CAG criticises TNUHDB for delayed central housing scheme

12 Oct 2023 CW Team

The Comptroller and Auditor General (CAG) of India criticised the Tamil Nadu Urban Habitat Development Board (TNUHDB) for the delay in framing the Tamil Nadu Affordable Urban Housing and Habitat policy and preparing the Housing for All Plan of Action (HFAPoA). The CAG mentioned that this delay defeated the purpose of the Pradhan Mantri Awas Yojana ? Urban (PMAY-U) and led to urban poor residing in unhygienic conditions. The performance audit, which was presented in the assembly for the year ending March 31, 2021, stated that out of the total housing demand of 13.92 lakh, the TNUHDB only obtained sanction for 7.08 lakh houses between 2015-21. Among these, 3.44 lakh houses were completed, and the remaining 3.64 lakh houses were in various stages of construction. In response to this, the government explained that out of the 13.92 lakh demand, 4.84 lakh were related to housing under the credit-linked subsidy scheme, which the TNUHDB was not implementing. Out of the remaining 9.08 lakh, sanction had been given for 5.60 lakh houses, and 2.94 lakh houses had been constructed. However, the CAG pointed out that even after the completion of the targeted mission period, which was March 2022, the state government had not sought approval for the remaining 3.48 lakh tenements. Furthermore, construction of 2.66 lakh tenements sanctioned during the mission period had not been completed. Due to these factors, urban poor continued to live in unhygienic conditions, as per the CAG's findings.

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..