Rising KashmirRising KashmirRising Kashmir
  • Home
  • Top Stories
  • News
    • Kashmir
    • City
    • Jammu
    • Politics
  • Health
  • Anchor
  • Features
  • Interview
  • Video
Search

Archives

  • May 2025
  • April 2025
  • March 2025
  • February 2025
  • January 2025
  • December 2024
  • November 2024
  • October 2024
  • September 2024
  • August 2024
  • July 2024
  • June 2024
  • May 2024
  • April 2024
  • March 2024
  • February 2024
  • January 2024
  • December 2023
  • November 2023
  • October 2023
  • September 2023
  • August 2023
  • July 2023
  • June 2023
  • May 2023
  • April 2023
  • March 2023
  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022

Categories

  • Anchor
  • Breaking
  • Business
  • City
  • Developing Story
  • Editorial
  • Education
  • Features
  • Health
  • Interview
  • Jammu
  • Jammu and Kashmir News
  • Kashmir
  • Kashmir Tourism
  • Kath Bath
  • National
  • Opinion
  • Politics
  • Sports
  • Technology
  • Top Stories
  • Trending
  • Uncategorized
  • Video
  • Viewpoint
  • World
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
Reading: Interim Budget 2024-25 Ignites Hope for Real Estate & Infrastructure Growth
Share
Notification Show More
Font ResizerAa
Rising KashmirRising Kashmir
Font ResizerAa
  • Home
  • Top Stories
  • News
  • Health
  • Anchor
  • Features
  • Interview
  • Video
Search
  • Home
  • Top Stories
  • News
    • Kashmir
    • City
    • Jammu
    • Politics
  • Health
  • Anchor
  • Features
  • Interview
  • Video
Follow US
© 2024. All Rights Reserved.
Rising Kashmir > Blog > Breaking > Interim Budget 2024-25 Ignites Hope for Real Estate & Infrastructure Growth
Breaking

Interim Budget 2024-25 Ignites Hope for Real Estate & Infrastructure Growth

ANI
Last updated: February 2, 2024 4:10 pm
ANI
Published: February 2, 2024
Share
8 Min Read
SHARE

During the presentation of the interim budget for 2024-25, Finance Minister Nirmala Sitharaman unveiled significant announcements. It not only lays the foundation for housing policies but also propels India towards a future marked by robust infrastructure and economic growth. The strategic initiatives outlined in the budget, coupled with the focus on capex, position the housing and commercial real estate sectors for sustained expansion, promising positive implications for the broader economy.

The budget announced a housing scheme aimed at supporting the middle class in realizing the dream of home ownership. The government’s commitment to construct close to 2 crore more homes under the Pradhan Mantri Awas Yojana (PMAY) rural scheme is a strategic move expected to give a substantial push to the ambitious “Housing for All” agenda.

Pradeep Aggarwal, Founder & Chairman, Signature Global (India) Ltd. says, “Finance Minister underscored the government’s recognition of the significance of homeownership. In a notable announcement, the FM stated a housing scheme would announce soon targeting the middle class, extending to those residing in rented houses with the aim of facilitating the construction or purchase of their own homes. This initiative is expected to revitalize the Mid housing & Affordable housing sector. Moreover, with the economic scenario improving and the average real income of individuals witnessing a 50% increase, optimistic expectations abound for the real estate sector to thrive across all segments. An additional favorable development is the government’s unwavering focus on infrastructure development, reflected in the 11.1% increase in the outlay for infrastructure. The government’s ambitious goal of transforming India into a ‘Viksit Bharat’ by 2047 is poised to create a conducive environment for the expansion of the overall economy and the real estate sector as well.”

Industry estimates suggest that India’s middle class is on the cusp of remarkable growth, nearly doubling to constitute 61% of the total population by 2047, a significant rise from 31% in 2020-21. The housing for the middle-class scheme aligns with the government’s vision to meet the evolving needs of this burgeoning demographic. This soon-to-be-launched housing scheme holds particular promise for the middle class, offering a financial boost that empowers individuals within this income category to either build or purchase their homes.

Santosh Agarwal, Executive Director and CFO, Alphacorp says, “We applaud the government’s forward-thinking approach outlined in the interim Union Budget for 2024-25, signifying a dedication to fostering comprehensive development through the middle-class housing scheme. The government’s commitment is evident in the successful construction of 30 million houses under the PMAY-Rural scheme, coupled with plans for an additional 20 million in the next five years to meet the escalating demand for housing. The substantial 66% increase in allocation, totaling Rs79,000 crore for FY24, for the Pradhan Mantri Awas Yojana scheme underscores the government’s emphasis on urban and affordable housing.”

Aman Sharma, Founder and Managing Director, Aarize says, “We appreciate the government’s commitment to inclusive development, which is particularly evident in the housing scheme for the middle class. The plan to construct an additional 20 million homes in the next five years under the PMAY-Rural scheme reflects their concerted effort to address the surging demand for housing. Furthermore, the government is focusing on developing infrastructure by expanding ongoing airport projects and strategically developing new ones to improve connectivity across cities, especially non-metros. These announcements made in the budget reflect the government’s forward-looking approach to contribute significantly to the nation’s growth.”

Another key driver propelling economic growth is the government’s steadfast commitment to enhancing infrastructure and connectivity nationwide. In the short-to-medium term, Tier-II and Tier-III cities are anticipated to experience heightened economic activity, courtesy of these concerted efforts. India’s infrastructure industry had been eagerly awaiting a comprehensive plan and timeline for bolstering infrastructure in the country, and the Interim Budget delivered on these expectations. The continued focus on capital expenditure (capex) at around 3.4% of GDP emerges as a catalyst for economic activity, aligning with the long-term vision of a ‘Viksit Bharat’ (Developed India).

Abhishek Trehan, Executive Director, Trehan Iris says, “The Union Budget 24 focuses on infrastructure development, women empowerment, youth, farmers, and marginalized sections of society which is the government’s future-ready approach towards inclusive development and aims to make India one of the strongest economies in the world. The continuous emphasis on the country’s infrastructural development signals the government’s focus on fostering economic growth exponentially. We appreciate the impetus given to infrastructure and improving connectivity quotients in the budget. This will also propel the growth of the realty sector across residential and commercial – -retail segments in metros and non-metros. It will have a positive impact on the real estate sector across cities, opening up new growth opportunities. The government’s vision of the Housing for All initiative got an additional boost in the budget with the announcement of constructing 20 million new houses under PMAY rural. This will enable the middle-class section to fulfill their dreams of having a home and a better livelihood.”

The infusion of funds into infrastructure development is poised to have a cascading effect on various sectors, with the commercial real estate market standing out as a key beneficiary.

Santosh Agarwal adds, “The government’s proactive stance extends to the infrastructure sector with the ongoing expansion of existing airports and the strategic development of new ones will progress efficiently. This forward-looking initiative is designed to enhance connectivity for tier 2 and tier 3 cities, with a goal of establishing 149 new airports. By aligning our endeavors with the government’s vision, we aim to contribute in the growth of the country.”

The Modi government’s focus on Governance, Development, and Performance (GDP) formed the core of her speech, underlining a commitment to sustaining a healthy inflation metric. The budget placed significant emphasis on key sectors, notably green energy, technology, railways, infrastructure, and tourism, reflecting a comprehensive approach towards fostering national growth and progress.

(ADVERTORIAL DISCLAIMER: The above press release has been provided by NewsVoir. ANI will not be responsible in any way for the content of the same)

Barring Gulmarg, night temp rises in J&K
MeT forecast ‘widespread’ rains in plains, snow over upper reaches in J&K
Police attaches properties of notorious drug peddlers in Awantipora
Two notorious drug peddlers booked under PIT NDPS Act in Budgam
DC visits Lodgement Centres to enquire about Safety, wellbeing of families shifted from Badhaal Village

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share This Article
Facebook Whatsapp Whatsapp Copy Link Print
Previous Article Authorities issue avalanche warning in eight J&K districts
Next Article PM Modi interacts with industrialists at Bharat Mobility Global Expo
Leave a Comment Leave a Comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected

1MFollowersLike
262kFollowersFollow
InstagramFollow
234kSubscribersSubscribe
Google NewsFollow

Latest News

Hyderpora underpass turns into cab stand, sparks safety concerns
City
May 26, 2025
Bear-Proof Corral unveiled to tackle human-wildlife conflict in Drass
Kashmir
May 26, 2025
SACPPE holds session to safeguard children from unexploded shells in Uri
Kashmir
May 26, 2025
‘Prem Visheshagya’ brings laughter to Natrangs’ Sunday theatre
Jammu
May 26, 2025

Recent Posts

  • Hyderpora underpass turns into cab stand, sparks safety concerns
  • Bear-Proof Corral unveiled to tackle human-wildlife conflict in Drass
  • SACPPE holds session to safeguard children from unexploded shells in Uri
  • ‘Prem Visheshagya’ brings laughter to Natrangs’ Sunday theatre
  • Admin spreads awareness on drug abuse in Sgr

Recent Comments

  1. SavePlus on AI and Behavioural Analytics in Gaming: Making the World of Gaming Better
  2. Parul on Govt acknowledges faulty streetlights on Narbal-Tangmarg road
  3. dr gora on Women Veterinarians and the Goal of Viksit Bharat
  4. jalwa game login on National Education Policy 2020: Transforming India’s Educational System
  5. Virender Bhat on Pahalgam Attack: A War on Humanity, Peace, and Kashmiriyat

Contact Us

Flat No 7,Press Enclave, Srinagar, 190001
0194 2477887
9971795706
[email protected]
[email protected]

Quick Link

  • E-Paper
  • About Us
  • Contact Us

Top Categories

Stay Connected

1.06MLike
262.5kFollow
InstagramFollow
234.3kSubscribe
WhatsAppFollow
Rising KashmirRising Kashmir
Follow US
© 2025. All Rights Reserved.
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?