Union Budget 2025 Live 21 Jan 2025

January 21, 2025 12:16 PM
Union Budget 2025 Live: RBI Reshuffles Deputy Governors’ Portfolios

The Reserve Bank of India (RBI) announced a reshuffle of portfolios among its deputy governors following the retirement of Dr. Michael Debabrata Patra, its senior-most deputy governor. The key Monetary Policy Department has been handed over to M Rajeshwar Rao, the senior-most deputy governor.

The reshuffle has impacted 33 departments, which have now been distributed among the three deputy governors—Rao, T Rabi Sankar, and Swaminathan Janakiraman. As part of the rejig, Rabi Sankar will manage 13 departments, including Currency Management, Information Technology, Financial Markets Operations, and Financial Markets Regulation.

Meanwhile, Swaminathan Janakiraman will take charge of nine departments, including Supervision and the Deposit Insurance and Credit Guarantee Corporation.

January 21, 2025 12:16 PM
Union Budget 2025 Live: NAREDCO Proposes Hike in Housing Loan Interest Deduction

The National Real Estate Development Council has proposed significant reforms ahead of the Union Budget 2025, focusing on the housing sector. NAREDCO has called for an increase in the housing loan interest deduction limit from ₹2 lakh to ₹5 lakh to boost affordable housing.

Additionally, NAREDCO is advocating for granting infrastructure status to the housing sector, which would help attract more funds and foster growth in affordable housing, urban development, and road infrastructure. NAREDCO’s Chairman, Niranjan Hiranandani, expressed concerns about the stagnation in the affordable housing sector, marking the first decline in growth during his 40-year career.

Read the full story here.

January 21, 2025 12:16 PM
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