The Finance Minister Nirmala Sitharaman unveiled Rs 102 Lakh Crore for Infra Projects that will come up in the next five years
By Varun SinghThe Finance Minister of the country Nirmal Sitharaman’s announcement of unveiling of Rs 102 lakh Crore for the infra projects in the next five year year has been termed as forward looking by the Industry.
A task force formed by the government, identified Rs 102 lakh crore worth of projects after it conducted consultations with 70 stake holders in a brief period of four months.
Realty Industry hopes that this works
Dr Niranjan Hiranandani- National President- NAREDCO
The Finance Minister has unveiled outlay of Rs.102 lakh crore infrastructure projects to be put out in 2020, which can be termed forward-looking for inclusive growth that promises to create jobs, enable a better lifestyle. We welcome the announcement under the National Infrastructure Pipeline Coordination Mechanism that will coordinate between center, state, and private sector. However, implementation of the projects with public-private partnership remains the key factor.
Private players are still facing an acute credit crunch. The government needs to address the issues of private players’ difficulties as well. The step taken by the government is a right step towards addressing the current economic setback.
The proposed Single Window Clearance for investments in projects with a definite timeline from the centre and state is a much-needed breather for the industry. FM also mentioned that the government aims to invest Rs 5 lakh crore in 5 years in the National Infrastructure Pipeline (NIP) that will give boost to the current sluggish real estate market in the country.
Ashok Mohanani, Chairman EKTA World and Vice President NAREDCO Maharashtra
The announcement by the FM on unveiling investment of Rs 102 lakh crore in the national infrastructural plan will boost the sector as sentiment will see an uptick. Given the economy’s situation, this is promising and will add impetus to the sector’s growth.
The investment of Rs 20 lakh crore on road projects promises both quality infrastructure and better connectivity which will benefit both buyers and developers by providing good value to the housing assets. On the other hand with the central and state governments expectations on private shares of national infrastructure rising to 30 % from 22% will get the sector organised and act as a game changing regulatory.
We are hopeful that the annual investors meeting will turn the tables for the sector at large and increase much needed liquidity in the sector. The New Year will certainly start on a great note as the SBI interest rate cut to 7.80% per annum from 8.05% per annum will come into effect from January 1, 2020 which will further reduce interest rates for existing home loans that will attract potential home buyers.
