India Budget 2018
Year 2018 sees a populist budget presentation by our Honourable Finance Minister, Mr. Arun Jaitley catering to the needs of the common man and the economy. The budget has provided financial allocations in maintaining the Governments larger vision of ‘Building the Nation’ and ‘Housing for All’. The budget’s capital expenditure focussing on key sectors such as agriculture, infrastructure and housing, amalgamate to provide necessary momentum and thrust to the economy. Changes in corporate taxation will incentivise many to invest, and be competitive. Overall the budget creates an environment for inclusive growth, and infuses transparency into the system.
The Real Estate industry was seeking some very important amendments like the industry status, streamlining of taxation norms for REITs, rationalisation of GST, and extension of tax SOPs for SEZ units, which we hope will be addressed soon. Having said that, the progressive nature of the budget has paved way for economic growth, and we look forward to a good year with continuous improvements for the realty sector.
Kishore Bhatija is the Managing Director of K Raheja Corp