Revival of investment in the industrial sector is always a key challenge; however, the Union Budget 2013-24 has added drum beats of hope.
As the Union Budget nears, the whole industry is eager to see how the Finance Minister keeps his promise that he has been making all this while, promising rating agencies and investors outside the country on the fiscal deficit.
Industry leaders react to Pranab Mukherjee’s Union Budget 2012-13
FM has demonstrated the in-principle acceptance for moving towards unified GST by standardising the tax rates across the spectrum of services.
We as the umbrella body of real estate in the country feel disappointed by the unyielding measures taken by Mr. Finance Minister in the Union Budget of 2012-13.
With high borrowing rates and declining sales, the extension of 1% interest subvention scheme for affordable housing is the positive measure for the realty sector.
The Union Budget has been a disappointment for the wind energy sector at a time when the wind energy was generating a sizable share of 5%t of electricity at the all India level.
FM’s move to allow ECB for developers engaging in value housing has pleasantly surprised the sector.
This union budget has focused on affordable housing by allowing ECB for low cost affordable housing projects and setting up credit guarantee trust that will give better capital availability for developers of low-cost housing.
The relaxation of ECB norms will certainly boost investments in the affordable housing sector, thereby, help to meet the acute housing shortage.