Atmanirbhar Bharat Mission Providing An Enabling Environment
Anurag Mathur, CEO, Savills India
The fiscal stimulus 3.0 as part of Atmanirbhar Bharat mission has provided an enabling environment for recovery of the housing, construction and manufacturing sectors among others. The additional outlay of Rs 18,000 crore under the PMAY-U scheme is a welcome step that would help improve the housing market and aid job creation.
Further, the government has focussed on strengthening the mass housing market, which is reflected in its decision to provide concessionary tax relief measures for developers and home buyers for houses up to Rs 2 crore. This has the potential to reinvigorate housing demand in the coming months, which would hopefully trigger new housing projects.
The housing industry is one of the largest employers in the country and has a major spin-off effect on several other sectors/ industries.
The continued focus on infrastructure sector with about INR 6,000 crore to be infused in the National Investment and Infrastructure Fund (NIIF) debt platform shall also have a multiplier effect on employment generation which was one of the key focus areas of today’s announcement.