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Govt eases FDI norms for single-brand retail – Weekly News Round Up

Weekly News Round Up RealtyMyths

Welcome back to the Weekly News Roundup! Let’s see what’s in the bulletin for this week.

  • The East Delhi Municipal Corporation (EDMC) has approved a proposal under which the Cooperative Group Housing Societies (CGHS) under the jurisdiction of the civic body will be allowed a property tax rebate of 5%, only if they install rainwater harvesting system in the societies’ premises.
  • Recently Bombay High Court ordered to demolish all structures constructed in the Mumbra-Diva area, in order to protect the mangroves in the coastal area of Mumbai. HC also issued instructions to fine the violators under the Forest Conservation Act.
  • Leh which is the headquarters of the recently formed Ladakh Union Territory is soon expected to be counted in the list of the Government’s Smart Cities Mission.
  • The government-sanctioned foreign investment in digital media up to 26%, allowed 100% foreign investment for coal mining and contract manufacturing, and relieved sourcing norms for single-brand retailers.
  • Finance minister Nirmala Sitharaman declared that banks will soon launch loans benchmarked against the RBI’s repo rate, which would lead to lower EMIs for home, auto and other loans.

That was all for today, we’ll be back next week until then stay updated and make smart decisions in life.

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