Union Budget 2019 Highlights: Affordable housing will have tax benefits
Union budget 2019 is out and several reforms related to the Real Estate sector have been transformed. Want to know the budget for New India? Read Union Budget 2019 highlights here:
“We have set the ball rolling for a new India,” Finance Minister Nirmala Sitharaman said. “India will become a $3 trillion economy in the current year. It is now the sixth-largest economy, five years ago it was 11th. We are already number three in terms of purchasing power parity. ”
– NDTV
Key Highlights:
- Big relief to home buyers as there is an additional Rs 1.5 lakh tax relief on home loan for the purchase of a house up to Rs 45 lacs.
- Tenancy laws to be reformed: New Tenancy laws to be introduced which will address lessor-lessee relationships fairly.
- Government plans to launch an inter operable ATM like One Nation One card for pan India travel.
- Now Jal for every house: New Jal Shakti Ministry will work with states to ensure Har Ghar Jal for all rural houses by 2024.
- NRIs will be issued with Aadhaar card under 180 days on arrival in India.
- Over 1,25,000 km of road to be upgraded over the next 5 years under Pradhan Mantri Sadak Yojana.
- Pradhan Mantri Awas Gramin Yojana to provide 1.95 crore houses to the beneficiaries.
- World class iconic sites to be developed to attract tourists.
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