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Former Dharavi Land Tenants Included in Redevelopment Project, No One Will Be Homeless

January 21, 2025

Former Dharavi Land Tenants Included in Redevelopment Project, No One Will Be Homeless

A step towards transforming Dharavi, one of Mumbai’s most iconic slum areas, former tenants of the cancelled Vacant Land Tenure (VLT) scheme have been included in the multi-crore redevelopment plan. This decision, made by the Dharavi Redevelopment Project (DRP) and Slum Rehabilitation Authority (SRA), ensures that the former land owners from areas like Kumbharwada will benefit from the ambitious initiative without the fear of displacement.

SVR Srinivas, CEO of DRP/SRA, reassured the community, saying, “No one from Dharavi will be rendered homeless under this scheme as every tenement holder is going to get a home of their dreams.” This statement aims to alleviate concerns regarding the impact of the redevelopment on the residents, especially those who were previously part of the VLT scheme.

The VLT scheme was initially designed to protect vacant land from encroachment, with the intention of reclaiming it when necessary. However, with the formation of the DRP, the land under the VLT automatically falls under the Dharavi Notified Area (DNA) and is now covered within the redevelopment plan. This means there is no need for separate redevelopment of these areas, and they are now integrated into the larger project. The Adani Group, which emerged as the winner of the Dharavi redevelopment project through an open international bidding process, has partnered with the Maharashtra government to deliver this monumental project. The redevelopment, spearheaded by Adani’s joint venture company, Navbharat Mega Developers Private Ltd (NMDPL), will see the construction of both residential and commercial tenements. These properties will then be handed over to the DRP/SRA for allocation based on a comprehensive survey of existing residents and businesses.

Srinivas further highlighted the importance of cooperation in this process, stating that the ongoing survey is receiving tremendous support from the residents of Dharavi. “I am very confident that the former VLT owners will also participate in the ongoing process at the earliest,” he said. This initiative is vital for the long-term success of the redevelopment, ensuring that all stakeholders are considered and included in the transition. Dharavi’s redevelopment project, which is part of a broader initiative to rejuvenate Mumbai’s urban landscape, also focuses on creating sustainable infrastructure and providing vocational training to empower the local youth. These efforts aim to equip them with eco-friendly job skills, improving their earning potential and contributing to a more prosperous community. Additionally, the land freed up by the redevelopment will be used to create affordable housing for Dharavi’s residents. Eligible individuals will receive flats of up to 350 square feet at no cost as part of the government’s commitment to transforming this iconic slum into a vibrant, world-class district.

With a budget estimated at $3 billion, the Dharavi redevelopment project is expected to radically change the area’s landscape. The project’s long-term vision includes building not just homes, but a sustainable urban ecosystem that provides opportunities for economic and social growth. By addressing the needs of both the residents and businesses, the redevelopment aims to create a model for urban regeneration that can be replicated across the country. In closing, Srinivas also made an appeal to other private landowners within Dharavi, urging them to join the initiative. “There are a few private ownership areas in Dharavi, and I invite them to be part of the world’s largest urban rejuvenation project,” he said, emphasising the collaborative nature of this transformative endeavour. As the redevelopment project progresses, it promises to offer a better quality of life for Dharavi’s residents while also contributing to Mumbai’s urban development, making it a beacon for slum rehabilitation in India.

Reforms in Bengal Real Estate Sector Urged Before Union Budget

Kolkata

Homes and buildings

January 21, 2025

Reforms in Bengal Real Estate Sector Urged Before Union Budget

As the Union Budget 2025 approaches, real estate stakeholders in West Bengal have voiced a compelling call for policy reforms aimed at catalysing growth in the sector. Acknowledging real estate as India’s second-largest employment generator, industry leaders emphasised the need for initiatives that balance housing affordability, urban development, and infrastructure growth. This comprehensive push for change reflects the sector’s pivotal role in the country’s economic framework, with stakeholders like Sushil Mohta, President of CREDAI West Bengal and Chairman of Merlin Group, highlighting sustainable infrastructure development as a national priority.

Developers have proposed revising the definition of affordable housing to expand its benefits. This includes raising the price cap for affordable units from ₹45 lakh to ₹90 lakh, with an annual 5% increment to align with inflation. Another key recommendation involves introducing a credit guarantee scheme for housing loans up to ₹70 lakh, covering 80%-90% of property value, and home improvement loans up to ₹30 lakh. To ease financial burdens on homebuyers, industry experts called for an increase in the interest deduction limit for first-time homeowners from ₹2 lakh to ₹5 lakh and exempting annual rental income up to ₹20 lakh from taxation. Simplifying the GST structure to a single rate of 1% for all housing units also remains a priority for builders.

From a sustainability angle, the sector has urged for the reintroduction of the Credit-Linked Subsidy Scheme (CLSS) under the Pradhan Mantri Awas Yojana (PMAY), particularly for the youth below 40 years. Providing subsidies of 3%-4% on housing loans would make homes more accessible while fostering community development. Reducing long-term capital gains tax to 10% and lowering the holding period for property eligibility to 12 months were also highlighted as critical measures. Additionally, stakeholders recommended standardising and reducing stamp duty rates across states, offering rebates to first-time homebuyers to stimulate growth.

Civic and urban development advocates have underscored the importance of these reforms to ensure housing remains a fundamental right rather than a luxury. Reducing tax burdens and simplifying GST structures would empower middle-class families to invest in homes while creating a ripple effect on job creation and economic progress. Furthermore, a unified approach to stamp duty and infrastructural expansion would enhance urban mobility and environmental sustainability. With real estate integral to achieving India’s growth ambitions, the proposed reforms align with long-term economic and ecological goals.

Empowering Women in Real Estate Drives Growth

Homes and buildings

January 21, 2025

Empowering Women in Real Estate Drives Growth

The Indian real estate industry is awakening to the untapped potential of gender inclusion as a driver of growth and innovation. A groundbreaking report, Concrete Change: A Study of the Economic Impact of Better Pay Parity & Inclusion of Women in Real Estate, reveals that addressing gender disparities in the sector could significantly enhance productivity, profitability, and sustainability. Despite employing 57 million workers, only 7 million are women, highlighting the sector’s need for greater inclusivity.

Industry leaders such as Max Estates are championing this transformation. Sahil Vachani, MD and Vice Chairman of Max Estates, emphasised the critical role women can play in shaping India’s real estate future. “To achieve India’s Viksit Bharat vision, women’s inclusion is paramount. Real estate, poised to contribute $5-6 trillion to the economy by 2047, requires their insights, creativity, and resilience. At Max Estates, we’re committed to creating an inclusive industry that thrives on diversity,” he stated. The report underscores the importance of policies fostering equitable pay, workplace diversity, and collaborative initiatives to bridge the gender gap.

From a sustainability perspective, gender inclusion aligns with global Sustainable Development Goals (SDGs), enhancing community-focused urban planning. Women bring unique perspectives on empathy, collaboration, and environmental consciousness, reshaping real estate practices. However, achieving this requires a concerted effort from policymakers and industry players. The report recommends integrating gender-inclusive strategies, such as upskilling women for skilled roles and fostering workplace cultures rooted in equity and respect.

Civic and urban development stakeholders are also recognising the economic and social benefits of gender parity. As real estate contributes significantly to India’s GDP, closing the gender gap could unlock unprecedented opportunities for innovation and community development. Max Estates is taking the lead with initiatives such as academic partnerships to incorporate real estate modules, creating a future workforce attuned to diversity and equity. By prioritising inclusivity, the sector can set a benchmark for other industries while paving the way for holistic growth.

L&T and CCTE Join Forces to Lower Nuclear Power Costs with Thorium-Based Fuel Technology

Homes and buildings

January 21, 2025

L&T and CCTE Join Forces to Lower Nuclear Power Costs with Thorium-Based Fuel Technology

India’s nuclear energy sector is on the cusp of a transformative shift thanks to a strategic partnership between Larsen & Toubro (L&T) and Clean Core Thorium Energy (CCTE), a US-based firm. Together, they aim to develop and implement ANEEL, a cutting-edge thorium-based nuclear fuel technology, which promises to significantly reduce the cost of electricity generated from India’s nuclear plants by up to 30%.

Currently, nuclear reactors in India that rely on natural uranium generate power at a cost of approximately Rs 6 per kilowatt-hour (kWh). However, with the introduction of the ANEEL fuel technology, this cost could drop by 20-30%, creating an economically viable path for expanding India’s nuclear power capacity. Thorium, the core element of the ANEEL fuel, is not only more abundant than uranium but also provides several key advantages, including enhanced safety features, greater resistance to nuclear proliferation, and a reduction in nuclear waste by over 85%.

The collaboration between L&T and CCTE is critical in ensuring the successful deployment of the ANEEL technology in India. L&T’s extensive experience in the country’s nuclear sector, combined with its manufacturing capabilities, will ensure the smooth production and distribution of the new fuel. Meanwhile, CCTE’s thorium-based fuel is in the advanced testing stage at the Idaho National Laboratory in the US. This fuel, a blend of thorium and a small quantity of enriched uranium, is perfectly suited for India’s Pressurised Heavy Water Reactors (PHWRs) and is expected to significantly improve reactor efficiency. India’s nuclear energy expansion is a central part of the nation’s strategy to meet its growing energy demands while reducing carbon emissions. The country aims to increase its nuclear power capacity to 22 GW by 2032, up from 8.2 GW. This growth is supported by the government’s push for small modular reactors (SMRs), which will be integrated into industrial sectors like steel plants, refineries, and cement plants, as well as data centers and infrastructure projects. The collaboration between L&T and CCTE aligns perfectly with India’s vision to decarbonize and diversify its energy sources.

Additionally, the recent US-India nuclear cooperation, bolstered by high-level diplomatic exchanges, is expected to facilitate the importation of advanced nuclear technologies, such as the thorium-based fuel, into India. The renewed focus on clean energy in both countries further accelerates the progress toward utilizing thorium fuel to create a safer, more efficient nuclear energy future. While challenges remain, such as the Civil Liability for Nuclear Damage Act of 2010, which imposes supplier liability in the event of a nuclear accident, CCTE’s role as a fuel technology supplier, rather than a reactor system supplier, allows for a smooth integration of the ANEEL technology into India’s nuclear framework. As the law continues to evolve, this partnership will set the stage for a safer, more sustainable nuclear energy future. With the ongoing focus on clean, reliable energy, the use of thorium-based fuel in India’s nuclear plants is poised to revolutionize the nation’s energy landscape. The partnership between L&T and CCTE promises not only to reduce power costs but also to place India at the forefront of the next generation of nuclear technology.

30 Floating Pontoon Bridges at Maha Kumbh Provide Vital Infrastructure Using Ancient Persian Technique

Homes and buildings

January 21, 2025

30 Floating Pontoon Bridges at Maha Kumbh Provide Vital Infrastructure Using Ancient Persian Technique

The Maha Kumbh Mela in Prayagraj, one of the largest spiritual gatherings in the world, attracts millions of pilgrims every 12 years. To facilitate the smooth movement of people across the sacred confluence of the Ganga, Yamuna, and Saraswati rivers, the construction of 30 massive floating pontoon bridges has been a key infrastructure achievement. These bridges, inspired by a 2,500-year-old Persian technique, play a crucial role in ensuring the safety and efficiency of the event.

The pontoon bridges, also known as pipa bridges, connect the Sangam area to the sprawling akhada zones. Made with over 2,200 black iron pontoons, each weighing five tonnes, these structures are capable of supporting up to five tonnes of weight. A workforce of more than 1,000 laborers worked for over a year to complete the project, often putting in long hours to ensure its timely construction. The bridges utilize Archimedes’ principle to stay afloat, with the pontoons displacing water to create an upward force equal to their weight. These bridges have been equipped with rigorous safety measures, including CCTV surveillance, to monitor their stability and performance throughout the event. Additional District Magistrate of Mahakumbh Nagar, Vivek Chaturvedi, emphasized the importance of the bridges in maintaining order and providing safe passage for millions attending the Kumbh.

Historically, pontoon bridges have been used since ancient times, notably by Persian King Xerxes I during his invasion of Greece in 480 BC. While India saw the first pipa bridge built in 1874, the Maha Kumbh Mela project surpasses all past endeavors in terms of scale and complexity. The bridges can also accommodate heavy vehicles, including elephants, horses, and chariots, particularly during major events like the Amrit Snan. The total cost of constructing these 30 pontoon bridges amounted to Rs 17.31 crore. Some of the larger bridges, such as the one connecting the Shri Nagvasuki Temple to Jhusi, were built at a cost of Rs 1.13 crore each. After the event, the bridges will be dismantled and repurposed, either stored for future use or redeployed in other parts of Uttar Pradesh. These floating bridges are a testament to the ingenuity of ancient engineering, reimagined for modern use to accommodate the logistical needs of the world’s largest spiritual gathering.

Noida International Airport Poised to Revolutionise Air Travel in Delhi-NCR

Homes and buildings

January 21, 2025

India Airport Corridors Fuel Residential Land Demand

Noida International Airport Poised to Revolutionise Air Travel in Delhi-NCR

As Noida International Airport (NIA) prepares for its operational debut, CEO Christoph Schnellmann has shared exciting insights into its vision to redefine air travel across Delhi-NCR and Western Uttar Pradesh. Located near the Yamuna Expressway, the airport is set to offer superior connectivity, becoming a central transportation hub with access to major regions, including Noida, Greater Noida, and Delhi.

The airport’s initial phase, featuring a single runway and terminal, will accommodate up to 12 million passengers annually. However, once all four development phases are completed, the airport will handle up to 70 million passengers per year, positioning itself as a major player in the region’s aviation sector. The airport’s strategic location ensures excellent road access, with travel times as short as 25 minutes to Greater Noida and 45 minutes to central Delhi. Adding to the airport’s connectivity is the integration with the Delhi-Varanasi high-speed rail corridor, enhancing the airport’s role as a key transport hub. Christoph Schnellmann revealed that major airlines, including IndiGo and Akasa Air, are on board, with several international carriers from the Middle East and Southeast Asia expressing interest in launching services from NIA, thus enhancing its potential as a global gateway.

The airport is also focusing on its cargo operations, with a dedicated Multi-Modal Cargo Hub (MMCH) being developed in partnership with Air India SATS. This hub will initially handle 200,000 tonnes annually, with the capacity to scale up to 2 million tonnes in the future. It is expected to be a vital logistical facility for businesses in Delhi NCR and Uttar Pradesh. In line with sustainability goals, NIA is committed to eco-friendly development. Over 580 trees have been transplanted, and the airport will feature over 133 hectares of green space. Sustainable initiatives like solar and wind energy, rainwater harvesting, and electric ground support equipment reflect the airport’s focus on reducing its environmental impact. Additionally, a premium all-electric taxi service, in partnership with Mahindra Logistics Mobility, will contribute to greener travel options for passengers. Set to open in April 2025, Noida International Airport is poised to revolutionize the region’s air travel landscape, offering enhanced connectivity, modern amenities, and a green footprint to support sustainable growth and economic development.

Go First Airlines Enters Liquidation After Failing to Secure Revival Plan

Homes and buildings

January 21, 2025

Go First Airlines Enters Liquidation After Failing to Secure Revival Plan

Go Airlines (India) Ltd, popularly known as Go First, has been officially admitted into liquidation by the National Company Law Tribunal (NCLT) in Delhi, marking the end of the airline’s turbulent journey. This decision comes after the airline’s lenders and resolution professionals failed to find any viable proposals to revive the airline’s operations, despite months of financial instability.

The liquidation order follows Go First’s severe financial troubles, which began when the Wadia Group, the airline’s promoter, filed for voluntary bankruptcy in May 2023. The Wadia Group’s decision was primarily driven by persistent delays in the delivery of aircraft engines from Pratt & Whitney, which grounded a large portion of Go First’s fleet, crippling its operations. This led to the airline being placed under the corporate insolvency resolution process (CIRP) under the Insolvency and Bankruptcy Code (IBC).

The NCLT ruling noted that the resolution plans presented by interested parties were neither compliant with IBC requirements nor commercially viable. As a result, the Committee of Creditors (CoC) unanimously chose liquidation over continuing the search for a feasible revival plan. The decision reflects the difficulty of restarting commercial operations under the airline’s financial strain. Go First’s liabilities are estimated at a staggering Rs 8,575 crore. This includes debts owed to prominent banks and financial institutions, such as Rs 1,934 crore to the Central Bank of India, Rs 1,744 crore to Bank of Baroda, and Rs 774 crore to IDBI Bank. Additionally, the airline owes significant amounts to unsecured creditors, including Rs 90.88 crore to Bombay Burmah Trading Corporation and Rs 1,330 crore to Leila Lands Ltd. Furthermore, Go First faces outstanding dues of Rs 75 crore to its employees.

The liquidation process will see the sale of Go First’s assets in an effort to settle these debts. Dinkar T. Venkatasubramanian has been appointed as the liquidator, and he will oversee the process in accordance with the guidelines issued by the Insolvency and Bankruptcy Board of India (IBBI). This event serves as a stark reminder of the challenges faced by low-cost carriers, especially in a competitive and high-cost industry like aviation. Go First’s failure to secure a revival plan highlights the complexities of operating in this sector, where the costs of aircraft maintenance, fuel, and operational expenses can overwhelm a company without solid financial backing. The liquidation of Go First marks a significant chapter in the ongoing struggles of the airline, which once had a strong presence in India’s aviation market. The airline’s downfall underscores the critical importance of effective financial management and operational efficiency in sustaining operations within a competitive and volatile industry. For the aviation sector, Go First’s closure serves as a cautionary tale, particularly for low-cost carriers operating under challenging economic conditions.

Malviya Nagar Residents Face Infrastructure Challenges Amid Political Struggles

Homes and buildings

January 21, 2025

Malviya Nagar Residents Face Infrastructure Challenges Amid Political Struggles

Malviya Nagar, a diverse and historically rich locality in New Delhi, finds itself at the crossroads of rapid urbanisation and ageing infrastructure. Positioned between iconic Mughal-era monuments and modern institutions like IIT Delhi, this constituency is experiencing significant development challenges despite various efforts to modernise. The area continues to face persistent issues such as water supply shortages, overflowing sewage, public space encroachments, and crammed roads. These problems affect both newer upmarket areas and older localities, leaving residents frustrated and seeking solutions.

Chandan Kumar Yadav, a local teashop owner in Hauz Khas, acknowledges the civic improvements in recent years, such as better roads and functioning schools and hospitals. However, he points out the growing problem of inadequate parking spaces, exacerbated by the influx of residents and businesses. Neelam Verma, a 33-year-old resident of Hauz Rani, notes that the area has become overcrowded due to the growing number of students and young professionals attracted by affordable housing and proximity to metro stations. However, the infrastructure has struggled to keep pace with the growing population, leaving many residents facing daily inconveniences.

Malviya Nagar encompasses three municipal wards: Malviya Nagar, Hauz Khas, and Green Park. It is home to a mix of service sector employees, business families, and migrants from various states. However, infrastructure disparities are evident across the locality. Areas like Khirki, Savitri Nagar, and Arjun Nagar continue to grapple with inadequate infrastructure compared to wealthier zones like Hauz Khas and Safdarjung Enclave. Despite these challenges, the ruling Aam Aadmi Party (AAP) has defended its progress, with incumbent MLA Somnath Bharti attributing delays in development to interference from the BJP-controlled Municipal Corporation of Delhi (MCD). Bharti claims significant improvements in water supply, sewage systems, and waste management, despite external setbacks.

In response, Bharti’s political opponent, Satish Upadhyay from the Bharatiya Janata Party (BJP), has pledged to introduce “transformative initiatives” if elected. Upadhyay’s campaign focuses on enhancing water supply through the Har Ghar Jal scheme, improving waste management, creating multilevel parking to ease congestion, and installing CCTV systems for enhanced security. He has also promised the revival of parks and sports complexes, as well as an underground wiring project to improve aesthetics and safety. The ongoing political battle between AAP and BJP underscores the differing priorities each party has for Malviya Nagar’s future. However, residents agree that a balanced approach is necessary—one that addresses both basic infrastructure needs and the rapid growth of the area. As the election approaches, the outcome may shape the future development of Malviya Nagar, impacting the daily lives of its residents and its transformation into a more livable, modern urban space.

Apple India leases record ₹738/sq ft office in BKC

Homes and buildings

January 21, 2025

Apple India leases record ₹738/sq ft office in BKC

Apple India has redefined commercial leasing benchmarks in India by renting 6,526 sq ft of prime office space in Mumbai’s Bandra-Kurla Complex (BKC) at a record-breaking ₹738 per sq ft monthly rental. The deal, registered on December 19, 2024, highlights the growing demand for high-end commercial spaces in the country’s financial capital. Situated on the 10th floor of the Maker Maxity-5 tower, the leased space includes a 2,126 sq ft terrace. This development places Apple India’s footprint firmly in one of India’s most prestigious business districts, underlining its expanding operations in the region.

The five-year lease agreement, signed with Agni Commex LLP, commands a monthly rental of ₹48.19 lakh, with a substantial security deposit of ₹4.33 crore. The deal includes two lock-in periods ending in December 2027 and December 2028, reflecting long-term stability in Apple’s commitment to Mumbai’s thriving business ecosystem. This record-setting agreement surpasses the ₹700 per sq ft lease signed in June 2024 by IMC India Securities Pvt Ltd for another property in Maker Maxity. These figures underscore BKC’s status as the epicentre of India’s commercial real estate market, known for attracting global corporations.

This landmark deal comes amidst a surge in India’s office space leasing activity. According to Cushman & Wakefield, the sector recorded a historic gross leasing volume (GLV) of 89 million sq ft in 2024, with net absorption peaking at 50 million sq ft. Mumbai contributed 20% of the GLV, totalling 17.84 million sq ft, second only to Bengaluru. Apple’s strategic move aligns with this robust market growth, which reflects increasing investor confidence in India’s economic trajectory and urban development.

The Maker Maxity complex, a marquee development by the Maker Group, epitomises sustainable urban design, integrating five office towers with an upcoming luxury mall and a drive-in theatre. Its premium offerings, including fine-dining restaurants, make it an attractive destination for global businesses. Apple’s investment in such high-value real estate mirrors its vision of maintaining sustainability and excellence. With its flagship stores already operational in Mumbai and Delhi since 2023, Apple is solidifying its position in India’s commercial and retail landscapes.

Apple’s commitment to premium office spaces not only showcases its focus on long-term growth but also sets a benchmark for the evolving dynamics of India’s commercial real estate sector. The deal signals an exciting phase of urban and sustainable development in Mumbai, with BKC standing as a testament to India’s rise as a global business hub.

Mansukh Mandaviya Calls for Rs 15 Lakh Crore Annual Infrastructure Investment to Achieve ‘Viksit Bharat by 2047’ Vision

Homes and buildings

January 21, 2025

Mansukh Mandaviya Calls for Rs 15 Lakh Crore Annual Infrastructure Investment to Achieve ‘Viksit Bharat by 2047’ Vision

Union Minister Mansukh Mandaviya has emphasized the necessity of significantly increasing India’s annual infrastructure budget to Rs 15 lakh crore, a crucial step to realizing the country’s vision of becoming a developed nation, ‘Viksit Bharat’, by 2047. Addressing the inaugural session of the ISSA-ESIC International Seminar, Mandaviya outlined how this enhanced investment in infrastructure will be critical to sustaining India’s robust economic growth and meeting the social security needs of its expanding workforce.

Currently, India’s infrastructure budget stands at Rs 11.5 lakh crore. However, Mandaviya urged that this needs to rise to Rs 15 lakh crore per year over the next 25 years to transform the country by its 100th year of independence. The minister highlighted India’s progress from 2012, when the infrastructure budget was only Rs 1.2 lakh crore, to Rs 2.4 lakh crore in 2014, and the current allocation of Rs 11.5 lakh crore in 2024. Despite these increases, Mandaviya stressed that greater investment is necessary to meet long-term development goals. The minister further discussed India’s rapidly growing economy, which is driving higher purchasing power and creating new employment opportunities in emerging sectors like gig and freelance work. This shift, according to Mandaviya, necessitates a broader social security coverage to support workers in these evolving industries. He also shared the government’s significant strides in social security, noting that the coverage has increased from 24% in 2014 to 48% today, and with food security included, it now reaches 68%. The expansion of healthcare benefits has ensured that 600 million people now have access to health security, offering free treatment up to Rs 5 lakh.

Food security measures have been similarly expanded, now covering 800 million people with a monthly allocation of 5 kg of free foodgrains per person. These social security initiatives have lifted 250 million people out of poverty in the last decade. In addition, the increase in female workforce participation, from 22% to 44%, highlights the government’s efforts to create an inclusive economy. Mandaviya also highlighted India’s progress as a global market, with rising Foreign Direct Investment (FDI) and improvements in the Ease of Doing Business rankings, which have improved from 140th place to 63rd over the past decade. India’s growing startup ecosystem is another testament to the country’s evolving economic potential. Reflecting on the teachings of ancient philosopher Chanakya, Mandaviya emphasized that India’s economy should ensure dignity for all, particularly the poorest sections of society. As such, he stressed the need for all workers, including those in informal sectors, to receive social security benefits, encompassing health, pensions, and livelihood support. Looking ahead, Mandaviya pointed out that achieving the ‘Viksit Bharat’ vision by 2047 depends on sustained infrastructure investment and expanded social security measures for India’s growing and evolving workforce. He concluded by reaffirming the government’s commitment to the infrastructure and social security sectors, ensuring that India will continue on its path toward becoming a developed nation, with inclusive growth benefiting all citizens, irrespective of their employment status or sector.

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