Demand for 10% Tax Exemption and Ayushman Limit Extension to ₹10 Lakh in Union Budget
As the Union Budget presentation approaches on February 1, various sectors, particularly real estate, are voicing their demands for significant financial benefits. Among the key demands are a 10% tax exemption and an extension of the Ayushman scheme limit
Union BudgetTax ExemptionReal EstateAyushman SchemeHealth InsuranceReal Estate MaharashtraJan 31, 2025
Among the key requests are a 10% tax exemption and an extension of the Ayushman scheme limit to ₹10 lakh.
These proposals aim to provide substantial relief to individuals and boost the economy.
The real estate sector, which has been hit hard by the economic slowdown and the pandemic, is particularly hopeful about these changes.
According to industry experts, a 10% tax exemption could significantly reduce the financial burden on homebuyers and property investors.
This move is expected to stimulate demand and boost the overall market.
The Ayushman scheme, also known as Pradhan Mantri Jan Arogya Yojana (PMJAY), has been a lifeline for millions of poor and vulnerable families, providing them with health insurance coverage.
Extending the limit to ₹10 lakh would ensure more comprehensive health coverage and reduce out-of-pocket medical expenses for beneficiaries.
This could also encourage more people to seek timely medical care without financial strain.
The real estate industry has been advocating for these changes, highlighting the potential benefits for both the economy and individual families.
Speaking to the media, a leading real estate developer said, 'A 10% tax exemption and an Ayushman limit extension would be a game-changer.
It would not only help homebuyers but also revive the real estate sector, creating jobs and boosting investment.'
The government has been receptive to such suggestions in the past, and there is optimism that these demands might be considered in the upcoming Budget.
The Ministry of Finance has been engaging with various stakeholders, including industry bodies and experts, to gather inputs for the Budget.
Additionally, there are calls for other measures to support the real estate sector, such as reducing interest rates on home loans, promoting affordable housing, and easing regulatory norms.
These proposals could further enhance the attractiveness of the real estate market and attract more investors.
The Union Budget is a critical event that sets the tone for the fiscal year.
It is hoped that the government will consider these demands and introduce policies that benefit a wide range of stakeholders, from homebuyers to healthcare beneficiaries.
The real estate sector, in particular, is closely watching the Budget announcements, as they could have a significant impact on the industry's recovery and growth.
In conclusion, the demands for a 10% tax exemption and an Ayushman limit extension to ₹10 lakh are gaining traction as the Union Budget approaches.
These measures could provide much-needed relief and support to individuals and the economy, particularly in the real estate and healthcare sectors.
Frequently Asked Questions
What is the Union Budget?
The Union Budget is an annual financial statement that outlines the government's planned revenues and expenditures for the upcoming fiscal year. It sets the tone for economic policies and is presented by the Finance Minister.
What is the demand for a 10% tax exemption in the real estate sector?
The real estate sector is demanding a 10% tax exemption to reduce the financial burden on homebuyers and property investors. This move is expected to stimulate demand and boost the market.
What is the Ayushman scheme?
The Ayushman scheme, or Pradhan Mantri Jan Arogya Yojana (PMJAY), is a government health insurance scheme that provides coverage to poor and vulnerable families, helping them access medical care without financial strain.
Why is there a demand to extend the Ayushman limit to ₹10 lakh?
Extending the Ayushman limit to ₹10 lakh would provide more comprehensive health coverage and reduce out-of-pocket medical expenses for beneficiaries. This could encourage more people to seek timely medical care.
What other measures are being proposed to support the real estate sector?
Other measures include reducing interest rates on home loans, promoting affordable housing, and easing regulatory norms. These proposals aim to enhance the attractiveness of the real estate market and attract more investors.
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