New Delhi, July 03, 2019: During its last tenure, the Government had swiftly pushed several reforms which will eventually prove to be positive for the economy in the long run. The outlook on India’s economic growth in the coming years looks very positive with the Government renewing its tenure for yet another time. The upcoming budget needs to be more attractive to foreign investors as it will be an ultimate platform to announce further incentives which will attract more foreign investments into the sector.
Considering the rupee’s recent weak performance, this budget is an ideal time for reforms targeted at foreign inflows into India.
We expect the government to reduce the tax on interest income which will help accelerate capital inflows to India. Liberalizing foreign investment norms in real estate is another widely expected move.
Besides a few shortcomings, REITs as an investment tool is an asset for the entire real estate sector in India. Easing the taxation norms for REITs will benefit the entire sector by the large bandwidth of investors.
Real estate acts as a major growth driver for the Indian economy. The government must announce encouraging moves that can further attract foreign investments into the sector and help in huge employment generation.
Corporate Comm India(CCI Newswire)
