.insider.com/singapore-hdb-flat-tampines-farmhouse-wabi-sabi-japanese-home-tour-2023-4">public-housing apartment blocks</a>. Built by the Housing Development Board, these public housing apartments are colloquially known as <a href="https://www.businessinsider.com/singapore-hdb-flat-woodleigh-bto-modern-scandinavian-home-tour-photos-2023-7">HDB flats</a>.In Singapore, these estates are <a href="https://www.hdb.gov.sg/community/creating-vibrant-places/your-community-spaces" target="_blank" rel="noopener">intentionally designed to encourage social interaction</a> among its residents. Each HDB estate typically consists of a few identical apartment blocks clustered together. Dedicated communal spaces such as playgrounds, fitness corners, and community gardens can be found on the estates.<div type="image" title="A playground at one of the HDB estates in Singapore. A little girl is playing on the monkey bars." height="1531" width="2042" msid="103648777" hostid="261" sizebytes="478402"></div>Despite the highly urbanized setting, these shared spaces give people from all walks of life a chance to get to know each other."Loneliness is largely a function of environment," Buettner told <a href="https://fortune.com/well/2023/08/29/singapore-sixth-blue-zone-longevity-secrets-dan-buettner/" target="_blank" rel="noopener">Fortune</a>. "If you live in a cul de sac in the suburbs, and especially if you don't like your neighbors, you're very unlikely to serendipitously run into someone and have a conversation."In Singapore, the government also has a <a href="https://www.hdb.gov.sg/residential/buying-a-flat/understanding-your-eligibility-and-housing-loan-options/flat-and-grant-eligibility/couples-and-families/proximity-housing-grant-families">proximity housing grant</a> that encourages couples buying resale apartments on the open market to live with or near their parents or children.This scheme is a way that the government is tackling the problems of an aging population."By 2030, 25% of our population — one in four — will be above 65," Chan Heng Chee, ambassador-at-large at the Ministry of Foreign Affairs in Singapore, told Buettner in the Netflix documentary. Under this policy, these home buyers can receive up to 30,000 Singapore dollars, or $22,000, in grants if they live with their parents or children.If the house that the couple is buying is within four kilometers, or about two and a half miles, of where their parents or children live, they can receive up to SG$20,000 in grants.This scheme is also available for singles, although the maximum grant amount they can receive is halved."If children look after their parents, it means people don't get sick that often," Chan added.<h2>2. Transportation</h2><div type="image" title="A subway platform in a Mass Rapid Transit (MRT) station in Singapore." height="2933" width="3911" msid="103648780" hostid="261" sizebytes="786734"></div>Singapore has a well-connected public transport system that's being used by nearly half the country's <a href="https://www.singstat.gov.sg/modules/infographics/population">5.6 million population</a>, in contrast to the US average of 5%, Buettner said in the Netflix documentary.There are only around <a href="https://www.straitstimes.com/singapore/politics/12-per-cent-of-car-owning-households-in-singapore-have-2-cars-less-than-3-per-cent-own-3-or-more">471,000 households that own cars in Singapore</a>, and that's due to the high prices of cars in the country. On average, a car in Singapore can cost <a href="https://www.businessinsider.com/singapore-car-price-expensive-us-tesla-toyota-audi-honda-mercedes-2022-6">five times</a> the amount it retails for in the US."People reach the trains and buses using bike lanes and protected walkways paid for by the car taxes, and often pass through one of the island's 350 parks," Buettner said in the show.This, as he explains, encourages people to walk — and get that bit of physical movement daily that they need to stay healthy.<h2>3. Hawker centers</h2><div type="image" title="A hawker center in Singapore." height="3024" width="4032" msid="103648781" hostid="261" sizebytes="1045180"></div>Singapore's hawker centers are known for selling <a href="https://www.insider.com/singapore-hawker-stall-nasi-lemak-best-food-changi-photos-review-2022-4">cheap and delicious meals</a> under one roof. "In the past decades, Singapore's food environment wasn't all that healthy," Buettner says in the Netflix documentary. "They had junk food, they had lots of oil and sugar in their food, but they were able to take steps to change their environment so it was easier to make the healthier choice."In an effort to get the population to eat healthier, the government introduced a <a href="https://www.healthhub.sg/live-healthy/211/make_healthier_choice">"Healthier Choice" symbol</a> to denote healthier food options so that consumers can make better-informed choices.The layout of hawker centers also encourages people in the community to come together."You share tables and you're interacting with the stall user, interacting with the person next to you," Buettner told Fortune. "The chances you're going to run into an old friend or make a new friend are exponentially higher."

Singapore is the world's 6th Blue Zone — and a look at its urban planning helps explain why

Mumbai, Jun 19 () Small Industries Development Bank of India (Sidbi) on Friday said it has signed a pact with the Ministry of Housing and Urban Affairs for implementation of the PM Street Vendor's AtmaNirbhar Nidhi (PM SVANidhi). PM SVANidhi is a central scheme fully funded by the ministry with the objective to facilitate working capital loan to street vendors, thus enabling them to emerge self-reliant after the impact of the COVID-19 pandemic and revive their livelihood activity through formal access to credit. Sidbi will be the implementation partner for the scheme and will set up a project management unit, a release said. It will give access to the scheme through a customised digital platform and will integrate the institutional ecosystem and build capacity value chain. The development finance institution will facilitate credit guarantee to lending institutions through Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE). Microfinance institutions (MFIs) shall be on-boarded on the CGTMSE platform for the first time for the scheme, Sidbi said. The platform shall also be integrated with the National Payments Corporation of India (NPCI) and the Unique Identification Authority of India (UIDAI) to enable the processes envisaged in the scheme, it said. "We are pleased to play a role in this important national endeavour to help millions of street vendors across the country whose livelihood activities have been disrupted due to the coronavirus outbreak. "We shall carry out deep engagement with the entire lending community and urge them to actively participate to make this scheme a success," Sidbi Chairman and Managing Director Mohammad Mustafa said. The scheme includes an initial working capital of up to Rs 10,000, interest subsidy on timely/early repayment at the rate of 7 per cent, monthly cashback incentive on digital transactions and higher loan eligibility on timely repayment of the first loan. Under this scheme, commercial banks, regional rural banks, small finance banks, co-operative banks, non-banking financial companies, MFIs and self-help groups will be able to provide credit. This scheme will target street vendors/hawkers vending in urban areas, as on or before March 24, 2020, including the vendors of surrounding peri-urban and rural areas. HV HRS

Sidbi signs pact with urban affairs ministry for implementation of PM SVANidhi

Inventors and designers in <keyword id="3658" type="COUNTRY" weightage="20" keywordseo="India">India</keyword> could have a <a href="http://www.thehindu.com/todays-paper/tp-in-school/niti-to-open-applications-for-atal-new-india-challenge-tomorrow/article23676243.ece">chance</a> to win upto Rs 1 crore if they win the <keyword id="2746648" type="ORGANIZATION" weightage="100" keywordseo="Atal-Innovation-Mission">Atal Innovation Mission</keyword> (AIM) challenge. The Atal New India Challenge is part of <keyword id="2665691" type="PERSON" weightage="20" keywordseo="Niti-Aayog">NITI Aayog</keyword>, and will not only offer money, but provide mentorship for the winning ideas. Participants have been invited to present their design-ready products, that will be assessed on three verticals - capability, intent and potential to productise technologies. The prospective innovators will have the option of applying their product to any of the 17 identified focus areas that include smart mobility, predictive maintenance of rolling stock and waste management. Once an idea has been shortlisted for AIM, the person responsible will be supplemented with mentorship and incubation facilities as per the requirements of the project. The end goal is to ensure wider deployment for the product. The mission is being implemented in cooperation with five other ministries, including <keyword id="2290680" type="ORGANIZATION" weightage="20" keywordseo="Ministry-of-Agriculture-and-Farmers-Welfare">Ministry of Agriculture and Farmers Welfare</keyword> as well as the <keyword id="6472060" type="ORGANIZATION" weightage="20" keywordseo="ministry-of-housing-and-urban">Ministry of Housing and Urban</keyword> Affairs. Some of the people at the event will be SS Ahluwalia, Minister of State and <keyword id="125928" type="PERSON" weightage="20" keywordseo="Rajiv-Kumar">Rajiv Kumar</keyword>, Vice-Chairman of NITI Aayog. This seems to be a step forward in an attempt to turn India from an <a href="http://pubdocs.worldbank.org/en/476891464698315724/Philippe-Aghion-PAPER.pdf">imitating</a> nation into an innovating country.

NITI Aayog to open applications for Atal Innovation Mission for MSMEs, startups and inventors in India

By Debashish Biswas India’s urban population is expected to grow from 377 million in 2011 (31% of total population) to around 600 million or 42% of the total population in 2030. It is estimated that in 2030, for five states – <keyword id="20154" type="General" weightage="20" keywordseo="tamil-nadu" source="Orion">Tamil Nadu</keyword>, Gujarat, Maharashtra, Karnataka and Punjab, urbanisation levels will be more than 50% (Sources: Census of India 2011, McKinsey Global Institute and <keyword id="13071722" type="General" weightage="20" keywordseo="UN-World-Urbanisation-Prospects-2018" source="Orion">UN World Urbanisation Prospects 2018</keyword>). Indian cities will act as the engines of growth for the economy. As highlighted in the National Infrastructure Pipeline, an estimated ₹19,19,267 crores capital expenditure is estimated between FY20-FY25 in <keyword id="557969" type="General" weightage="20" keywordseo="urban-infrastructure" source="Orion">urban infrastructure</keyword> (Source: National Infrastructure Pipeline, Volume 1). Around 21% of this capital expenditure is proposed to be funded through private sector participation. Given this, as part of Budget 2022-23, it is expected that urban sector development will continue to remain as one of the major focus areas. Budgetary allocations are expected to be made for: <ul><li>Strengthening core urban infrastructure – Continued investments to reinforce core urban infrastructure like water supply, solid waste management, urban mobility, among others. Recently, in October 2021, Ministry of Housing and Urban Affairs announced AMRUT 2.0 which focuses on enhancing water connections in around 4800 urban local bodies, sewerage/ septage services in 500 cities as well as rejuvenation of water bodies, green spaces and parks (Source: AMRUT 2.0 guidelines). Further, <keyword id="6735318" type="General" weightage="20" keywordseo="swachh-bharat-mission-urban" source="Orion">Swachh Bharat Mission-Urban</keyword> 2.0 was also announced in October 2021 with the aspiration of making all cities garbage free.</li><li>Housing to remain a key focus area – Housing, specially providing affordable housing for all, remains a key priority for the country. It is also important to provide necessary incentives and improve various regulatory processes to attract private investments in the housing sector, especially in affordable housing.</li><li>Developing smart digital infrastructure in terms of mobility management, digital service delivery, city management, safety and security, environmental management, etc. <keyword id="857936" type="General" weightage="20" keywordseo="emphasis" source="Orion">Emphasis</keyword> may be provided on creating specific digital urban solutions leveraging the data being captured at the city level, specifically in the smart cities where the command control centers are already operational. Also, focus may be provided in creating cloud based shared digital infrastructure at state as well as district level so that even the smaller urban local bodies may get access and leverage digital infrastructure. </li><li>Environment and sustainability focus: Given the focus of building environmentally friendly and resilient cities, the budget may provide specific emphasis on developing sustainable urban areas including increasing green cover, urban forest, water conservation, water recycling, waste reuse, renewable energy usage, energy conservation, etc. On the mobility front, focus may be provided on further developing non-motorized transportation and electric vehicle infrastructure. For facilitating developing environmentally friendly infrastructure, necessary policies and incentives may be considered. Funding available under CSR activities may be leveraged for implementing various environmentally friendly infrastructure at city level.</li><li>Continue municipal reforms: To enable urban infrastructure growth, the ongoing municipal reforms should continue. These include -- a) strengthening municipal bond market – key steps to be undertaken by the urban local bodies are improving financial discipline; accounting reforms; improved governance and augment own source revenues; b) asset monetization and attracting private sector – creating an environment for attracting more private investments; and c) enabling user charges for funding urban infrastructure. Additional incentives may be provided to urban local bodies which undertake such overall reforms proactively. </li></ul>Overall, like last year, the current pandemic calls for a public investment led push for enabling economic growth. The FY 22-23 budget needs to focus on increased spending in overall urban infrastructure &amp; capital assets, which are likely to have a multiplier effect on demand generation and gross domestic product (GDP) growth. Further, higher urban infrastructure spend will improve investment attractiveness, create more employment opportunities and enhance quality of life. Debashish Biswas is Partner with Deloitte Touche Tohmatsu India LLP SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/economic-budget-survey-2022-government-projects-8-to-8-5-growth-rate-in-year-2022-23/slidelist/89242472.cms">India’s Economic Survey projects 8-8.5 percent growth next year, here are other key points to note</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/despite-a-worldwide-chip-shortage-semiconductor-sales-cross-500-billion-for-the-first-time/articleshow/89242629.cms">Despite a worldwide chip shortage, semiconductor sales cross $500 billion for the first time</a>

OPINION: There should be continued focus on building urban infrastructure and sustainable smart cities

PM Narendra Modi’s office has asked all government departments to spot unutilised land, especially in developed government colonies, so that it can be transformed into <keyword id="932911" type="UNKNOWN" weightage="100" keywordseo="affordable-housing-projects">affordable housing projects</keyword>. This move will help boosting the government’s efforts to fulfil the BJP's poll promise of providing affordable housing for all by 2022. 
 
Also read: <a href="http://www.businessinsider.in/markets/economy/infra-status-to-affordable-housing-gives-bathware-industry-reasons-to-cheer/articleshow/57513614.cms">Infra status to affordable housing gives bathware industry reasons to cheer</a> 
 For the promise to turn into reality, the government wants to build a land bank, since most of the times <keyword id="4391328" type="UNKNOWN" weightage="100" keywordseo="housing-project-plans">housing project plans</keyword> fail to get executed because of scarcity of land. 
 
By asking government offices to identify such pieces of land, the <a href="http://www.businessinsider.in/markets/economy/PMO-to-look-into-reasons-for-Indias-bad-performance-in-ease-of-doing-business-list/articleshow/55225454.cms">PMO</a> hopes to add land packets to its land bank, after which state governments can send proposals to buy land for housing projects. 
 
Also read: <a href="http://www.businessinsider.in/Dubais-realty-sector-was-strong-despite-economic-slowdown/articleshow/49692314.cms">Lessons for India: This is how Dubai’s realty sector was strong despite economic slowdown</a> 
 "The <keyword id="6365387" type="ORGANIZATION" weightage="100" keywordseo="PMO">PMO</keyword> is monitoring the progress closely. Our experience is that some states are performing better than others because they already have their beneficiary lists ready and land availability is no problem there. So now directives have gone to all ministries to prepare a list of colonies where new houses can be built," a senior government official told <a href="http://economictimes.indiatimes.com/news/politics-and-nation/pmo-seeks-to-spot-vacant-lands-to-push-affordable-housing/articleshow/58055915.cms">ET</a>. 
 
Since government colonies already have basic amenities, and there won’t be issues of delayed approvals, the <a href="http://www.businessinsider.in/yourmoney/spending/Indian-Govts-ambitious-urban-development-plan-gets-Rs-25000-crore-push/articleshow/54828024.cms">urban development </a>ministry is trying to identify land within these colonies. 
 
Also read: <a href="http://www.businessinsider.in/indians-pay-too-much-interest-on-home-loans-reveals-study/articleshow/57936834.cms">Indians pay too much interest on home loans, reveals study</a> 
 
Across 30 states and Uts, the Centre has so far approved housing projects worth Rs 90,000 crore, with construction of 16.42 lakh affordable houses. Out of all the states, Tamil Nadu is leading the initiative with 2.27 lakh houses, followed by Andhra Pradesh (1.94 lakh houses) and Madhya Pradesh (1.81 lakh houses). 
 
"With this initiative we hope to tell the states, you have this land available at a certain place. Now send us a proposal because even if it is central land we will get the approvals done. This will hopefully increase the pace of implementation," the official added. 
 
Also read: <a href="http://www.businessinsider.in/under-construction-flat-tax-relief/articleshow/52673323.cms">Your under-construction flat could finally provide you some relief</a> 
 
(Image source 99Acres)

All government departments directed to spot vacant lands for more affordable housing projects

The <a href="http://www.businessinsider.in/searchresult.cms?query=prime+minister+narendra+modi&amp;sortorder=effectivedate">Prime Minister Narendra </a><a href="http://www.businessinsider.in/searchresult.cms?query=prime+minister+narendra+modi&amp;sortorder=effectivedate">Modi</a>-led Indian Government is planning to help the urban poor pay the house rent. It is going to roll out a scheme in which the <a href="http://www.businessinsider.in/searchresult.cms?query=Indian+government&amp;sortorder=effectivedate">Centre </a>will give rent vouchers to the urban poor. 
 
The Rs 2,700-crore welfare scheme will be launched across 100 <a href="http://www.businessinsider.in/searchresult.cms?query=smart+cities&amp;sortorder=effectivedate">smart cities</a> for <a href="http://www.businessinsider.in/searchresult.cms?query=below+poverty+line&amp;sortorder=effectivedate">below poverty line</a> (BPL) families. 
 Under the scheme, which is likely to cost Rs 2,713 crore every year to implement in <keyword id="6377036" type="UNKNOWN" weightage="20" keywordseo="smart-cities">smart cities</keyword>, the tenant would give these vouchers to the landowner, who in turn would be able to redeem them at any citizen service bureau. If the rent is higher than the value of rent voucher, the tenant would pay the difference in cash to the landowner. 
 
According to Census 2011, about 27.5% of urban residents lived in rented houses in 2011. 
 
A senior official of housing and urban poverty alleviation ministry told ET, "The rental voucher scheme is being looked at as a means to complement the Prime Minister Housing for All scheme.” 
 
"The recent implementation of the Benami Properties Act and rules open up another option for rental housing. An enabling provision would be inserted in the rules that houses confiscated by Central government which cannot be auctioned, could be let out by the Central government or through state governments as rental housing for the middle income group (MIG), LIG and economically weaker section (EWS) depending on the suitability and location of such properties,” the official told ET.

Indian Govt may pay rent for urban poor in 100 cities; issue vouchers

Are you tired of carrying ‘n’ numbers of cards as soon as you leave your house? The government has come out with a solution. The <keyword id="162100" type="ORGANIZATION" weightage="80" keywordseo="Ministry-of-Urban-Development">Ministry of Urban Development</keyword> has launched a NCMC model to enable seamless travel by metros and other transportation systems across the country. 
 
You can use the same card based on the Smart National Common Mobility Card (NCMC) model for shopping as well. This card does away with the need for carrying separate cards for banking and transit requirements. 
 
<a href="http://www.businessinsider.in/searchresult.cms?query=Urban+Development+Minister+M+Venkaiah+Naidu+">Urban Development Minister M Venkaiah Naidu</a> has approved the 'EMV Open Loop Card with stored value' for this initiative. 
 
Earlier, Naidu had set up a committee chaired by the additional secretary in the ministry to find an inter-operable mobility card that can be used across different transport systems in India and which can also be used as a <a href="http://www.businessinsider.in/searchresult.cms?query=credit+or+debit+card+">credit or debit card</a> as well. 
 This committee had representatives of <keyword id="6373306" type="ORGANIZATION" weightage="60" keywordseo="National-Informatics-Centre">National Informatics Centre</keyword> (NIC), <keyword id="1306047" type="ORGANIZATION" weightage="40" keywordseo="Centre-for-Development-of-Advance-Computing">Centre for Development of Advance Computing</keyword> (C-DAC), <keyword id="59330" type="ORGANIZATION" weightage="80" keywordseo="Bureau-of-Indian-Standards">Bureau of Indian Standards</keyword> (BIS), National Payment Corporation of India (NCPI) and the <a href="http://www.businessinsider.in/searchresult.cms?query=Ministry+of+Finance">Ministry of Finance</a>. 
 
After studying different models used across the world, the committee has recommended the EMV Open Loop Card with stored value. 
 
This Smart Common Mobility Payment Card addresses the deficiencies associated with other cards being used in <a href="http://www.businessinsider.in/searchresult.cms?query=Singapore+">Singapore</a> and other countries. This card meets travel needs based on stored value of money. The card can be used for travelling by any means of transport and also enables account based retail applications. 
 Globally, there is no nationwide common card except in <keyword id="6356662" type="COUNTRY" weightage="60" keywordseo="Singapore">Singapore</keyword> where in inter-operability is confined to the city only. The committee has therefore recommended the EMV Open Loop Card with stored value for use across the country. 
 The ministry has decided to task the <keyword id="394949" type="CITY" weightage="60" keywordseo="National-Payments-Corporation">National Payments Corporation</keyword> of India with indigenous development and management of clearing and settlement of payments, simulating cards, terminals and network, a support base of vendors for providing certified tools, cards, terminals and other services, in line with the <a href="http://www.businessinsider.in/searchresult.cms?query=%27Make+in+India%27+">'Make in India'</a> initiative. 
 
(Image: Indiatimes)

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