Finance Minister says that rise in real estate can result in national growth
The Finance Minister dismissed the criticism of the Government acting like ‘pro-business’. He further stated that they have more activities in the private sector but that will in turn help in creating more employment and in turn help in generating more revenues. This acts as a silver lining because it could help in removing the poverty problem.
Arun Jaitley, clarified saying that there is no contradiction in becoming pro-business and pro-poor. In a way if you stop business activities that would end you up in having lesser resources.
Housing Push
The Finance Minister further stated that they want to incentivise people so that they buy their own house. When the Vajpayee Government was running a situation had aroused when the rent you paid was costlier than the EMI. Since then the interest rates have gone sky high. They hope that if inflation is moderated the interest rates might come down. The present government hopes that they can turn the situation back to then when buying a house would be easier than taking a house on rent. Thus the growth in the real estate sector adds up to the national growth.
Source: The Hindu Business Line
