The detailed budget speech, one of the most comprehensive ones in recent past did have some significant positives for sectors like Infrastructure, Power, Banking and NBFC, Agriculture reiterating her focus on Affordable housing, Education and Healthcare sector.
FDI in the construction sector has recorded a fall by 59 per cent to $1.9 billion during the last fiscal, as against USD 4.6 billion in 2015-16, despite relaxation in norms in the last two to three years, according to the Economic Survey. The survey has mentioned that the real estate sector has faced a drop in housing sales and new launches during 2016, delayed project execution and rise in developers’ debt.
For decades well past Independence, India peacefully lived with the concept of perpetual leases inherited from the colonial era. Seven decades on, the newly born republic that saw many generations live and die beneath the same roof has emerged as an economic powerhouse on the move. But the Governments’ design for housing has perhaps failed to keep pace with changing times.
About 1,605 km of roads were constructed till the end of December 2012 under various phases of the National Highways Development Project (NHDP), the Economic Survey said recently. While the total length estimates to be at 5.94 km per day in nine months, projects for another 878 km to be constructed in the remaining three months of financial year 2012-13 have been awarded, says the survey.