Published: 05th July 2019
Union Budget 2019: Nirmala Sitharaman slams 'Archaic' rental laws, new policy on the way
Nirmala Sitharaman has announced that the government will invest in public infrastructure and affordable housing
Soon, your house owner may not be able to push you around - or tell you how to live your life in his house. The Finance Minister has announced that several reforms will be proposed with regard to rental housing and creating affordable housing will be a priority for the government.
Sitharaman called the current rental laws "archaic" and said that the laws that exist right now are not realistic and are not fair to the leasee and the leaser. The Minister said that a new rental law will be finalised and circulated to the states.
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She also announced that large public infrastructure would be set on land held by the central government. The Finance Minister also announced that innovative instruments will be usd to develop public infrastructure and affordable housing.
India's first full-time woman finance minister Nirmala Sitharaman presented her maiden union budget at 11 am on July 5. Sitharaman reached the Parliament an hour ahead of time with the budget document folded in a red traditional cloth sealed with the government seal. Analysts and the media had predicted that her first budget will be focused on the middle class and the poor and that it will take the SoPs presented in the interim budget by Piyush Goyal in February further.
Sitharaman has to deal with income tax exemption slabs, unemployment and form a pro-janta budget with the added task of pulling the country out of a five year low. With former Education Minister Prakash Javadekar promising that the government will try its best to spend 6 per cent of the GDP on education and the PM stressing on the youth development and innovation, eyes are on Sitharaman's budget to bring the change.