Confederation of Real Estate Developers Associations of India (CREDAI) State vice-president Katuri Subhash Chandra Bose hailed the allocation of ₹1 lakh crore as urban challenge fund in the Union Budget on Saturday.
In a press release, he said that the exclusive fund would ensure better planning of cities and towns across India. “With the migration of people from rural areas, population is increasing in cities. So, expansion of cities has to be done with proper planning. The exclusive fund enables State governments to improve civic amenities on outskirts,” he added.
Vizianagaram Chamber of Commerce president Kapuganti Prakash hailed the income tax exemption up to ₹12 lakh. Relaxation of taxes was the need of the hour for higher income groups too, he felt.
Vizianagaram Rotary Club Central president Arisetti Nageswara Rao and secretary Reyyi Shankar Reddy said that the income tax exemption would be a boon for middle and upper middle class sections in the backdrop of rising inflation. Vasavi Club district cabinet secretary (Administration) Alavelli Sekhar felt textile business sector would benefit as people were likely to allocate higher budget for garments with more disposable income at hand owing to higher income tax exemption.
Published – February 01, 2025 06:55 pm IST