Economy

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,…

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…

The continued internet blockade in Kashmir region since August 3rd following the revocation of Article 370, has not only deprived the people of Srinagar and the rest of the valley of an essential means to connect with each other, it has also taken an unprecedented toll on business, education, tourism, health and entertainment. In essence, the internet blackout in Kashmir has not only led to job losses but also loss of confidence in doing business in the valley. Interestingly, a day after a communication blockade was imposed on Kashmir, Jio-fibre, a fibre cable internet service launched by the Reliance group, began operations…

As the central and state governments seek to boost startups and create a startup culture, there has been a spurt in young entrepreneurs experimenting with innovative ideas that will become the next unicorn. In 2019 alone, over 1300 startups were registered in the country. India currently has around 8900 startups in the technology domain alone. While a good number of new ventures are centred around technologies like artificial intelligence, other fields too are seeing a host of startups, some examples being YourStory, a startup about startups, legal-tech startups such as Leegality and startups focusing on social issues like Think Niti,…

Translated by Sandhya Raju 58 வயதுக்கு பின் மாத ஒய்வூதியமாக ஆயிரம் ரூபாய் பெற முடியும் என எத்தனை வீட்டு பணியாளர்காளுக்கு தெரியும்? திருமணம், கல்வி போன்றவற்றிற்கு அரசு நலத்திட்டங்கள் பெற முடியும் என எத்தனை பேருக்கு தெரியும்? இவர்களை விடுங்கள், வீட்டு வேலைக்கு அமர்த்துபவர்களுக்கே இதை பற்றி தெரியாது. "மாநில அரசு இந்த திட்டங்களை போதுமான அளவுக்கு மக்களிடம் கொண்டு போய் சேர்க்கவில்லை,  வீட்டு வேலை பார்க்கும் பல பணியாளர்களுக்கு இது பற்றி தெரியவில்லை," என்கிறார் பெண் தொழிலாளர் சங்கத்தின் அமைப்பு செயலாளர் எஸ் பழனிசாமி.  இந்த அமைப்பில் முப்பதாயிரம் தொழிலாளர்கள் உறுப்பினர்களாக உள்ளனர். உறுப்பினர்களின் சமூக மற்றும் நிதி பாதுகாப்பு,  அரசாங்கத் திட்டங்களைப் பற்றி அவர்களுக்கு உணர்த்துவது போன்ற செயலில் இவர்கள் ஈடுபடுகின்றனர். இந்தியாவில் உள்ள பெரும்பாலான வீடுகளில் வீட்டு வேலை பார்க்க பணியாளர்களை அமர்த்தினாலும், ஒழுங்கமைக்கப்பட்ட தொழிலாளர் துறையில் இவர்கள் இல்லை. மத்திய அளவில் இவர்களின் மேம்பாடு, …

Residents across the city have at one time or another faced sudden inspections of the LPG connection at home. These often catch them by surprise as most people are unaware of the requirement of these checks and the frequency at which these should be conducted. Inspections are recommended once every five years, to be conducted by authorised personnel from the respective gas agencies which supply the cylinders. Lack of awareness about this has led to residents being duped by unauthorised individuals who carry out inspections at will and fleece them. However, before we decide to do away with inspections altogether,…

When the Government of India issued an advisory on August 3rd, urging tourists and non-Kashmiris to leave the state, thousands of labourers who work in Srinagar and other areas decided to return home. However, around 150 non-Kashmiri waste pickers and their families decided to stay put in Srinagar. The city had provided them a home and livelihood for years and they believed they would be safe, despite subsequent reports of non-Kashmiri truck drivers and traders being killed Most of these waste-pickers and their families have lived in Srinagar since the 1960s, but their numbers increased in the 1990s. “A majority…