New Delhi: The Confederation of Real Estate Developers’ Associations of India (CREDAI) has expressed deep disappointment over the Union Budget 2026-27, stating it offered “nothing concrete” on affordable housing despite repeated pre-Budget pleas. In a strong reaction post finance minister Nirmala Sitharaman’s presentation, CREDAI national president Shekhar Patel highlighted the sector’s unmet demands for redefining affordable housing caps and launching a National Rental Housing Mission amid rising urbanisation pressures.
The budget was hailed by the education sector though.
CREDAI had urged hiking the stagnant ₹45 lakh price cap — unchanged since 2017 — to ₹90 lakh, emphasising it no longer reflects escalated land and construction costs in tier-1 and tier-2 cities. “Affordable housing remains critical for employment, urban development, and Viksit Bharat, yet the Budget missed structural reforms like tax incentives for developers and GST rationalisation on works contracts from 18% to 12%,” Patel said. The body also sought raising home loan interest deductions to ₹5 lakh from ₹2 lakh and a dedicated Credit Guarantee Scheme for low-income buyers lacking documentation.
While the Budget allocated funds to PMAY Urban 2.0 and infrastructure capex at ₹12.2 lakh crore, CREDAI flagged underutilisation in schemes like Jal Jeevan Mission as symptomatic of broader gaps. “Without revising definitions or incentives, pent-up demand stays locked, developers shift to premium segments, and homebuyers lose access,” a CREDAI statement noted, warning of slum proliferation without rental policy shifts. The apex body proposed tenant tax benefits and institutional funding to formalise rentals, curb informal settlements, and aid migrant mobility—measures absent in the fiscal blueprint.
Industry voices echoed frustration: NAREDCO’s Niranjan Hiranandani called it a “missed opportunity” for Housing for All, while economists like Jean Drèze linked it to consumption slumps hurting realty. CREDAI vowed to engage stakeholders for mid-year corrections, stressing policy stability for supply revival.
Vishal Aditya Sahoo, director, New Age Learning, SAI International Education Group, hailed the budget for its stress on education for employment, rather than a mere degree.
“The Union Budget’s strong emphasis on the education-to-employment continuum marks a decisive shift from degree-centric learning to outcome-driven, future-ready education. The creation of a High-Powered Education to Employment and Enterprise Standing Committee recognises that education, skills, and enterprise must evolve together, particularly as the services sector is positioned as a key driver of India’s global leadership by 2047. Aligning curricula with industry needs, emerging technologies, and entrepreneurship will be critical to preparing learners for future careers. The plan to establish five University Townships along the lines of industrial and logistics corridors is a revolutionary approach to learning ecosystems. By bringing together universities, research institutions, skill development centers, and residential spaces, these townships have the potential to fill the gap between academia and industry, allowing for experiential learning, research, and talent transfer. Equally important is the emphasis on inclusivity and accessibility. The plan to set up one girls’ hostel for STEM institutions in every district is a direct move to remove the hurdles for young girls, increasing their participation and retention. In the healthcare sector, the plan to increase allied health professional institutions, add 100,000 professionals in five years, and introduce new skilling options for caregivers is a progressive approach to meet the increasing demand for talent. The Budget also identifies creativity as a force multiplier. The plan to introduce AVGC labs in schools and colleges, establish a new National Institute of Design in Eastern India, and introduce schemes such as the National Destination Digital Knowledge Grid provides opportunities in design, tourism, culture, and technology. The simplification of TCS on education and medical expenses through the Liberalized Remittance Scheme makes learning abroad more accessible,” he said.
Vijisha Sahoo, advisor, Tech and Innovation, SAI International Education Group, is happy about the importance given to Artificial Intelligence in the budget.
“Artificial Intelligence today is much more than an efficiency enabler; it is a powerful governance and productivity multiplier that has the potential to transform the way services are designed, delivered, and accessed. By integrating AI across all systems, governance can become more data-driven, responsive, and resilient, with the ability to make decisions faster and achieve better outcomes for citizens. The government’s continued support through the IndiaAI Mission, the Anusandhan National Research Fund, the Research, Development, and Innovation Fund, and the National Quantum Mission plays a critical role in developing a strong and future-ready AI ecosystem that promotes research, innovation, and homegrown capabilities. Equally important is the realization that AI is going to revolutionize the workforce. The proposed Education to Employment and Enterprise Standing Committee is a welcome move, as it will evaluate the effects of AI on employment, determine the emerging skill needs, and provide recommendations on reskilling and workforce transition strategies. This is because it will ensure that learners and professionals are not replaced by technology but empowered by it. The true power of this vision is in the practical application of AI. Projects such as Bharat-VISTAAR show how AI can be used to directly benefit farmers by bringing together trusted knowledge systems and providing customised and multilingual advice. Similarly, the use of AI in assistive devices and rehabilitation technology for the Divyangjan shows how technology can be used to improve independence, accessibility, and quality of life. When combined with education and skill development, AI becomes a force for inclusive growth, enabling individuals, communities, and institutions to fully engage with India’s future as a resilient and technology-driven nation,” she said.
“Another area of equal importance is the investment in basic scientific infrastructure. Upgradation of facilities like the National Large Solar Telescope, National Large Optical-Infrared Telescope, Himalayan Chandra Telescope, and COSMOS-2 Planetarium will promote innovative research, experiential learning, and scientific inquiry. For the education sector, these investments are transformative as they strengthen research-led teaching, expose students to cutting-edge scientific environments, and encourage a culture of inquiry, interdisciplinary learning, and innovation across institutions. The allocation of ₹20,000 crores for carbon capture, utilization, and storage research indicates a commitment to the future of sustainability, and the emphasis on assistive technology R&D indicates how innovation can be used to directly improve accessibility, independence, and quality of life ensuring that education and research remain inclusive, socially relevant, and aligned with national priorities,” Vikram Aditya Sahoo, another director of the group said.
