Mr. Manish Mehan, CEO and MD of TK Elevator India

“The Union Budget for the fiscal year 2022 is quite robust and centered around the nation’s progress, with a focus on increasing economic efficiency and infrastructure growth. The budget is looking forward to focusing on a long-term plan for the country with digitization, urban development, and sustainability at its core. Allocating 48,000 crores for PM Awas Yojana will help to achieve the Prime Minister’s vision of Housing for All. Also, 60,000 houses will be identified as beneficiaries for PM Awas Yojana in rural & urban areas to further ensure that more and more homebuyers get to avail of this benefit. The government’s aim to create 6 million new jobs over the next 5 years will enable the growth of residential as well as commercial sector across the country. However, a time extension of the credit-linked subsidy scheme would have given affordable and mid-income homebuyers the much-needed financial elbow room to make a purchase. Furthermore, adding a standard definition for 60m and 90m affordable homes would have given a bigger boost to the housing industry.”