Realty News RoundUp: India Needs Rs 39 Lakh Crore To Build Urban Infra In 20 Years

Jan 03,2018

Realty News RoundUp: India Needs Rs 39 Lakh Crore To Build Urban Infra In 20 Years 

Investments required in urban areas for a 20-year period between 2012-13 and 2031-32 was estimated to be Rs 39 lakh crore, the government said on January 2. The Ministry of Housing and Urban Affairs has constituted a high-powered expert committee to provide an estimate of investments required for urban infrastructure services, including the maintenance and replacement, Minister of State for Housing and Urban Affairs Hardeep Singh Puri said in the Lok Sabha. The minister said nearly Rs 20 lakh crore had been estimated for operation and maintenance of all cities and towns. He said 90 smart cities selected so far had indicated a total investment of Rs 1.9 lakh crore in their proposals.
Finance Minister Arun Jaitley on January 2 said the government had entered into an unchartered territory as far as bankruptcy and insolvency Code was concerned and would continue to modify the law dealing with the issue. The Insolvency and Bankruptcy Code (Amendment) Ordinance, 2017, was passed by the Lok Sabha last week.

A Bill to allow the government to take up infrastructure projects within prohibited areas around protected monuments was passed in the Lok Sabha on January 2. The bar on new construction within prohibited areas of a protected monument was adversely affecting various public works and developmental projects of the Central government, Bill's Statement of Objects and Reasons said. Amendments have been proposed in the legislation to the 1958 Act that prohibits carrying out any public work or project or other constructions in any prohibited area around protected monuments.

Open defecation in Maharashtra will now invite a spot fine of Rs 500, according to rules framed by the state government. The government has also fixed spot fine rates for littering, spitting and urinating in public places. In a Government Resolution (GR) issued by the urban development department recently, the state government has empowered municipal corporations and councils to levy spot fines on people and institutions under the provisions of the Solid Waste Management Act, 2016, with immediate effect.