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.
Additionally, promoters and their groups are required to retain a minimum of 20% of the company at the time of application.
Furthermore, applicants must demonstrate revenue from operations exceeding ₹100 crore in the previous financial year and show positive operating profits in at least two of the last three financial years. The total number of public shareholders must also be at least 500 on the application date.
The NSE outlined several other prerequisites for SMEs aiming to shift to the main board. Notably, there must be no proceedings initiated against the applicant company or its promoters under the Insolvency and Bankruptcy Code, nor should there be any admitted winding-up petitions from NCLT/IBC.
The net worth of the company must be no less than ₹75 crore. Additionally, the NSE emphasized that there should be no significant regulatory actions, such as trading suspensions against the applicant company or its promoters, in the past three years. There should also be no debarments involving the company, its promoters, or its subsidiary by SEBI.
Further, applicants must ensure that directors have not faced disqualification or debarment from any regulatory authority, and there should be no unresolved investor complaints in the SCORES system.
The report further indicates that the average residential price in the Delhi NCR market surged to ₹8,300 per sq ft in Q1 2025, a substantial increase from ₹4,580 per sq ft in Q1 2020.
Notably, as property prices have increased, the unsold inventory in Delhi NCR has decreased by 51%, falling from 173,117 units at the end of Q1 2020 to 84,500 units by Q1 2025. Key reforms, such as the Real Estate Regulation Act (RERA) of 2016 and the launch of the Special Window for Affordable and Mid-Income Housing Fund, have played a crucial role in stabilizing the real estate market.
In Gurugram, residential property prices rose to ₹11,300 per sq ft in Q1 2025, up from ₹6,150 per sq ft in Q1 2020, marking an appreciation of 84%. Meanwhile, Noida saw prices increase by 92%, from ₹4,795 per sq ft in 2020 to ₹9,200 per sq ft this year.
The NCR residential market introduced 53,000 new units in 2024, reflecting a nearly 44% increase from the previous year. The report highlights a growing preference for luxury and ultra-luxury housing in Delhi NCR over the past three years.
Furthermore, Ghaziabad and Greater Noida reported declines in unsold inventory of 58% and 56% respectively over the five-year period. Prior to the pandemic, affordable units priced below ₹40 lakh were predominant in the supply pipeline; however, the current trend leans toward luxury and ultra-luxury homes. In 2024, affordable housing comprised only 11% of total launches in NCR, a significant drop from 62% in 2020.
Additionally, the ultra-luxury segment, characterized by units priced above ₹2.5 crore, represented nearly 59% of the total Delhi NCR housing inventory in 2024, compared to just 4% in 2020.
Business
More than 83,000 Tobacco Farmers to Gain from Centre’s Extension of License Validity to Three Years
According to the ministry’s statement, the new three-year validity for registrations and licenses is part of a broader initiative to enhance the ease of doing business.
To implement this change, the Government of India has amended sub-rules (5), (6), and (7) of rule 33 and sub-rules (2) and (3) of rule 34N of the Tobacco Board Rules, 1976. The amendments, which were published in the Gazette of India by the Ministry of Commerce and Industry, will take effect from the 2025-26 crop season in Andhra Pradesh.
This policy amendment is expected to significantly benefit around 83,500 farmers operating approximately 91,000 barns in Andhra Pradesh, Karnataka, Telangana, and Odisha, facilitating their registration and licensing processes more efficiently.
Virginia tobacco cultivation in India is regulated under the Tobacco Board Act of 1975 and the associated rules. Under this legislation, growers must obtain a registration certificate and a barn operation license from the Tobacco Board.
As the second-largest producer and fourth-largest exporter of unmanufactured tobacco globally, India generated $1,979 million (approximately ₹16,728 crore) from tobacco exports during the financial year 2024-25, as noted in the statement.
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