Ficci suggests support measures for housing sector in Budget - Quick Telecast Ficci suggests support measures for housing sector in Budget - Quick Telecast Ficci suggests support measures for housing sector in Budget - Quick Telecast

Ficci suggests support measures for housing sector in Budget

[ad_1]

Housing and construction sectors have forward and backward linkages and impact nearly 200 sectors and it needs to be provided holistic support in the upcoming Union Budget.

Industry chamber Ficci on Wednesday suggested the government to provide an interest subsidy of 3-4 per cent on housing loans and extend the concessional tax rate of 15 per cent to companies that invest in green technologies, in the forthcoming Budget.

Housing and construction sectors have forward and backward linkages and impact nearly 200 sectors and it needs to be provided holistic support in the upcoming Union Budget, it said.

“An interest subsidy of 3-4 per cent on housing loans could also be offered for a period of 3-4 years.

“Extend a concessional tax rate of 15 per cent to companies that invest in green technologies on or after a specified date and also allow full deduction towards investment/ purchase of green technology assets,” it added.

It also recommended for the government to subsidise the usage of 6 -7 cylinders in a year to poor households; increasing collateral-free loans under CGTMSE (Credit Guarantee Fund Trust for Micro and Small Enterprises ) from the existing Rs 2 crore to up to Rs 5 crore. It also suggested the extension of the sunset date for newly incorporated domestic companies to commence their manufacturing till March 31, 2025.

“Due to the outbreak of the COVID-19 pandemic, the setting up of manufacturing facilities/ production plans, regulatory approvals, resource planning, etc (which typically takes a considerable amount of time) within the sunset date of March 31, 2023, has become difficult,” it said.

Financial Express Telegram Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.



[ad_2]

Housing and construction sectors have forward and backward linkages and impact nearly 200 sectors and it needs to be provided holistic support in the upcoming Union Budget.

Industry chamber Ficci on Wednesday suggested the government to provide an interest subsidy of 3-4 per cent on housing loans and extend the concessional tax rate of 15 per cent to companies that invest in green technologies, in the forthcoming Budget.

Housing and construction sectors have forward and backward linkages and impact nearly 200 sectors and it needs to be provided holistic support in the upcoming Union Budget, it said.

“An interest subsidy of 3-4 per cent on housing loans could also be offered for a period of 3-4 years.

“Extend a concessional tax rate of 15 per cent to companies that invest in green technologies on or after a specified date and also allow full deduction towards investment/ purchase of green technology assets,” it added.

It also recommended for the government to subsidise the usage of 6 -7 cylinders in a year to poor households; increasing collateral-free loans under CGTMSE (Credit Guarantee Fund Trust for Micro and Small Enterprises ) from the existing Rs 2 crore to up to Rs 5 crore. It also suggested the extension of the sunset date for newly incorporated domestic companies to commence their manufacturing till March 31, 2025.

“Due to the outbreak of the COVID-19 pandemic, the setting up of manufacturing facilities/ production plans, regulatory approvals, resource planning, etc (which typically takes a considerable amount of time) within the sunset date of March 31, 2023, has become difficult,” it said.

Financial Express Telegram Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

FOLLOW US ON GOOGLE NEWS

Read original article here

Denial of responsibility! Quick Telecast is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – info@quicktelecast.com. The content will be deleted within 24 hours.


Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

Ads Blocker Image Powered by Code Help Pro

Ads Blocker Detected!!!

We have detected that you are using extensions to block ads. Please support us by disabling these ads blocker.

Powered By
100% Free SEO Tools - Tool Kits PRO