PMAY outlay increase much needed fillip for realty: Puravankara MD

"The government's focus on infrastructure, investment and housing for all in today's budget is commendable. The steep hike in outlay for the PM Awas Yojana by 66% to Rs 79,000 crores will give the much-needed fillip to the affordable housing sector. Another steep hike of 33% in the capital investment outlay, which translates to 3.3% of the GDP, is a bold move which will help India in its goal to become a 5 trillion-dollar economy by fuelling investments and job creation. The government has shown its seriousness in building an environmentally sustainable economy by including ‘Green Growth’ as one of its priority areas and reiterating India’s goal to achieving net zero carbon emissions by providing Rs. 35,000 crores for priority capital investments. The green credit program is unique and will incentivise companies to take environmentally responsible actions. We think today’s announcements will help ensure continued economic growth and hence positive sentiments for housing demand in 2023."

-Ashish Puravankara, Managing Director, Puravankara Limited