Budget 2019: Finance budget would provide further boost to the housing sector: Dr Niranjan Hiranandani

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The government’s proposal to invest more than Rs 100 lakh crore for infrastructure over the next 5 years is a welcome move.

www.newsbarons.comIt is for the first time in probably the last 30 years that the Union Finance budget has taken care of probably all the sector in such a detailed manner.

Right from agriculture, infrastructure, education to even minor sector like fisheries and Bamboo cultivation, the union finance minister, Nirmala Sitaraman in her maiden speech has ensured that every sector is adequately taken care of.

The government’s idea to provide affordable housing will be a possibility and is highly successful in almost all the cities except Mumbai where there is a paucity of land. I believe that the additional incentive of Rs 1.5 lakh on interest on loans borrowed under the affordable housing would give a boost to the real estate sector further.

The Union Budget would provide a much needed boost to the housing and infrastructure sector. The government’s proposal to invest more than Rs 100 lakh crore for infrastructure over the next 5 years is also a welcome move.

Liquidity has been a major concern for the industry, which the government has tried to address to a certain extent in this budget. Public sector banks are now proposed to be further provided Rs 17000 crore of capital to boost credit. Also the
Economy was devoid of any institution capable of providing long term credit, the government has tried to address that issue as well.

For the first time, any government has made an effort to provide adequate drinking water to every citizen of the country. Under the Jal ministry, the ministry is talking about talking piped water to every citizen of the country. This had always been a matter of concern for every government.

Government has taken steps to ensure that the bulk of the push would come from them without having to wait for the private sector to play its role.

Also Read: Budget 2019 Highlights

https://www.newsbarons.com/budget-2019/budget-2019-highlights/