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The Indian economy is in an interesting stage right now. On one end of the spectrum, signs are pointing towards an economic surge. The Sensex hit an all-time high a week ago, the RBI seems to be making all the right moves to curb inflation and bring stability to the rupee and analysts can be frequently heard commentating that finally it's a trading market. Gift City Latest Update means the economy is picking up, the share market is ripe for investments and therefore investors and traders can take advantage of the opportunities being presented to earn profits. However, a quick way to see whether a country's economy is improving is to simply look at its real-estate prices. If real-estate sales fall, then real-estate prices eventually fall in tandem. This then reduces the value of all homeowners, whether they are looking to actively sell or not. The result is that there is a reduction in home loans granted to those same homeowners. Finally, this reduces consumer spending which results in reduced GDP so all in all, real-estate prices or sales are a great indicator of a country's economy.

With the hitting new highs and RBI Governor Raghuram Rajan promising all sorts of ground-breaking changes to propel the economy on 6th November, the RBI unleashed a far reaching set of new rules that will allow foreign banks to enter India's protected domestic environment, you would expect real-estate prices to be surging upward. And yet, this is not what is happening. The RBI has been consistently raising the repo rate, which is the rate that banks are charged to borrow from the RBI- in recent months. Gift City News past few days, major banks such as State Bank of India and HDFC Bank raised the rates to obtain loans to purchase houses, and the trend is unexpected to stop as the RBI is expected to continue raising rates to fight inflation. At this point, the junior advocate said 79-year-old Nandy was ready to tender an unconditional apology which can be published in the same newspaper that had carried the controversial article. Taking note of his statement, the bench asked the Gujarat government counsel and Saxena's advocate Gaurav Goyal to take instructions and posted the matter for hearing next week. Nandy had earlier contended that the FIR was registered out of malaise intention and aimed at penalising him for expressing his bonfire views. Gujarat government had been seeking the nod of the apex court to continue with the investigation to a conclusive end into the FIR against him under section 153A promoting communal disharmony and 153B imputations, assertions prejudicial to national integration of the IPC. The state government had said Nandy's petition seeking quashing of criminal proceedings against him be dismissed as the FIR in the instant case prima facie discloses the offence under sections 153A and 153B of the IPC.

The statement by Nandy's lawyer was made before a bench of Justices V Gopala Gowda and Arun Mishra, which was hearing the appeal filed by him against the 2010 decision of Delhi High Court refusing to quash criminal proceedings by Gujarat Police for allegedly promoting communal disharmony The FIR was lodged in January 2008 on a complaint of V K Saxena, currently Chairman of Khadi and Village Industries Commission and President of Ahmedabad-based NGO National Council for Civil Liberties NCCL, for Nandy's remarks towards people of Gujarat on the outcome of the 2007 Assembly polls in which Narendra Modi-led BJP had retained the power. When the matter came up for hearing today, Nandy's counsel said a letter has been circulated for adjourning the matter as the senior advocate, who was to argue, was not available. However, the bench said matters are generally adjourned when senior advocates are in personal difficulty, which is not the case here and wanted to proceed with it.

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