Business
Sitharaman Introduces ₹1 Lakh Crore Urban Challenge Fund
The Budget also proposed the initiation of a National Geospatial Mission, which will focus on developing foundational geospatial infrastructure and data. Leveraging the PM Gati Shakti initiative, this Mission is expected to enhance land record modernization, urban planning, and infrastructure project design.
The Finance Minister emphasized the Government’s commitment to supporting the urban poor and vulnerable populations. A new scheme aimed at the socio-economic upliftment of urban workers will be introduced to help increase their income, ensure sustainable livelihoods, and improve their quality of life.
Recognizing the significant role of gig workers in the modern services economy, the Government plans to provide them with identity cards and registration on the e-Shram portal, ensuring they receive healthcare benefits under the PM Jan Arogya Yojana. This initiative is projected to assist nearly one crore gig workers.
She highlighted the success of the PM SVANidhi scheme, which has already benefitted over 68 lakh street vendors by alleviating their burden from high-interest informal loans. The scheme will undergo a revamp to introduce larger loan amounts from banks, UPI-linked credit cards with a limit of Rs 30,000, and additional capacity-building support.
Furthermore, under the Special Window for Affordable and Mid-Income Housing (SWAMIH), 50,000 dwelling units from stressed housing projects have been completed and keys have been handed over to homebuyers. An additional 40,000 units are expected to be finished in 2025, providing further assistance to middle-class families managing EMIs for home loans alongside rent obligations.
To expand on this success, SWAMIH Fund 2 will be launched as a blended finance facility, incorporating contributions from the Government, banks, and private investors. This new fund, with an allocation of Rs 15,000 crore, aims for the expedited completion of another 100,000 housing units.
Highlighting India’s status as the second-largest global producer of fish and aquaculture, with seafood exports valued at Rs 60,000 crore, she announced the Government’s intention to create an enabling framework for sustainable fisheries management within the Indian Exclusive Economic Zone and the High Seas. This will particularly target the Andaman & Nicobar and Lakshadweep Islands, unlocking the untapped potential of the marine sector.
Chikkaballapur: The Chikkaballapur Milk Union (Chimul) has announced good news for milk producers in Chikkaballapur district. The union has decided to increase the milk procurement price by 50 paise per litre, which will benefit dairy farmers in the district.
Earlier, on January 1, Chimul had increased the price by Rs.1 per litre as a New Year benefit to farmers. Now, the union has announced an additional 50 paise increase.
With this latest revision, dairy farmers will receive Rs.36.40 per litre for milk. The 50 paise increase will remain in effect until the end of May.
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Chimul President Manjunath Reddy told Public TV that the union will review its profits and may continue the price increase in the future based on financial performance.
The decision is expected to provide some relief and encouragement to dairy farmers in Chikkaballapur district.
Business : After the death of parents, legal heirs are eligible to inherit their property. However, certain procedures must be followed before the transfer is completed in India.
Heirs must file the deceased person’s income tax return for the year of death and pay any pending taxes. There is no estate tax on inherited property in India, but any income earned from it, such as rent or interest, is taxable.
If the property is sold, capital gains tax will apply based on the difference between the original purchase price and the selling price. Clearing any outstanding loans linked to the property is also mandatory.
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Important documents such as the will, succession certificate, death certificate, and property valuation report should be kept ready to ensure a smooth transfer process.
New Delhi: Banks across India will remain closed on February 14 as it falls on the second Saturday of the month. The holiday is part of the official schedule released by the Reserve Bank of India, which requires banks to shut on the second and fourth Saturdays and all Sundays.
Customers are advised to finish important financial tasks early to avoid last-minute trouble. Every year, the RBI publishes a holiday calendar that lists national holidays, regional festivals, and other scheduled closures.
In February, banks in some states will also close for regional occasions such as the birth anniversary of Chhatrapati Shivaji Maharaj and Statehood Day in Mizoram and Arunachal Pradesh.
READ MORE :Class 1st Girl Loses Two Fingers in School Accident
Even though bank branches will remain closed, digital services like ATMs, internet banking, and UPI will continue to work normally.
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