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Hon’ble Speaker,
I present the Budget for the year 2021-2022.
1. Honourable Speaker, the preparation of this Budget was undertaken in circumstances like never before. We knew of calamities that have affected a country or a region within a country, but what we have endured with COVID-19 through 2020 is sui generis.
2. When I presented the Budget 2020-21, we could not have imagined that the global economy, already in throes of a slowdown, would be pushed into an unprecedented contraction.
3. We could not have also imagined then that our people as those in other countries would have to endure the loss of near and dear ones and suffer hardships brought about due to a health crisis.
Union Budget 2021 | Affordable, rental housing push likely to boost residential demand during COVID-19 pandemic
Infrastructure initiatives include MetroLite and MetroNeo to be launched for Tier-2 cities and peripheral areas of Tier-1 cities
Affordable and rental housing got a major push in Budget 2021 with the government extending the period for extra deduction of Rs 1.5 lakh available for loans up to March 31, 2022, a move expected to boost housing demand amid the ongoing COVID-19 pandemic.
Amid the prolonged pandemic scenario, this extension was needed to support the latent housing demand in the country, experts said.
Infrastructure projects, especially Metro, also received a shot in the arm. This, said real estate experts, will act as a strong catalyst in driving real estate in urban areas.