Union Budget 2022: Only a few days are left for the Union Budget 2022 to be presented by the Union Finance Minister Nirmala Sitharaman. Zee Business reported Ambarish Pandey has reported that several big announcements are expected for the housing sector in the upcoming budget.

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It is expected that the budget for the housing sector will grow by 15 per cent over the last year, this time. Furthermore, affordable housing will be in focus this time as well.

The home-buyers may get relief as expectedly as additional discounts on households priced above Rs 45 lakh will be announced. Also, the interest relief of Rs 1.5 lakh is further expected to be raised.

 

Prime Minister Narendra Modi has announced the extension of Urban Housing Scheme for next year. So, there is a possibility of big announcements for the projects which are stuck and stalled.

The funds from SWAMIH are expected to be allocated to the stalled projects after COVID-19.

Again, it is expected that there will be relaxation in the rules and qualifications for SWAMIH funds which will be easy to complete the projects that have been halted.

At present, the government's contribution to 'Special Window for Funding Stalled Affordable and Middle-Income Housing Projects' (SWAMIH) is Rs. 10,000 crore. It is expected to be increased in the Union Budget 2022.

In the previous budget, the main focus of the government was on health and rural infrastructure development. This year, the Omicron variant of COVID-19 has raised concerns amid the economic recovery in the economy.

 -The Union Budget 2022-23 is likely to be tabled on February 1, 2022 by Union Finance Minister Nirmala Sitharaman.

 -This is the 4th Budget of the PM Narendra Modi-led NDA government in its second tenure.

 -The Budget 2022 will be presented around 11 am on 1st February 2022.