And Here's an Extract From the Article
The Union Budget 2021 had to bear a unique burden of expectations to put India back on the road to recovery following a deep recession induced by COVID-19. While the expectations were soaring for the Government, the Budget did not meet them all. Here are some major hits and misses of the Budget 2021.
The Government’s focus on affordable housing was quite evident from the budgetary announcements this year. The Government has announced tax exemption for notified affordable housing for migrant workers. Furthermore, the deduction on payment of interest for affordable housing has been extended by another year, i.e. up to 2022. The move will facilitate customer buying in the near future. In addition to the thrust for affordable housing, the Government has also announced simplification of taxation norms to boost the investment coming via the NRI route. This will incentivize NRIs to invest in our country as they will get a tax rebate on the rental income. Further, the move will boost the demand for holiday homes and commercial real estate across the country