The Union Budget: By leaps and bounds
2 years, 10 months ago

The Union Budget: By leaps and bounds

The Hindu  

With the Indian economy projected to retain the tag of fastest growing major economy, despite the pandemic, the industry draws comfort from the Union Budget 2022-23 which has prioritised long-term growth by boosting consumption. Moreover, the reiteration of commitment to circular economy, incentives for solar panel manufacturing, policy focus on EVs, incentives for private firms to partner in defence sector R&D, etc., highlight the approach of creating avenues which will eventually benefit the economy as well as open investments in industrial and commercial real estate. New homes The direct announcements in real estate came for data centres which will be accorded infrastructure status, and for housing which received an allocation of ₹48,000 crores for 80-lakh new homes; in addition to urban development focus. Granting of ‘infrastructure status’ to data centres with ongoing revolution in digital consumption and focus on data localisation laws, is expected to draw significant investor interest and wider access of funds.

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