Union Budget Reaction quote on Real Estate Sector – Mr. Aditya Mehta, CEO & Co- Founder, Akasa Coworking

New Delhi, February 03, 2023: The Budget 2023 ushered several good news for the real estate and infrastructure industry, with the Finance Ministers having made several big announcements to ramp up the virtuous cycle of investment and job creation in the sector. Real estate and infrastructure can have a large multiplier impact on the country’s overall growth and employment prospects and the government enhancing the outlay of the Pradhan Mantri Awas Yojana (PMAY) by 66 per cent is a major boost to the sector. Other key measures announced by the government like exemption to development authorities, making cities ready for municipal bonds, encouraging to undertake urban planning reforms to transform cities into ‘sustainable cities of tomorrow’, enhancing opportunities for private investment in infrastructure, establishing Urban Infrastructure Development Fund, etc. is a major encouragement for the players in the industry. This year’s Union Budget also focused extensively on advocating green development which also included formation of green buildings, which eventually will provide large scale green job opportunities.

Corporate Comm India (CCI Newswire)