Citing a study, National Real Estate Development Council’s National President Dr Niranjan Hiranandani said that as per the findings of the study conducted by the National Institute of Public Finance and Policy, it is estimated that while 18.92 lakh direct jobs would have been created due to massive push for building houses under the government’s flagship scheme, another 42.57 lakh jobs would have been created through an indirect effect.
The report also said that the increased pace of house construction has a multiplier effect on the allied industries such as cement, steel and other construction materials.
“Housing has always been important for India’s economy over the years, as it offers visible results to gauge quantum of development. It is vital for the GDP growth, as it creates jobs, generates revenue for the government in the form of taxes as also wages which impact not just the economy but also positively influence residents’ standard of living,” said Dr Hiranandani.
Source: Business Standard
