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NDTV
38 minutes ago
- NDTV
Indian Cities Will Need Over $2.4 Trillion By 2050 To Tackle Climate Risk: Report
New Delhi: Indian cities are becoming increasingly more vulnerable to floods, heatwaves, and other climate-related risks and will require over 2.4 trillion US dollars in investments by 2050 to build resilient and low-carbon infrastructure, according to a World Bank report released on Tuesday. The report notes that Indian cities hold tremendous potential as centres of economic growth, with 70 per cent of new jobs coming from cities by 2030. "However, timely action is needed for cities to deal with impacts from extreme weather events and avert billions of dollars in future losses," the report 'Towards Resilient and Prosperous Cities in India' states. The report, prepared in partnership with the Ministry of Housing and Urban Affairs, stated that "Annual economic losses from rain-related flooding are currently estimated at 4 billion dollars. These are projected to rise to five billion dollars by 2030 and between 14 and 30 billion dollars by 2070 if no remedial action is taken." According to the report, much of the urban expansion is occurring in "flood-prone and heat-vulnerable areas." The report identifies Delhi, Chennai, Surat and Lucknow among cities most exposed to urban heat island effects and flood risks, particularly due to settlement expansion into vulnerable areas. "In Delhi, the report highlights risks linked to rising temperatures and urban flooding. Heat stress is also expected to intensify. Between 1983 and 2016, exposure to dangerous heat levels increased by 71 percent in India's 10 largest cities, rising from 4.3 billion to 10.1 billion person-hours per year," the report added. The report raised concerns about heat-related deaths. "If emissions continue at current levels, annual heat-related deaths may rise from 1,44,000 to more than 3,28,000 by 2050. Around 20 percent of working hours in major Indian cities could be lost due to high heat stress conditions," it says. Heat mitigation alone could increase India's Gross Domestic Product by up to 0.4 per cent and save up to 130,000 lives annually by 2050, the report states. According to the report, the country's urban projected population will be around 1.1 billion by 2070. "More than 144 million new urban homes will be required, doubling the current housing stock," the report states. To offset these risks, the World Bank estimates that India will need to invest 2.4 trillion dollars by 2050 and 10.9 trillion dollars by 2070 across sectors such as housing, public transport, solid waste management, and municipal services. "However, India currently spent around 10.6 billion dollars per year from 2011 to 2018. India's current spending on urban infrastructure and services is -0.70 per cent of GDP, which is much lower than other countries and must be substantially increased", the report states. "This is both a challenge and an opportunity," said Auguste Tano Kouame, World Bank Country Director for India. Without timely action, climate risks such as flooding and extreme heat will become much more severe, Kouame added. The report states that public financing alone will not be sufficient to meet this demand. It calls for increased private sector investment through tools such as green bonds, blended finance, and access to international climate funds. The report recommends strengthening the financial autonomy of urban local bodies and improving their capacity to plan and implement bankable projects. "India's urban population stood at 480 million in 2020 and is projected to reach 951 million by 2050 and over 1.1 billion by 2070. According to the report, an estimated investment of 150 billion dollars over 15 years could enable 60 per cent of existing Indian cities to implement flood mitigation measures. The report was supported by the Global Facility for Disaster Reduction and Recovery, a multi-donor trust fund that helps countries strengthen disaster and climate resilience.
The Hindu
an hour ago
- The Hindu
Bakeries, condiments and small enterprises protest against GST notices on July 24
The Karnataka State Association of Bakeries, Condiments and Small Enterprises has organised a protest rally at Freedom Park on Thursday, to protest the 'unscientific' Goods and Services Tax (GST) notices issued by the Commercial Taxes Department to small-scale traders. D.B. Pratap Shetty, president of the association, expressed concern over the GST notices to small-scale businesses like condiments stores, bakeries, milk sellers, vegetable vendors, and others, and said these notices had created a sense of fear among traders. These notices have been issued based on transactions in their UPI payment gateway linked accounts. 'Most of our transactions — over 95% — are through digital payments,' Mr. Shetty said, and warned that if their issues are not sorted out, they will launch a State-wide protest against the UPI payment system. 'We will begin a campaign to break UPI scanners as a mark of protest,' he warned. He alleged that traders with annual transactions between ₹20 lakh and ₹40 lakh are being served notices, which goes against the standard GST norms. While demanding the withdrawal of such notices, the association has demanded that the government allow traders with turnover exceeding ₹40 lakh per year to settle their dues under the presumptive tax scheme by paying a flat 1% tax based on available records.
Mint
an hour ago
- Mint
Stocks to buy under ₹100: Experts recommend two shares to buy tomorrow — 23 July 2025
Stocks to buy under ₹100: The Nifty 50 and Sensex fluctuated between gains and losses throughout Tuesday's session on July 22, as investors adopted a cautious stance. With no strong directional cues, the benchmark indices paused for breath, while notable movement was seen in individual stocks. The Nifty ended the day down 29 points, or 0.12%, at 25,060.90. Market participants remained focused on developments related to the India-US trade agreement. Advertisement All sectoral indices closed in the red, with IT, auto, PSU banks, pharma, media, and realty falling between 0.4% and 2%. Broader markets also witnessed weakness — the Nifty Midcap 100 declined by 0.6%, while the Nifty Smallcap index performed slightly better, slipping 0.3%. Meanwhile, market fear and volatility continued to ease, as reflected in a 3.5% drop in the India VIX to 10.75. Stock market today On the Indian stock market's outlook today, Siddhartha Khemka, Head of Research — Wealth Management at Motilal Oswal, said, "Investors now await commentary from Fed Chair Powell later tonight for clues on the US rate trajectory. On the earnings front, key results scheduled for Wednesday include Infosys, SRF, Tata Consumer, Persistent Systems, Oracle, and Coforge. Markets will likely stay range-bound in the near term, focusing on ongoing corporate earnings." Advertisement Speaking on the outlook of the Nifty 50 today, Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, said, "The underlying trend of the Nifty 50 index continues to be weak amidst choppy movement. Having been rejected by the hurdle of 25200, the chances of Nifty sliding below 24900 are likely in the coming session. In such an event, the downside target could open around 24500 for the coming weeks, with immediate resistance at 25,200." Asked about the outlook of the Bank Nifty today, Shiju Kuthupalakkal, Senior Manager of Technical Research at Prabhudas Lilladher, said, "The Bank Nifty index, after opening on a positive note, fizzled out resisting near the 57,200 zone and with profit booking seen witnessed a gradual slide to end near the 56,700 zone with bias maintained intact, having the strong support near the 56,000 level, which has been sustained as of now. On the upside, the index would need to breach above the resistance zone of 57,600 level, as we have been mentioning, and thereafter, can expect fresh higher targets of 58,500 and 60,000 levels in the coming days." Advertisement Stocks to buy today under ₹ 100 Regarding stocks to buy today, market experts Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher; Anshul Jain, Head of Research at Lakshmishree Investment; and Sugandha Sachdeva, Founder of SS WealthStreet, recommended these three intraday stocks for today under ₹100: ABFRL, Niva Bupa Health Insurance Company, and XXX. Vaishali Parekh's intraday stock for today under ₹ 100 1] ABFRL: Buy at ₹76, Target ₹80, Stop Loss ₹74. Anshul Jain's stock to buy under ₹ 100 2] Niva Bupa Health Insurance Company: Buy at ₹88.50, Target ₹96, Stop Loss ₹85. Advertisement Disclaimer: The views and recommendations made above are those of individual analysts or brokerage companies and not of Mint. We advise investors to check with certified experts before making any investment decisions.
