New Delhi: The First Full-Time Budget 2019 of its second term by the Modi government today provides a major relief to the middle-class people. More importantly, under the target of housing for all and for a small accommodation, the Modi government has announced an additional exemption of up to Rs 1.5 lakh to home buyers priced up to Rs 45 lakh.
The announcement was made by Finance Minister Nirmala Sitharaman while presenting the Budget in the Lok Sabha and said that loans are taken till March 31, 2020, to buy a cost of up to Rs 45 lakh were paid by the Government. I would like to allow additional deductions up to Rs 1.5 lakh for the priests.
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He further said that the person who buys such a house will now be given the benefit of interest deduction up to Rs 3.5 lakh. This will enable middle-class homebuyers to avail a loan of up to Rs 7 lakh on their 15-year tenure. While this budget had a lot of expectations, experts say the budget has been disappointing.
