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[hfe_template id='11223'] [ad_1] (This story originally appeared in on Oct 11, 2024) Housing finance companies (HFCs) betting big on the Pradhan Mantri Aawas Yojana (PMAY) and Affordable Housing Refinance Scheme to prop up their mortgage books may not see a boom in demand this festive season as the schemes are yet to be rolled out. These specialised mortgage lenders are still awaiting implementation guidelines from the government to roll out the PMAY subsidy scheme, industry executives said. "We were hoping these schemes would be rolled out during the festive season - that is when we see most demand, but it's been more than a month and we are still awaiting execution guidelines for PMAY," said a senior official with a housing finance company. The government had said the PMAY scheme will be implemented from September 1, while the refinance scheme was to be implemented from October 1. But procedures to implement these schemes have not been communicated yet. ...

[hfe_template id='11223'] [ad_1] The overall theme of the Interim Union Budget 2025 was being prudent and focusing on long term growth. The fiscal deficit for F2025 had been estimated at 5.1% as against 5.8% in F2024. There were no populist measures either, in fact the overall subsidy has been reduced by ~8%. The overall Capex spent by the government has increased an impressive 6.8x in the last 11 years. The RBI dividend of Rs 2.1 trillion or 0.4% of the GDP announced in May has added an extra cushion of Rs 1.3 trillion to the fiscal spends. (Source: India Budget, JM Financial Research) We believe this incremental gain in revenues would be partly spent in increasing rural expenditure, something which was missing post COVID era. In F2021 the govt. had increased rural spend by 38% to Rs 3.9 trillion. But since then the expenditure has been declining and is still lower than F2019 levels. After Mahatma Gandhi National Rural Employment Guarantee Program (NREGS), the second b...