NTPC Ltd is planning to build an ultra mega solar park in Bhuj district in Gujarat with a
capacity of 5,000 MW that entails an investment of Rs. 20,000 crore. A part of the
capacity could be set up without a power purchase agreement , NTPC Chairman
Gurdeep Singh said.
At a time when the real estate sector is looking at a bleak future in Andhra Pradesh due
to an official review of development projects in capital city Amaravati, the state
government has increased land rates by up to 10%, raising concerns over additional
burden of registration fee on property buyers and a further dip in demand.
India’s national capital was ranked 10th globally in price movement of luxury housing
properties, with rates rising by 4.4% annually during the second quarter of 2019,
according to property consultant Knight Frank.
Bengaluru with a price rise of 2.8% and Mumbai at 0.8% increase were at 15th and
30th position, respectively, in a list of 46 cities globally, the consultant said in its Prime
Global Cities Index report.
The ministry of housing and urban development (MoHUA) expects to meet the target of
constructing around 1.12 crore houses under the Pradhan Mantri Awas Yojana (PMAY)
by early next year, which is two years before its scheduled deadline of 2022.
On Monday (August 19, 2019), the Indian rupee has decreased by 29 paise to close at
an over six-month low of 71.43 against the US dollar amid growing worries over
economic slump and sustained foreign fund outflows. Further, rising crude oil prices
and strengthening of the US dollar vis-a-vis other currencies overseas also took toll on
the Indian currency.
The Direct Tax Code (DTC) task force, set up to overhaul the 58-year old Income
Tax Act, has recommended a significant increase in the highest income tax slabs,
besides slashing corporate tax rate to an even rate of 25% for both domestic and
foreign companies, sources said. Income tax payers earning up to Rs 55 lakh per
annum may end up with a major tax relief if recommendations to change the tax
bracket and rebates are accepted, according to the sources.