- Infrastructure Status accorded to Affordable Housing also redefining the unit sizes of 30 sq. mtr. and 60 sq. mtr. from built up area to carpet area. Projects in the direct municipalities of the four metropolitans to be considered for 30 sq. mtr. capping, rest all regions to have the capping at 60 sq. mtr. for affordable housing.
- Affordable housing projects to be awarded a completion time of 5 years from launch as against the previous tenure of 3 years.
- Developers to get one year’s time to pay tax on notional rental income on completed unsold residential inventory.
- Tax benefits to the middle income group providing tax rate cuts of 5% for people in the income slab of INR 2,50,000 to INR 5,00,000. Additional reduction of INR 2,500 for people earning INR 3,00,000 annually making their total tax component zero. Reduction of INR 12,500 allowed on the final tax figures of remaining slabs.
- Income Tax rate for MSMEs with turnover upto INR 50 crores reduced to 25% from the earlier rate of 30%.
- Pradham Mantri Gram Awas Yojna to build 1 crore houses by 2019. INR 23,000 crores allocated for this financial year compared to INR 15,000 crores in the last financial year.
- Pradhan Mantri Gram Sadak Yojna allocated funds of INR 19,000 crores which will cumulatively amount to INR 27,000 crores with the contribution from states.
- INR 64,000 crores allocated for Highways against last year’s INR 57,676 crores. This would also include 2,000 Kms of coastal connectivity which have been identified.
- A total of INR 3,96,135 crores have been allocated towards infrastructure development which is the highest in history.
- Airports in smaller towns to come up on PPP model.
- FDI norms to be further liberalised and online application to be enabled for FDI. FIPB to be abolished.