The government managed to implement 85 per cent of the budget in the last fiscal year despite spending a huge amount as subsidies and incentives, raising questions about the trend of unveiling bigger budgets year after year.
During the budget for 2021-22, Finance Minister Nirmala Sitharaman had announced the extension of the tax holiday on affordable housing projects till March 2022. Now, the Builders Association of Navi Mumbai (BANM), a developers’ body expects an extension of the scheme for another year.
The bill received parliamentary assent after Rajya Sabha passed it with a voice vote today. However, opposition parties had opposed the bill, and asked the government to refer it to a select committee