Huge unsold housing inventory across 35 cities in the country is one of the key reasons for the Great Indian Economic slowdown, according to former chief economic adviser Arvind Subramaniam. In a working paper titled "India's great slowdown- What happened? What's the way out?", Arvind Subramaniam estimates that this vacant real estate inventory has locked up funds worth Rs 13 lakh crores, resulting in huge unpaid loans to banks. "While developers could in principle tempt buyers by reducing prices, they couldn't do that in practice because lower prices would have destroyed the (notional) value of the collateral that they pledged…
Read moreCity: Mumbai
Take a walk around Bhiwandi. Much of what you will see are shuttered powerloom units gathering dust and rust. During its heyday, Bhiwandi, in Thane district, had the highest cluster of powerlooms in the country, and was a huge employment hub with workers hailing from other states like Madhya Pradesh, Uttar Pradesh and Bihar. Today this once-thriving business is facing extinction, thanks to GST, demonetisation and cheaper competition, rendering thousands of workers jobless. “More than half the karigars (workers) have returned to their native place as major textile units have shut down,” said Dilshad Sayyed Ahmed Ansari, who has been working…
Read moreRemember Arvind Desai ki Ajeeb Dastaan? In his very first film, eminent Bollywood film maker Saeed Mirza had showcased the view of the city from the upper deck of a double decker bus, wherein the characters stated that this was the best way to see the city of Mumbai. Many films like Shaan (an entire song was shot on a double decker bus) and even a much more recent hit, Ghajini (the Tamil version) had scenes in which these buses had provided the perfect backdrop. Unfortunately, very soon, scenes such as these will be the only place where you can…
Read moreRemember Arvind Desai ki Ajeeb Dastaan? In his very first film, eminent Bollywood film maker Saeed Mirza had showcased the view of the city from the upper deck of a double decker bus, wherein the characters stated that this was the best way to see the city of Mumbai. Many films like Shaan (an entire song was shot on a double decker bus) and even a much more recent hit, Ghajini (the Tamil version) had scenes in which these buses had provided the perfect backdrop. Unfortunately, very soon, scenes such as these will be the only place where you can…
Read moreAt Versova jetty one morning some months ago, I asked Ramji bhai, who was sitting on a rock at the edge of the creek, what he was doing. “Timepass,” he replied. “I’ll take this home and eat it.” He pointed to a small tengda (a type of catfish) he’d just caught. I saw other fishermen cleaning nets they had floated in the creek the night before – they had caught loads of plastic but no fish. “Fishing in the khadi [creek] today is barely possible,” says Bhagwan Namdev Bhanji, who has lived all his 70-plus years in Versova Koliwada, a fishing village in north Mumbai’s…
Read moreAt Versova jetty one morning some months ago, I asked Ramji bhai, who was sitting on a rock at the edge of the creek, what he was doing. “Timepass,” he replied. “I’ll take this home and eat it.” He pointed to a small tengda (a type of catfish) he’d just caught. I saw other fishermen cleaning nets they had floated in the creek the night before – they had caught loads of plastic but no fish. “Fishing in the khadi [creek] today is barely possible,” says Bhagwan Namdev Bhanji, who has lived all his 70-plus years in Versova Koliwada, a fishing village in north Mumbai’s…
Read moreThe new chief minister of Maharashtra, Uddhav Thackeray may have granted interim stay pending review on the development of the Metro car shed inside the Aarey forest for now, but the battle to save Aarey – the 4.8 lakh trees that the forest is made up of -- is far from over. Though work on tree cutting and the Metro car shed inside Aarey was already under a stay ordered by the Supreme Court since the en masse overnight cutting of over 2141 trees on October 5th, the state support for Aarey comes as a huge boost for the Save…
Read moreThe new chief minister of Maharashtra, Uddhav Thackeray may have granted interim stay pending review on the development of the Metro car shed inside the Aarey forest for now, but the battle to save Aarey – the 4.8 lakh trees that the forest is made up of -- is far from over. Though work on tree cutting and the Metro car shed inside Aarey was already under a stay ordered by the Supreme Court since the en masse overnight cutting of over 2141 trees on October 5th, the state support for Aarey comes as a huge boost for the Save…
Read moreOctober 11, 2019: Nida Shaikh, 25, died on the spot after she was run over by a truck. She was riding pillion with her cousin, and both fell off when the scooter hit a pothole causing her cousin to lose control of the vehicle. While her cousin was injured, Nida, a doctor, was crushed by the truck. October 13, 2019: Ramprasad Goswni, 56, died on the spot after a truck hit him as the driver was trying to dodge a pothole. It was in the same place where Nida Shaikh lost her life. October 29, 2019: Ranjendra Dongre, 42, was…
Read moreOver 56% of the city's transplanted trees in Mumbai failed to survive their shifting, revealed a Bombay High Court-appointed fact finding committee, entrusted to determine the status of such trees. The court-appointed committee inspected about 1483 fully grown trees transplanted since 2017, of which 824 trees were found to be either dead or on the verge of dying. The report presented in court found inadequate tree care and lack of scientific transplanting methods to be the root cause of the problem. "The proportion of dead trees keeps on rising. In January 2018, 478 trees (42%) were found dead. The number rose…
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