NEW DELHI (INDIA): India’s Finance Minister Arun Jaitley is all set to present the Union Budget for 2017-18 on 1stFebruary.This would be his third full-year Budget. So all eyeballs on his briefcase, what Jaitley is going to present for India.
Lets go through The Wadhwa Group’s pre-budget expectations from Jaitley.
Given that the IMF has recently cut India’s growth estimate for 2016-17 to 6.6% from its earlier projection of 7.6% due to the impact of the government’s move to scrap some high-value currency notes, the real estate industry at large will keep a close watch for the Union Budget presentation with guarded caution. However, as an organization, we have always supported positive reforms and progressive policy implementations for the sector, thereby boosting market sentiments and the economy. While demonetization has had its effects, we are optimistic about amendments and addressal of certain key areas such as:
· Implementation of GST with a more unified taxation
· Clarity on the land acquisition policy
· REITs to get activated soon
· Implementation of policies that bring in transparency into the sector like RERA and Benami Transactions Bill
· Make housing affordable by reducing the cost of finance for both developers and buyers
Girish Shah- Director, The Wadhwa Group