India's national treasury may have lost $210 billion due to sweetheart coal deals between 2004-2009, sparking a major corruption scandal and political uproar.
Budget 2012-13 proposes external commercial borrowing for affordable housing, a Credit Guarantee Trust Fund, and increased Rural Housing Fund provisions. Real estate players express disappointment, citing increased costs from the cement industry tax and service tax hike.
India's real estate prices expected to rise further as Finance Ministry retains 2.5% service tax on under-construction projects, impacting homebuyers.