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Below are Views On The government has primed itself to catapult economy By Mr. Rohit Poddar, Managing Director, Poddar Housing and Development Ltd. And Joint Secretary, NAREDCO Maharashtra

“The government has primed itself to catapult economy on a trajectory of a stronger recovery with specific announcements on privatisation, disinvestment and monetization.  A 34% increase in capex and overall no tax hike has boosted the equity market sentiment. The privatization of two public sector banks and one general insurance company will bring a new dimension to the lending construct in the country. For affordable housing, the extension on deduction on payment of interest by one more year will help in offering the much-needed convenience for the home buyer. Affordable housing tax holiday extension up to March 2022 will boost the recent momentum in housing demand. The single registration system for migrant workers is a positive aspect for companies to reduce the hassle and focus on the larger development.  Furthermore, relaxation of tax to NRIs, additional interest deduction on the loans, and no TDS on REITs will potentially help the real estate sector in increasing the liquidity and cash flow. Giving relief to NRIs from double taxation will give a sentiment boost to the real estate sector. Overall, the budget has covered most of the aspects, now we will look forward to the RBI announcement in this week.”

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