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It is no secret that women often outlive men. The global average life expectancy in 2021 was about 68.4 years for men. In contrast, this stood at 73.8 years for women. As such, it is far more important for women to begin planning for their golden years as early as possible. Perhaps realizing this, more women are getting into investing than ever before! Even better, women save about 5% more each month than men. A recent Max Life's India Retirement Index Study (IRIS 4.0) also highlighted a similar sentiment: women are increasingly taking charge of their retirement and finances. Per the study, urban Indian working women are now keeping pace with men, with 66% being confident that their current investments will guarantee a financially secure retirement life. In terms of health, 48% of urban Indian working women feel confident that they will continue to stay fit and healthy in their retirement years. Encouragingly, a whopping 68% of urban Indian women have already started investing for their retirement. Amongst their preferred investment avenues are life insurance (65%), bank FDs/RDs (45%), medical insurance (36%), and mutual funds and SIPs (14%). The awareness is not limited to women; young urban Indians are awakening to the realization that retirement planning should be kicked off as soon as possible. Per IRIS 4,0, 44% of Indians consider the right age to start planning for retirement to be before 35 years, a jump from 38% in IRIS 3.0. An overwhelming 93% of respondents aged above 50 regret delaying their retirement planning. Says Priyanka Bhatia, Co-Founder of Women on Wealth, "Women, by and large, live longer than men and may confront professional interferences, which influence retirement reserve funds essentially. Beginning in your 20s permits women to create strategies that account for longevity risks and potential income gaps. Investments like annuities and dividend-paying assets guarantee a consistent income stream post-retirement, permitting ladies to explore monetary freedom even in later years.". Not to mention, beginning early also permits individuals to take advantage of tax-efficient investments over a more drawn-out period. In India, instruments like the National Pension Scheme (NPS) offer tax benefits that develop over the long haul. By expanding these exceptions from a young age, women can grow their retirement reserve funds while reducing taxable income in each financial year. Bhatia notes that even if one is planning to retire early, it does not only mean putting something aside for your 60s. It is also about adaptability to pick semi-retirement choices, work in sectors driven by passion, or even pursue entrepreneurial ventures without financial pressure. "Beginning in your 20s allows you to amass funds that can allow for early retirement, empowering a change to lifestyle-oriented work or community contributions later in life," Bhatia signs off.

Planning for your retirement in your 20s? Here's why it is a smart move!

For most of us, heading out used to be an everyday ritual, but COVID-19 has left an unexpected impact — many people are staying home more often, and this shift might just be the “new normal.” A recent study reveals that, compared to pre-pandemic life, people are spending almost an hour less each day on activities outside the home. Additionally, people are spending about 12 fewer minutes a day on travel. Researchers analysed a survey of 34,000 Americans, finding that this trend toward staying home reflects a larger shift that had already begun but has accelerated significantly due to COVID-19. The study shows a lasting change: while some out-of-home activities have slightly bounced back since the peak of the pandemic in 2021, Americans are still spending about 53 minutes less outside the home than they did in 2019. In 2023, the amount of time people spend outside remains considerably lower than before the pandemic, with <keyword id="23763147" type="General" weightage="20" keywordseo="in-home-activities" source="keywords">in-home activities</keyword> taking up more of the day. <h2>The new routine</h2>This drop in out-of-home time is partly due to more people working and shopping from home. The study found a marked decrease in out-of-home activities like work and shopping. With <keyword id="20665553" type="General" weightage="20" keywordseo="remote-work" source="keywords">remote work</keyword> becoming more popular and online shopping more efficient than in-person errands, people are finding fewer reasons to go out. The researchers suggest that cities may need to rethink their policies around commercial and residential spaces, relaxing restrictions on converting offices into housing and creating more space for delivery services rather than traditional commuter parking. <div type="Article" hostid="261" msid="114823699" title="Uber drops after its bookings results and forecast fail to impress" mstype="2" mssubtype="0"></div>The authors of the study see this as an opportunity for cities to embrace a new role as “centers of consumption.” Since office workers are no longer essential to urban economies, central cities may focus more on their appeal as hubs for recreation, culture, and dining — areas that can attract residents who choose to live in more urban settings. This shift could also make cities more affordable by reducing housing and transport costs. Technology advancements played a significant role in this new preference for staying in. During the pandemic, people adapted quickly to working, socialising, and even exercising at home. For example, sales of <keyword id="20751231" type="General" weightage="20" keywordseo="home-gym" source="keywords">home gym</keyword> equipment surged, and now many people are working out at home rather than visiting gyms. Meanwhile, activities like TV watching did not rise post-pandemic as much as one might expect, with only a brief increase in screen time at the height of COVID. <h2>Less commuting, fewer emissions</h2>The study also shows a continued decrease in travel time, which initially dropped due to fewer commutes. Even as the world reopens, travel hasn’t bounced back completely, indicating that people are limiting outings beyond work as well. This decrease in driving and public transport use could have <keyword id="21198065" type="General" weightage="20" keywordseo="environmental-benefits" source="keywords">environmental benefits</keyword>, including lower emissions and fuel consumption. However, it raises questions about the potential downsides of extended time at home, such as <keyword id="20787438" type="General" weightage="20" keywordseo="social-isolation" source="keywords">social isolation</keyword>. <div type="Article" hostid="261" msid="114822872" title="I&amp;#39;m an American who&amp;#39;s lived in South Korea for 10 years. Here are 9 things I don&amp;#39;t miss about the US." mstype="2" mssubtype="0"></div>As more people choose to stay in, the researchers suggest that cities may need to adapt by focusing less on peak travel demands and more on pedestrian and cyclist safety, as well as accessible services for lower-income residents. These adaptations could improve urban life, particularly in dense areas where the need for safer and more walkable spaces is high. The study’s authors point out that, although this trend toward “cocooning” at home has been growing for years, the pandemic has caused a much steeper drop than expected. Moving forward, cities and communities may need to embrace this new lifestyle by designing policies and spaces that cater to a society that prefers staying home— whether it’s about creating vibrant urban hubs or ensuring services are available to all residents. While only time will tell if this trend endures, one thing is clear: staying in has reshaped our daily lives and could change the face of our cities in the years to come. The findings of this research have been published in the Journal of the American Planning Association and can be accessed <a href="http://dx.doi.org/10.1080/01944363.2024.2385327">here</a>.

The COVID-19 pandemic has made people more reluctant to go out, study finds

The government on Tuesday proposed a <keyword id="20789519" type="General" weightage="20" keywordseo="transit-oriented-development" source="keywords">transit-oriented development</keyword> plan for 14 large cities with a population of over 30 lakh in its budget for 2024-25 and said it will formulate a framework for the creative redevelopment of cities. Presenting the Budget in the Lok Sabha, Finance Minister <keyword id="19916618" type="General" weightage="20" keywordseo="nirmala-sitharaman" source="keywords">Nirmala Sitharaman</keyword> underscored that the Union government will work with states to facilitate the development of cities as "growth hubs". "This will be achieved through economic and transit planning, and orderly development of peri-urban areas utilising <keyword id="22517779" type="General" weightage="20" keywordseo="town-planning-schemes" source="keywords">town planning schemes</keyword>", the minister said. "Transit-oriented development plans for 14 large cities with a population above 30 lakh will be formulated, along with an implementation and financing strategy," Sitharaman said in her budget speech. The minister also announced Central assistance of Rs 2.2 lakh crore for <keyword id="20957520" type="General" weightage="20" keywordseo="urban-housing" source="keywords">urban housing</keyword> over the next five years as well as an <keyword id="22517780" type="General" weightage="20" keywordseo="interest-subsidy-scheme" source="keywords">interest subsidy scheme</keyword> to facilitate loans at affordable rates for urban housing works. She said the Central government will put in place measures for an efficient and transparent <keyword id="20071228" type="General" weightage="20" keywordseo="rental-housing" source="keywords">rental housing</keyword> market with enhanced availability. The minister proposed a scheme to support the development of 100 weekly haats or street food hubs in select cities. Sitharaman added that rental housing with dormitory type accommodation for industrial workers will be facilitated in PPP (public-private partnership) mode with VGF (viability gap funding) support and commitment from anchor industries." Enabling policies and regulations for efficient and transparent rental housing markets with enhanced availability will also be put in place, she said. About <keyword id="19939560" type="General" weightage="20" keywordseo="water-supply" source="keywords">water supply</keyword> and <keyword id="20082835" type="General" weightage="20" keywordseo="sanitation" source="keywords">sanitation</keyword>, the minister announced that the Centre in partnership with state governments and multilateral development banks will promote water supply, sewage treatment and <keyword id="19973309" type="General" weightage="20" keywordseo="solid-waste-management" source="keywords">solid waste management</keyword> projects and services for 100 large cities through bankable projects. According to her, these projects will also envisage use of treated water for irrigation and filling up of tanks in nearby areas. The minister stressed that the Central government will encourage states, which continue to charge high stamp duty, to moderate the rates for all, and also consider further lowering duties for properties purchased by women. This reform will be made an essential component of urban development schemes, she added.

Budget 2024-25: Govt announces transit-oriented development plan for large cities

Sustainable Urban Planning

As Mumbai, India's financial capital, witnessed vertical growth over the years with highrises dotting its skyline, some 'gaothans' (villages) have held onto their heritage and legacy. Ranwar, in the heart of Bandra, is one such village that has resisted the urge to make way for towering structures. Dwarfed by highrises, the East Indian-majority village has narrow streets lined with old quaint bungalows and crosses outside homes. With jazz music streaming in the air, walking around the area can transport you to a simpler time. While Bandra developed rapidly and became home to Bollywood's elite and a burgeoning street shopping hub, residents of Ranwar maintained their old bungalows. The coexistence, however, has come at a price, causing traffic issues and crowding. And now, plans are afoot to give the 300-year-old village a facelift while preserving the past. Talking to PTI, <keyword id="23283968" type="General" weightage="20" keywordseo="Johan-Dharmai" source="Orion">Johan Dharmai</keyword>, BJP secretary and a member of the East Indian community, said, "Locals want to preserve the heritage. One of the steps in the facelift plan is to close vehicle movement and build a walkway so that tourists can take a stroll and enjoy the architecture." Though many houses in Ranwar are now being redeveloped, Veronica Street has maintained its old-world charm. It has a square erected in 1866. However, honking rents the air on this street, as motorists see it as a shortcut to Bandra Reclamation and other areas. Mehboob Studio is just a stone's throw away, and senior citizens living on Veronica Street recall seeing actors Helen and Zeenat Aman around Ranwar. A beautification, restoration and conservation project is being initiated to improve safety, regulate traffic and create awareness about the centuries-old village. Mumbai BJP president and <keyword id="20238930" type="General" weightage="20" keywordseo="Bandra-West" source="keywords">Bandra West</keyword> MLA Ashish Shelar recently met locals to discuss ways to move the project forward. "The beauty of Bandra West is its 'gaothans'. The heritage needs to be protected and showcased. I have asked the government to allocate funds from the District Planning Development Committee (DPDC). <keyword id="23283965" type="General" weightage="20" keywordseo="Ranwar-Village" source="keywords">Ranwar village</keyword> will get a facelift. The work has begun on roads, CCTV cameras, street light illumination, parking and traffic plan will be in place with the help of locals and architects," Shelar told PTI. <keyword id="23283967" type="General" weightage="20" keywordseo="Architect-Samir-DMonte" source="keywords">Architect Samir D'Monte</keyword> has been working with the Ranwar Veronica Street Residents' Association since 2009, and they identified a range of problems that the area faced. D'Monte said improvements were made to open spaces and common areas, roads, sewage and drainage systems, street signage, street lighting and traffic and parking management. Apart from this, individual houses were restored, and an innovative fire system was also introduced. Locals say most residents are senior citizens and want to live peacefully without disturbances by motorists. Kaevan Umrigar of Khaki Tours, who works to create awareness about Mumbai's heritage, said Bandra comprised 23 gaothans that housed fisher folk, Kunbis (a farming community) and the agris community who had salt pans. "Ranwar was a farming village, and the area had paddy fields. Later, these paddy fields made way for urban settlements. These little villages are now trapped in the city. Now, only 10 to 15 gaothans in Bandra have survived," he said. But preserving heritage comes at a cost, and if a 'gaothan' comes under heritage guidelines, it becomes difficult to upgrade a home in the area or live a modern life, Umigar said, adding that heritage should be made attractive by tapping the tourism potential of these areas. 'Gaothans' in Mumbai and the larger Mumbai metropolitan region (MMR) are urban villages that house the city's original inhabitants. The Mumbai suburban district collector and Brihanmumbai Municipal Corporation (BMC) have been roped in for Ranwar's facelift plan. Umigar calls land scarcity a threat to 'gaothans', with only 100 left in the city. "When someone wants to develop gaothans, they want to do it vertically. There is a constant battle between heritage and development. They (villages) survive because the houses are tightly packed and on narrow lanes. So individual houses are not attractive for redevelopment, and parking becomes an issue," he said.

300-year-old Bandra village to get facelift to conserve its glorious past

<ul class="summary-list"><li>NYC is far behind on requirements to build bike and bus lanes, among other non-car infrastructure.</li><li>This comes after Gov. Kathy Hochul suspended a new toll on vehicles in Manhattan below 60th Street.</li></ul>As urban dwellers around the world turn to two wheels to get around their cities, some governments are handling the shift better than others. The number of <keyword id="22853778" type="General" weightage="20" keywordseo="bicycle-trips" source="keywords">bicycle trips</keyword> in Paris <a target="_blank" class="" href="https://www.lemonde.fr/les-decodeurs/article/2023/11/11/a-paris-la-frequentation-des-pistes-cyclables-a-double-en-un-an_6199510_4355770.html">doubled</a> between 2022 and 2023, thanks to a <a target="_blank" class="" href="https://www.bloomberg.com/news/articles/2021-10-22/how-paris-will-become-100-cyclable">massive expansion</a> of the French capital's bike lane network. Tourists in town for the Olympics <a target="_blank" class="" href="https://slate.com/culture/2024/08/olympics-paris-games-bike-infrastructure-cycling-streets-safety-transportation.html?via=rss">are encouraged to cycle</a> to the Games. <keyword id="19901403" type="General" weightage="20" keywordseo="New-York-City" source="keywords">New York City</keyword> has also seen <a target="_blank" class="" href="https://momentummag.com/new-york-city-leads-the-way-as-new-report-shows-surge-in-cycling-across-the-u-s/">a surge in bicycling</a> since the pandemic caused many to avoid mass transit and ride shares. The success of the Citibike bike share program is <a target="_blank" class="" href="https://www.curbed.com/2023/05/citi-bike-nyc-ridership-10-years.html">a huge part of that change</a>. But anyone who hops on two wheels in New York is facing more dangerous and congested roads than in other leading global cities. The city Department of Transportation — which controls the streets, but not trains and buses — is behind on its longer-term plan to boost pedestrian and bike infrastructure. The city's five-year NYC Streets Plan, which became law in 2019, requires the city to build 250 miles of <keyword id="22853779" type="General" weightage="20" keywordseo="protected-bike-lanes" source="keywords">protected bike lanes</keyword> by 2026, among other safe streets priorities. So far this year, the city has completed just 2.3 miles of protected lanes, <a target="_blank" class="" href="https://projects.transalt.org/bikelanes">according to the advocacy group Transportation Alternatives</a>. Last year, it built 38.6 miles of 50 required miles of protected <keyword id="22853777" type="General" weightage="20" keywordseo="bike-lanes" source="keywords">bike lanes</keyword> and in 2022 it built 19.9 miles of the 30 miles it was required to build. At this time last year, it had built <a target="_blank" class="" href="https://www.instagram.com/p/CvH-_LFOkMP/?igsh=MWc3b244NDJxejk5MA%3D%3D">9.7 miles of lanes</a>. The city DOT told Business Insider that most bike lane construction happens in the second half of the year because of weather issues, and it disputed the 2.3-mile figure. But the department didn't provide an estimated number of bike lane miles it expects to complete this year. DOT noted that it built more protected lanes last year "than every major American city combined." Adams isn't just required by law to build bike lanes. He <a target="_blank" class="" href="https://www.amny.com/news/eric-adams-seeks-the-cycling-vote-with-a-promise-for-300-miles-of-bike-lanes/">campaigned for mayor on a promise</a> to build 300 miles of protected lanes in his first four-year term. And the funding for the Streets Plan — more than $900 million — has already been allocated to DOT. The Adams administration has also <a target="_blank" class="" href="https://www.nyc.gov/html/dot/downloads/pdf/nyc-streets-plan-update-2024.pdf">fallen behind</a> on other priorities in the Streets Plan, including building dedicated bus lanes and upgrading bus stops. Advocates say the slow pace of progress comes down to politics. "The money is there, the law is there, but the mayor doesn't seem to be there," said Elizabeth Adams, interim director of Transportation Alternatives. "And that's really what's holding this up." The city has made progress in some areas. A DOT spokesperson noted to Business Insider that the city has built "over a million square feet of pedestrian space over two years, exceeding the target in the Streets Plan." New York's plan to impose a new toll — known as congestion pricing — on vehicles that drive in Manhattan's central business district would have been a boon for more sustainable modes of transport. Fewer cars and trucks on the street means more space for bikers and pedestrians. Since London implemented congestion pricing 20 years ago, daily car trips have fallen while <a target="_blank" class="" href="https://www.bloomberg.com/news/articles/2024-02-23/london-bike-boom-risks-becoming-a-victim-of-its-own-success">bicycling trips have quadrupled</a>. But since New York Gov. Kathy Hochul abruptly <a target="_blank" class="" href="https://www.nytimes.com/2024/06/05/nyregion/congestion-pricing-pause-hochul.html">suspended</a> the congestion pricing plan she had <a target="_blank" class="" href="https://www.youtube.com/watch?v=sYQSH5E5p5Y">long celebrated</a>, a less congested future — not to mention at least <a target="_blank" class="" href="https://www.nytimes.com/2024/08/08/nyregion/subway-mta-finances-congestion-pricing.html">$15 billion</a> for the city's subways and buses — is on hold. In May, weeks before the city was set to implement congestion pricing, the DOT unveiled <a target="_blank" class="" href="https://www.nyc.gov/html/dot/html/pr2024/connect-core-access-business-district.shtml#:~:text=A%20report%20detailing%20this%20work,%2C%20safer%2C%20and%20more%20convenient.">a plan</a> to improve pedestrian and bike infrastructure to give New Yorkers better access to Manhattan below 60th street. The city insists it's moving forward with its plans despite the governor's about-face, and Adams said <a target="_blank" class="" href="https://ny1.com/nyc/all-boroughs/politics/2024/06/11/mayor-adams-congestion-pricing-hochul">he supported</a> Hochul's reversal on congestion pricing. "We are continuing to develop these projects regardless of the pause. Many are either in construction, or will start construction soon," a spokesperson for DOT told Business Insider in a statement. Advocates for mass transit and pedestrian and bicycle infrastructure say the safety and environmental impact of traffic is a crisis. New York was the most congested city in the world for the second year in a row, according to <a target="_blank" class="" href="https://inrix.com/scorecard/">one major study</a>. Congestion and crowding in the city "is very much at a breaking point," said Adams, of Transportation Alternatives. "We should be doing everything we can to make it easier to get around outside of a car," she added. <h2>Traffic deaths overtake gun deaths in NYC</h2>These days, biking doesn't feel like a viable option for many New Yorkers worried about safety. The city streets were <a target="_blank" class="" href="https://ny.pbslearningmedia.org/resource/cars-and-robert-moses-transform-nyc-video/new-york-documentary-film/">designed to maximize vehicle speed</a> rather than to get as many New Yorkers around as efficiently and safely as possible. Bikers have to contend with <a target="_blank" class="" href="https://transalt.org/press-releases/new-data-shines-light-on-the-growing-dangers-and-growing-ownership-of-suvs-in-new-york-city#:~:text=In%202016%2C%20SUVs%20were%20slightly,consequences%20for%20vulnerable%20road%20users.">larger cars</a>, <a target="_blank" class="" href="https://www.bloomberg.com/news/features/2023-01-06/welcome-to-the-age-of-extreme-acceleration?srnd=citylab">more speeding</a>, a surge in <a target="_blank" class="" href="https://nyc.streetsblog.org/2024/04/25/dot-will-spend-11m-to-boost-off-hour-deliveries">delivery trucks</a>, and a rash of speeding <a target="_blank" class="" href="https://www.nytimes.com/2024/05/27/nyregion/street-wars-e-bikes.html">mopeds and e-bikes</a>. While New York City streets have generally gotten safer since the city adopted its 'Vision Zero' plan in 2014 to eliminate traffic deaths and serious injuries in 2014, progress hasn't been consistent. Pedestrian deaths are <a href="https://www.nytimes.com/2024/07/30/nyregion/traffic-deaths-vision-zero.html" target="_blank">way up so far in 2024</a>. This year, New Yorkers were <a target="_blank" class="" href="https://gothamist.com/news/cars-prove-far-deadlier-than-guns-in-nyc-so-far-this-year">more likely to be killed in a traffic crash</a> than by gun violence. While pedestrian deaths fell <a target="_blank" class="" href="https://www.bloomberg.com/news/features/2024-03-11/new-york-city-s-decade-long-battle-for-pedestrian-safety">last year</a>, <a target="_blank" class="" href="https://www.nytimes.com/2024/03/05/nyregion/nyc-cyclist-deaths-ebike.html">more bicyclists died</a> on New York City's streets in 2023 than in any year since 1999, although a DOT spokesperson noted that cyclist deaths are "down nearly 37% so far this year." Cities like Paris, London, Tokyo, and Bogotá have proven how essential — and beneficial — pedestrian and <a target="_blank" class="" href="https://www.wired.com/story/most-bike-friendly-cities-2019-copenhagenize-design-index/">multi-modal infrastructure</a> is to a healthy city. Better bike and pedestrian infrastructure doesn't just mean safer streets and cleaner air — they're also <a target="_blank" class="" href="https://www.businessinsider.com/bike-lanes-good-for-business-studies-better-streets-2024-3">good for business</a>. Advocates say New Yorkers should follow their lead. "What New York City can learn is that when you commit to comprehensive bike infrastructure, it works," Elizabeth Adams said. "People are happier and it boosts the economy, and the streets are safer, and the air is cleaner, and people shift modes very quickly." Note: Correction: August 14, 2024 — This article has been updated to clarify that pedestrian deaths are higher this year, rather than traffic deaths, and added additional context around the city's building of pedestrian infrastructure and recent cyclist death counts.

Urban biking is booming around the world, but New York City is falling behind

As the fast-approaching southwest monsoon gradually drowns out the summer, it will also help ease and then erase the memories of a brutal season past. Even then, an unease is expected to continue lingering in the minds of most Indians: something just wasn’t right this year. Studies have already shown time and again that deadly heat is becoming a frequent phenomenon in India. With temperatures expected to touch a scorching 54°C, extreme conditions are rendering an increasing number of places unliveable. This includes India’s highly developed metro cities, which are dealing with their own set of unique heat troubles. Delhi-based think tank Centre for Science and Environment (CSE) has shed light on an alarming trend: not only are <keyword id="21052325" type="General" weightage="20" keywordseo="heatwaves" source="keywords">heatwaves</keyword> are becoming deadlier in India’s major cities, temperatures aren’t dropping enough to provide sufficient respite at night either. <cmsannotation type="cmsannotation" annotationid="Deadlier heatwaves" comment="subhead" text="Deadlier heatwaves">Deadlier heatwaves</cmsannotation> Spanning over 23 years from January 2001 to April 2024, the study meticulously analysed data from Delhi, Mumbai, Kolkata, Hyderabad, Chennai, and <keyword id="6354321" type="General" weightage="20" keywordseo="bengaluru" source="Orion">Bengaluru</keyword>. While their air temperatures haven’t witnessed a dramatic rise during the specified period, these areas have continued to witness an increase in their relative <keyword id="20237161" type="General" weightage="20" keywordseo="humidity" source="keywords">humidity</keyword>. The researchers think that this may also be heightening the <keyword id="21177615" type="General" weightage="20" keywordseo="heat-stress" source="keywords">heat stress</keyword> — a measure combining air and land temperatures along with relative humidity — and intensifying the discomfort and <keyword id="19977451" type="General" weightage="20" keywordseo="health-risks" source="keywords">health risks</keyword> for the city’s inhabitants. Another of the main culprits behind the discomfort in Indian metros may be due to the way <keyword id="21384366" type="General" weightage="20" keywordseo="urban-sprawl" source="keywords">urban sprawl</keyword> has spread massively in the past few years. The CSE study found that the rapid expansion of urban areas has led to a significant reduction in <keyword id="20113356" type="General" weightage="20" keywordseo="green-cover" source="keywords">green cover</keyword>, coupled with a surge in concrete surfaces. In cities like Chennai, green spaces have dwindled by nearly 14% over the past two decades, while concrete infrastructure has doubled. Even Bengaluru, a city earlier famed for its abundance of garden-like spaces, has only 7% green cover left, an earlier IISc study had found. This transformation contributes to the "<keyword id="21843173" type="General" weightage="20" keywordseo="urban-heat-island-effect" source="keywords">urban heat island effect</keyword>," where concrete-trapped heat is making urban regions notably warmer than their rural counterparts. <cmsannotation type="cmsannotation" annotationid="Minimums on the rise" comment="subhead" text="Minimums on the rise">Minimums on the rise</cmsannotation> However, what’s particularly concerning is the decline in nighttime cooling. Historically, cities would cool down considerably at night, providing much-needed relief from the daytime heat. However, the study reveals that this cooling effect has substantially decreased, exposing residents to prolonged periods of high temperatures without respite. The continuous exposure to heat, compounded by high humidity, exacerbates health risks, making heat stress and related illnesses more prevalent and potentially deadly at lower temperatures. The health implications are dire. The study observed an increase in the number of days with a heat index — what the weather “feels like” — surpassing 41°C in cities such as Kolkata and Chennai. Furthermore, the monsoon season, once a period of relief, now brings hotter and more humid conditions in some cities compared to the pre-monsoon months. As most might know, high humidity undermines the body’s ability to cool itself through sweating, increasing the risk of heat stress and related illnesses In response to these findings, CSE Executive Director Anumita Roychowdhury highlighted the necessity for in-depth assessments of heat trends, relative humidity, land surface temperatures, and diurnal temperature variations. These assessments are crucial for developing effective heat management plans that extend beyond emergency responses to encompass long-term strategies, such as expanding green spaces, enhancing water bodies, and improving thermal comfort in buildings. The study also called for reversing detrimental land use patterns and implementing scientifically grounded measures to monitor and mitigate urban heat stress. The time for action is now, as the repercussions of inaction could be devastating for millions residing in India's rapidly growing urban centers. The CSE report can be found <a href="https://www.cseindia.org/content/downloadreports/12191" data-type="tilCustomLink">here</a>.

Feeling like nights are getting too uncomfortable? New report confirms that nighttime temperatures aren’t dipping enough

<ul><li><keyword id="19897349" type="General" weightage="20" keywordseo="Ola-Electric" source="keywords" meta.keywordsubtype="org" meta.entityname="Ola Electric" meta.hostid="153" meta.entityid="Ola Electric">Ola Electric</keyword> has announced its plans to expand its sales and service infra to 10,000 outlets.</li><li>The company said it plans on reaching this by the end of 2025 and has initiated a network partner programme.</li><li>The programme is aimed at pushing sales into tier-2 and tier-3 cities.</li></ul>Bhavish Aggarwal-led Ola Electric on Thursday said it will establish 10,000 sales and service outlets by the end of 2025 to expand its reach across smaller cities and towns. The electric two-wheeler maker said it has initiated a network partner programme aimed at taking EV sales further into tier-2 and tier-3 cities, including urban pockets where EV penetration remains low. Under the initiative, the company has reportedly on-boarded 625 partners to expand its sales footprint across India, it said in a statement. The company further plans to have 1,000 partners ahead of the festive season this year, it added. <div type="twitter" handle="bhash" handlename="bhash" favoritecount="0" retweetcount="0" id="1839215479480549447"></div> Ola Electric said it aggressively plans to expand its network by on-boarding 10,000 partners, across sales and service, by the end of 2025. This, the company claims will give it an edge over its competitors. The company currently has around 800 company-owned stores, and with the network partner programme, it will have nearly 1,800 sales and service touch points ahead of the upcoming festive season. "Our D2C model has been extremely successful in driving sustainable business growth. The Network Partner Program will further amplify the benefits of our D2C network as it requires limited capital investment from partners and can be scaled up really fast," Ola Electric Chairman and MD Bhavish Aggarwal stated. While the company-owned stores will be the anchors of sales and service network, this programme will be instrumental in expanding the EV footprint deeper into the urban and rural markets, he added. "We will continue to expand and invest in our front-end network to accelerate EV adoption to #EndICEAge, and by the end of next year, will have 10,000 Network Partners across the country," Aggarwal said. Ola Electric sells electric scooters and bikes priced from ₹74,999 to ₹1,99,999. Ola Electric reported a sale of 27,506 units in August 2024, up from 18,749 vehicles sold in August 2023, reporting a 46.7% year-on-year growth. This is however lower than its July 2024 sales of 41,711 vehicles. The sale of <keyword id="19895203" type="General" weightage="20" keywordseo="electric-vehicles" source="keywords">electric vehicles</keyword> has slowed down, amid reduced subsidies, an increase in customer issues with the vehicles and more. With inputs from agencies. SEE ALSO: <a href="https://www.businessinsider.in/business/telecom/news/airtel-is-using-ai-powered-technology-to-block-spam-calls-and-messages/articleshow/113691942.cms">Airtel is using AI-powered technology to block spam calls and messages</a> <a href="https://www.businessinsider.in/stock-market/webstories/diffusion-engineers-ipo-quick-review-ipo-gmp-risk-factors-and-more/slidelist/113687580.cms">Diffusion Engineers IPO quick review – IPO GMP, risk factors and more</a> <a href="https://www.businessinsider.in/stock-market/news/manba-finance-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/113667907.cms">Manba Finance IPO allotment – How to check allotment, IPO GMP, listing date and more</a>

Ola Electric plans to expand sales and service infra to 10,000 outlets by 2025-end

<ul class="summary-list"><li>Harris has proposed expanding the small business tax credit from $5,000 to $50,000.</li><li>Experts told BI the proposal would shift the timing of deductions and isn't all that pricey.</li></ul>Patricia Oswlad, 55, and her husband have spent years building up their retirement fund. But when Oswald decided to launch a small business in the fall of 2022, the couple liquidated some of their assets to fund the company, throwing their financial planning to the wind.With fewer than five weeks until Election Day, Vice President Kamala Harris is <a target="_blank" class="" href="https://www.businessinsider.com/kamala-harris-small-businesses-tax-breaks-cut-red-tape-2024-9">making a targeted pitch to entrepreneurs</a> like Oswald, who are burdened by startup expenses. She even mentioned a key proposal in her opening answer at the presidential debate: expand the small business tax credit 10-fold, from $5,000 to $50,000.In a pamphlet on her economic plan, dubbed the <a target="_blank" class="" href="https://www.businessinsider.com/what-you-need-to-know-about-kamala-harris-opportunity-economy-2024-9">"Opportunity Economy,"</a> Harris explains that she would let business owners take advantage of the $50,000 tax deduction right away or a few years after launching, to help lower taxes once they start turning a profit. The proposal, <a target="_blank" class="" href="https://www.businessinsider.com/harris-added-policy-website-before-trump-debate-venture-capital-startups-2024-9">like many of her others</a>, would need <a target="_blank" class="" href="https://www.businessinsider.com/kamala-harris-senate-races-ted-cruz-rick-scott-2024-9">congressional</a> approval.Oswald told Business Insider the credit would have been "invaluable" in getting Brisa Systems, which offers powered drying racks, off the ground.<h2 id="7006e4c2-613d-4eb9-8fc4-ad020faacaad">Harris' proposal shifts the tax timeline for entrepreneurs.</h2>Tax experts told BI that enacting the credit would mean a change in timing more than anything else. Under current law, small businesses can deduct up to $5,000 in expenses immediately and must deduct any future expenses against their income over 15 years. Harris' proposal would let entrepreneurs deduct more money quickly.Owners have expenses before even launching their business, and the deduction would help cover those costs.Rhett Buttle, the co-executive director of Small Business Roundtable and a former business advisor for President Joe Biden, told Business Insider that startup costs accumulate in three primary areas: marketing, basic equipment, and hiring.For Oswald, most early costs have been in manufacturing and intellectual property services. Taylor McCleneghan, who launched her product development company, Small Shop LLC, in 2018, named inventory and marketing as the biggest upfront costs. Both women are based in the Chicago area.<div type="image" title="Kamala Harris at a campaign event about small businesses" height="3439" width="5159" msid="113963121" hostid="261" sizebytes="769310"></div>Brett Theodos, a senior fellow at Urban Institute who specializes in small business loans, told BI that entrepreneurs would "love" to be able to deduct more of those expenses right away. Moving up the timeline would, he said, make many feel less strapped for cash from the very outset.And there's another potential upside, according to Garret Watson, a senior policy analyst at the nonpartisan Tax Foundation. Small businesses would likely benefit from getting the deduction more quickly because of inflation, he said.Many entrepreneurs are psyched about the effort. Theodos struggled to think of a reason why they wouldn't want this, and Buttle said that those he works with are overwhelmingly excited about the plan.McCleneghan, of the Small Shop, said having access to a $50,000 tax deduction early on would have allowed her to do better long-term planning. With the expanded tax deduction, Oswald said she might not have had to divest retirement funds or take out lines of credit."Getting money in the hands of entrepreneurs sooner is going to allow them to hire, to get equipment, to get a space, to pay off some debt, to pay themselves," Theodos said. "So it's meaningful to allow them to accelerate the deduction of startup expenses."But while small business owners may jump at the opportunity for more early cash flow, where this money would come from is more unclear. McCleneghan herself acknowledged that the details seem hazy.<h2 id="af50011b-34e9-4f5e-9a3b-b001ea7f148b">Despite the flashy numbers, the proposal likely wouldn't have a significant impact on the federal budget.</h2>Though $50,000 sounds like a big-ticket promise, the experts BI spoke to said Harris' proposal actually wouldn't make a big dent in the federal budget. The Tax Foundation, where Watson works, examined cost estimates from prior expansions and found that the proposal would cost about $24.5 billion over 10 years."Relative to the federal government's budget and spending, it's very small," Watson said. "This $25 billion number is in the context of a tax plan for the Harris campaign that would raise about $5 trillion over 10 years. So you're talking about orders of magnitude more money on the tax hike side."<div type="image" title="Kamala Harris and Mike Johnson during the State of the Union speech" height="4000" width="6000" msid="113963120" hostid="261" sizebytes="522916"></div>Some of the loss, he said, stems from the likelihood that certain entrepreneurs will use the deduction and then go out of business. Since the proposal changes when businesses can deduct rather than how much they deduct, it will cost some money, but not "big money," Theodos said.And the proposal could help spur growth, if it becomes law. According to a study from the <a target="_blank" class="" href="https://www.pewresearch.org/short-reads/2024/04/22/a-look-at-small-businesses-in-the-us/">Pew Research Center</a> published in April 2024, small businesses employ nearly half of the country's private sector employees.Theodos called small businesses "essential" for the US economy, and Buttle said they're a<a target="_blank" class="" href="https://www.businessinsider.com/harris-sec-ftc-khan-gensler-crypto-regulation-biden-warren-2024-9"> crucial source of innovation</a>. But the tax experts said the full potential economic impact of the proposed expansion is still up in the air."The question is, will this significantly contribute to a startup boom or really change the needle there or move the needle there? I think that's a reasonable question. It's up for debate, particularly because this is such a narrow provision," Watson told BI, while noting that giving businesses deductions is generally a good policy.If the policy did spur more development, though, Mary Hansen, an economics professor at American University and co-director of the nonpartisan Institute for Macroeconomic and Policy Analysis, said it would eventually have a net positive impact on government revenue.As of now, Harris' promise is just that — a promise.Should she win the election, Congress would need to pass legislation to turn her expanded tax deduction idea into a reality. Despite the prevailing congressional gridlock, all of the experts BI spoke with said small businesses are a rare point of potential bipartisan agreement. Watson predicted that lawmakers would likely tie the proposal to their actions on the expiring 2017 tax provisions.<div type="image" title="Kamala Harris and Doug Emhoff go shopping to support Small Business Saturday" height="3788" width="5973" msid="113963117" hostid="261" sizebytes="2365956"></div>Should Congress ever pass the expanded tax deduction, all startups and small businesses would access the same amount of money — but the experts told BI that some would feel the impact more than others. Entrepreneurs with less initial cash flow would disproportionately benefit from the change, they said.Buttle said it would help women and people of color who have a harder time accessing capital. The Pew Research study found 61% of small businesses are majority-owned by men and, as of 2021, 85% were majority-white owned."We're talking about community businesses, micro-businesses, businesses where the founder doesn't have as much net worth," Theodos told BI. "Everybody can benefit from $45,000, but the question is, who is that making the critical difference for?"

Kamala Harris' tax plan for small businesses sounds like it will cost a lot of money — it won't 

<ul class="summary-list"><li>Urban Revivo has been touted as a rival to Zara in Asia and is looking to expand to the West.</li><li>I tried on clothes at both shops, but my shopping experience at Urban Revivo was better.</li></ul>Urban Revivo is quickly emerging as a <a target="_blank" class="" href="https://www.bloomberg.com/news/articles/2024-06-24/chinese-zara-rival-urban-revivo-is-said-to-weigh-hong-kong-ipo">rival to Zara</a> in the Asian fashion market, with competitive prices, similar store aesthetics, and a large selection of clothing items.The fast-fashion brand, founded in 2006, has <a target="_blank" class="" href="https://urbanrevivo.sg/pages/about-us#:~:text=The%20brand%20has%20more%20than,United%20States%2C%20Europe%20and%20more">more than 300 outlets</a> in mainland China and Southeast Asia.But it now plans to expand its business to <a target="_blank" class="" href="https://www.businessinsider.com/urban-revivo-us-uk-expand-fast-fashion-nyc-london-fmg-2024-7">cities like New York and London.</a>Meanwhile, Urban Revivo's competition — the Spanish fast-fashion powerhouse Zara — is <a target="_blank" class="" href="https://www.theguardian.com/fashion/2023/dec/12/zara-pulls-uk-ad-campaign-images-gaza">weighed down</a> by <a target="_blank" class="" href="https://www.newsweek.com/zara-boycott-controversial-ad-bodies-sheets-israel-hamas-1851186">boycotts over the Israel-Gaza war</a>, impacting its reputation.I checked out the two brands' outlets in Singapore's Jewel Changi Airport and put together basic outfits in each store. Here's my review.<h2 id="baca7690-c343-4a6f-8321-42ad80b9f1ee">Urban Revivo's fits felt way better than Zara's</h2><div type="image" title="(Composite image) The author trying out basics from Zara and Urban Revivo." height="768" width="1024" msid="112163879" hostid="261" sizebytes="54848"></div>I wear US size 6, but I found it difficult to find pieces that fit me properly in Zara.I tried on four basic white tops, but some were too loose around the armholes, while others were too tight around the waist.I tried on a couple of pairs of jeans, too, but was again faced with the same issue.<div type="image" title="The outfit that the author picked out at Zara, consisting of a pair of jeans, a white tank, a beige cardigan and a handbag." height="960" width="1280" msid="112163870" hostid="261" sizebytes="163576"></div>I finally settled on a no-frills white tank ($18.50), a beige knit cardigan ($49), and the straight-leg jeans ($45.90). I added a basic white handbag ($56.60), bringing the total to $170.In contrast, the first thing I noticed about Urban Revivo's offerings was the quality of the pieces. They felt sturdier than the clothes at Zara. The first tank top I put on fit me like a glove, as did the first pair of jeans I tried.<div type="image" title="The outfit that the author picked out at Urban Revivo, consisting of a pair of jeans, a white tank, a black cardigan and a handbag." height="1280" width="960" msid="112163873" hostid="261" sizebytes="75446"></div>My picks included a black-outlined white tank top ($10), a cropped black cardigan ($41.60), a pair of dark wash jeans ($41.60), and a sparkly black handbag ($57.90), for a total of $151.10.However, one drawback for Urban Revivo was the range of sizes available in the store. The largest jeans size I saw was a US size 8, whereas, in Zara, the range went up to size 14.As the name suggests, Urban Revivo's pieces were more street-style than Zara's. Most pieces had a neutral color scheme compared to Zara's more colorful offerings.<h2 id="373b5067-cb9a-40b6-a406-858acacfd69c">The Urban Revivo store experience rivals Zara</h2>The two stores have similar aesthetics, with clean white interiors.Zara's store was largely open concept — a rectangular-shaped floor plan with most products hugging the walls.<div type="image" title="(Composite image) Zara's storefront in Singapore's Jewel, and a picture of its interior." height="768" width="1024" msid="112163880" hostid="261" sizebytes="62830"></div>It was also very brightly lit. The store design worked fine, but it wasn't anything spectacular.In contrast, Urban Revivo felt like it had intentionally curated its space with a flow in mind. The products were displayed in aisles, prompting shoppers to follow a proposed pathway.The store also had arches, adding visual interest to the outlet's design. <div type="image" title="Urban Revivo's interior." height="813" width="1083" msid="112163865" hostid="261" sizebytes="126878"></div>Unlike Zara's bright lights, Urban Revivo was lit more dimly, creating a more relaxed environment.Mário Braz de Matos, the cofounder of Flying Fish Lab, a branding consultancy agency in Singapore, told BI that Urban Revivo invests "far more than any other fast fashion brand in the shopping experience," something other brands like Zara, H&amp;M and Uniqlo are focusing less on.<h2 id="e4618bb1-1337-41b5-8074-989376f78d2a">But Zara doesn't have to worry just yet, experts say</h2>While I thought that Urban Revivo was a strong alternative to Zara, experts told BI it doesn't pose a major threat yet. For one, they say the two brands cater to different target demographics."The UR (Urban Revivo) styles are mostly cute and youthful, while Zara offers more sophisticated clothing, most likely for working," said Marcie Cooperman, a professor from the fashion marketing department of Parsons School of Design.Gregory Angel, an assistant professor of fashion at Parsons, echoed Cooperman's sentiments."Urban Revivo has a variety of products, but there is a 'sophomoric' feel to it," Angel said.And while one might think the Gaza boycott would have people searching for a Zara alternative, the experts are skeptical that political activism will have a lasting impact on the Spanish brand's business."Customers do not have the courage of their convictions for very long," Cooperman said."If they even have a conviction to boycott a brand, they will forget about it as soon as they see something cute on its website," she added.They also say that it's too early to determine if Urban Revivo will be a true threat to Zara."Fighting the incumbents is always an uphill battle," Braz de Matos of Flying Fish Lab said."For now, Urban Revivo is too small outside China to be felt as a threat to Zara. They can compete with Zara in every market where they are present but may not be seen as a menace," he added.Angel said: "Will it be a competitor or a little sister? The market has yet to find out."Richard Tang, CEO of international business at Fashion Momentum Group, Urban Revivo's parent company, said that his firm did identify Zara as a primary competitor. Tang added that while both companies have a broad consumer base, Urban Revivo is gunning for customers who are "quality-driven elites, white-collar professionals, and the new generation of fashion pioneers.""Urban Revivo has evolved, particularly with its global expansion, into its own distinct market position, despite price and product range similarities to Zara," Tang told Business Insider."This strategy is not only about competing with Zara but also about creating a distinct brand image and influence in the foreign market," Tang said. Representatives for Zara did not respond to a request for comment from BI.

I shopped at Urban Revivo, Asia's answer to Zara. I'm a convert, but experts say Zara has nothing to worry about — yet.

<ul class="summary-list"><li>Rep. Alexandria Ocasio-Cortez and Sen. Tina Smith introduced a bill to build "social housing."</li><li>The HOMES Act would build and rehabilitate permanently affordable homes for low- and middle-income people.</li></ul>Politicians still agree: The rent is too damn high.Rep. Alexandria Ocasio-Cortez, a New York Democrat, and Sen. Tina Smith, a Minnesota Democrat, on Wednesday introduced <a target="_blank" class="" href="https://smithsenate.app.box.com/s/vwqs5o4oe5cl0ag4jchyp1piqsxrql50">legislation</a> in the House and Senate that would — if enacted — massively expand the nation's affordable housing stock.The HOMES Act would establish a new federal housing development authority charged with building and rehabilitating more than a million permanently affordable homes. These homes — for both renters and buyers — would be managed by local entities, including public and tribal housing authorities, cooperatives, tenant unions, nonprofits, and the like."There has been a lot of talk about building new housing in this country, but too often we don't talk about who will be building that new housing," Ocasio-Cortez said during <a target="_blank" class="" href="https://x.com/SenTinaSmith/status/1836472272481386676">a press conference</a> unveiling the legislation on Wednesday afternoon.While 40% of these homes would be reserved for extremely low-income residents and 30% for low-income households, about 30% would be available to middle-income households. This so-called "social housing" is notably different from traditional public housing, which is entirely reserved for the poorest households. Rent for all tenants in social housing would be capped at 25% of their income."Having middle-income tenants makes the financial model more viable. But also, importantly, having middle income tenants in these developments helps fight segregation. It helps build a constituency for this kind of housing," said Gianpaolo Baiocchi, director of New York University's Urban Democracy Lab and an advisor on the legislation.In a <a target="_blank" class="" href="https://www.nytimes.com/2024/09/18/opinion/aoc-tina-smith-housing.html">New York Times op-ed</a> unveiling their legislation, Ocasio-Cortez and Smith criticized the federal government's historical approach to ensuring lower-income Americans have access to affordable homes. They argued that federal funding — in the form of subsidies for developers, homeowners, and public housing — has too often propped up a for-profit market that doesn't serve the neediest."There is another way: social housing," Ocasio-Cortez and Smith said in their op-ed. "Instead of treating real estate as a commodity, we can underwrite the construction of millions of homes and apartments that, by law, must remain affordable."Baiocchi stressed that social housing would take all kinds of forms. "In some places it would look like public housing, in other places would be community land trusts, in other places it would be cooperatives," he said. About half of the 1.25 million homes would be new, while the other half would be purchased from private owners and redeveloped, Baiocchi said.The housing construction would be funded by "a combination of congressional spending and Treasury-backed loans, making financing resilient to the volatility of our housing market and the political winds of the annual appropriations process," Ocasio-Cortez and Smith wrote.Currently, rentals are hard to come by, with national vacancy rates at 6.6% in the second quarter of 2024.The legislation comes amid a progressive push for investments in social housing across the country. Baiocchi pointed to New York State Assemblymember Emily Gallagher's similar <a target="_blank" href="https://legislation.nysenate.gov/pdf/bills/2023/S8494">legislation</a> to create a state housing developer. And in California, lawmakers <a target="_blank" class="" href="https://a24.asmdc.org/press-releases/20240215-assemblymember-alex-lee-introduces-bill-create-social-housing-california">introduced a bill</a> to construct mixed-income social housing on government-owned land.Ocasio-Cortez and Smith also pointed to <a target="_blank" class="" href="https://www.nytimes.com/2023/05/23/magazine/vienna-social-housing.html">the social housing system in Vienna</a> as a model. Baiocchi said they looked to both European and Latin American examples.It's a particularly notable development as both presidential campaigns stake out their economic policies leading into the 2024 election. Vice President Kamala Harris has already proposed a housing plan to build 3 <a target="_blank" href="https://www.businessinsider.com/how-kamala-harris-plans-to-build-3-million-new-homes-2024-8">million additional new homes in her first term</a>, with tax incentives for builders creating starter homes; she's also proposed giving <a target="_blank" href="https://www.businessinsider.com/kamala-harris-economy-proposal-25k-first-time-homebuyers-down-payent-2024-8">first-time homebuyers $25,000</a> towards down payments.Former President Donald Trump <a target="_blank" href="https://rncplatform.donaldjtrump.com/?_gl=1*dndyww*_gcl_au*NzczNzk2NDcyLjE3MjQxNjA5MjI.&amp;_ga=2.111840580.1721597780.1726672440-392098144.1724160922">has proposed opening up federal land</a> to build new housing; the 2024 GOP platform says that he would "promote homeownership through Tax Incentives and support for first-time buyers, and cut unnecessary Regulations that raise housing costs."Any congressional proposals on housing costs — especially from legislators as prominent as Ocasio-Cortez and Smith — will likely attract increased attention in the run-up to a tight election. When reached for comment, the Harris-Walz campaign directed BI to their <a target="_blank" href="https://mailchi.mp/press.kamalaharris.com/vice-president-harris-lays-out-agenda-to-lower-costs-for-american-families">current housing proposals</a>. But the bill's proposal now signals that efforts to address housing costs could be top of mind for Democrats should they hold the White House.

A new housing plan wants to give middle-class Americans the kind of support typically reserved for low-income households

As the global urgency to combat <keyword id="19907392" type="General" weightage="20" keywordseo="climate-change" source="keywords">climate change</keyword> intensifies, all eyes are on India's <keyword id="19955368" type="General" weightage="100" keywordseo="Budget-2024" source="keywords">Budget 2024</keyword>, as there’s no better way to walk the talk than allocating funds. Speculation is rife about the potential measures the government may introduce to accelerate the transition to a sustainable energy future — a move that is supremely necessary after the slew of deadly climate catastrophes that we saw last year. India’s Union Budget 2024 will be presented by Finance Minister Nirmala Sitharaman in a couple of days, and is expected to reflect the nation’s commitment to achieving <keyword id="21280854" type="General" weightage="20" keywordseo="net-zero-carbon-emissions" source="keywords">net-zero carbon emissions</keyword> by 2070. Here are some of the key initiatives from the interim budget that was presented in February earlier this year, along with their anticipated impacts! <h2>Rooftop Solarisation</h2>One of the most talked-about initiatives is the ambitious rooftop solar programme, which aims to provide free electricity up to 300 units per month to one crore households. If implemented, this move will help in not only cutting down energy bills — a godsend for the middle- and lower-income folks — but will also give households a chance to generate and even sell their surplus power. <h2>Electric Vehicle (EV) Ecosystem</h2>Charging up the electric vehicle movement, the interim budget included measures to expand EV manufacturing and infrastructure in the country. The move aimed to accelerate the adoption of <keyword id="19895203" type="General" weightage="20" keywordseo="electric-vehicles" source="keywords">electric vehicles</keyword>, reducing emissions from the transport sector and making your commute cleaner and greener. Additionally, the government seemed keen on encouraging the adoption of electric buses to make urban travel more eco-friendly. <div type="Article" hostid="261" msid="111855546" title="Budget 2024: How will budget affect India’s position in the global space race?" mstype="2" mssubtype="0"></div> <h2><keyword id="20495045" type="General" weightage="20" keywordseo="offshore-wind-energy" source="keywords">Offshore Wind Energy</keyword></h2>Riding the winds of change, the interim budget introduced a viability gap funding for 1 GW of offshore wind energy. As per the Finance Ministry, this initiative aims to harness the power of India’s vast coastline, pushing the envelope on <keyword id="19895602" type="General" weightage="20" keywordseo="renewable-energy" source="keywords">renewable energy</keyword> and reducing our fossil fuel dependency. <h2><keyword id="22499996" type="General" weightage="20" keywordseo="national-green-hydrogen" source="keywords">National Green Hydrogen</keyword> Mission</h2>The interim budget also supercharged the National Green Hydrogen Mission with a massive boost to Rs 600 crore from last year’s Rs 297 crore. The government has continually insisted that Green Hydrogen is set to become the fuel of the future, and this announcement supports its development and adoption, paving the way for cleaner industrial processes. <h2>Coal Gasification and Liquefaction</h2>Switching up the coal game, the interim budget plans to set up coal gasification and liquefaction projects that will be able to process 100 metric tonnes by 2030. These projects aim to make the most out of coal in a cleaner way, especially by reducing our reliance on imported natural gas and slashing emissions. <div type="Article" hostid="261" msid="111827903" title="Union Budget 2024 for Railways: Expectations focused on improving passenger safety, experience, infrastructure" mstype="2" mssubtype="0"></div> <h2>Bioenergy and Biomass Aggregation</h2>Turning waste into wealth, the interim budget has also promised additional financial assistance for biomass aggregation. This, they explain, will help in creating a sustainable model for managing agricultural waste, promoting bioenergy production and giving farmers a new revenue stream. <h2>Research and Development (R&amp;D)</h2>In a nod to innovation, the interim budget allocated a whopping Rs 1 lakh crore for interest-free financing in “sunrise” R&amp;D for emerging <keyword id="19931192" type="General" weightage="20" keywordseo="green-technologies" source="keywords">green technologies</keyword>. If the government follows through on this promise, the funding could catapult a wave of innovation, supporting the transition to a sustainable energy future. By focusing on renewable energy, reducing carbon emissions, and supporting green technologies, India’s initial budget allocations seem to be taking significant strides towards its net-zero goal. Whether this will ultimately pan out to become a greener and more resilient future for its citizens remains to be seen.

You Searched For "urban planning" and got 12 results

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