As reserve bank of India reduces the interest rate, Honorable finance minister jaitley said that if Modi becomes prime Minister again still the interest rate will be reduced.
Jaitley said that modi’s govt corners the development of middle class people, so only in last 5 years this govt didn’t increase the tax.
Also jaitley noted that during former Prime minister Vajpayee’s period the home loan interest has been reduced lower than the monthly rent. Like the same if next 5 years will be ruled by Modi as Prime Minister then the maximum middle class people’s home dream will become true.
Also former PM Vajpayee introduced the income tax deduction in lieu of interest payments on home loans, which lowered the cost of borrowings.
Jaitley also added that low interest rate will make borrowings very cheaper , future Indian economy growth is based on the development of middle class and neo-middle class