Budget 2018: On February 1, date of budget 2018, Modi government will announce the much-anticipated union budget. This will be the fifth common man’s budget under its tenure and will be presented by the finance minister Arun Jaitley.
Budget 2018: On February 1, date of budget 2018, Modi government will announce the much-anticipated union budget. This will be the fifth common man’s budget under its tenure and will be presented by the finance minister Arun Jaitley. While many industries have already given Modi government for their budget recommendations, real estate tycoon and NAREDCO chief Niranjan Hiranandani also came forward to present his budget recommendations for the common man budget 2018 to the Narendra Modi government. Hiranandani talks about factors that can ensure that India’s home seeker get their ‘dream home’. Hiranandani talks about the size of real estate sector and its contribution to the economy. He said that even after being the second largest contributor to the Indian economy (as per the report released by India Brand Equity Foundation), real estate sector has not yet received the industry status. Hiranandani said that the real estate sector contributes to over 15 per cent of India’s GDP directly or indirectly. Here’s what NAREDCO president Niranjan Hiranandani has to recommend about the budget 2018.
Budget recommendation 2018 to Rekindle Indian Real Estate:
The real estate sector has been at the forefront of the Indian Governments agenda given its potential to propel economic growth significantly. It is imperative that this sector gets due weight in the upcoming union budget 2018 for policies and incentives that enhance the development of the sector. I would look upon the forthcoming budget to take things to the next level – so that several initiatives which have become ”Walk the Talk”, get expedited and become a reality faster – and ensure that India’s home seeker get their ‘ dream home’
Being the second largest contributor to the economy (as per the report released by IBEF), the recent regulatory framework set up aims better transparency, allowing only the players with integrity to sail through. Against this backdrop, the Union Budget 2018-19 is looked upon for reforms in the tax arena in the form of tax incentives and rationalization of certain provisions of the Income-tax Act, to foster better growth of the sector and help in reducing the demand-supply gap.
source : financialexpress