India has recently signed Loan Agreement with World Bank for US$ 250 Million for “Skills Acquisition and Knowledge Awareness for Livelihood Promotion” (SANKALP) Project.

With the aim to revive the ailing construction sector, the Cabinet Committee on Economic Affairs (CCEA) has approved various measures proposed by the NITI Aayog.

It is a welcome step by the apex bank. We now expect banks to cut home loan rates to pass on the actual benefits to home buyers.

The third time rate cut in the year is definitely in line with the expectation of the market. Government is trying to create new pathways for growth and this policy announcement will provide the much needed stimulus to the economy only if benefits of the same are passed by the bank to the consumers, as suggested by RBI Governor.

The Indian Renewable Energy Development Agency (IREDA) is likely to raise tax free bounds worth Rs.2,000 crores from markets to support the solar initiatives of the government in next few months in a bid to lend soft loans to developers to accomplish the roof top mission of the government, according to the Ministry of New and Renewable Energy.

The proposal for setting up 100 smart cities at a cost of Rs 7060 crores is well planned by the government. This will have a tough competition for the developers to raise the bar for the execution in the Industry.

The relief provided on individual income tax and interest on housing loans is very significant for the budget homes sector, since these measures have greatest pertinence to the more financially sensitive home buyers.

The FM has given much-needed relief to individual tax payers by raising the income tax exemption limit by 50,000 and has also raised the limit of the interest part of home loans from Rs. 1.5 lakh to Rs. 2 lakh.

The National Housing Bank has received an allocation of Rs.8000 crore for this program, which will have. I am especially enthusiastic about the Rs. 7060 crore allocation towards the government’s program for creating 100 smart city projects.