Realty sector looks for green shoots
Dr Niranjan Hiranandani/Dubai
Interest on home loans should be fully allowed under IT deduction without any ceiling. Reuters
Dr Niranjan Hiranandani. Supplied photo
Naredco, the country’s apex real estate body, shares industry expectations ahead of federal budget due on February 1.
In India, the real-estate sector accounts for an estimated seven per cent of the gross domestic product (GDP) and employs around 15 per cent of the total workforce in construction and real estate sector with a multiplier effect on 270 ancillary industries. It is the second-largest employer in the country after agriculture and is also expected to touch a market size of $1 trillion by 2030 and contribute 13 per cent to the country’s GDP by 2025. The construction industry in India ranks third among the 14 primary sectors in terms of direct, indirect, and induced effects in the economy.
AUDUSD increased 0.00283 or 0.37% to 0.77415.
NZDUSD increased 0.00375 or 0.52% to 0.72358.
USDJPY decreased 0.09 or -0.08% to 103.67.
USDCNY decreased 0.01091 or -0.17% to 6.47604.
Precious Metals
Silver increased 0.17 USD/t. oz or 0.67% to 25.469.
Some economic news from last night
Japan：
South Korea:
GDP (QoQ) (Q4) decreased from 2.1% to 1.1%.
Some economic news from today
Hong Kong:
Imports (MoM) (Dec) increased from 5.1% to 14.1%.
Trade Balance decreased from -25.6B to -45.7B.
Japan:
Singapore:
Industrial Production (YoY) (Dec) decreased from 18.7% to 14.3%.
EUROPE/EMEA
Mastercard will increase fees more than fivefold when a British shopper uses a debit or credit card to buy from an EU-based company, sparking alarm among companies that rely on online payments and concern among MPs over higher consumer prices. Mastercard and Visa levy an “interchange” fee on behalf of banks for every debit or credit card payment that uses their networks. The EU introduced
India's central bank is likely to propose tightening rules on "shadow banks" in a bid to strengthen solvency and sustainability of a sector that has been showing signs of stress in recent years, two sources said.
IL&FS Says Addressed Aggregate Debt of About Rs32,000 crore
Moneylife Digital Team
1
Crisis-hit Infrastructure Leasing & Financial Services (IL&FS) says the group has addressed a debt worth about Rs32,000 crore as of date.
In a statement, IL&FS says, The aggregate debt of Rs32,000 crore addressed comprises around Rs21,600 crore of debt addressed basis cash balances and about Rs10,300 crore of additional net recovery expected from resolution and restructuring applications filed with the Mumbai bench of National Company Law Tribunal (NCLT) and National Company Law Appellate Tribunal (NCLAT), the approvals for which are awaited.
The management and the new board of the group maintains its estimates of addressing aggregate debt of over Rs56,000 crore by FY22, out of an overall debt of over Rs99,000 crore as of October 2018.