Real estate industry has reasons to be optimistic
The first hundred days of any government in power might be too short a time frame to judge success or failure, but it is long enough to assess the direction of policies the government is rooting for. From this point of view, the real estate industry has reasons to be optimistic.
The annual budget itself was an indicator that the government wants to drive growth by investing in infrastructure and housing, and that these sectors are a part of its core game plan to boost economic growth. In the past decade, real estate has not found as much mention in a budget speech as it did this year. Issues of processes, funding and demand remain, but the budget has been able to ring in a sentiment of hope and optimism. The government’s fiscal deficit target for financial years 2015 and 2016 in it should provide confidence to all stakeholders.
The finance minister also mentioned bringing in the Goods and Services Tax later this year, which has been a long pending reform, to rationalize taxes on products and services. Although no specific timeline was set, such reforms will reinvigorate the economy.
Source: Mint
Finance Minister, Goods and Services Tax, Housing, Indian real estate industry, Infrastructure, Real Estate Industry
