“The budget presented by the Finance Minister is good for the Indian economy. We appreciate the decision of Finance Minister to continue the stimulus package. The budget is focused on the overall infrastructural development of the country including the rural sector. But the Finance Minister has not considered the real estate sector’s major recommendations such as status of infrastructure to the industry, extension of tax exemption/tax rebate under section 80 IB up to March 2011, ECB for real estate etc. This would have helped the country to focus on meeting the housing shortage in the country as well as improving the overall GDP of the country.
Further, we had recommended that the central support under Rajiv Awaas Yogna should be passed to the party who is executing the project under PPP instead of passing the benefits to the state Government/agency which has also not been considered.”
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