Post Budget Experts Reactions
Jaijit Bhattacharya, Chair, policy working group, IET FoMT Panel & President – Centre for Digital Economy Policy Research & Adjunct Professor, IIT Delhi
“Very comprehensive budget with deep structural reforms laid out, that is the need of the hour. Heartening to see continued focus on social safety net in both urban and rural areas and new focus on extending pension to small shopkeepers. The continued focus on public spending, including USD 1.5 t on infrastructure over 5 years and housing, would help get the economy on track to become a USD 5 trillion economy in 5 years. The special focus on electric mobility is most welcome and will surely give a fillip to faster electrification of transportation.”
Sachchidanand Rai, Chairman – Eden Realty Group
“This budget is based on the philosophy of reform, perform and transform. Naturally, the focus is more on rural economy, women, youth and infrastructure. Special sops to buyers of affordable housing units of up to 45 lacs will give boost to housing sector in the short term.”
Nakul Himatsingka, Managing Director, Ideal Group
“The government continues to tread on its stated path. The increase in the limit on interest deduction on affordable housing should give a boost to that sector.”
Rishi Jain, Managing Director, Jain Group
“The message of the new FM and indeed the Modi 2.0 government is very clear: Make housing affordable and make only affordable housing. Our developer fraternity needs to understand and appreciate the same. The writing on the wall is that super rich and those in the highest tax brackets should not expect any sops and in fact should cross subsidise the poor. The government is not Anti Rich, but they expect the Rich individuals and corporations to be pro poor. The budget signals the foundation of a truly balanced and self-disciplined society. The boost in affordable housing tax benefit and startup valuations relief is commendable as well. It shows that this is a feedback oriented budget.”
Sanjay Jain, Managing Director, Siddha Group
I would like to congratulate the Honourable PM Narendra Modi and FM Nirmala Sitharaman for Budget 2019-20. The full budget presented by FM Nirmala Sitharaman as the first budget of Modi Sarkar 2.0 will give a significant boost to the economy. Keeping in mind the real estate industry, this budget looks hopeful for both real estate developers and home buyers. Tax rebates & interest on housing loan in the affordable housing sector will attract more home buyers. Rental Housing promotion is another advantage to the industry. I am really happy with the better credit tenure by NBFCs as this will benefit the real estate developers. The housing sales is also aimed at getting higher with the increase of carpet area limit.
Abhishek Bhardwaj, Chief Marketing Officer, Shristi Infrastructure Development Corporation Ltd.
The Union Budget 2019-20 has laid major impetus on reforming the economy. A pro-development budget focusing on youth empowerment and infrastructure development, the Modi 2.0 Government’s announcement of increasing the limit on interest deduction on affordable housing, is surely going to promote the affordable housing segment.
B L Mittal, Founder and Executive Chairman, Sastasundar.com
The Union Budget 2019-20 is a progressive budget. It lays the foundation for growth and equality. The budget clearly shows the way forward for a transparent economy.