The government should also increase funding for the Pradhan Mantri Awas Yojana (PMAY), which will aid in the achievement of the 'Housing for All' goal.
Budget 2023: She made this announcement while presenting the Union Budget for 2023-24.
The real estate industry expects the government to take specific steps to smooth the road to recovery at a time when it is dealing with post-Corona issues such as rising input costs and razor-thin margins.
The growth of the real estate sector creates myriad opportunities like creating employment, improving the lifestyle of the people, attracting foreign investments, etc. The sector painted a positive picture in 2022, showing signs of revival in spite of the pandemic.
The real estate sector in India is one of the highest contributing sectors and the second-largest employment generator after agriculture.
Budget 2023: Initiatives have been undertaken such as easy access to funds and tax deductions will put smaller firms in a stronger place to prosper and then become internationally competitive.
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