Category: Kharcha paani

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Kharcha paani

Gold, mutual funds major draws for Indian women

A new ASSOCHAM survey reveals that the Indian middle class, especially women, relies on gold and mutual funds for investments.
by The Editors | editor@themetrognome.in

Gold has always been a staple investment for Indians. Now, it is safe to add mutual funds to the list.

As per a new survey commissioned by ASSOCHAM (Associated Chamber of Commerce and Industry in India), the country’s middle class families are investing in gold as a ‘reliable and stable’ bet, while some of them are also returning to the riskier option of the stock market, enthused by a runaway rise in the equity market in the last one year, especially after formation of the new Government at the centre.But gold appears to be a clear winner for the middle class and white collar salary-earning employees. Interestingly while jewellery remains an all-time favourite with women, a sizeable percentage of working women covered in the survey are fast moving to stock markets as well through mutual funds schemes like Systematic Investment Plans (SIP) etc, highlights the survey.Gold bars are displayed at a gold jewellery shop in the northern Indian city of Chandigarh

As per the survey, about 72 per cent of 1,200 respondents said they preferred gold as an investing option followed by shares and mutual fund schemes this Diwali, helped by extra earnings from bonuses. The survey included responses of all corporates and Government employees located in Mumbai, Ahmedabad, Bangalore, Chennai, Delhi-NCR, Hyderabad, Jaipur, Kolkata, Lucknow, and Pune.Over 62 per cent of corporate employees in the survey preferred gold followed by shares and equities. The main reason for Government and corporate employees to foray into equities is the easy availability of advisory services by experts, reveal the respondents. “They are now focussing on investing in gold and stock markets rather than in traditional channels of investment like post offices, fixed deposit and PPF promoted by the Government,” said DS Rawat, Secretary General ASSOCHAM, while releasing the paper.

However, nearly 21 per cent of employees surveyed said they still preferred the traditional routes of investments as they assured them of safe returns. The demand for gold is on the rise in the run up to the festive and the ensuing marriage seasons. “This explains a huge rise of 450 per cent in gold imports in September causing concerns among the policy makers while the Government is mulling import curbs again”, said Rawat.

Though some of the PSU banks and other State-owned gold importing firms have stopped promoting gold sale because of the Government’s advice to cut gold import and consumption, the sale of gold ornaments, coins and bars has picked up .While gold provides ready liquidity, it continues to be treated as a safe haven against inflation. Jewellers have also launched several discounts and freebies while those marketing cars, real estate are also offering gold coins, points out the survey.

 (Pictures courtesy archives.deccanchronicle.com, in.reuters.com. Images are used for representational purpose only)

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Trends

More Mumbaikars think sitting MLAs were corrupt

Praja Foundation’s survey based on the October 15 State Assembly polls reveals people’s perceptions about incumbent MLAs and their parties.
by The Editors | editor@themetrognome.in

The Assembly 2014 verdict for Maharashtra is already out, with the BJP securing the most numbers of seats in 2014’s second consecutive election in Maharashtra (after the Lok Sabha polls). Numerous exit polls had already predicted this result, with such factors as anti-incumbency and a purported ‘Modi wave’ doing the rounds.

However, the Praja Foundation and Hansa Research has just revealed a survey which shows why Mumbaikars could have voted the way they did. It turns out that as per data mapped over the years 2011 to 2014, there is a 17 per cent increase in Mumbaikars rating their sitting MLA as ‘corrupt’. This could be fuelled by the MLAs’ performance, or the lack of it, in such areas as crime, health, education, and civic issues.

As regards health, some Assembly constituencies like Borivali, Magathane, Dahisar and Vikhroli have performed consistently poorly in areas of control, prevention and deaths related to malaria, diarrhoea, tuberculosis and dengue. These constituencies, apart from Chembur and Colaba, also feature under the ‘Crime’ category, having done poorly in the areas of murder, crimes against women, chain snatching and rioting.

Mumbaikars have also logged in more complaints on civic issues every year since 2011, with there being a 13 per cent increase in the numbers of people saying their quality of life has decreased in Mumbai.

These are the worst performing Assembly constituencies across all categories, as per the survey:

(Picture courtesy indianexpress.com)

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Trends

Malls staying open longer this season

Malls are cashing in on consumers’ festive spends by staying open longer than usual; many other experiences are on offer.

by The Editors | editor@themetrognome.in

This Diwali, you can go shopping at midnight. Really. You don’t have to wait for your weekend break to go shopping and wait endless hours in long lines at the payment counter, either. After work, just head to the nearest big shopping mall.

Malls in the city have revised their closing time to suit the increased footfall and busy lifestyles of Mumbaikars, with most major stores remaining open till midnight to suit shoppers. High Street Phoenix was the first off the block, with timings being revised from October 1, 2014. The mall added many new brands before the month began, and has thrown in midnight musical performances for shoppers as well. The mall remains open till 11 pm on weekends and 10 pm on weekdays.

Said Rajendra Kalkar, Senior Centre Director, The Phoenix Mills Limited,”We are enthused about extending our timings for new initiatives which are customised to the comfort and convenience of our patrons. We witness many shoppers who find it difficult to manage their leisure time post work due to accessibility at odd hours. This campaign intends to be a boon to such work-life balance.”

Other malls, too, like the Inorbit Mall in Malad and Vashi, have reportedly extended their timings to suit shoppers this season. Veera Mukherjee, a housewife based in Kandivali said, “I hope malls always remain open till late hours, because there are huge crowds in the evening hours of 6 pm to 8 pm. Shopping becomes easier once the crowds beginning to taper. If possible, they should also open for business earlier so that people can shop on their way to work.”

Another shopper, Akhil Morarka, said, “I need to buy gifts for my family back home in Bangalore. It is great news if malls remain open beyond 10 pm so that people like me can go shopping after work. Otherwise I have to do some last-minute shopping over the weekend.”

(Image courtesy mumbai77.com. Picture used for representational purpose only)

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Learn

J&K school students meet Maharashtra Governor

The students were very excited about their maiden Mumbai visit; most had seen the sea for the very first time.
by The Editors | editor@themetrognome.in

The State of Maharashtra hosts children from Jammu & Kashmir every year. However, the joy of the experience doesn’t seem to dim for everyone involved – for the children themselves, or the Government officials who meet them on their visit.

A group of 22 children belonging to the border area of Akhnoor in Jammu and Kashmir met the Governor of Maharashtra C Vidyasagar Rao at Raj Bhavan, Mumbai on Saturday, October 4, 2014. The children came from various villages located in areas closer to the Line of Control and are currently studying in Government schools. They shared their joy and excitement of visiting the city of Mumbai with the Governor. Many of the children said that they had seen a train and the sea for the first time in their life. The Governor enquired about the children and advised them to educate and to serve the nation.

The visit of the children to Mumbai and Pune was organised by the Maratha Light Infantry of Indian Army, under Operation Sadbhavana. The children were accompanied by three teachers and representatives of the 6 Maratha Light Infantry.

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Trends

17,665 dispute-free villages in Maharashtra?

Over 17,000 villages in Maharashtra are reportedly free of petty and major disputes, due to a Government scheme launched in 2007.
by The Editors | editor@themetrognome.in

Is it possible, in today’s hectic times, for any place to be totally dispute-free? If findings from the State Government are to be believed, as many as 17, 665 villages in Maharashtra are completely dispute-free?

A press release from the Chief Minister’s office last week gave the findings of the Government’s Mahatma Gandhi Tantamukh Gaon Mohim (Mahatma Gandhi Dispute Free Village Scheme) launched in year 2007. CM Prithviraj Chavan said, “Maharashtra is one of the largest states in the country with a huge cosmopolitan population spread across both rural and urban centers. With such dynamics, being able to make almost 17,665 villages completely dispute-free is a proud achievement for the State. Our innovative approach has been recognised on the international platform too as a model project by the United Nations. We believe the Scheme will continue to act as a catalyst for the welfare of villagers by engaging citizens to bring prosperity through peace.”

As per the Scheme, 1,741 villages became dispute-free in 2012-2013. Now, 47 villages are set to receive the Special Peace Award. 10 out of the 47 villages are from Buldhana district, followed by Sholapur (8), Kolhapur (7), Chandrapur (7), Yavatmanl (1), Nagpur Rural (1), Parbhani (1), Ahmednagar (3), Satara (2), Jalna (1), and Osmanabad (2).

The Scheme was launched with the aim of resolving minor conflicts, land related problems, cattle grazing, cremation grounds, etc. that normally snowballed into bigger communal and anti-social issues in the State’s villages. Under this scheme, villagers come together, collect data and amicably settle the thousands of pending cases in their village. The idea of this novel experiment was to decrease the number of pending cases in the judiciaries and so it is conducted without any help of lawyers and judges but by the police officials, police jawans and the active participation of residents.

Since its inception, says the Government:

• Record 17,665 villages dispute free in Maharashtra

• Complaints Resolved – 11,00,000

• Gram Panchayats felicitated (cash prize) – 16,004

• Gram Panchayats awarded (special prize) – 1,223

(Pictures courtesy www.panchayat.gov.in)

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Trends

Mumbai real estate losing out on NRI investments?

If a recent real estate survey is to be believed, Mumbai is not the top investment choice for NRIs any more.
by The Editors | editor@themetrognome.in

Mumbai has become a real estate nightmare, what with unrealistic, sky-high market rates making it impossible for people to buy their first homes in the city. For long, though, the real estate market in the city has somewhat been buoyed by investments from NRIs.

However, a recent report by ASSOCHAM (Associated Chambers of Commerce and Industry in India) reveals that Mumbai is no longer the first, or even second or third choice for NRI purchasers. As per the report, Bangalore is the most favourite property investment destination for NRIs, followed by Ahmedabad (2nd), Pune (3rd), Chennai (4th), Goa (5th), Delhi (6th) and Dehradun (7th).

“Indian property developers are anticipating a 35 per cent surge in inquiries from NRI-based purchasers as compared to last year about 18 per cent,” reveals the report, which was compiled based on a random survey of nearly 850 real estate developers in Delhi-NCR, Chandigarh, Mumbai, Kolkata, Bangalore, Hyderabad, Ahemdabad, Pune, Dehradun and Chennai. “NRIs feel confident about the new Government and are waiting for an investment-friendly market in various fields,” adds the survey.

The majority of real estate developers said that the NRI traffic is coming primarily from the UAE, US, Singapore, Australia, UK, Canada and South Africa. This year, the demand is more for the high-end property and commercial buildings. Said DS Rawat, Secretary General, ASSOCHAM, “With the revival in global economy, especially in the United States and Europe, people are more optimistic and looking for property to invest in. Both small and big developers are focusing on the NRI base in the US, UK and Asia Pacific Region this year.

“As per the findings, the share of NRI sales are currently at approximately 18 per cent and are likely to increase by 30 to 35 per cent in the coming year,” says the survey.

To tap a large section of the cash-rich NRIs living overseas, developers are not just conducting property shows, exhibitions and opening overseas representative offices, they are also expanding their existing distribution chains and entering into strategic partnerships to encourage investors from this cash-rich segment also.

The findings

– According to the survey, Bangalore tops in terms of investment from NRIs, who are considering settling down in India in the coming years. The major factors that drive NRIs to invest in Bangalore’s property market is the booming IT sector. It has the largest concentration of leading IT and ITeS companies. According to an estimate, there are 2,200 IT companies, over 664 MNCs, 183 biotechnology companies, and 248 BPOs operating in Bangalore.

– Growing number of IT/ITES companies in Bangalore provide lucrative job opportunities to NRIs who are considering settling in India. Moreover, exponential growth in infrastructure and real estate sector also contributes positively towards influencing NRIs to invest in the property market. The demand has also shifted from mid-segment housing to luxury housing in Bangalore.

– Ahmedabad (32 per cent) has continued to be the most stable market in terms of demand and absorption of both residential and commercial spaces.  NRI’s consider Ahmedabad as a safe place to invest in, with lenient government regulations regarding property investments by NRIs.

 

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