Here's a wrap of the top stories picked from morning newspapers
The Delhi Development Authority has decided to auction land for residential projects to private developers for the first time, the Hindustan Times has reported. The move is an attempt to meet growing demand for housing in the national capital at a time when some of its more recent projects have drawn a tepid response. The auction will be of plots that were earmarked as residential zones as per the Master Plan of Delhi, 2021, and the process could start as early as October.
The residents of Nagaland’s Khonoma — the first green village in India — had made a Herculean effort to ban logging and hunting in 1998. The Times of India has reported that twenty years on, the green warriors of this village are fighting a battle within and have taken fresh guard in June against the ecological challenges. Now, it's again battling the hunting menace once again. The villagers have increased the fine on hunting from 3000 to 10,000 rupees. The village, which has been a tobacco free since 2002, also banned single-use plastic bags and bottles in June.
The Indian Express has reported that the Central government’s nominee member on the RBI committee tasked with reviewing central's bank's economic capital framework had sought additional funds to the tune of 1.5 % of the RBI’s balance sheet. This would have translated into Rs 54,255 crore in addition to the 1.76 lakhcrore RBI payout. This demand, which could have resulted in even higher transfer to the government, was turned down by the committee headed by former RBI Governor Bimal Jalan.
Finance minister Nirmala Sitharaman has indicated that all options are open for the government to utilize the RBI’s ₹1.76 trillion largesse. Business paper Mint reported that on questions being raised about the large transfer of surplus to the government, Sitharaman said the Jalan committee had eminent experts and was constituted by RBI itself and not the government.