Good News For Home Buyers: Rs 48,000 Crore Allotted Under PM Housing Scheme

Budget 2022:Finance Minister Nirmala Sitharaman, while presenting the Union Budget, informed that the housing projects have been allotted Rs 48,000 crore for FY-2023 under PM Housing scheme and Rs 60,000 Crore given to cover 3.8 crore households for tapwater. “Current coverage of “Nal Se Jal” scheme is Rs 8.7 crore, +Rs 3.8 cr to be added in next 2 years,” the Finance Minister said. Also Read – Budget 2022: Booster Dose For Healthcare Sector | Key Takeaways

The Finance Minister also said that the country is expected to grow at 9.27 per cent in the coming year. With a focus on four pillars of development — inclusive development, productivity enhancement, energy transition and climate action — the Budget gives a blueprint of economy from India at 75 to India at 100, Sitharaman added. Also Read – Union Budget 2022: Rs 6,000 Crore Programme To Rate MSMEs To Be Rolled Out In 5 Years

Important Announcements: 

• In 2022-23, 80 lakh houses will be completed for identified beneficiaries of PM Awas Yojana; 60,000 houses will be identified as beneficiaries for PM Awas Yojana in rural & urban areas.
• States will be encouraged to adopt land parcel identification number. Cross border insolvency resolution to be facilitated by changes in IBC, voluntary winding up of companies reduced from 2 years to 6 months: FM Sitharaman
• Effective capital expenditure of govt is estimated at 10.68 lakh crores in 22-23 which will be about 4.1% of the GDP; sovereign green bonds will be issued for mobilising resources for green infra: FM Nirmala Sitharaman
• Outlay for capital expenditure in union budget stepped up sharply by 35.4% to Rs 7.50 lakh crore in 2022-23 – 2.9% of GDP: FM Sitharaman
• 68% of the capital procurement budget for Defence to be earmarked for domestic industry to promote Aatmanirbharta and reduce dependence on imports of defence equipment. This is up from the 58% last fiscal: FM Sitharaman
• Digital University to be set up to provide access to students across country, to world class quality universal education, with personalized learning experience University to be built on a network hub and spoke model, with collaboration of best public Universities
• Animation, Visual effects, Gaming and Comics (AVGC) sector offers immense potential to employ youth; AVGC task force will be set up with all stakeholders to build capacity to serve our markets and global demand: FM Nirmala Sitharaman

Also Read – India To Have Its Own Digital Currency, FM Makes Big Announcement in Budget Speech