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Pre-Budget Expectation : Limit of tax deduction against home loan interest should be increased, keeping in view the rising interest rate. Says Mr. V Swaminathan, Andromeda Loans and Apnapaisa
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Below is Quote On Pre-Budget Expectation 2023 by Mr. V Swaminathan, executive chairman, Andromeda Loans and Apnapaisa
In order to curtail inflation and promote growth, the Reserve Bank of India went on a repo-rate hiking spree in the year 2022. It has hiked the policy rate by 225 basis points since May 2022 and we may expect the central bank to increase the policy rates a few times in 2023 as well.
With the Union Budget 2023 around the corner, the government may introduce conducive measures to provide relief to borrowers. Hopefully the government will consider the long-pending demand to enhance the deduction limit against home loan interest from Rs 2 lakh to Rs 3 lakh.
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