Views of M. Murali, Managing Director, Shriram Properties on Union Budget 2017 -18

New Delhi, February 02, 2017: I would say,this a well balanced, mixed and a progressive Budget coming in the wake of series of reforms which aimed at increased transparency, elimination of corruption and growth of digitalisation. The budget reflects the efforts of the Government to continue the reforms, yet, keeping in mind the welfare of the weaker section of the society. Focus on farmers and rural spending to encourage rural employment is most welcome, as India being basically an agrarian economy.

The budget shows that we are on path of fiscal consolidation –fiscal prudence without compromising on public spending -with Fiscal deficit pegged at 3.2%. Infrastructure allocation of 396000crs shows the concern of the Government for suffering infrastructure development in the country.

Granting infrastructure status to affordable housing will provide a big boost towards accomplishing Housing for All Mission.There shall be considerable increase in volume of construction activities across the country. Other reliefs in terms of project construction period, tax reliefs, definition of affordable housing size will also go a long way.

Proposal to build 1 Cr houses to people who live in Kuttch a environment is not only a big social step to address the problems of the urban poor but also an economic step in as much as housing development sector in India is always employment and jobintensive.

Corporate tax sobs for MSMEs will help large number of small corporates to enhance their level of operation and activities. MSMEs,is thus encouraged to come into the formal sector .Decision to abolish FIPB is positive step to ease foreign investment. Change capital gain norms is another booster for real estate investments.

Focus on greater stability for financial sector is an another welcome move. New laws to confiscate assets of loan defaulters /economic offenders is a big step forward although the success will depend upon the implementation.

It is heart warming that‘ Honouring the Honest’ is the theme of not only the Budget but also of the Government.Over all,the budget provisions prove the objectives of the Government–namely, “Transform,energise and clean India”.

Corporate Comm India(CCI Newswire)