Union Minister for Urban Development, Housing and Urban Poverty Alleviation Venkaiah Naidu has said that housing sector is the biggest beneficiary of demonetisation as interest rates have fallen. He expressed hope that Finance Minister Arun jaitley will announce more incentives for the sector in the coming Union Budget on February 1.<br/><br/>Talking at an Investment Summit in Visakhapatnam, the minister said, 15 lakh crore rupees have come back into the system post demonetisation. Mr Naidu said this will lead to more people coming under the tax net.<br/><br/>He said if tax net widens, the interest rates will come down. He said the boom in housing sector means pick up in sectors like cement, steel, and construction, leading increase in employment.
News On AIR | January 28, 2017 7:47 AM
Housing sector biggest beneficiary of demonetisation: Venkaiah Naidu