The Budget Offers A Stable Funding Base For Housing Sector

"The outlay of Rs 10 lakh crore for urban housing under PM AWAS Yojana Urban 2.0 is of an amount that would largely share in the annual GDP of India, thus showing the priority in the housing sector by the government. The Rs 2.2 lakh crore central assistance spread over five years offers a stable funding base, which is so important to long-term planning in the real estate sector. Targeting 1 crore families, this scheme addresses roughly 22% of India's urban households, according to the 2011 census. The scale of intervention would be large enough to hopefully bring down urban poverty, for adequate housing has been inextricably interwoven with health, education, and economic outcomes. Besides, incorporating middle-class families at least gives due recognition to the budding aspirations of India's urban population. If effectively implemented, this has the potential to go a long way in bridging the yawning urban housing gap and making critically vital contributions toward India's economic growth and development across the urban landscape." Siddharth Maurya, Founder & Managing Director, Vibhavangal Anukulakara Private Limited