Real Estate Budget 2024: FM Nirmala Sitharaman has announced that that 1 crore households will be able to obtain up to 300 units of free electricity every month.
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Interim Budget 2024: The interim budget for the financial year 2024–25 has been announced today amid the high hopes of real estate players. There were higher hopes that the finance minister would provide a boost to the sector with a change in the definition of affordable housing by increasing the threshold limit from the existing Rs 45 lakh.
Notably, the affordable housing sector of India saw a decline of 20% percent in sales in 2023 as compared to a decline of 30% in 2022, as per a report by property consultancy ANAROCK. Therefore, it was expected that the interim budget for 2024 presented by Union Finance Minister Niramala Sitharaman would provide a big boost to the real estate sector. Keeping in mind the expectations, the government has announced many things to boost housing inclusivity in the country.
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Government To Help Provide Housing For Middle Class, Announces FM
Finance Minister Nirmala Sitharaman has announced that the government will help the middle class living in rented houses, slums or unauthorized colonies build or buy their own houses as a major announcement during the Interim Budget 2024.
Roof-top Solarisation Scheme For 1 Crore Households
Union Finance Minister Nirmala Sitharaman has announced that through the solar roof-top advancement, 1 crore households will be able to obtain up to 300 units of free electricity every month. Union Finance Minister Nirmala Sitharaman says, “Through roof-top solarization, 1 crore households will be enabled to obtain up to 300 units of free electricity every month. This scheme follows the resolve of the Prime Minister on the historic day of the consecration of Shri Ram Mandir in Ayodhya.”
“One crore households will be able to obtain up to 300 units of free electricity per month,” Sitharaman said while presenting the interim budget in Lok Sabha.
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Union Finance Minister Nirmala Sitharaman has said that households will save up to Rs 15,000–Rs 18,000 from free solar power and sell it to power distribution companies. She said the scheme follows Prime Minister Narendra Modi’s announcement that the government will launch the Pradhanmantri Surydaya Yojana with the target of installing rooftop solar on 1 crore houses.
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“This will not only reduce the electricity bill of the poor and middle class but will also make India self-reliant in the field of energy, PM Modi said on January 22, on the historic day of Pran Prathishta of Ram Mandir in Ayodhya.
