Pradeep Aggarwal, Founder and Chairman of Signature Global Group and Chairman, Assocham on the budget
It was a balanced Budget that took care of the overall economic development
Pradeep Aggarwal, Founder and Chairman of Signature Global Group and Chairman, Assocham – National Council on Real Estate, Housing and Urban Development
The Government has always focused on affordable housing, and in this Budget, the announcement was made regarding the allocation of Rs 48, 000 crore for PM Awas Yojana, and completing 80 lakh houses in 2022-23. It was a balanced Budget that took care of the overall economic development, including improving multi-model transportation in cities and increasing the highways by 25000 km.
The improvement in transportation will generate employment in cities, leading to a growth in demand for housing. The affordable segment will also benefit from the announcement of reduction of time for land and construction related approvals in urban areas which was earlier a matter of concern for the industry. The Government has also talked about tier II and III cities and that it will work with urban planners to ensure that these cities witness economic growth and employment. The Government will also work with Financial Sector regulators to expand access of capital along with reduction in cost of intermediaries; this will help the sector have access to funds to finish projects on time. Through, this a common man can complete his dream to have a home.
