P Chidambaram
Based on suggestions of Parthasarathi Shome panel that was set up to address the grievances of the industry, the government recently said it has clarified on 76 issues related with direct and indirect taxes. An official release said Finance minister P Chidambaram has discussed these issues and has taken final decisions to remove difficulties faced [...] Continue Reading »
To grow their secured credit portfolio, Banks usually believe housing loans the best bet. Whereas that is frequently the case, some public sector banks have reported higher level of non-performing assets (NPAs) in their housing loan book. At six public sector banks, the finance ministry has showed concern over high home loan NPAs counting the [...] Continue Reading »
Finance Ministry sought a major revision to the draft proposed by the Roads Ministry regarding the formation of a Road Regulatory Authority. The role of such a regulator is to sort out issues between private road developers, National Highways Authority of India and Ministry of Roads, Transport and Highways, and ensure smooth functioning of road [...] Continue Reading »
Finance Minister, Mr. P. Chidambaram in his budget speech on Monday said that there had been a whopping over seven-fold increase at 3.89 lakh kilometers in the road network in the country during the UPA-I and UPA-II regime. He said, “In the year 2004, the country’s highway network was 51,511 km which has now reached [...] Continue Reading »
The real estate developers have sought tax breaks from the Government for home buyers and builders to boost up boost sales as well as speed up new launches. They are voicing their opinions on seeking both industry and infrastructure status for themselves and an enhancement in the tax break given to home buyers on the [...] Continue Reading »
P Chidambaram said there was “satisfactory progress” in the “India assisted” programme of constructing and repairing 50,000 houses in Sri Lanka. Till December 31 last year, the construction of 10,250 houses was completed under the programme of building houses for the internally displaced persons in the northern province of Sri Lanka. Union Finance Minister also [...] Continue Reading »
The Reserve Bank of India (RBI) has denied the request of banks to allow them to restructure real estate loans without providing for likely losses if the loans go bad. A loan is said to be restructured when the original terms of the agreement (interest rates, tenure) are diluted in order to support troubled borrowers [...] Continue Reading »
Union finance minister P Chidambaram has stated that the ministry may soon announce a set of measures to boost the country’s real estate sector. As the realty sector is being hit by the high cost of finance and low availability of housing stock, incentives seem to be in the horizon. The finance ministry is in [...] Continue Reading »
