Affordable Housing Takes a Beating
On one hand, where mid-size to premium homes are finding many takers, demand for affordable housing has taken a sharp beating during the pandemic.
As per the latest report, the share of affordable housing in new launches has dropped to 26% from about 40% in 2018. At the same time, mid and premium segments' contribution in new launches increased to 39% in the first half of 2021 from 25% in 2018.
Affected livelihoods of lower and middle-income groups could be seen as a major reason for falling demand in the affordable housing segment. While prolonged work-from-home could have sparked demand for relatively larger homes.
Growing Overseas Investments
A higher number of Indian companies are seen investing directly in overseas markets. RBI revealed that in June, domestic companies made a direct investment of USD 2.80 bn in overseas ventures, from USD 1.39 bn, a year ago.
The majority of these investments were in the form of guarantee issuance and loans. Equity investments stood at USD 426.84 million out of the total investment of USD 2.80 bn.
Among the notable investors, Tata Steel, Wipro, and Tata Power invested in their fully owned units overseas. Reliance Industries, ONGC Videsh and Interglobe Aviation were the other major equity investors in the overseas ventures during June 2021.
The government is planning to introduce 23 new bills in the monsoon session, commencing from today, i.e. July 19, 2021. Out of this, 17 will be new while 6 have been already introduced in the parliament.
Among them, all eyes will be on the Insolvency and Bankruptcy Code (Amendment) Bill. The amendment is aiming to change the framework of the existing law to make it speedier, cost-effective, semi-formal, and less disruptive.
The opposition would be looking to corner the government on handling the second COVID-19 wave, farmer protests and rising fuel prices.