Category: Business

  • Indian housing sector to contribute 13 pc to national GDP by 2025: Report

    Indian housing sector to contribute 13 pc to national GDP by 2025: Report

    IANS

    The housing sector in the country is expected to contribute 13 per cent to the national GDP by 2025, reflecting its resilience and potential, according to a report on Friday.

    Projected to grow into a $1-trillion market by 2030, the sector is evolving in response to demographic shifts, policy reforms, and global trends, according to the report by JLL, a leading global commercial real estate and investment management company.

    Tier 2 and 3 cities are emerging as pivotal growth hubs, with smaller urban centres like Jaipur, Indore and Kochi driving more than 40 per cent of new housing developments by 2025.

    The urban homeownership rate is set to increase to 72 per cent by 2025, up from 65 per cent in 2020, supported by affordable financing options and a younger demographic entering the housing market.

    Millennials and Gen Z buyers are expected to comprise 60 per cent of new homebuyers by 2030, the report mentioned.

    Indian housing sector to contribute 13 pc to national GDP by 2025: Report

    IANS

    Sustainability, once considered a luxury, is now a necessity in the housing market. Green-certified buildings are expected to account for 30 per cent of new residential projects by 2025, doubling from 15 per cent in 2020.

    The number of residential units sold during 2024, translating to approximately 85 per cent of the total units sold during entire 2023.

    2024 saw a remarkable 17 per cent increase in sales compared to the same in 2023. This upward trajectory in demand paved the way for sustained growth in the country’s residential asset class, said the report.

    Mixed-use developments are becoming increasingly popular, reflecting a global trend towards creating live-work-play environments.

    “These developments combine residential, commercial, and recreational spaces within a single project, offering residents the convenience of having everything they need within walking distance,” the report mentioned.

    The demand for smart homes and tech-integrated living spaces is also skyrocketing, it added.

    (With inputs from IANS)

  • RBI’s New Guidelines: 3 Types of Bank accounts will be closed, Do this work immediately

    – Advertisement –

    Bank account closed: The new guidelines of the Reserve Bank of India (RBI) (RBI Guidelines for Bank Account Closure) are going to start from January 1, 2025. First of all, let us tell you that the timing of all government banks in Madhya Pradesh is going to be the same.

    According to the decision taken by the State Level Banking Coordination Committee, now the office hours of all government banks in Madhya Pradesh will be from 10:00 am to 5:00 pm.

    – Advertisement –

    All the work related to customer transactions will be done from 10:00 am to 4:00 pm only. On the other hand, the process of closing long-dormant accounts in banks is also being started from January 1, 2025 as per the RBI guidelines.

    3 categories of accounts will be closed

    According to the guidelines, all types of inactive bank accounts will be closed. These include accounts in which there has been no transaction for two years. These include inactive and zero balance category accounts. If your bank account falls under these 3 categories, then your account will be closed.

    You should contact your branch as soon as possible and get your bank account activated by completing the KYC process, otherwise your inactive bank account may be closed.

    All the work related to customer transactions will be done from 10:00 am to 4:00 pm only. On the other hand, the process of closing long-dormant accounts in banks is also being started from January 1, 2025 as per the RBI guidelines.

    3 categories of accounts will be closed

    According to the guidelines, all types of inactive bank accounts will be closed. These include accounts in which there has been no transaction for two years. These include inactive and zero balance category accounts. If your bank account falls under these 3 categories, then your account will be closed.

    You should contact your branch as soon as possible and get your bank account activated by completing the KYC process, otherwise your inactive bank account may be closed.

    Related Articles:- 

    New Highways Rules: Highway rules will change from January 24, govt has issued new Driving Rules

    Flight ticket refund Policy: Rights Of Passengers in Case Of Flight Delay or Cancellation – Know Here

    IMD issues alert of cold wave, snowfall and rain in many cities on January 4-5 , check details

    – Advertisement –

  • Gold Soars Again and Reaches Dollar 2,660.00

    Written by Antonio Di Giacomo, Senior Market Analyst at XS.com

    Gold has recently reached a price of $2,660.00, marking its highest level in more than two weeks. This increase has been driven by several factors, including geopolitical tensions and growing economic uncertainty, which have created sustained demand for this precious metal as a haven. The gold price, which has stabilized for a while, has experienced a notable rise in value, attracting the attention of investors and analysts alike.

    In recent months, growing concerns over the effects of Donald Trump’s economic policies have contributed to this increase. Uncertainty about his decisions regarding international trade, tariffs, and local industry protection has led to expectations of potential inflationary pressures, favoring investment in assets like gold. This has driven demand for the metal, causing a surge in its price.

    Gold’s value increased by over 30% during 2024, the most significant annual rise since 2010. This increase reflects concerns over Trump’s protectionist policies and the markets’ response to global volatility. Financial uncertainty, fueled by the political and economic decisions of the U.S. government, has led investors to seek safer assets, like gold, which has historically been considered a haven during times of crisis.

    The rise in gold prices is not an isolated phenomenon, as other precious metals have also increased. Silver and platinum have followed a similar trend, though with variations in their magnitude. Meanwhile, palladium has registered a slight decline, contrasting with the upward movement of other precious metals. This difference can be attributed to specific factors related to each metal and its connection to industrial demand and market fluctuations.

    Additionally, central bank purchases have played an essential role in driving up the price of gold. Throughout 2024, there has been a significant increase in gold acquisitions by the reserves of several countries, which has directly impacted the price. These banks, diversifying their reserves, are betting on gold as a safe asset amid global economic uncertainty.

    The international context has also influenced gold’s behavior. Geopolitical tensions in various regions, such as those related to China, Russia, and the Middle East, have added more uncertainty to financial markets. In this scenario, investors looking to protect their capital against the risks of a potential global crisis have considered gold a haven.

    In conclusion, the rise of gold to $2,660.00 reflects an increasing economic and geopolitical uncertainty environment. Donald Trump’s policies, in particular, have generated speculation about potential trade and inflationary tensions, leading many to seek safety in gold. Increased purchases of precious metals by central banks and a rise in international tensions have also accompanied the rise in gold prices. In this context, gold remains a haven, with demand expected to remain strong as financial and geopolitical uncertainty persists worldwide.


    Bhumika Lenka

  • Super Crop Safe Ltd. Unveils Innovative “Super Gold WP+” Bio-Fertilizer for Sustainable Farming

    3rd January 2025  Ahmedabad, Gujarat, India Super Crop Safe Ltd. (BSE: 530883, SUCROSA Group), a leading agrochemical and biotechnology company, has announced the launch of its groundbreaking product, Super Gold WP+, a unique combination of inoculant mycorrhiza and other essential nutrients. This innovative solution is designed to revolutionize farming practices by significantly reducing the consumption of chemical fertilizers like urea and DAP while enhancing crop productivity.

    Super Crop Safe Ltd., headquartered in Ahmedabad, Gujarat, has been a trusted name in manufacturing and supplying high-quality insecticides, fungicides, and agrochemicals for over 15 years. Known for its eco-friendly biological and herbal products, the company has established a strong presence across Gujarat, Rajasthan, Punjab, Haryana, Madhya Pradesh, Maharashtra, and Chhattisgarh.

    About Super Gold WP+

    Developed at the company’s state-of-the-art Bio-Technology Division, Super Gold WP+ builds on the success of the previously launched Super Gold bio-fertilizer. This advanced product enhances root development in crops, allowing plants to absorb nutrients and water more efficiently. It marks a significant step in sustainable farming practices and reflects the company’s commitment to organic and microbial biotechnology.

    Key Features and Benefits:

    • Reduction in chemical fertilizer usage.
    • Enhanced root growth and nutrient absorption.
    • Improved crop yield and soil health.
    • Support for eco-friendly and sustainable agriculture.

    Market Expansion Plans

    Super Crop Safe Ltd. plans to roll out its full range of bio-fertilizer products, including Super Gold WP+, across key states such as Gujarat, Rajasthan, Punjab, Haryana, Uttar Pradesh, Uttarakhand, Madhya Pradesh, Chhattisgarh, Maharashtra, Karnataka, and Kerala. Field trials have already shown promising results, and discussions are underway with potential distributors to expand market reach.

    Future Growth Prospects
    This product launch positions Super Crop Safe Ltd. to capture additional market share and drive growth in the high-value, high-margin bio-fertilizer segment. The company remains dedicated to leveraging its research-driven approach to develop sustainable solutions for farmers, ensuring a balance between agricultural productivity and environmental responsibility.


    Rabindra

  • Income Tax: Big relief for taxpayers! Finance Minister has extended many deadlines for taxpayers

    Great news for Taxpayers! Finance Ministry has issued a big update


    – Advertisement –

    Finance Minister Nirmala Sitharaman has given gifts to taxpayers before the beginning of New Year 2025. Actually, the Finance Minister has extended many deadlines for taxpayers. This has given taxpayers enough time to celebrate the New Year with family members and friends without any worries. Let us know which deadlines Nirmala Sitharaman has extended for taxpayers.

    – Advertisement –

    1. Belated/Revised Income Tax Return

    The Income Tax Department has extended the deadline for filing belated/revised income tax returns for resident individual taxpayers. Its deadline was December 31, 2024. It has been extended to January 15, 2025.

    2. Direct Tax Vivaad se Vishwas Scheme (DTSVS) 2024

    The deadline for this scheme has been extended to January 31, 2025. This has given taxpayers additional time to settle their income tax related disputes. The government has launched this scheme to reduce the number of income tax related disputes.

    3. Corporate Social Responsibility (CSR) 2024

    The Ministry of Corporate Affairs has extended the deadline for filing Form CSR-2. It is mandatory for companies coming under the Corporate Social Responsibility Rules of the Companies Act, 2013 to file Form CSR-2. Now the deadline for this has been extended to March 31, 2025. This has given a lot of relief to the companies.

    However, the Income Tax Department has not met all the demands of taxpayers and chartered accountants to extend the deadline. Many deadlines have not been extended beyond December 31, 2024.

    The deadline for filing GSTR-9 and GSTR-9C under GST has not been extended. This has disappointed a large number of GST taxpayers.

    The Income Tax Department has not extended the deadline for filing income tax returns for firms, companies, societies, NGOs etc. The deadline has not been extended for NRIs. If they have not filed or revised their income tax returns by December 31, 2024, then they will have to file an updated return and pay a penalty to the government in the form of additional tax.

    Related Articles:-

    New route of Vande Bharat Express will be started between Mata Vaishno Devi Katra to Srinagar

    Weather Latest Update: IMD high alert issued regarding rain, warning for these areas…

    FD Rates Cut: Big news for FD holders! This bank has cut the interest rates on bulk FD. check immediately


    – Advertisement –

  • Lessons from the Past and Present

    By Ashwin Bhadri, Founder and CEO of Equinox Labs

    Air pollution has become one of India’s most serious challenges in the past years, with cities like Delhi often ranking as the most polluted in the world. The year 2024 had seen some of the worst air quality levels on record, leading to public health crises and economic losses.

    Air Quality Over Three Decades

    India’s air quality has worsened significantly over the past 30 years due to rapid urbanisation, industrialisation and an increase in vehicle emissions. Between 1998 and 2021, average annual PM2.5 concentrations rose by about 67.7%. This rise has been particularly worse in urban areas due to population density and industrial activity making pollution worse.

    Delhi has become a symbol of the crisis. Estimated PM2.5 concentrations in the city increased from 81 µg/m³ in 1998-1999 to 119.7 µg/m³ in 2010-2019, with only small improvements to 115.0 µg/m³ in 2020-2021. These figures are far higher than the World Health Organisation’s (WHO) safe limit of 5 µg/m³, putting millions of people at risk of respiratory and heart diseases.

    Firecrackers and Air Quality

    In November 2024, despite a government ban on firecrackers, widespread use during the Diwali festival caused air quality levels in Delhi to reach hazardous levels. PM2.5 concentrations rose to more than seven times the WHO’s safe limit, sparking public outrage and overwhelming healthcare services. That same month, Delhi overtook Lahore as the world’s most polluted city, with an Air Quality Index (AQI) of 515.

    Policy Efforts and Their Limitations

    India has introduced several measures including the National Clean Air Programme (NCAP). This aimed to cut particulate pollution by 20-30% by 2024 in cities that failed to meet air quality standards. Delhi tried implementing vehicle rationing schemes, banning diesel generators and setting up smog towers. However, smog towers and outdoor purifiers have not made a noticeable difference in overall air quality. Critics argue that these are temporary fixes that do not tackle root causes like emissions from vehicles, industries and agricultural practices.

    Health System Strain and Public Awareness

    During times of high pollution, hospitals in Delhi see a sharp rise in patients with respiratory issues like asthma and Chronic Obstructive Pulmonary Disease (COPD). Children, the elderly and people with pre-existing health conditions are especially vulnerable. The strain on healthcare facilities highlights the urgent need for lasting solutions rather than quick fixes. Public awareness campaigns have helped draw attention to the problem and support measures to reduce pollution. However, changing behaviour on a large scale is still a challenge. For example, even though many people know how harmful firecrackers are, their use during Diwali continues to cause serious pollution spikes.

    Strategies for a Cleaner Future

    India needs stronger policy enforcement to ensure regulations are effectively applied to solve its air pollution crisis. This includes stricter penalties for stubble burning, emissions violations and ignoring construction dust controls. Transitioning from coal-based power to renewable energy sources like solar and wind can significantly reduce industrial emissions. Policies encouraging the use of clean energy must be sped up. Sustainable urbanisation must be encouraged, with city planning focusing on green spaces, efficient public transport and pedestrian-friendly infrastructure to cut vehicle emissions.

    India’s air pollution will depend largely on the combined efforts of policymakers, industry leaders and the public. The challenges faced by the public are huge and there is also great potential for change. India can work towards a future with cleaner air by adapting well-planned and long-term solutions. Air pollution currently faced by India is not just an environmental issue but a public health crisis and economic challenge.


    Neel Achary

  • Receives Rs 754 Crore Order from MSEDCL, Mumbai, Maharashtra for 25,000 Solar Pumping Systems

    CRI Pumps Secures Rs 754 Crore Order for 25,000 Solar Pumping Systems from MSEDCLMumbai, 02nd January 2025: CRI Pumps is proud to announce a significant milestone in its commitment to sustainability and renewable energy solutions. The company has been officially empanelled by the Maharashtra State Electricity Distribution Company Limited (MSEDCL), Mumbai, Maharashtra to supply 25,000 Solar Pumping Systems, valued at ₹ 754 Crore, as part of the Magel Tyala Saur Krushi Pump (MTSKP) scheme.

    With this empanelment, CRI Pumps is poised to play a pivotal role in promoting the adoption of renewable energy solutions, powering Maharashtra’s agricultural landscape, and contributing to a greener, more sustainable future.

    Commenting on this significant milestone, G. Soundararajan, Chairman of CRI Group, said, ‘We are privileged to be chosen by MSEDCL to supply these Solar Pumping Systems. This substantial order highlights CRI’s unwavering commitment to innovation and excellence in developing reliable, energy-efficient, sustainable pumping solutions. With our robust execution capabilities, deep industry expertise, and extensive network across regions, CRI Pumps ensures seamless delivery and installation of these systems. As the global transition to renewable energy gains momentum, CRI Pumps remains deeply dedicated to offering solar pumping systems that foster environmental stewardship and ensure a sustainable future for generations to come”.

    With the successful installation of over 170,000 solar pumping systems and IoT-enabled smart pumps, CRI Pumps continues to set new standards in sustainable innovation. Through its advanced pumping technologies, CRI Pumps has realized significant achievements, including energy savings of approximately 5,200 million unit’s kWh and a reduction of 4.13 million tonnes in carbon emissions, highlighting its profound contributions to energy conservation and environmental sustainability.


    Mansi Praharaj

  • IMD issues alert of cold wave, snowfall and rain in many cities on January 4-5 , check details


    – Advertisement –

    Weather Latest Update: The Meteorological Department has warned that a new western disturbance may hit north-west India from January 5.

    The Indian Meteorological Department (IMD) has forecast that rain is likely in the Himalayan region in the coming week and in the plains of northwest India from January 4 to January 5, 2025. Dense fog and cold wave conditions are expected to persist in parts of northwest India for the next 24 hours, after which gradual improvement is expected.

    – Advertisement –

    Western disturbance will bring snowfall and rain

    The weather department has also warned that a new western disturbance may hit northwest India from January 5. Under its influence, light to scattered rain is expected in the western Himalayan region from January 1 to January 3. These are expected to become widespread from January 4 to January 6. Light to scattered rain may occur in the plains of northwest India from January 4 to 6. Heavy rains with snowfall are expected in Jammu and Kashmir, Muzaffarabad, Gilgit and Baltistan on January 5.

    Forecast of cold wave and dense fog

    Cold day conditions will prevail in isolated pockets of Himachal Pradesh, Punjab, East Uttar Pradesh and Chandigarh from January 1. According to the IMD, maximum temperatures have dropped by more than 5 degrees Celsius in at least 50 districts of Uttar Pradesh due to the cold wave conditions.

    Dense fog is expected to prevail over parts of Uttar Pradesh, Rajasthan, Punjab, Uttarakhand, Rajasthan, Chandigarh, Haryana and other eastern and northeastern states till January 5.

    Related Articles:-

    Income Tax: Big relief for taxpayers! Finance Minister has extended many deadlines for taxpayers

    BSNL launches two affordable recharge plans, up to 3 GB data per day for Rs 7

    Public Holiday: Government Declared Holiday in All institutions, Banks and Schools on 7th January…

     


    – Advertisement –

  • Ambuja Cements-Adani merger receives no objection letter from stock exchanges

    Ambuja Cements-Adani merger receives no objection letter from stock exchanges

    IANS

    Ambuja Cements Ltd has received an observation letter with ‘no objection’ from the National Stock Exchange (NSE) and ‘no adverse observations’ from Bombay Stock Exchange (BSE) with regards to merger with Adani Cementation Ltd.

    The proposal for a merger between Adani Cementation and Ambuja Cements had received approval from the board in June 2024.

    According to the stock exchange circular on January 1, “The Scheme remains subject to various statutory and regulatory approvals and of the respective shareholders and creditors (where applicable) of the companies involved in the scheme.”

    “Based on the draft scheme and other documents submitted by the Company, including undertaking given in terms of Regulation 11 of SEBI Regulations, 2015, we hereby convey our “No objection” in terms of Regulation 37 of SEBI Regulations, 2015, to enable the Company to file the draft scheme with NCLT,” read the circular.

    Adani

    IANS

    Adani Group’s cement arm, Ambuja Cement, is poised for robust growth. The company has set an ambitious goal of reaching 140 million tonnes per annum (MTPA) by 2028.

    By this move, Ambuja Cements is set to boost efficiency, enhance competitive strength and simplify compliance processes.

    To achieve this target, Ambuja Cement acquired Orient Cement Ltd (OCL) at an equity value of Rs 8,100 crore in October last year. The company announced the acquisition of 46.8 per cent shares of OCL from its current promoters and certain public shareholders and the acquisition will be fully funded through internal accruals.

    Ambuja, with its subsidiaries ACC Ltd, Penna Cement Industries Ltd and Sanghi Industries Ltd, has taken the Adani Group’s cement capacity to 88.9 MTPA, with 20 integrated cement manufacturing plants, 20 cement grinding units and 12 bulk terminals across the country.

    Ambuja Cements shares were trading at Rs 545.60, up 1.30 per cent, on Thursday.

    (With inputs from IANS)

  • Sensex soars over 1,200 points, auto and IT stocks rally

    Indian stock market set to ride on strong economic growth in 2025

    Sensex soars over 1,200 points, auto and IT stocks rallyIANS

    Indian stock market surged by nearly 1.6 per cent in afternoon trade on Thursday as heavy buying was seen in auto, energy, private bank, infra, commodity and IT sectors on Nifty.

    At around 1.39 pm, Sensex was trading at 79,766.88 after rising 1,259.47 points or 1.60 per cent, while Nifty was trading at 24,112.25 after rising 369.35 points or 1.56 per cent.

    The market trend remained positive. On the National Stock Exchange (NSE), 1,366 stocks were trading in green, while 529 stocks were in red.

    Nifty Bank was up 386.45 points or 0.76 per cent at 51,447.05. Nifty Midcap 100 index was trading at 57,740.40 after rising 289.50 points or 0.50 per cent. Nifty Smallcap 100 index was at 19,022.65 after rising 62.85 points or 0.33 per cent.

    Sensex trades higher on strong global cues

    Market trend remained positive.IANS

    In the Sensex pack, Bajaj Finserv, Bajaj Finance, Maruti Suzuki, M&M, Infosys, Titan, UltraTech Cement, HCLTech, Kotak Mahindra Bank and IndusInd Bank were among the top gainers. Only Sun Pharma was among the top losers.

    The domestic benchmark indices opened flat in morning trade as selling was seen in the PSU bank, pharma, FMCG, realty, media, energy and metal sectors on Nifty.

    According to Vaibhav Agrawal, CIO–Alternates (Public equity), MOAMC, broader markets are expected to grow earnings at 12-13 per cent in FY26.

    While the FII flows remain volatile, a pickup in corporate earnings in H2 FY25 and expected easing in geopolitical tensions post Trump joining office, could turn higher foreign flows into Indian equities vs other emerging economies, said Agrawal.

    However, making money in 2025 will not be as easy and broad-based as it has been in the last 4 years.

    “It will be much more stock and sector specific. In that back drop we can think sectors and companies that have exposure to discretionary consumption, energy transition, electronics manufacturing and capital markets sectors may perform relatively better,” said Agrawal.

    (With inputs from IANS)