Expenditure on infrastructure may go up in Union Budget: SBI Chairman

The Chairman of State Bank of India (SBI) Rajnish Kumar on Friday said that expenditure on infrastructure might go up in Budget 2020 to revive economic growth.

"I am expecting that the budget will be on reviving economic growth. I think expenditure on infrastructure might go up and some measures to revive the demand in the rural areas may also happen," Kumar told .

As the Union Budget of India for 2020-2021 will be presented on February 1, industry experts have their expectations from the Finance Minister, Nirmala Sitharaman to bring the corrective measures which will drive the economy forward.

The National Real Estate Development Council (NAREDCO) on Wednesday called for lower interest rates or no cap limit on interest subsidy of home loans in the upcoming Union Budget for 2020-21.

Earlier, there was a Rs 2 lakh limit which was increased by Rs 1.5 lakh, making it Rs 3.5 lakh during the previous Budget. "We are hopeful that 2020 will see no cap limit," said Rajan Bandelkar, President of NAREDCO West and Director of the Raunak Group.

"The 2020 Budget may also see new developments in real estate investment trusts and rental housing to meet the needs of Pradhan Mantri Awas Yojana (PMAY)," he said in a statement.

( With inputs from ANI )