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Time of India
6 days ago
- Business
- Time of India
Focus on connection with citizens, PM tells ministries; no celebration of 11th year
PTI file photo NEW DELHI: In a span of just a month, Prime Minister Narendra Modi has twice taken top central government bureaucrats and state chief secretaries by surprise by flagging public grievances that had reached him directly. On April 30, secretaries and chief secretaries attending a meeting under Pragati — the performance audit PM holds periodically — were surprised when Modi raised shortcomings in implementation of the Jal Jeevan Mission, an ambitious scheme to reach piped water to all households. On Wednesday, he again left them amazed when, during a review of the functioning of real estate regulators, he shared feedback that files in many RERA offices don't move unless 'vyavastha', a popular Hindu euphemism for pleasing the authorities, has been made. Senior officials said the two meetings, apart from providing a peek into the PM's continuing connect with the grassroots, were also symbolic of the government's decision to focus on problems which are holding up last-mile delivery of well-intentioned schemes. 'The push is towards on-ground engagement, where ministries and departments are to conduct focused drives, enrolment camps, and beneficiary interactions to strengthen access and awareness,' a senior govt source said. This also helps explain, sources said, why the 11th anniversary of the Modi govt passed without large-scale events or publicity campaigns. 'The spirit is not of celebration but of connection. The idea is to understand what more needs to be done and to do it better,' a government functionary said, adding that the PM has encouraged ministries to mark the milestone by 'listening and connecting'. This marks a shift away from the publicity campaign and advertisement blitz that has traditionally marked anniversaries. 'Ministries have instead been encouraged to use existing platforms and field networks to communicate achievements organically and prioritise authentic citizen's voices over packaged messaging,' the official said. Senior officials said the PM's observations on JJM and RERA were a clear signal to everyone to ensure that public grievances were redressed and impediments in the way of completion and saturation were removed. 'He made it clear that addressing public grievances is a top priority and cannot be treated as routine paperwork,' another senior bureaucrat said. In fact, the PM did not agree with the proposition of a chief secretary that they don't review the performance of a regulatory authority. He asked all chief secretaries to regularly review the performance of RERAs. TOI has learnt that at last month's Pragati meeting, Modi had directed the Jal Shakti ministry to dispatch 100-200 officers for on-ground verification of grievances. Sources said a large share of complaints related to no supply of water even after laying of pipelines, homes still waiting for taps within the premises, and bad quality water. Post this direction, the government has deployed 100 central nodal officers' (CNO) teams to inspect 183 JJM projects across 135 districts and the details of this were shared by cabinet secretary T V Somanathan at Wednesday's meeting.
Time of India
29-05-2025
- Business
- Time of India
PM asks officials to focus on full redressal of homebuyers' grievances than simple disposal of plaints
NEW DELHI: The monthly Pragati meeting on Wednesday turned out to be a reality check for real estate regulators (Reras) with PM Narendra Modi asking probing questions to top state officials, including if they have ever tried to find out whether homebuyers are satisfied with the 'disposal' of complaints. Modi also pointed out how just totting-up redressal numbers wasn't enough. The PM directed all state chief secretaries to hold regular reviews and ensure that there is 'complete redressal' of homebuyers' grievances. Sources said to the discomfort of officials, the PM, while reviewing 'issues related to Rera s', said realtors send complaints to him how some Rera officers do not listen to them until 'arrangements (vyavastha)' are made. He instructed the chief secretaries to look into this serious issue. In a statement, the PMO said Modi emphasised on the need to improve quality and timeliness of disposal of grievances related to the real estate sector to ensure justice and fairness for homebuyers. 'The PM emphasised that strict compliance with Rera provisions is critical for restoring trust in the housing market,' it added. The PM's call for assessing the quality of disposal of consumer complaints by Reras comes at a time when questions are being raised about the effectiveness of real estate regulators in executing their orders. This issue has been raised in meetings of govt's central advisory committee of Rera. As per housing ministry data till May 26, a little over 1.43 lakh complaints have been disposed of. It doesn't give the number of complaints filed. 'If they put the status of a complaint as disposed of, then they must ensure that the homebuyer concerned has got compensation or possession of property. After passing orders, they put complaints under the disposed of category. We have been challenging this methodology,' said M S Shankar , general secretary of FPCE, an umbrella homebuyers organisation that had campaigned for enactment of real estate regulation law. TOI has learnt that the PM also raised questions on whether all real estate projects are getting registered with the respective Reras, a mandatory requirement. Pointing out to the much less registration of projects in Uttar Pradesh compared to Maharashtra, Modi asked chief secretaries to deploy people to check the project details of builders from their websites and see whether all are registered. He asked states to ensure the mandatory registration of all eligible real estate projects under the Rera Act, the PMO said. While reviewing the Mahi Banswara Rajasthan Atomic Power project, the PM also asked the education ministry to include atomic energy in school syllabus to bust the myth of radiation around nuclear power and make this more acceptable to people at large. He said that the country will need nuclear energy to meet the power demand. Highlighting the adverse impact of project delays such as Integrated Anandapur Barrage Project, which is yet to be completed after more than 20 years and increase in cost from merely Rs 590 crore to Rs 3,000 crore now, the PM reiterated that such setbacks deprive citizens of essential services and infrastructure. Sources said he also pointed to how the same issues of land acquisition, forest and other clearances are flagged for delay in completion of most infrastructure projects. 'The PM said these need to be resolved by officers themselves,' a source added. Cabinet secretary briefs on actions taken after last Pragati meeting TOI has learnt that Cabinet Secretary T V Somanathan on Wednesday gave an update on the actions taken after the last Pragati meeting in which the PM had issued directions. Sources said Somanathan informed that officers have been deployed for visiting different states to take stock of Jal Jeevan Mission projects. The PM had flagged in the last meeting that he had been receiving several complaints regarding piped drinking water programme in rural areas and had sought field visits of Central govt officers to find the nature of problems and to suggest solutions. Sources said a large share of complaints identified were no supply of water even after laying of pipelines, homes still waiting for getting taps within premises, and bad quality water. They added that Somanthan also told the PM that a module on land acquisition is being prepared to train new recruit civil servants and also to improve land records in border areas in Arunachal Pradesh.
Time of India
28-05-2025
- Business
- Time of India
PM Modi asks officials to focus on full redressal of homebuyers' grievances than simple disposal of plaints
Prime Minister Narendra Modi NEW DELHI: The monthly Pragati meeting on Wednesday turned out to be a reality check for real estate regulators (Reras) with PM Narendra Modi asking probing questions to top state officials, including if they have ever tried to find out whether homebuyers are satisfied with the 'disposal' of complaints. Modi also pointed out how just totting-up redressal numbers wasn't enough. The PM directed all state chief secretaries to hold regular reviews and ensure that there is 'complete redressal' of homebuyers' grievances. Sources said to the discomfort of officials, the PM, while reviewing 'issues related to Reras', said realtors send complaints to him how some Rera officers do not listen to them until 'arrangements (vyavastha)' are made. He instructed the chief secretaries to look into this serious issue. In a statement, the PMO said Modi emphasised on the need to improve quality and timeliness of disposal of grievances related to the real estate sector to ensure justice and fairness for homebuyers. 'The PM emphasised that strict compliance with Rera provisions is critical for restoring trust in the housing market,' it added. The PM's call for assessing the quality of disposal of consumer complaints by Reras comes at a time when questions are being raised about the effectiveness of real estate regulators in executing their orders. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Esta nueva alarma con cámara es casi regalada en Cordoba (ver precio) Verisure Undo This issue has been raised in meetings of govt's central advisory committee of Rera. As per housing ministry data till May 26, a little over 1.43 lakh complaints have been disposed of. It doesn't give the number of complaints filed. 'If they put the status of a complaint as disposed of, then they must ensure that the homebuyer concerned has got compensation or possession of property. After passing orders, they put complaints under the disposed of category. We have been challenging this methodology,' said M S Shankar, general secretary of FPCE, an umbrella homebuyers organisation that had campaigned for enactment of real estate regulation law. TOI has learnt that the PM also raised questions on whether all real estate projects are getting registered with the respective Reras, a mandatory requirement. Pointing out to the much less registration of projects in Uttar Pradesh compared to Maharashtra, Modi asked chief secretaries to deploy people to check the project details of builders from their websites and see whether all are registered. He asked states to ensure the mandatory registration of all eligible real estate projects under the Rera Act, the PMO said. While reviewing the Mahi Banswara Rajasthan Atomic Power project, the PM also asked the education ministry to include atomic energy in school syllabus to bust the myth of radiation around nuclear power and make this more acceptable to people at large. He said that the country will need nuclear energy to meet the power demand. Highlighting the adverse impact of project delays such as Integrated Anandapur Barrage Project, which is yet to be completed after more than 20 years and increase in cost from merely Rs 590 crore to Rs 3,000 crore now, the PM reiterated that such setbacks deprive citizens of essential services and infrastructure. Sources said he also pointed to how the same issues of land acquisition, forest and other clearances are flagged for delay in completion of most infrastructure projects. 'The PM said these need to be resolved by officers themselves,' a source added. Cab secy briefs on actions taken after last Pragati meeting TOI has learnt that Cabinet Secretary T V Somanathan on Wednesday gave an update on the actions taken after the last Pragati meeting in which the PM had issued directions. Sources said Somanathan informed that officers have been deployed for visiting different states to take stock of Jal Jeevan Mission projects. The PM had flagged in the last meeting that he had been receiving several complaints regarding piped drinking water programme in rural areas and had sought field visits of Central govt officers to find the nature of problems and to suggest solutions. Sources said a large share of complaints identified were no supply of water even after laying of pipelines, homes still waiting for getting taps within premises, and bad quality water. They added that Somanthan also told the PM that a module on land acquisition is being prepared to train new recruit civil servants and also to improve land records in border areas in Arunachal Pradesh.
Time of India
27-05-2025
- Politics
- Time of India
Sena UBT MLC helps Beed family after onion crop loss
Mumbai: Moved by the heartbreaking account of a farmer's daughter of the onion crop destruction due to unseasonal rains, Shiv Sena (UBT) MLC Milind Narvekar donated Rs 1 lakh to the family. Mahesh Darekar, a farmer from Ashti Taluka in Beed district, incurred a huge loss as the onion crop cultivated on his three-acre land was ruined by the heavy rainfall. Along with the crop, his dream to educate his daughter Pragati, who is in standard one, seemed to wash away. Thanks to immediate intervention from Narvekar, Pragati can continue her education. "I know this assistance will not cover all the losses the Darekar family suffered, but this is a small effort to give them some relief. Pragati is a very bright child, and she will surely make great progress," said Narvekar, who heard of the Darekar family's financial trouble after watching Pragati speak to a news channel. Darekar said he did not have the adequate facility to store the bags of onions, and they were all spoiled due to sudden rainfall. Darekar said the help from Narvekar was a big relief as he would be able to buy Pragati notebooks, uniforms, and nutritious snacks for some months. "We sincerely thank Narvekar sir. His help has given us new hope. We were devastated when we lost our onion crop. Narvekar sir's quick response to the story of devastation has truly been comforting," said Darekar.
Mint
20-05-2025
- Business
- Mint
Home loan EMI vs. SIP: Which is the smarter way to buy a house?
Rajiv has been saving Rs. 25,000 monthly in a SIP for five years, hoping to buy a flat. Meanwhile, his colleague Pragati opted for a housing loan from Bajaj Finserv last year and moved into her new home. While catching up during their lunch break one day, Rahul realises something startling. The flat prices in the neighbourhood he was eyeing have increased by 15% while his SIP grew only 10%. Could saving longer with higher returns outpace rising home prices? The answer might surprise you. This article compares SIP growth against housing loan costs so you can decide which path leads faster to your dream home. A systematic investment plan or SIP allows you to invest a fixed amount regularly in mutual funds. SIPs work through rupee-cost averaging, which means you purchase more units when prices fall and fewer when prices rise. This investment option provides flexibility to increase, decrease, or pause contributions based on your financial situation. SIPs provide market-linked returns that have historically averaged 10-12% annually over long periods. However, these returns are not guaranteed and can fluctuate considerably based on market conditions. A home loan EMI is a fixed monthly payment you make towards yourhousing loan. Each EMI comprises two parts - principal repayment and interest payment. In the initial years, a larger portion goes towards interest, while the principal repayment increases gradually in later years. With a housing loan, you gain immediate homeownership rather than waiting years to save the entire amount. So, you can live in your own home while paying it off, avoiding rent payments that offer no ownership benefits. A home loan EMI calculator requires three essential inputs: loan amount, interest rate, and loan tenure. These factors determine your monthly payment obligation. Bajaj Finserv provides a home loan EMI calculator that generates instant estimates with just a few clicks. The calculator helps you compare different tenure options side by side. You can easily see how a longer loan period reduces your monthly payments but increases your total interest cost, so you can use it to find the perfect balance for your budget. A monthly SIP of Rs. 15,000 at 12% annual returns could grow to approximately Rs. 12.36 lakh in five years, assuming consistent market performance. This projected corpus differs based on actual market returns, which might exceed or fall below expectations, depending on economic conditions and fund performance. On a Rs. 30 lakh housing loan at 7.99% for 20 years, you would pay approximately Rs. 3.5 lakh towards principal in the first 5 years. During this time, you build equity in your property that appreciates in value, potentially at 5-8% annually, based on location and market conditions. The Income Tax Act offers significant benefits to housing loan borrowers that can greatly reduce their tax liability yearly. Section 80C allows deduction of principal repayment, while Section 24B provides deduction on interest payment. You can claim up to Rs. 1.5 lakh deduction on principal repayment under Section 80C and reduce your taxable income considerably. Interest payments up to Rs. 2 lakh qualify for deduction under section 24B, which provides additional tax savings that make a home loan more financially advantageous. In comparison, SIP investments offer tax benefits only through Equity Linked Savings Schemes (ELSS) with a mandatory three-year lock-in period and deduction limited to Rs. 1.5 lakh under Section 80C. Bajaj Finserv offers competitive home loan options starting at 7.99% interest rate with tenures extending up to 32 years. This combination results in EMIs as low as Rs. 722 per lakh and makes homeownership accessible even with budget constraints. The extended tenure option allows you to maintain lower EMIs while accommodating future income growth. You can always make part-prepayments later to reduce the overall interest burden when your financial situation improves. Home loan applications are processed quickly - within 48 hours* after submission of all required documents. This quick turnaround allows you to secure your dream property without delays. With the doorstep document pickup service, multiple branch visits are a thing of the past. The digital application process streamlines verification and approval so the entire experience is hassle-free and easy. The housing loan products cater to various customer segments, from first-time home buyers to property investors, with loan amounts reaching up to Rs. 15 crore based on eligibility. But that's not all, Bajaj Finserv also provides top-up loans of up to Rs. 1 crore over your existing housing loan. These funds can be used for any purpose without restrictions, whether it is a home renovation, education expense, or medical emergency. If you already have an existing home loan, you can easily shift it with the balance transfer facility that comes with attractive rates. Moreover, individual borrowers with floating interest rates enjoy zero foreclosure fees, which provides the flexibility to close your loan early without penalties. Why wait years to accumulate funds through SIPs when you can take a housing loan today? Property prices typically rise faster than SIP returns in most Indian cities and make delayed purchases more expensive, despite your savings. Combined with tax benefits and the utility value of immediate homeownership, a home loan clearly outweighs potential SIP returns. The table below outlines their differences across key aspects. Factor Housing loan SIP investment Immediate benefit Move into your home now Build corpus for future Tax advantage Up to Rs. 3.5 lakh annually Limited to Rs. 1.5 lakh (ELSS) Asset appreciation Property value growth + principal repayment Market-dependent returns Cash flow impact Fixed EMI commitment Flexible investment amount With its low EMI options, fast processes, and flexible tenure choices that adapt to your financial situation, Bajaj Finserv stands out as the ideal choice. Use the home loan EMI calculator on the official website to understand exactly how much you need to budget monthly. This offers you a transparent view of your financial commitment before you apply, allowing you to take the first step towards property ownership with confidence. Visit the official website or download the app to apply today. Or continue waiting and miss out on building equity in your own home. Note to readers: This article is part of Mint's paid consumer connect Initiative. 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