Seventh Pay Commission can be potential game changer for struggling real estate

first_imgThe struggling real estate market in the country could get a major relief once the Seventh Central Pay Commission recommendations are implemented by the government as an increase in salaries of government employees is likely to boost the demand for home purchases.While, on the supply side, the country’s real estate sector is likely to be supported by recent easing of foreign direct investment (FDI) norms by the government, the implementation of the pay panel proposals is being seen as a “potential game changer” on the demand side.”The Pay Commission recommendations will have a significant impact on the real estate cycle in small towns as more than 80 per cent of Central government employees reside in tier II, III cities,” said analysts at Credit Suisse in a report.The Seventh Pay Commission, headed by Justice AK Mathur, recommended a 16% hike in basic salary and a 63% increase in allowances for government employees, taking the overall hike in salaries to 23.55%.The recommendations are expected to rise in incomes of 3.4 crore employees and pensioners once the state and central governments implement them. Housing and transport sectors are expected to be the biggest beneficiaries from an increase in incomes of government employees.”Altogether around 80 per cent of the beneficiaries would see an increase of less than Rs10,000 per month and account for 50 per cent of the payout. The rest would get around Rs 24,000 more every month on an average,” said the report prepared by Neelkanth Mishra, Prateek Singh and Ravi Shankar of Credit Suisse.The report said that those employees who who will see an increase in monthly salary by around Rs 24,000 are likely to play a key role in pushing up the demand in the housing sector.”Most of this impact is likely in the smaller cities (only 20 per cent of central government employment is in the tier I cities). The Pay Commission recommendation, in our view, is an important milestone in the real-estate cycle in the smaller towns, recent weakness was likely the effect of the last pay commission fading,” The Indian Express quoted the Credit Suisse report as saying.last_img read more

Amazon replaces Alexas voice with Cardi B Gordon Ramsay and others in

first_imgMike George, VP Alexa, Echo and Appstore for Amazon, speaks during the LG press conference at CES in Las Vegas, U.S., January 4, 2017.REUTERS/Rick WilkingA day ahead of Superbowl LII, Amazon has launched a new ad for its voice assistant Alexa. It shows Alexa losing her voice and the company trying to find a replacement.Amazon CEO Jeff Bezos is then seen asking his employees whether the new team will be able to do its work and the employees assure him that there will be no problem with a confused expression.In the 90-second video, the first user asks Alexa, “How far is Mars?”. And singer Cardi B responds, “How far is Mars? Well, how am I supposed to know? I have never been there!”Later, British celebrity chef Gordon Ramsay uses abusive language to explain a complicated recipe for a grilled cheese sandwich. And when Alexa is asked to play country music, Cardi B sings her hit track “Bodak Yellow”. LAS VEGAS, NV – JANUARY 05: An Amazon Echo device is displayed at the Ford booth at CES 2017 at the Las Vegas Convention Center on January 5, 2017 in Las Vegas, Nevada. Ford is incorporating the voice operating device into its vehicles. CES, the world’s largest annual consumer technology trade show, runs through January 8 and features 3,800 exhibitors showing off their latest products and services to more than 165,000 attendees.Photo by David Becker/Getty ImagesAnthony Hopkins also speaks with dramatic pauses and terrifies the Alexa owner. On a request to “set the mood”, Australian actress Rebel Wilson responds by talking dirty to guests at a dinner party.At the ending of the video, Alexa gets her voice back and thanks all the celebrity by saying “thanks guys, but I will take it from here”Amazon will broadcast three 15-second videos in the first three-quarters of the Super Bowl. In the videos, people will see the celebrities receiving their headsets to work as replacements to Alexa’s voice. Then in the fourth quarter, the full 90-second video will be aired.The video was aired by Amazon on January 31 but has now been deleted from its YouTube channel for reasons best known to them. Those interested can watch the video on GSM Arena.last_img read more

Foot tap your way into New Year

first_imgYes, we do know that this new year, the cops plan to play party pooper. And the people around you must be junking all their previously-made plans and gearing up for a house party. But think of it. Do you really want to take all that trouble when you can just let professionals do it all for you? So relax, sit back and let the star hotels plan it all for you. At Sevilla in The Claridges, Aurangzeb Road, enjoy a romantic seven-course Mediterranean dinner (7.30 pm onwards, Rs 5,995 plus taxes per person) dinner along with sparkling wine and premium beverages. Or opt for a  celebratory dinner with an extensive salad and dessert buffet at their all-day diner Pickwicks. There will be a selection of Continental dishes including traditional fare with unlimited house wine (Rs 2,995 plus taxes). Also Read – ‘Playing Jojo was emotionally exhausting’Let the party be ‘international’ at the Meridien Musique Medley at Windsor Place’s Le Meridien. Shake a leg or two at this happening party in the largest dance floor of the city with a DJ playing popular numbers. If you feel hungry, go to one of their many dining destinations for sampling cuisines of your choice. The Spotlight Group of dancers from London will match their groovy steps with Jazz, Latino, Samba, Hip Hop and belly dancing (starting Rs 10,000). Also Read – Leslie doing new comedy special with NetflixOr kick off the new year with a celebrity DJ spinning groovy numbers and free-flowing beverages with exotic snacks at Aura, the Vodka Bar at The Claridges (Rs 3,995 plus taxes).  Avoid the riff raff and step into the new year in romantic mood. Love Story 2020 at Le Meridien is just a unique way to do it. Start the romance with a chaffeur-driven stretch limo that will pick you up from your doorstep. Walk into the star property and a high-speed elevator will whisk you and your partner straight to the 20th floor where a personal salon full of roses will be set up for you. There’s more in the form of a personal butler. Sip some champagne as a guitarist  strums love ballads of your choice. There will also be a seven-course menu with unlimited beverages. Rejuvenate yourself at the spa as you wake up on 1 January and enjoy some buffet breakfast before the limo drops you home. All of this for a neat Rs 5 lakhs. Tempting enough?last_img read more

Mamata government reduces fuel tax by Re 1 per litre

first_imgKolkata: Urging the Centre to reduce the cess on fuel prices, West Bengal Chief Minister Mamata Banerjee on Tuesday announced that her government has decided to reduce the tax on petrol and diesel by Re 1 per litre. “We demand the Central government to reduce the cess on petrol and diesel. The price of crude oil has gone down, but they are increasing the prices and cess. Both cannot happen simultaneously. The state government does not get any percentage from the cess. Also Read – Rain batters Kolkata, cripples normal life “In this situation, our government has decided to reduce the prices of petrol and diesel by one rupee per litre,” she said at the state Secretariat Nabanna. She also said mismanagement is going on. The cess imposed by Central government has been increased and no attempts are being made to bring stability in the fuel prices, Banerjee alleged. “In January, 2016 the petrol price was Rs 65.12 a litre and in September 2018 the price has risen to Rs 81.5 per litre. So the petrol price has gone up by Rs 16.48 per litre. Diesel price was Rs 48.80 a litre in 2016 ,now it has risen to Rs 73.26 per litre, which is a hike of Rs 24.46,” Banerjee said.last_img read more