NEW DELHI: It 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, stated Niranjan Hiranandani, President NAREDCO & Managing Director of Hiranandani group.
“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,” Hiranandani said.
Speaking about incentives offered to the real estate sector, Hiranandani President NAREDCO explained that need to promote rental housing and housing for all by the year 2022. “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,” He pointed out.
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 he said.
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,” he added.
According to Hiranandani, for the first time any government has made an effort to provide adequate drinking water to every citizen of the country. “Here under the Jal ministry, they are talking about talking piped water to every citizen of the country. This had always been a matter of concern for every government,” He said.
He also said that the 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.