Economic Survey 2017 – Sachin Sandhir, Global Managing Director – Emerging Business, RICS

New Delhi, January 31, 2017: “The Economic Survey 2017, talks of several economic reforms including privatising public enterprises, thus setting the mood for the Union Budget 2017 to be tabled in the Parliament tomorrow. India’s growth indicators seem to be strong though demonetisation has had a slight impact on growth numbers. GDP growth in 2016-17 is expected to decline to 6.5% from 7.6% in last fiscal.The survey pegs economic growth at 6.75-7.5% in 2017-18, which we believe is still a good growth rate. We agree that demonetisation will have long-term benefits especially for the real estate which sees a lot of cash transactions especially in the resale market. We believe that over a period of time, cash transactions in the real estate sector will reduce. This will make the industry more transparent and will help the sector in attracting foreign investment. We are also glad that the survey recognises the potential of property tax as a source to generate additional revenue at city level.”

Corporate Comm India(CCI Newswire)