New Delhi: Urban experts on Tuesday hailed the Union Budget presented by Finance Minister Nirmala Sitharaman in the parliament. Talking to ETV Bharat Prof KK Pandey from the Center of Urban Studies of the Indian Institute of Public Administration (IIPA) said that the budget has given importance to the overall development of the urban sector.
"Starting from housing for all, the union budget has provided urban planning support to states," said Prof Pandey. He also hailed the decision of setting up five centers of excellence for urban planning courses. "The center has also announced setting up an endowment fund of Rs 250 crore each for urban planning courses that would assist in the urban sector," said Prof Pandey.
In her budget speech, Sitharaman said in 2022-23, eighty lakh houses will be completed for identified eligible beneficiaries of PM Awas Yojana in both rural and urban areas for which Rs 48,000 crore has been allocated. The Finance Minister stated that the central government will work with the state governments for a reduction of time required for all land and construction-related approvals for promoting affordable housing for the middle class and economically weaker sections.
"The central government will work with the state government for reduction of time required for all land and construction-related approvals, for promoting affordable housing for the middle class and economically weaker section in urban areas. We shall work with the financial sector regulators to expand access to capital along with the reduction in the cost of intermediation," Sitharaman said.
The finance minister said that a high-level committee of reputed planners, urban economists, and institutions will be formed to make recommendations on urban sector policies, capacity building, planning, implementation, and governance. "By the time India reaches 100, early half of our population is likely to be living in urban areas. To prepare for this, orderly urban development is of critical importance. This will help realize the country's economic potential, including livelihood opportunities for the demographic dividend," said Sitharaman.
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