Boosting India's Economy: Affordable Housing, Infra Growth, and Manufacturing on Budget Radar
As the Union Budget approaches, affordable housing, infrastructure development, and manufacturing growth are expected to take center stage.
Affordable HousingInfrastructure GrowthManufacturingUnion Budget 2024Economic GrowthReal EstateJul 21, 2024
Finance Minister Nirmala Sitharaman is expected to prioritize green mobility, affordable housing, holistic infrastructure development, and a big push to manufacturing, along with boosting consumption demand. The budget is also likely to include a roadmap for making India a developed nation by 2047.
To achieve this goal, the government needs to prioritize and enable a shift from agriculture to manufacturing to provide a pathway for employment. Support for core engineering-led manufacturing, strengthening MSMEs, and creating new clusters like EV, electronics, and aircraft manufacturing is critical.
The paper also highlights the need for a national agriculture infrastructure mission with a focus on improving logistics like cold storage, processing units, and packaging facilities to reduce post-harvest losses and ensure better price realisation for farmers.
Promoting sustainable and climate-resilient agriculture will be a roadmap for de-carbonisation in agriculture for the next 10 years and help India meet its net-zero commitment by 2070.
With the Indian economy expected to increasingly run on green fuel, the directional shift is gathering pace across different levels. The launch of PMAY 2.0, incorporating components like Affordable Housing in Partnership and Beneficiary Led Construction, is expected to tailor housing solutions to financial capabilities of large sections of the population.
Frequently Asked Questions
What are the key areas of focus in the upcoming Union Budget?
The key areas of focus are expected to be affordable housing, infrastructure development, manufacturing growth, and boosting consumption demand.
What is the long-term vision for India outlined in the budget?
The long-term vision is to achieve developed nation status by 2047.
What is the significance of green mobility in the Indian economy?
The Indian economy is expected to increasingly run on green fuel, with a directional shift gathering pace across different levels.
What is the importance of manufacturing in the Indian economy?
Manufacturing is critical to providing a pathway for employment and achieving developed nation status.
Related News Articles
Rohan Builders Achieves Unparalleled Excellence with 14 Consecutive Years of CRISIL DA2+ Grading
Rohan Builders continues to maintain its prestigious DA2+ Developer Grading from CRISIL, demonstrating its commitment to excellence in financial and operational parameters.
Sebi Chief Remains Tight-Lipped on Real Estate Investment Trusts
REITs comprise a portfolio of commercial real estate assets, most of which are already leased out.
PGA of America Launches State-of-the-Art Golf Courses in Mumbai, Navi Mumbai, and Hyderabad
AIVOT Golf & Sports Management collaborates with Shapoorji Pallonji Real Estate, Stonecraft Group, and Tvastar Golf to introduce PGA of America-branded golf courses in Mumbai, Navi Mumbai, and Hyderabad, setting a new standard for golf excellence in India
Raymond Expands Real Estate Footprint with Mahim Project Deal
Raymond, in a strategic move, has signed a Joint Development Agreement for a prestigious residential project in the prime location of Mahim West, Mumbai.
Amrita Singh, Zaheer Khan Among Celebrities Investing in Mumbai's Luxury Real Estate
Amrita Singh and Zaheer Khan are among the latest celebrities making significant investments in Mumbai's luxury real estate market. Discover the trends and insights of these high-profile investments.
SP Group Raises $3.3 Billion from Five Funds to Boost Real Estate and Construction Projects
SP Group secures a significant $3.3 billion investment from five prominent funds, aimed at refinancing and expanding its real estate and construction projects. This strategic move will help the company solidify its position in the market and drive sustain