Journalism of Courage
The Pune Cantonment Board (PCB) has decided to take up with the Ministry of Sports and Youth Affairs the matter of establishing a sports academy at Golibar Maidan.
A decision to send the proposal requesting allotment of funds was taken during the recent general body meeting of the board. The matter was also taken up during the recent visit of Jitendra Singh,Minister of State for Defence.
The long pending issue might get a boost given the fact that Jitendra Singh also holds independent charge as the Minister of Sports Affairs and Youth.
The Indian Express had in 2010 reported how the proposal has been hanging in the balance for about 20 years. Earlier,the PCB had proposed that the complex would be constructed on build,operate transfer basis as the board was facing shortage of funds.
In September last year,the general body of PCB had decided that the complex would be constructed without use of private funds and instead planned to approach the Central government for the release of funds.
The earlier plan was to build the complex using private funds on BOT basis. The plan was approved and even an architect was appointed. In December 2008,the foundation stone-laying ceremony was attended by MP Suresh Kalmadi and the then GOC-in-C of Southern Command Lt Gen Noble Thamburaj. In April 2010,the PCB general body approved construction of the complex at a cost of Rs 22 crore with the involvement of a private developer on BOT basis.
But with no private developer in the latest decision,the earlier plan of including a commercial complex has also been scrapped and the estimated budget has been scaled down. It has been agreed that the complex will be be developed by the PCB using Central funds.
As per the latest figures,the board may require nearly Rs 1.31 crore for the provision of a jogging track,the gallery,a football ground and a lawn.
Another Rs 4 crore will be needed for construction of an indoor sports building,along with facilities such as road,sewage disposal system and others.
CREDAI slams monetary policy of RBI
CREDAI,the confederation of real estate developers,has expressed disappointment over the Reserve Bank of Indias decision to cut repo rate by just 25 basis points. The association said the central bank had missed a chance to infuse the real estate industry in the proper manner.
CREDAI president Lalit Kumar Jain pointed out that risking inflation for growth was the right economic policy. Inflation could well be curbed by giving a big boost to production and flooding market with supplies. It is not a prudent policy to risk anarchy through a tight monetary policy.
Judging by the Ministry of Housings pragmatic approach towards the real estate industry,the developer community was hopeful that the RBI too will soften its stand and help the sector revive. But the continued stubborn approach of RBI is shocking, he said.
Jain said RBI should take steps to ease funding for real estate at much lower rates of interest in the interest of millions of home seekers and ease CRR as well. We cannot hope to make housing affordable for the masses with such restrictive policies, Jain added.
