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Below the Quotes on Pre-budget expectations of the Industry leaders : Mr. Ajay Chaudhary, Ace Group,Mr. Arjunpreet Singh Sahni, Solitaire Group Mr. Manoj Gupta, Fortune, Mr. Sumit Arora, Alniche Lifesciences, Md.Sharique Khan, ArEx Laboratories, Mr. Rajinder Kaul, Sharika Enterprises, Mr. Anish Bansal, Hi-Tech Pipes Limited,Dr. Sanjay Gupta, Ramagya Group    

On behalf of Mr. Ajay Chaudhary, CMD, Ace Group, please find below expectations from the upcoming Interim Budget 2024 for your kind perusal:  "Being the second-largest employment generator after agriculture, the real estate sector plays a crucial role in the country's economy. It is imperative for the government to address the long-pending demand of granting 'Industry' status to the real estate sector in the upcoming Interim Budget 2024. Such a move would not only acknowledge the sector's contribution but also enable it to attract equity investment for refinancing debts and secure loans at lower interest rates, thereby fostering sustainable growth. This step is essential to fulfill the sector's potential as a key driver of economic development and employment generation in the nation. Additionally, we expect the government to introduce policies that streamline regulatory processes, further boosting investor confidence and facilitating industry growth."

On behalf of Mr. Arjunpreet Singh Sahni, Executive Director, Solitaire Group please find below budget expectations for your kind perusal: "The real estate sector has experienced a positive surge in property sales in 2023, indicating growing confidence in both residential and commercial segments. However, to sustain this momentum, the upcoming Interim Budget 2024 needs to introduce measures that further stimulate growth. Expanding the deduction available for home loans under Section 24(b) to Rs. 5 lakhs would be a significant step, encouraging more middle-class homebuyers to invest in real estate and fulfill their dream of homeownership. Additionally, a reduction in GST on raw material procurement for construction activities is crucial to make housing more affordable."

On behalf of Mr. Manoj Gupta, Managing Director, Fortune Marketing: "The upcoming interim-budget 2024 should prioritize digital infrastructure, new-age technologies, and skills development. India's rapid growth in the IT and ITes industry calls for a future-oriented approach with increased investment in innovation and R&D to stay competitive globally."

 On behalf of Mr. Sumit Arora, Director of Alniche Lifesciences: "The upcoming interim budget 2024 should outline conducive policies that facilitate ease of doing business for the pharma companies simultaneously with its focus towards establishing Centres of Excellence to promote research in the pharma sector. The budget should also provide fiscal incentives and bring tax reforms to boost investment and collaborations in the sectors."

 On behalf of Md.Sharique Khan, Sr. Vice President-India Formulation Business, ArEx Laboratories: “We hope the upcoming Interim Budget 2024 to include increased funding for healthcare and regulatory reforms to make healthcare more accessible in the country. In addition to address India's current healthcare requirements, the budget needs to have streamlined regulations and it should also have measures to promote domestic manufacturing. Research and Development in Pharma segment should also be promoted with ample budgetary allocations.”

 On behalf of Mr. Rajinder Kaul, Chairman & Managing Director of Sharika Enterprises:  "As India has rapidly emerged as a strong force across all sectors of the economy, including the Power sector, we hope that the honourable Finance Minister, Ms. Nirmala Sitharaman, will focus on revitalizing infrastructure development and technology adoption in the power industry in the upcoming budget. With the Indian power sector maintaining a high growth momentum, its future looks promising, and we anticipate the budget to further fuel its sustained growth through appropriate provisions."

 On behalf of Dr. Sanjay Gupta, Chairman, Ramagya Group: “The evolving nature of India's education sector is closely linked to technological progress, so there’s an urgent need for the Interim Budget 2024 to prioritize investments in digital infrastructure and modern technologies. Additionally, the importance of investing in skills development to keep pace with India's rapid expansion in the IT and ITes industry is urgent. Overall, in this budget, a forward-looking strategy is required that includes greater investment in innovation and research and development (R&D) to ensure India's continued global competitiveness.”

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