MUMBAI: The budget proposal to promote low cost housing is likely to boost the country's economy amid a pick-up in consumption demand, said Kapil Wadhawan, chairman of Wadhawan Global Capital ( WGC ), the financial services conglomerate that runs Dewan Housing Finance as its flagship. "In nutshell, the Budget is robust on rural spending, fiscal math and macroeconomic parameters. It will certainly boost the rural and agriculture sectors," Wadhawan said. "The Union Budget 2018 , an incremental move in the backdrop of global oil price uncertainty & growing protectionism, maintaining a fiscal deficit of 3.5% for this year and promise to bring it down to 3.3% next year is a very credible and realistic step. "Robust outlays for agriculture and rural economy, healthcare, rural housing and affordable urban housing, infrastructure and education were the major highlights.

Source: Economic Times February 03, 2018 13:52 UTC