Inflammatory messages: Popular Front of India under scanner

Bengaluru, Jun 18: Real estate continues to be a preferred asset class for investors amid the uncertainty emerging out of the pandemic, according to a report by National Real Estate Development Council (NAREDCO) and Housing.com.

Titled 'Concerned yet positive - The Indian Real Estate Consumer (April-May 2020)', the report showed that the real estate consumer remains positive with regard to the economic scenario and income stability for the coming six months.

"Real estate (35 per cent) is still perceived as the preferred mode of investment, followed by gold (28 per cent), fixed deposits (22 per cent), stocks (16 per cent) and homebuyers are likely to slowly return to the market in the coming six months," it said.

Price-points of residential realty have remained muted for the past few years, but are still a key deterrent, with the perception of being still unaffordable, according to nearly half of the potential homebuyers surveyed, who are currently staying in rented accommodation.

A majority of respondents surveyed (73%) comprise 'first time homebuyers', who are looking to buy a 'ready-to-move-in-house' for end-use and are from the age group of 25-45 years. While 60% of respondents opined that for the next six months, they would prefer a ready-to-move-in property, 21% said they were okay with a property with a delivery timeline of maximum one year.

The survey was conducted in April and May 2020, through a random sampling technique for a fair representation across regions. The insights presented in the survey represent the view of more than 3,000 potential homebuyers.

Bengaluru, May 18: Indian food delivery startup Swiggy said on Monday it would lay off 1,100 employees, or nearly 14% of its workforce, to cut costs, as a weeks-long nationwide lockdown to curb the coronavirus outbreak hits demand for online food ordering.

The company, backed by South African internet giant Naspers, also said it will scale down adjacent businesses and has already shut several of its cloud kitchens - facilities that only cater to takeaway orders - temporarily or permanently.

“The core food delivery business has been severely impacted and will stay impacted over the short term, but is expected to start growing again after that,” said Sriharsha Majety, co-founder and chief executive at Bengaluru-based Swiggy.

Swiggy, one of India’s best known startups, is among many that are laying off employees and reshaping their business in response to the COVID-19 pandemic, which has forced 1.3 billion Indians indoors and crippled business.

India is currently under a two-month lockdown, and though several curbs are being eased, public places such as restaurants remain closed, hurting restaurants themselves as well as companies such as Swiggy and main rival Zomato.

The Ayodhya police booked a senior journalist on Wednesday for raising questions on Uttar Pradesh Chief Minister Yogi Adityanath's visit to the Ram Janmabhoomi for a religious ceremony amid the lockdown over the novel coronavirus pandemic.

The FIR mentions a tweet by Siddharth Varadarajan, editor of news portal 'The Wire', where he said: "On the day the Tablighi Jamaat event was held, Adityanath insisted a large Ram Navami fair planned for Ayodhya from March 25 to April 2 would proceed as usual and that 'Lord Ram would protect devotees from the coronavirus."

Varadarajan had clarified in another tweet that it was "Acharya Paramhans, Hindutva stalwart and head of the official Ayodhya temple trust, who said Ram would protect devotees from coronavirus, and not Adityanath, though he allowed a public event on 25/3 in defiance of the lockdown and took part himself".

Taking the suo-motu cognizance, Faizabad Kotwali police station incharge Nitish Kumar Shrivastava registered an FIR under sections 188 (disobedience to order duly promulgated by public servant) and 505(2) (statements conducing to public mischief) of the Indian Penal Code for doing "disreputable" comment against the chief minister.

Statement by the Founding Editors of The Wire: pic.twitter.com/frw5oRxw18

— The Wire (@thewire_in) April 1, 2020
Reacting to it, Varadarajan termed the FIR "politically motivated, saying that the offences invoked were not even remotely made out.