NCLAT: Cannot Withhold Income Tax Refund Received by Bank During CIRP In CD's Account  ||  All. HC: With S. 111 of BNS Covering 'Organised Crime' It Appears Gangsters Act has become Redundant  ||  P&H HC: Cannot Allow Changes in Admission Form after Submission  ||  Bom. HC: Findings in Criminal Proceedings Cannot Be Relied Upon While Adjudicating Civil Proceedings  ||  P&H HC Directs Jail Authorities to Decide Parole Applications within Four Months  ||  Allahabad HC: Merely Supporting Pakistan Will Not Prima Facie Attract Section 152 of BNS  ||  HP HC Upholds Wife’s Claim of Adverse Possession after Husband’s Death  ||  Patna HC: Maintenance may be Allowed in Disputed Marriages if Relationship Was Socially Accepted  ||  Karnataka HC: State to Respond in 3 Weeks regarding Mandatory Teaching of Kannada  ||  Delhi HC: Husband Unhappy in Marriage is No Proof of Abetment of Suicide    

Central Government takes various initiatives to control construction costs of affordable housing projects- (Press Information Bureau) (08 Aug 2022)

MANU/PIBU/3541/2022

Civil

Central Government has taken measures to control the rising prices of construction materials of affordable housing including Pradhan Mantri Awas Yojana - Urban (PMAY-U). In Union Budget 2021-22 and 2022-23, Customs Duty has been reduced uniformly to 7.5% on Semis, Flat and Long products of non-alloy, alloy and stainless steels. Export duty on iron ores / concentrates and iron ore pellets has been raised to 50% and 45% respectively. In addition, 15% export duty has been imposed on pig iron and several steel products. Moreover, to give relief to secondary and MSME sector steel industry engaged in housing/construction sector, TMT bars below 8 mm have been exempted from the purview of the Quality Control Order, as these are primarily used for non-critical applications. Government has also taken steps to increase availability of iron and steel which, inter-alia, includes Mining and Mineral Policy reforms to ensure enhanced production and availability of iron ore.

Moreover, Central Government has been taking various initiatives to control construction costs of affordable housing projects including PMAY-U such as reduction in Goods and Service Tax (GST) on under-construction Affordable Housing projects from existing 8% to 1% without Input Tax Credit (ITC) and in case of other housing projects, 5% from existing 12% without ITC, increase in Priority Sector Lending for Affordable Housing Project from Rs. 28 lakh to Rs. 35 lakh in metros and from Rs. 20 lakh to Rs. 25 lakh in non-metros; Setup of Affordable Housing Fund in National Housing Bank.

Tags : INITIATIVES   CONSTRUCTION COSTS   HOUSING PROJECTS  

Share :        

Disclaimer | Copyright 2025 - All Rights Reserved