Has housing become more affordable now?

From The Economic Times

While property prices have gone up significantly over the past couple of years, so have the salaries. The cost of property for an average Indian in 1995 was about 22 times his annual salary. Today, he can buy it at just under 5 times his annual salary.

Read more: The Economic Times

Infrastructure

Govt seeks fast-track clearances from states for stuck infra projects

In a bid to speed up stalled infrastructure projects, the cabinet secretary has decided to write to all the states to fast-track statutory clearances. According to a senior government official, a committee of secretaries that met on Monday decided that within two weeks all infrastructure ministries will submit a list of delayed projects along with the reasons for delay.

A new team has been set up within the cabinet secretariat to review these projects on weekly basis, the official added. The three-member team constitutes an additional secretary and two joint secretaries.

Read more: The Indian Express

Railway earnings up 12.73% in April-May

Indian Railways has posted a 12.73 per cent rise in approximate earnings from April 1 to May 31 this year to Rs 22,439 crore, compared with Rs 19,905 crore during the same period last year. Goods earnings have gone up from Rs 14,169 crore in April-May 2012 to Rs 15,660 crore during the same period this year, a rise of 11 per cent.

Passenger revenue earnings during the period were up 17 per cent to Rs 5,803 crore, against Rs 4,940 crore during the same period last year.

Revenue earnings from other sources amounted to Rs 696 crore during April-May, compared with Rs 490 crore during the same period last year, an increase of 42 per cent.

Read more: Business Standard

Retail

Consumer goods may turn costlier as rupee weakens

The rupee’s fall seems to be taking a toll on consumer durables firms. Many companies are firming up plans to hike product prices due to dependence on imports.

LG India on Monday said that it would hike prices by 3-5 per cent from June 18 across its home appliances such as refrigerators, washing machines, microwaves, vacuum cleaners, air and water purifiers and dish-washers.

The rupee’s fall seems to be taking a toll on consumer durables firms. Many companies are firming up plans to hike product prices due to dependence on imports.

LG India on Monday said that it would hike prices by 3-5 per cent from June 18 across its home appliances such as refrigerators, washing machines, microwaves, vacuum cleaners, air and water purifiers and dish-washers.

Read more: The Hindu Business Line

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