New Delhi, February 02, 2022: Budget 2022 has set the tone for the modern India that will be built on a strong foundation of planned cities with high capital expenditure towards a robust network of infrastructure and technology.
Honourable Finance Minister Nirmala Sitharaman’s focus on redefining urbanization through urban building policy and setting up of a high-level expert committee is a welcome move. Our cities have been built with the age-old laws and there was a dire need to refurbish them as per modern day to day requirements and needs. The focus on modernizing building / infrastructure laws and town planning displays that we are gearing to envision a new India with smart and tech-led planned cities.
Allocation of Rs 48000 cr towards affordable housing reassures the Government’s focus on housing. Equal focus on infrastructure, sustainability, technology, will have a multiplier effect by creating more job opportunities and consumption demand.
Real Estate sector has been largely impacted due to the pandemic. There were some expectations from the sector that would have boosted demand and offered increased deductions towards the principal/ interest payment of home loans. There was a need to increase the scope of affordable housing by raising the cap of Rs 45 Lakhs for metros. This would have increased the scope of affordable housing and a large number of home-buyers could have then benefitted from the subsidies available for this segment.
An infrastructure status has been a long pending demand of the sector. It would have made a major difference in accessing capital at a reasonable cost. Nevertheless, we appreciate the government’s focus on overall developments of the nation. We are optimistic and look forward to witnessing the beginning of a new and robust economy.
Corporate Comm India (CCI Newswire)
