We wholeheartedly welcome the Finance Minister Nirmala Sitharaman’s budget presentation today. The announcement of the government giving a huge push to affordable housing and rental housing in India, will have a positive impact on the overall housing sector.
The decision to extend tax holiday for affordable housing projects by another year is a right step, in line with the PM’s clarion call of ‘Housing For All by 2022’.
The governments push for the infrastructure sector is a welcome move as it will have a positive impact on better connectivity within the country, and more job creation among SMEs.
The proposal enabling entry of FPIs into debt financing of InvITs will open new funding avenues for the sector. This will have a ripple effect wherein it will create positive and strong global investor sentiments and potential for further investments into the infra sector.
In conclusion, the budget was good considering it being the first budget after the pandemic. Therefore, the focus was on building better public healthcare, infrastructure development and housing for all. These steps would help in job creation, increase housing demand and improve the economy at large.