logo
Provision for loan waiver taken off from DM Act, Centre tells Kerala High Court

Provision for loan waiver taken off from DM Act, Centre tells Kerala High Court

The Hindu11-06-2025

The Centre on Wednesday informed the Kerala High Court that the Section that empowered the Indian National Disaster Management Authority (NDMA) to recommend banks to waive/write off loans or grant fresh loans to persons affected by disasters of severe magnitude had been removed from the Disaster Management (DM) Act.
This was submitted by the Disaster Management Division of the Ministry of Home Affairs in an affidavit filed before the court. It said that Section 13 of the DM Act, which had given such powers to the National Disaster Management Authority, had been omitted by way of an amendment to the Act in 2025. The affidavit added that the Indian National Centre for Ocean Information Services had made available the geospatial data related to building footprints and air-borne laser terrain mapping through its FTP site, which was shared with the Kerala State Disaster Management Authority on May 19.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Kerala HC asks State government to take a decision on pleas of Akshaya entrepreneurs
Kerala HC asks State government to take a decision on pleas of Akshaya entrepreneurs

The Hindu

timean hour ago

  • The Hindu

Kerala HC asks State government to take a decision on pleas of Akshaya entrepreneurs

The Kerala High Court has directed the State government to consider and take an appropriate decision expeditiously on a representation given by the All Kerala Akshaya Entrepreneurs Confederation seeking to enhance charges for various online services provided by Akshaya centres, before finalising a revised agreement with the Akshaya entrepreneurs. The directive was passed by Justice N. Nagaresh recently while disposing of a writ petition filed by the federation. The court made it clear that the members of the petitioner shall execute the current agreement and this judgment will not be an excuse for not executing the current agreement. According to the petitioner, the State government has reiterated time and again that all government-to-citizen services shall only be routed through Akshaya Centres. The petitioner also pointed out that every Akshaya entrepreneur has to execute an agreement with the government. It was in 2013 that an agreement was executed with the entrepreneurs for the first time. They were compelled by the authorities to execute unilateral agreements, the petitioner alleged. In fact, various service fees have not been revised since 2018 and a majority of them find the going tough in the face of increased cost of operations. No discussion had been held with the Akshaya entrepreneurs at any point of time despite a detailed representation on this and various other issues faced by the entrepreneurs was submitted to the government.

Raymond Realty eyes higher sales, launches in FY26
Raymond Realty eyes higher sales, launches in FY26

Mint

timean hour ago

  • Mint

Raymond Realty eyes higher sales, launches in FY26

Bengaluru: Raymond Realty, which is scheduled to list on the stock exchanges on 1 July, is looking at faster growth through higher home sales and several project launches in 2025-26, said a top company executive. The real estate firm was demerged from Raymond Ltd on 1 May and will list as a standalone entity. Mumbai-based Raymond Realty clocked around ₹2,300 crore of sales in FY25, and is targeting at least 20% growth this year. It also expects a 20% return on capital employed. Also read: Gautam Singhania meets European royal Prince Albert II: Here's why they met, what they discussed & more By the end of FY26, it plans to launch six projects - two in suburban Thane, where Raymond owns about 100 acres, and four projects in different locations across Mumbai Metropolitan Region (MMR) - Wadala, Sion, Mahim and Bandra. The developer currently has six projects under execution. Raymond Realty's residential portfolio, combining projects under execution and the ones to be launched, has a gross development value (GDV) of ₹40,000 crore. Of this, projects worth ₹25,000 crore GDV would be in Thane alone. The remaining projects of ₹15,000 crore GDV are in MMR. 'In the next 3-4 years, we will double our sales and portfolio size. As a company, we are trying to solve for two things in the industry - quality of projects and timely delivery. We also want to focus on post delivery service, and have started our own facilities management arm," Raymond Realty chief executive Harmohan Sahni said in an interview. Also read: Centre links part of state capex loans to new reforms in land, and digitization The demerger will consolidate the group's real estate business under a single entity, which, going forward, will further unlock the firm's potential as a pure-play property development vertical. The company will sell at a broad price range of ₹20,000-65,000 per sq ft, and is not looking to sell below that, or in the uber luxury category. 'We can't go lower than ₹20,000-22,000 per sq ft. We will not dilute the brand, and it is not a price-sensitive market," he added. MMR, India's most valuable property market, stands as one of the leading contributors to pan-India launches and sales. Most of the projects Raymond Realty has signed are redevelopment projects. The newly signed projects, in Mahim and Wadala, are a Maharashtra Housing and Area Development Authority (Mhada) redevelopment and a slum redevelopment project respectively. Also read: Centre weighs easing conditions for interest-free capex loans to states 'We will continue to pursue an asset-light model by signing projects through the joint development route as it is capital efficient. We are a net debt-free company," Sahni said. Beyond Mumbai, the company is exploring project opportunities to enter the Pune property market. 'We are choosy about the deals we want to sign," he added. MMR among all the top cities witnessed the highest sales of around 155,335 units in 2024, almost the same as 2023. Pune followed with around 81,090 units sold. The two western markets together led residential sales last year, said Anarock Property Consultants.

Centre links part of state capex loans to new reforms in land, and digitization
Centre links part of state capex loans to new reforms in land, and digitization

Mint

timean hour ago

  • Mint

Centre links part of state capex loans to new reforms in land, and digitization

New Delhi: The Centre has drawn up a new set of reform-linked conditions for states to access a portion of the ₹ 1.5 trillion interest-free capex loan for FY26, two people aware of the matter said, with a focus on digitization, governance, land reforms and urban planning. 'States will now be required to implement targeted reforms in key areas including digital public infrastructure (DPI) for agriculture, improvements in financial management systems, better urban planning, and streamlined land-related processes," said the first person mentioned above, speaking under the condition of anonymity. Of the ₹ 1.5 trillion earmarked for FY26, around 60% will be unconditional or linked to infrastructure spending, while the remaining 40% will be tied to reforms that states and Union Territories must undertake to access the funds, the person mentioned above added. Interest-free loans with a tenure of 50 years have played a vital role in stimulating capital spending by states and catalyzing the economy since the pandemic. As things stand, states account for 20–25% of India's total infrastructure spending, a critical priority for the government. 'This year's reform agenda puts a sharp focus on accelerating digital transformation in agriculture through federated farmer databases, digitized land records, and digital crop surveys,' the second person mentioned above said, requesting anonymity. Meanwhile, the central government has made Aadhaar-based Direct benefit transfer (DBT) integration with the Reserve Bank of India (RBI) and National Payments Corporation of India (NPCI) mandatory across all state-run schemes. "Land and regulatory reforms remain a key thrust as states are expected to enable flexible mixed-use development, digitize land use change approvals, rationalize industrial road width norms, and amend building rules to minimize land loss. These are critical steps to boost manufacturing, agriculture, and ease of doing business," the second person mentioned above said. 'The goal is to ensure that capital investment is not just about creating assets, but about improving the way states govern and deliver,' the person added. Launched in FY21, the Centre's 50-year interest-free capex loan scheme has played a key role in driving state-led capital spending and reviving the post-pandemic economy. For FY26, ₹ 1.5 trillion has been earmarked to accelerate infrastructure development and support state-level projects. Of this, about 60% will be either unconditional or tied to infrastructure spending, while the remaining 40% will be linked to specific reforms. The conditions states had to meet in the past two years to avail of the central loans included reforms in the housing sector, providing incentives for scrapping old government vehicles and ambulances, reforms in urban planning and urban finance, increasing housing stock for police personnel, and setting up libraries with digital infrastructure at panchayat and ward levels for children and young adults. Finance minister Nirmala Sitharaman ramped up allocations to ₹ 1.5 trillion each for FY25 and FY26—up from ₹ 1.10 trillion in FY24. However, the FY25 outlay was later revised to ₹ 1.25 trillion due to slower-than-expected spending in the first half of the fiscal, which was largely due to elections. A spokesperson of the Ministry of Finance didn't respond to emailed queries.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store