#WeeklyNewsRoundUp: India Jumps 13 Spots To Rank 130th On Economic Freedom Index
Description
From its previous ranking of 143 on The Heritage Foundation’s Index of Economic Freedom in 2017, India is placed at the 130th spot this year, a jump of 13 positions. However, reforms undertaken by the government to improve the state of affairs have yet to make the desired impact. Unclear land titles are one of the major challenges India faces today, the report indicates.
***
Suraksha and Dosti, the companies that have emerged as the top contender to take over ailing Jaypee Infratech, have estimated that nearly Rs 2,000 crore is required to complete work in 250 towers in Jaypee Wishtown. The nearly Rs 3,750 crore that is due from homebuyers will take the amount to about Rs 6,000 crore, though. The two partners say they would complete projects of the beleaguered company that have been stuck for over a decaude now.
***
The Noida Authority is yet to prepare a list of defaulter builders who have repeatedly failed to clear their respective land dues. In October last year, the Noida Authority Chief executive officer had issued an order to officials to make a list of defaulters and issue them recovery notices. Six months on, the authority is yet to launch action.
***
On April 8, over a hundred buyers of Lotus Panache, a project by real estate major 3C Company, protested outside one of its directors’ house over delayed construction. According to the buyers, who have been waiting for their flats for the past nine years, they would soon form a human chain near the Prime Minister’s Office to mark their protest. Located at Sector 110 in Noida, Lotus Panache is a residential project of 30 towers, of which nine have been constructed and handed over.
***
The Centre on April 9 told the Supreme Court it planned to set up a special task force (STF) to oversee the enforcement and implementation of laws to deal with unauthorised construction in Delhi. The STF would identify encroachments on government land, suggest the course of action and oversee effective enforcement of applicable laws by local bodies.
Source: Media reports