Reduce home loan rates, invest in infra: Top biz leaders ahead of Union Budget
Jan 30, 2023
Mumbai (Maharashtra) [India], January 31 : Amid growing public expectations around the Union Budget 2023, which will be presented on the floor of the Parliament on Wednesday, top business leaders of the country have also put forward their suggestions for Union Finance Minister Nirmala Sitharaman.
Arihant Infrastructures, CMD, Ashok Chhajer told ANI on Monday that the government should focus on reducing home loan rates.
"The government should reduce home loan rates. The affordable housing segment, which is capped at Rs 45 lakh, should be changed to Rs 60-75 lakh which is the average cost of a house in Metro cities and 2-tier cities," said Chhajer.
Hiranandani Group MD, Niranjan Hiranandani said the Budget should focus on further investments in roads, railways, ports, airports and highways, as well as slum rehabilitation schemes.
"There should be more focus on further investments in roads, railways, ports, airports and highways. The focus must also be on the slum rehabilitation schemes to make India a slum-free country," said Hiranandani.
He added that if multimodal transport becomes successful in the next 2-3 years, the logistics cost can be reduced by 3-4 per cent for every item in the country.
"Logistics cost in India is 13 per cent. If our multimodal transport matters become successful in the next 2-3 years, we can reduce logistics cost by 3-4 per cent for every item in the country," he added.
The Budget Session will be held in two parts. It will begin with President Droupadi Murmu's address to the joint session of the two Houses of Parliament.
The Economic Survey will be tabled after the President's address.
The Union Budget 2023-24 may be the last full budget to be presented by the BJP-led central government before the 2024 Lok Sabha elections.
The first part of the session will be held from January 31 and will go on till February 13. It will see debates in both Houses on the 'Motion of Thanks' to the President's address, which will conclude with a reply from Prime Minister Narendra Modi.
The Parliament will reconvene after a recess for parliamentary committees to discuss the demand for grants of various ministries. The second part will begin on March 13 and will continue till April 6.
The Money Bill is passed after a discussion on the demand for grants and it marks the culmination of the budget process.
During the Monsoon Session, nine bills were passed by both Houses of Parliament.
