HOUSING

DEABTE
WHAT ARE HOUSING BENEFITS IN ECONOMIC DEVELOPMENT VIS-A`-VIS OTHER
ECONOMIC INVESTMENT.
Impact and Roles of Housing in
Developed Economies:- (REPORT FROM USA HOUSING COMMITTEE)
The housing sector affects national and local
economies in several important ways.
• Housing markets have significant
macroeconomic impacts. Homebuilding
accounts for a notable portion of annual
GDP. In addition, housing expenditures in
mature economies respond quickly to
interest rate changes. As a result, the housing
market is often referred to as the handmaiden
of monetary policy.
• Housing generates expenditures outside
the housing sector itself, thus contributing
to the strength of an overall economy.
These expenditures arise from two causes.
► Housing represents a significant store
of individual wealth, and increases in
wealth are highly correlated to consumption.
► Housing formation, even without
wealth effects, stimulates significant
expenditures on both housing-related
and non-housing-related services and
goods
Housing is a key input in economic, social,
and civic development. As summarized in the
figure on the next page, many housing-related
activities contribute directly to achieving
broader socioeconomic development goals.
Housing investment is a major driver of
economic growth. Better data permits more
precise estimates in developed countries, but
the same overall effect is true in developing
countries. In the United States, housing
directly contributes 14% of gross domestic
product (GDP) and triggers another 6% on
average in downstream expenditures. Lending
for housing helps develop primary and
secondary financial markets. Worldwide and
especially in low-income countries, housing
construction creates job opportunities for
migrants to cities. Legalization of informal
settlements and registration of housing and
other real property helps “unlock” fixed
capital for productive investment and builds
local property tax bases.
• In Western countries, housing and real
estate are seen as a distinct asset class.
This fact leads to greater market
efficiency, stability, and liquidity.
• Housing is a basis for taxation — often
local government taxation — and is thus a
significant contributor to the fiscal
health of local governments and their
capacity to deliver basic urban services.
Builder of Wealth
Housing leads to consumer expenditures
through a phenomenon called the “wealth
effect.” In this respect, housing is not alone;
other forms of wealth, such as stocks and
bonds, also generate wealth effects. A recent
study in the United States6 found the wealth
effect on consumer spending for both equities
and housing were roughly the same, yet the
wealth effect for housing was realized much
more quickly.
The data from this study A studyby Case, Quigley, and Schiller, analyzing
indicated that 80% of the long-run wealth data from the United States and 14 other
effect of housing was realized in one year, as countries, also suggests an increase in consumer
compared with five years for stocks. spending due to increases in housing
values.
 savings of thousands of home buyers and
$3.5-bn govt fund for bankrupted developers. At the time, India had an estimated $63
finishing stalled housing The fund will hand over some 16 projects or
billion of such stalled projects as an
economic slowdown and a credit crisis
more than 4,000 homes in the financial year
projects begins to pay off starting April 1, said Irfan A. Kazi, chief
cascaded through the sector. Builders were
investment officer at SBICAP Ventures Ltd., unable to service their loans, forcing banks to
A 250-billion-rupee ($3.5 billion) fund set up the government-appointed manager of the write off the debts and worsen what was
by India’s government to complete stalled  alternative investment fund. The ‘Special already one of the world’s biggest bad-loan
housing projects is set to deliver its first Window for Completion of Construction of piles. Prime Minister Narendra Modi’s
finished apartments in 2021, offering a Affordable and Mid-Income Housing Projects’ government created the fund as one
template for a problem that has washed out (SWAMIH) fund was announced in November measure to unclog the financing pipes.
2019.
Failure of Housing Projects
A ready measure of the
progress of a welfare State
is its success in housing its
people. Now not even the
most progressive of States
has satisfactorily housed all
its people and the Government
of India , counting it as a welfare
State, has far from a complete
housing scheme.
The Government only knows
that the task is stupendous.
Nevertheless, consistent wit h its
five year plans, the Government has
made many approaches to tackle the
problem of the houseless and has
undertaken a number of important
schemes. They are mainl y the
Subsidised Industria l Housing
Scheme, the Low Income Group
Housing Scheme, the Slum Clearance
Improvement Scheme, the Village
Housing Project Scheme and the
Scheme for House Buildin g
Advances to Central Government Servants. These
schemes were started in the period 1952-57 and
they still continue and provisions have been made
for their working . For the Subsidised In - dustrial
Housing Scheme, a total of Rs 35.34 crores had been
sanctioned between 1952 and 1959 for the
construction of a littl e over a lak h of houses; for the
Low Income Group Housing Scheme Rs 29.72 crores
has been advanced as loan to the various States,
since the inception of the scheme in 1951 up to the
end of 1959; the Slum Clearing Projects were allotted
Rs 12,13 crores between 1956-60; about Rs 100 lakhs
had been sanctioned as loan to villagers under the
Villag e Housing Project Scheme; and under the
scheme for Advances to Central Government
Servants for house building, Rs 83.38 lakhs had been
approved between 1956 and 1959.
Link of report :-https://www.google.com/search?
q=housing+projects+failure+in+india&oq=housing+projects+failure+in
+india&aqs=chrome..69i57.9197j0j15&sourceid=chrome&ie=UTF-8
Factors affecting to implement human welfare projects in india
1) RED CORRIDOR in INDIA.
2) MANIPULATION OF TRUTH BY BIASED MEDIA ON EVER PROJECT.
3) BAD COMMUNICATION AND CONNECTIVITY WITH THE CIVILIANS.
4) BAD MANAGEMENT AND MONITERING OF OVER ALL PROJECT.
5) LACK OF POLICY MAKING.
6) LACK OF DECISION MAKING AMONG ADMINISTRATION.
7) POORLY PLANED SERVICES FOR CIVILIANS.
8) NATIONAL SECURITY.
9) OVER POPULATION.
10) ILLEGAL INTRUSION.
11) ILLEGAL INSERGENCIES.
12) ILLEGAL INFILTRATION.
13) NATIONAL DISASTER.

PROMINENT SCAMS
1) AMRAPALI SCAM2000.
2) ROSHNI ACT 2001.
AND MORE.
COUNTER STARTEGIES TAKEN BY PRESENT GOVERNMENT
1) DECREASING NAXAL MOVEMENT.
2) ADDRESSING THE CIVILIANS AND INCREASING THE TRANCPERANCY
3) TAKING EFFECTIVE MEASURES AGAINST NAXAL`S AND URBAN NAXAL`S
4) ELEMINATING ILLEGAL IMMIGRANTS FORM THE BORDER AREAS OFINDIA.
5) DIPLOMATICALLY SOLVING THE ISSUES WITH NEIGHBOURING COUNTRIES.
6) NOT COMPROMISING WITH ANY UNWORTHY PROTESTS AOR DEMAND.
7) IMPLEMENTING THE NEEDED PROJECTS ON GROUND LEVEL.
OTHER ECONOMIC INVESTMENTS INCLUDE AND STRATEGIES
1) FDI(Foreign direct investment)
2) EASE OF DOING BUSINESS
3) SKILL INDIA MISSION
4) EMPOWERING THE POOR POPULATION
5) GIVING LOANS TO SETUP SMALL BUSINESS AY LOW INTREST RATES