Hailing various initiatives in the Budget 2016-17, Urban Development Minister Venkaiah Naidu on Wednesday said that the housing and construction sector got the benefits of infrastructure status in the Budget, even without being formally declared so.
Talking to mediapersons, he said that various tax concessions and reliefs announced will go a long way in meeting the long standing demand of the construction sector for infrastructure sector.
Naidu expressed concern over slow offtake of central assistance by States under Jawharlal Nehru National Urban Renewal Mission and urged them to improve planning and execution capabilities. He urged the States to quickly spend the resources provided by the Centre and ask for more.
Referring to the social media campaign by consumers and potential home buyers seeking early passage of Real Estate Bill, Naidu urged all concerned to enable early passage of this Bill which aims at promoting confidence of consumers and credibility of real estate sector.