By: Anuj Puri, Chairman – ANAROCK Property Consultants
With the Modi Government taking full charge, all sectors have pinned high hopes from the finance minister – who is already saddled with multiple issues including the slowing economy, liquidity crunch due to NBFC crisis, lack of job creation and rising NPAs, among others.
Without compromising on fiscal prudence, the Finance Ministry will have to present a budget that is not only inclusive but also assures growth across industries. It clearly shoulders a considerable share of responsibility for retaining India’s position as the fastest-growing economy.
Since real estate is one of the major contributors to the GDP growth and can help the government resolve the shortfall in job creation quite a bit, it is naturally expected that the upcoming budget will help the industry.
Besides the usual demand for single-window clearance and industry status for real estate projects, what should ideally be included in the budget are further tax sops to homebuyers as well as investors. Both can help the sector recover from its liquidity woes to a large extent. From the builder perspective, their funding issues need serious attention.
Expectations from the Budget
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