Data recap: Free food scheme, OTT users, home sales
Narendra Modi has announced a five-year extension to the free ration scheme, Pradhan Mantri Garib Kalyan Anna Yojana. The combined viewership for OTT platforms increased by 13.5% in 2023, but the growth rate has slowed, data from Ormax showed. Ahead of the Lok Sabha polls next year, the government has decided to extend the free foodgrain scheme, originally set to conclude after December, for an additional five years.
The PM Garib Kalyan Anna Yojana (PM-GKAY) was started during the time of covid-19 crisis. It was amalgamated with some tweaks with the National Food Security Act in December 2022, and extended by a year till December 2023. The need of a five-year extension brings back the question whether distress is persistent among poor Indians.
The festive quarter of October-December this year is expected to be the best-ever festive period for home sales, industry estimates show. Anarock Property Consultants has predicted a potential 25-30% surge compared to the year-ago period, which saw an estimated 92,164 units sold in the top seven cities. From January to September, there has been a significant surge in sales already, with 84,400 homes priced at ₹1.5 crore and above sold, marking a 115% year-on-year increase.
$1.5 billion: That's the amount the Adani group is considering to invest to start the redevelopment work at Mumbai’s Dharavi slum, Mint reported. The slum, Asia's largest, is a sprawling 590-acre compound consisting of haphazardly arranged structures and fragile tenements. The deteriorating buildings provide shelter to over 900,000 residents, along with numerous small commercial establishments.
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