Economy

Mumbai, known for long as the city that never sleeps, is now that in the literal sense too. One of the first decisions that Aaditya Thackeray, the new state cabinet minister of tourism and environment, took to promote tourism, generate employment and revenue was a pilot project that allows select malls and eateries to stay open all day and night. With the experiment on for over a week now, the reaction of citizens and shop owners has been mixed. The criteria to stay open includes commercial establishments in non-residential areas, gated communities with CCTV surveillance, those with parking facilities, security…

Mumbai, known for long as the city that never sleeps, is now that in the literal sense too. One of the first decisions that Aaditya Thackeray, the new state cabinet minister of tourism and environment, took to promote tourism, generate employment and revenue was a pilot project that allows select malls and eateries to stay open all day and night. With the experiment on for over a week now, the reaction of citizens and shop owners has been mixed. The criteria to stay open includes commercial establishments in non-residential areas, gated communities with CCTV surveillance, those with parking facilities, security…

A houseboat stay, once a major attraction of Kashmir tourism, could soon become just a memory. For two reasons. One, the strict High Court guidelines that prohibit increasing the number of houseboats in Dal and Nigeen lake, the second famous lake in Srinagar city. Two, there are just three master craftsmen left, who can build houseboats. All the others have passed away in the last six decades, taking their knowledge with them. It takes these master craftsmen one to two years to build a normal house boat, called floating palace in local parlance. The houseboats are categorised in five groups—Deluxe…

Chaman Lal, a street vendor in an inner market in one of the city’s northern sectors, is a worried man these days. Originally from Partapgarh in Uttar Pradesh, the 62-year-old banana seller has been residing in the city for 10 years now, selling seasonal fruits for the past four years.  Sitting next to him on a raised platform, almost hidden from the public eye by a electricity junction box, is his friend 72-year old Ghanshyam Bahadur, who helps him with his street business. Chaman Lal's worry stems from the fact that he does not have a vendor certificate and could…

For a planned city like Chandigarh, street vendors are a floating population difficult to include in the city’s planning mechanism. Street vendors tend to create an independent eco-system dominated by power centres within the government framework and outside from touts and racketeers, having to cope with the constant threat of confiscation of their goods. In the absence of a policy, usage of public space by street vendors remains a bone of contention between the different stakeholders in an urban setting. Objections are raised by motorists, resident welfare associations, market welfare committees and others who perceive them as a threat in…

For the past year, as part of my Peak Urban research, I have been researching the emergence of digital money and Uber-like online transport booking services in the auto-rickshaw industry in Bengaluru. I have witnessed huge gaps in provision to services, particularly for these low-income self-employed drivers who are marginalised from regulated banking institutions and are forced to seek alternative financial arrangements at exorbitant costs. They provide important transportation services for the public, that are designed to supplement the bus and Metro systems. Yet these drivers are not financially supported in terms of infrastructure investment, salaries, health insurance or retirement pensions.…

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…

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…

Feeling too lazy to step out of your home? Don’t like your PG/hostel food? Your spouse can’t cook? No time to prepare lunch? Ran out of groceries? For all these reasons and more, food delivery services are a quick, one-click solution for millennials. An aerial view of Chennai today would show the long stretch of beach, sparse tree cover, myriad projects under construction across the city... and a sea of red, orange and green riders dotting its roads. Rapidly growing market Such is the rapid growth of food delivery services in the city over the past 5 years. The market leader…

Picture this. You could sell your paper waste for the highest market rate; contact local scrap dealers and sell your discarded plastic containers, unused bags and slippers and even buy compost at dirt cheap rates. All online. Waste management and recycling in the city just got easier with the launch of India’s first web portal-cum-mobile application for waste trading, called Madras Waste Exchange . On December 3 2019, Greater Chennai Corporation (GCC) Commissioner, G Prakash inaugurated the website that is developed under the Smart City Mission. Three weeks after the launch, Citizen Matters Chennai spoke to Azhagu Pandiaraja M P,…