In Union Budget 2017, Finance Minister Arun Jaitley reserved his best for the real estate sector, which witnessed a slump post demonetisation. Giving affordable housing an infrastructure status, the Finance Minister gave aam aadmi enough reason to cheer. He said to give a boost to housing, banks have started reducing lending rates after demonetisation. His announcements on urban and rural housing are:Proposal to create 1 crore houses for the poor by 2019. National Housing Bank will refinance housing loans up to Rs 20,000 crorePradhan Mantri Awas Yojana, which was launched in 2015 to achieve government's mission of 'Housing for All by 2022', will get Rs 23,000 crore.

Source: India Today February 01, 2017 08:36 UTC