Liji Narayan

Investigations are the bedrock of journalism at The Indian Express. Our latest investigation by Aiswarya Raj and Dheeraj Mishra uncovers how a showpiece tourism project in Uttarakhand — 142 acres of prime land at the George Everest Estate near Mussoorie, with pathways, a helipad, huts, cafés, museums and an observatory — was awarded through a tender process that raises serious red flags. Records show that all three companies that bid for the contract, including the winner, are controlled by the same man: Acharya Balkrishna, co-founder of Patanjali and aide to Baba Ramdev. His stake? 99.85%, 99.98% and 69.43% in the three firms. The tender violates the mandatory anti-collusion undertaking. Yet the state government insists “process was followed.” This is what investigative reporting looks like: going beyond the official version, scrutinising records, and asking the tough questions. Link to investigation in comments

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NPS (All Citizens) is not even the size of many MF schemes. Why is it failing? For starters, NPS was made accessible to the general public through the so-called All Citizens model. But the response has been sub-par.😶 After 16 years of launch, it has less than Rs 77,000 in AUM. That's less than the AUM some MF schemes manage. So why has the govt failed to attract voluntary NPS? Here's why: 🌊 1) Broken distribution model PoPs can charge up to ₹400 for account opening and 0.5% on fresh contributions (capped at ₹25,000/year), but unlike MF distributors, they earn nothing from AUM. If a pension agent sources clients, PoPs must share their already meagre revenue. Selling MFs or life insurance annuities is far more rewarding. Retirement advisers (the RIA equivalent for NPS) have also failed to gain traction. They can charge only up to ₹1,000/year in advisory fees. 2) Losing the natural pull (Culprit: New tax regime) In the old regime, NPS is eligible for an overall Rs 1.5 lakh deduction under the old tax regime. Under Section 80CCD(1B), another Rs 50,000 is eligible for deductions if put in NPS. NPS used to sell like hot cakes due to the 80CCD (1B) benefit. That changed when the new tax regime was introduced, and many people shifted there. A whopping 72% of taxpayers opted for the new tax regime last year. It will only go up. The only tax break under the new regime is for the employer's contribution. (That part of NPS is doing well) Harsh Roongta told me that nowhere in the world are retirement products sold without some compulsion or tax benefit.🌎 It'll be interesting to see what the new PFRDA chairman does to increase NPS adoption in the non-government segment. Read: https://lnkd.in/gn38ZME8

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Got wrongly enrolled into EPS? 😓 Here’s the real struggle when you seek corrections: 👉 Entries till FY24 will get fixed. 👉 But for service days of FY25 or FY26, be ready to wait endlessly. Why? Because EPFO fixes things only after the interest credit cycle closes — and backlog makes it worse. 👉 And no, they won’t do it in one shot. You’ll have to knock on EPFO’s doors twice to get it all sorted. One wrong tick during onboarding = years of delay in accessing your own PF money. Thanks to Kunal Kabra and Ketan Das for inputs.

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Is Mumbai’s housing society redevelopment just a numbers game, and what’s a fair extra area for homeowners? Mumbai redevelopment news: Developers call it a numbers game, warn of irrational deals over ₹1 lakh per sq ft, urge homeowners to be cautious. According to a report titled Upgrading Mumbai- The redevelopment story released by Knight Frank India, a real estate consultancy, locations where sale prices are below ₹40,000 per sq ft, developers ideally cannot share more than 30–35% of the total area with the society. "This ratio moves up to 35–40% in markets priced between ₹40,000 and ₹60,000 per sq ft. However, even in locations as premium as ₹75,000 per sq ft, the share to society members cannot practically exceed 50% of the total built-up area," the report said. Full story link in the comment section below 👇 #realestate #redevelopment #Mumbai #housingsociety

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The promised downward revision of prices of Jaguar and Johnnie Walker is barely a hot topic of discussion as the absence of tomato in rasam and of coconut in chutneys these days. For the EMI-trapped generation, the fall in interest rate still tops the list. On the other side, people from the bottom of the pyramid, which shrinks only when the cutoff is raised for political convenience, are more bothered about their daily bread. Your personal income may be rising slowly in pure numbers but persistently shrinking in value and in what it can afford to buy for you. What is heartening now is that some governments have begun to talk about putting more money in the hands of people; the promise of repatriating black money from Swiss banks and sharing the booty with common people has outlived its utility and died. Some promises are meant to perish as empty promises. So be it. When a government makes a serious effort at bringing in investments, taps the inherent potential for revenue growth, and spreads the message of social welfare to help people escape the poverty trap, it is the first baby step towards heralding economic progress. Tamil Nadu has taken the lead to announce to the world that the per capita income (at constant prices) has jumped to nearly Rs 2 lakh, making it the second-highest in India, just behind Karnataka’s Rs 2.05 lakh. A balanced economic model, robust infrastructure, and skilled workforce have been the key drivers. TN’s economic growth at 9.69% in 2024-25, the highest in India, has surely given it a push. If BJP wants to take pride in the rise in national per capita income (at constant prices) to Rs 1.15 lakh in 2024-25, up from Rs 72,805 in 2014-15, it ought to thank the southern states. Karnataka, TN, and Telangana have topped the chart, helping the national average to record an impressive 58% growth in the last 11 years, while the growth in BJP-ruled states is nothing to write home about. What is surprising is the candid admission by Pankaj Chaudhary, Union Miniter of State for finance, that the disparity is due to “differences in industrial base, economic development levels, structural challenges, and governance quality” in an apparent reference to the BIMARU states and their economic condition in comparison to the rest of India. Double-engine sarkars that attempted to rev up growth with central aid have clearly failed to catch up with the southern states, which are on a high despite dwindling support from Delhi. For instance, UP’s per capita income stands at Rs 84,000, making it the second lowest, above Bihar, way below the national average of Rs 1.15 lakh... Here’s my column: https://lnkd.in/gNRUNqUJ

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IPO-bound Companies are facing a new, rigorous test to identify who all are their 'Promoters'. Stock exchanges are insisting on a comprehensive definition of promoters -- Who is in 'control'? What defines control? And, who is in a position to 'influence' the board even if the person does not own shares? Exchanges have had a few rounds of discussions with SEBI on the matter. Will the regulations have a new, wider definition of 'promoters'? ET, Aug 11, 2015 Legal experts Kaushik Mukherjee & Sudhir Bassi share their views https://lnkd.in/dCJYSU_w

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