dharavi redevelopment
DHARAVI REDEVELOPMENT NEWS
Dharavi redevelopment: From transit hubs to green spaces, here's what the master plan proposes
May 31, 2025 7:32 am
The Dharavi redevelopment master plan envisages a multi-modal transport hub, open spaces, mapping of religious structures, and industry clusters.
Dharavi master plan proposes 58,532 housing units and 13,468 commercial units for rehabilitation of eligible tenants, residents cry foul
May 30, 2025 9:15 am
The numbers presented are part of the initial tenement estimates made by the special purpose vehicle that is undertaking the Dharavi redevelopment on the 251.24 hectares of Dharavi Notified Area.
Govt approves master plan for Dharavi Redevelopment Project
May 29, 2025 12:55 am
The approval was granted during a high-level review meeting chaired by Chief Minister Devendra Fadnavis at the Sahyadri Guest House, where Chief Executive Officer of the project SVR Srinivas presented a detailed overview of the plan.
Adani's Mumbai slum revamp struggles to secure land in potential setback
August 27, 2024 3:37 pm
The project started in March with a survey to determine eligibility and its backers are aiming to complete construction in seven years.
Dharavi redevelopment project: Survey work of area begins, ID numbers assigned to each house
March 21, 2024 4:25 pm
The survey began with each house being given a unique number and will be followed by a laser survey — also known as Lidar survey, a remote sensing method that uses rapid light pulses from a near-infrared laser to collect measurements — of each lane.
Survey for Dharavi redevelopment project to begin on March 18
March 11, 2024 10:30 pm
The data will be used by the state government to determine their rehabilitation eligibility criteria under the proposed redevelopment project.
Dharavi redevelopment: No undue favour to Adani Group, tender process was transparent, Maharashtra tells HC
August 31, 2023 12:56 am
The government also told the court that it is a "false and baseless" allegation that the cancellation of the old tender was politically motivated
All changes made to benefit Adani: Congress alleges TDR scam in Dharavi redevelopment scheme
July 30, 2023 2:38 pm
Congress MLA Varsha Gaikwad alleged that all the changes are being brought to ensure a profit to Adani
Dharavi redevelopment: Provide 400 sq ft homes for all residents, AAP lists key demands
July 25, 2023 6:21 pm
Aam Aadmi Party vice-president Sandeep Katke said a new survey must be conducted if the government genuinely aims to redevelop Dharavi.
Dharavi redevelopment: HC allows Seclink Technologies to challenge formal award of project to Adani group
July 19, 2023 1:30 pm
The Bombay High Court will hear the Dubai-based firm's challenge on August 7.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
42 minutes ago
- Time of India
Can Trump fix the national debt? Republican senators, many investors and even Elon Musk have doubts
President Donald Trump faces the challenge of convincing Republican senators, global investors, voters and even Elon Musk that he won't bury the federal government in debt with his multitrillion-dollar tax breaks package. The response so far from financial markets has been skeptical as Trump seems unable to trim deficits as promised. "All of this rhetoric about cutting trillions of dollars of spending has come to nothing - and the tax bill codifies that," said Michael Strain, director of economic policy studies at the American Enterprise Institute, a right-leaning think tank. "There is a level of concern about the competence of Congress and this administration and that makes adding a whole bunch of money to the deficit riskier." The White House has viciously lashed out at anyone who has voiced concern about the debt snowballing under Trump, even though it did exactly that in his first term after his 2017 tax cuts. White House press secretary Karoline Leavitt opened her briefing Thursday by saying she wanted "to debunk some false claims" about his tax cuts. Live Events Leavitt said that the "blatantly wrong claim that the 'One, Big, Beautiful Bill' increases the deficit is based on the Congressional Budget Office and other scorekeepers who use shoddy assumptions and have historically been terrible at forecasting across Democrat and Republican administrations alike." But Trump himself has suggested that the lack of sufficient spending cuts to offset his tax reductions came out of the need to hold the Republican congressional coalition together. "We have to get a lot of votes," Trump said last week. "We can't be cutting." That has left the administration betting on the hope that economic growth can do the trick, a belief that few outside of Trump's orbit think is viable. Tech billionaire Musk, who was until recently part of Trump's inner sanctum as the leader of the Department of Government Efficiency, told CBS News: "I was disappointed to see the massive spending bill, frankly, which increases the budget deficit, not just decreases it, and undermines the work that the DOGE team is doing." Federal debt keeps rising The tax and spending cuts that passed the House last month would add more than $5 trillion to the national debt in the coming decade if all of them are allowed to continue, according to the Committee for a Responsible Financial Budget, a fiscal watchdog group. To make the bill's price tag appear lower, various parts of the legislation are set to expire. This same tactic was used with Trump's 2017 tax cuts and it set up this year's dilemma, in which many of the tax cuts in that earlier package will sunset next year unless Congress renews them. But the debt is a much bigger problem now than it was eight years ago. Investors are demanding the government pay a higher premium to keep borrowing as the total debt has crossed $36.1 trillion. The interest rate on a 10-year Treasury Note is around 4.5%, up dramatically from the roughly 2.5% rate being charged when the 2017 tax cuts became law. The White House Council of Economic Advisers argues that its policies will unleash so much rapid growth that the annual budget deficits will shrink in size relative to the overall economy, putting the U.S. government on a fiscally sustainable path. The council argues the economy would expand over the next four years at an annual average of about 3.2%, instead of the Congressional Budget Office's expected 1.9%, and as many as 7.4 million jobs would be created or saved. Council chair Stephen Miran told reporters that when that growth is coupled with expected revenues from tariffs, the expected budget deficits will fall. The tax cuts will increase the supply of money for investment, the supply of workers and the supply of domestically produced goods - all of which, by Miran's logic, would cause faster growth without creating new inflationary pressures. "I do want to assure everyone that the deficit is a very significant concern for this administration," Miran told reporters recently. White House budget director Russell Vought told reporters the idea that the bill is "in any way harmful to debt and deficits is fundamentally untrue." Economists doubt Trump's plan can spark enough growth to reduce deficits Most outside economists expect additional debt would keep interest rates higher and slow overall economic growth as the cost of borrowing for homes, cars, businesses and even college educations would increase. "This just adds to the problem future policymakers are going to face," said Brendan Duke, a former Biden administration aide now at the Center on Budget and Policy Priorities, a liberal think tank. Duke said that with the tax cuts in the bill set to expire in 2028, lawmakers would be "dealing with Social Security, Medicare and expiring tax cuts at the same time." Kent Smetters, faculty director of the Penn Wharton Budget Model , said the growth projections from Trump's economic team are "a work of fiction." He said the bill would lead some workers to choose to work fewer hours in order to qualify for Medicaid . "I don't know of any serious forecaster that has meaningfully raised their growth forecast because of this legislation," said Harvard University professor Jason Furman, who was the Council of Economic Advisers chair under the Obama administration. "These are mostly not growth- and competitiveness-oriented tax cuts. And, in fact, the higher long-term interest rates will go the other way and hurt growth." The White House's inability so far to calm deficit concerns is stirring up political blowback for Trump as the tax and spending cuts approved by the House now move to the Senate. Republican Sens. Ron Johnson of Wisconsin and Rand Paul of Kentucky have both expressed concerns about the likely deficit increases, with Johnson saying there are enough senators to stall the bill until deficits are addressed. "I think we have enough to stop the process until the president gets serious about the spending reduction and reducing the deficit," Johnson said on CNN. Trump banking on tariff revenues to help The White House is also banking that tariff revenues will help cover the additional deficits, even though recent court rulings cast doubt on the legitimacy of Trump declaring an economic emergency to impose sweeping taxes on imports. When Trump announced his near-universal tariffs in April, he specifically said his policies would generate enough new revenues to start paying down the national debt. His comments dovetailed with remarks by aides, including Treasury Secretary Scott Bessent, that yearly budget deficits could be more than halved. "It's our turn to prosper and in so doing, use trillions and trillions of dollars to reduce our taxes and pay down our national debt, and it'll all happen very quickly," Trump said two months ago as he talked up his import taxes and encouraged lawmakers to pass the separate tax and spending cuts. The Trump administration is correct that growth can help reduce deficit pressures, but it's not enough on its own to accomplish the task, according to new research by economists Douglas Elmendorf, Glenn Hubbard and Zachary Liscow. Ernie Tedeschi , director of economics at the Budget Lab at Yale University , said additional "growth doesn't even get us close to where we need to be." The government would need $10 trillion of deficit reduction over the next 10 years just to stabilize the debt, Tedeschi said. And even though the White House says the tax cuts would add to growth, most of the cost goes to preserve existing tax breaks, so that's unlikely to boost the economy meaningfully. "It's treading water," Tedeschi said.
Indian Express
43 minutes ago
- Indian Express
Builder.ai, DailyHunt parent VerSe faked revenue from sham deals as part of ‘round-tripping': Report
a London-based AI startup bound for bankruptcy, allegedly colluded with Indian social media startup VerSe Innovation to fabricate business deals and present artificially inflated sales figures to investors. The two companies regularly billed each other for nearly the same amounts even though neither of them actually provided the products and services in a practice known as 'round-tripping', according to a report by Bloomberg. is a platform used to build apps and software using AI with 'no tech knowledge needed.' In May this year, the company announced that it was planning to file for bankruptcy after lenders decided to seize most of its funds. Once valued at $1.5 billion, is one of the most prominent AI startups to fail amid an investment frenzy first sparked by the launch of ChatGPT in 2022. Its collapse serves as a stark reminder of the risks involved in rushing to back the next OpenAI or Anthropic. VerSe Innovation, on the other hand, is the Bengaluru-based parent company of popular news aggregator app DailyHunt, which reportedly has more than 350 million monthly users. Over four years, reported receiving nearly $60 million in revenue from VerSe for services such as app development. The AI startup, in turn, transferred funds to VerSe and its subsidiary, Quark Media Tech, for services such as marketing, as per the report. Although the transfers didn't happen at exactly the same time, both and VerSe received nearly the same amount from each other, Bloomberg reported. However, Umang Bedi, one of the co-founders of VerSe, has dismissed the allegations of round-tripping as 'absolutely baseless and false'. 'We're not the kind of company that is in the business of inflating revenues,' he was quoted as saying by the business news outlet. 'There is no correlation on any timing of any payment to any partner,' he added. VerSe's investors include Goldman Sachs and Google. In 2022, the startup raised $805 million from the Canada Pension Plan Investment Board and other investors at a $5 billion valuation. Meanwhile, has been backed by Microsoft, Insight Partners and the Qatar Investment Authority (QIA), one of the world's largest sovereign wealth funds. In 2023, Microsoft had announced that solutions would be integrated with its cloud and Teams. founder Sachin Dev Duggal exited the company in February this year. He was replaced by Manpreet Ratia as CEO. 'With no viable alternatives, the Board has made the extremely difficult decision to enter into insolvency,' Ratia reportedly wrote in an internal email a few months later.
&w=3840&q=100)
Business Standard
an hour ago
- Business Standard
Mahindra & Mahindra's vehicle sales rise 17% to 84,110 units in May
Mahindra & Mahindra on Sunday reported a 17 per cent year-on-year increase in total sales at 84,110 units in May. In the utility vehicles segment, the Mumbai-based automaker sold 52,431 vehicles in the domestic market, a growth of 21 per cent, as compared to 43,218 units in May last year. "Thanks to continued demand for our products, we were able to deliver industry-leading growth across our ICE and BEV portfolio," Mahindra & Mahindra (M&M) CEO Automotive Division Nalinikanth Gollagunta said. The company said its tractor sales in the domestic market stood at 38,914 units last month, as against 35,237 units in May 2024. Total tractor sales (domestic and exports) last month were at 40,643 units, as against 37,109 units for the same period last year. Early advancement of above-normal Southwest monsoon should bode well for kharif sowing, M&M President - Farm Equipment Business Veejay Nakra said. "Approval of hike in MSP for Paddy and other kharif crops will bring positive sentiments among farmers. Better reservoir levels, government announcement of record foodgrain production and introduction of various schemes will help farmers aim higher productivity going forward and in turn augur well for tractor demand," he added.
