Finance Minister Nirmala Sitharaman on Tuesday presented the first budget of Modi Government 3.0. There has also been a lot of focus on infrastructure in this budget. Let us know what is the reaction of the people of the industry on the budget. Pradeep Mishra, Chairman of Rudrabhishek Enterprises Limited, said, ‘There has been a good focus on infrastructure in this budget. The government has kept in mind both local needs and global economic conditions. An investment of Rs 11.11 lakh crore on infrastructure, which is about 3.4 percent of GDP, reflects the government’s commitment to growth through infrastructure. The plan of Rs 10 thousand crore for PM Awas Yojana-Urban 2.0 is a big step.’
Big allocation for Pradhan Mantri Awas Yojana
Atul Monga, CEO and co-founder of Basic Home Loan, said, ‘The central government will contribute Rs 2.2 lakh crore in five years under the Pradhan Mantri Awas Yojana-Urban. Its goal is to meet the housing needs of one crore families of the minimum class and lower middle-income group. The new section of Pradhan Mantri Awas Yojana-Urban focuses on improving the living standards of the urban population. Its objective is to provide less luxury housing and effectively bridge the gap between demand and supply of houses in urban areas. Apart from this, the government is also considering public-private partnership, which will promote rental dormitory housing for the employees of manufacturing units. It is expected that this will solve the housing problems of the workers, as they will be able to get housing facilities at reasonable prices near their workplace.
Urban families will benefit
Saya Group Chairman and MD Vikas Bhasin said, ‘The allocation of Rs 10 lakh crore for urban housing in the Union Budget 2024 is a big boost for the real estate sector. This investment will largely meet the housing needs of urban families and promote development. The ‘PM Surya Ghar Free Electricity Scheme’ for installing rooftop solar panels is a commendable step towards sustainable living. The positive trend in housing loans reflects a balanced and encouraging outlook for the market.
