Post Budget reaction – Mr. Kamal Singal, MD & CEO, Arvind Smartspaces

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New Delhi, February 04, 2020: The union government has come up with a balanced budget focusing on addressing key challenges faced by the country without undertaking any significant fiscal trade-off. Several initiatives have been announced on areas such as agriculture, rural demand, healthcare, MSMEs, entrepreneurship/ start-ups, infrastructure which are likely to boost the overall economy of the country. Removal of DDT and full tax exemption on income by sovereign funds in infrastructure will increase funding and growth in sectors such as infrastructure.

The reduction in personal income tax slabs will lead to more expendable income in the hands of the middle class likely contributing towards revival in consumption demand. On real estate sector specifically, the announcements on extending interest exemption on affordable housing and extending the window for approval of affordable housing by one more year will provide impetus to the affordable housing segment. The increase in deviation limit from circle rates for real estate transactions from current 5% to 10% will remove inconvenience faced by buyers/ sellers of real estate and provide further relief to the real estate sector.”

Corporate Comm India(CCI Newswire)