Budget reaction form Mr. Neeraj Gulati, MD, Assotech Realty Pvt Ltd
"The budget has provided the much awaited relief to the real estate sector. The sector has been looking at the Union budget as the game changer and it has introduced recommendations in the right direction. Policy changes throughout 2016 have been helpful in making real estate a more transparent as well as a stronger sector. Giving infrastructure status to affordable housing is a welcome move and is likely to result in increased participation from private players and improve capital inflow. Apart from that, National Housing Board (NHB) will also refinance individual loans worth 20000 crore in 17-18 offering capital relief to the lenders. With the lending rates already low, providing tax sops to smaller businesses will also augment the purchasing power and is a welcome step for the real estate sector. Reducing tax slab of individuals will also propel investment in the sector.” says Mr. Neeraj Gulati : Managing Director - Assotech Realty (P) Ltd.
Fintech Startup SpiderG's reaction on Union Budget 2017
Ashwani Rathore, Co-Founder & CEO, SpiderG:
“We welcome this Union Budget 2017 which will pave the way for rural digitization. Taxation reforms for startups and other small or middle-sized businesses will boost entrepreneurship with more startups coming into the market. Incentive boost for startups from 3 out of 5 years to 3 out of 7 years is a welcome move. Announcement of reducing Corporate Income Tax for medium and small-scale enterprises by 5 percent states that how MSME sector is now commanding control over the financial growth and this budget will encourage MSMEs for their further growth. Abolishment of The Foreign Investment Promotion Board (FIPB) and announcement of introduction of major reforms for the Foreign Direct Investment (FDI) policy will make it easier for investors to invest money. Announcement of strengthening the digital economy will boost the online transitions. Announcement of Aadhar Pay facility for those who are not using credit cards/debit cards, mobile phones and computers is good initiative to push digital economy into the rural India. Shift to digital platforms will benefit the common man. With focus on technology and cashless economy I can see more startups coming into SaaS and Fintech domain. In a nutshell this budget will give push for the Digital India and cashless economy.”
Budget Reaction 2017- 18 from Vihaan Network Ltd
Budget Reaction from Vishvaraj Infrastructure Ltd Chairman and Managing Director Mr. Arun Lakhani
“A big infrastructure push along with a substantial hike in provisions for the National Highways in the Union Budget for 2017-18 is a major takeaway and I congratulate the Finance Minister for the growth oriented approach. A 25% higher capital expenditure is sure to give the economy a big growth momentum. Priority to doubling of farm income and rural development makes it a balanced and inclusive budget.
The focus on rural sector, large allocation of Rs 3.96 lakh crore for infrastructure development and social spending are welcome moves. New dispute resolution mechanism for quick dispute settlements and abolishing FIPB will improve the ease of investing in India along with the push on digital that will bring in efficiency and eradicate corruption. Addressing arsenic and fluoride menace in 28,000 villages gives the budget a human touch while reducing corporate tax rate by 25% for MSME and the move to curb cash donations for political funding are very good moves.”
"The budget presented today focusses on ramping up spending on infrastructure, provides the necessary impetus to Housing for All program and continues the structural reforms initiated couple of years ago. The agenda of Transform, Energise & Clean India , shall improve the quality of governance & quality of life. The move from discretionary administration to policy based administration is visible in the budget proposals.
The long-standing demand from real estate industry saw the light of the day, with affordable housing segment getting the Infrastructure status. This, along with increased allocations under NHB and PMAY-Gramin, will enable larger funding available to Home buyers & Developers, at a lower cost and also make the sector eligible for various incentives. Proposals like reduction of holding period for the purposes of long term capital gains tax from 3 years to 2 years, changing the base rate of indexation to 1.4.2001, shall provide the necessary respite to the property owners and also making property an attractive investment option.
Being one of the largest employers in the economy and contributing 6% of the GDP, the revival of real estate sector needs continued support with more such measures, which will also have a multiplier effect on various sectors that provide material & equipment for construction & development."
"The budget has provided the much awaited relief to the real estate sector. The sector has been looking at the Union budget as the game changer and it has introduced recommendations in the right direction. Policy changes throughout 2016 have been helpful in making real estate a more transparent as well as a stronger sector. Giving infrastructure status to affordable housing is a welcome move and is likely to result in increased participation from private players and improve capital inflow. Apart from that, National Housing Board (NHB) will also refinance individual loans worth 20000 crore in 17-18 offering capital relief to the lenders. With the lending rates already low, providing tax sops to smaller businesses will also augment the purchasing power and is a welcome step for the real estate sector. Reducing tax slab of individuals will also propel investment in the sector.” says Mr. Neeraj Gulati : Managing Director - Assotech Realty (P) Ltd.
Fintech Startup SpiderG's reaction on Union Budget 2017
Ashwani Rathore, Co-Founder & CEO, SpiderG:
“We welcome this Union Budget 2017 which will pave the way for rural digitization. Taxation reforms for startups and other small or middle-sized businesses will boost entrepreneurship with more startups coming into the market. Incentive boost for startups from 3 out of 5 years to 3 out of 7 years is a welcome move. Announcement of reducing Corporate Income Tax for medium and small-scale enterprises by 5 percent states that how MSME sector is now commanding control over the financial growth and this budget will encourage MSMEs for their further growth. Abolishment of The Foreign Investment Promotion Board (FIPB) and announcement of introduction of major reforms for the Foreign Direct Investment (FDI) policy will make it easier for investors to invest money. Announcement of strengthening the digital economy will boost the online transitions. Announcement of Aadhar Pay facility for those who are not using credit cards/debit cards, mobile phones and computers is good initiative to push digital economy into the rural India. Shift to digital platforms will benefit the common man. With focus on technology and cashless economy I can see more startups coming into SaaS and Fintech domain. In a nutshell this budget will give push for the Digital India and cashless economy.”
Budget Reaction 2017- 18 from Vihaan Network Ltd
Budget Reaction from Vishvaraj Infrastructure Ltd Chairman and Managing Director Mr. Arun Lakhani
“A big infrastructure push along with a substantial hike in provisions for the National Highways in the Union Budget for 2017-18 is a major takeaway and I congratulate the Finance Minister for the growth oriented approach. A 25% higher capital expenditure is sure to give the economy a big growth momentum. Priority to doubling of farm income and rural development makes it a balanced and inclusive budget.
The focus on rural sector, large allocation of Rs 3.96 lakh crore for infrastructure development and social spending are welcome moves. New dispute resolution mechanism for quick dispute settlements and abolishing FIPB will improve the ease of investing in India along with the push on digital that will bring in efficiency and eradicate corruption. Addressing arsenic and fluoride menace in 28,000 villages gives the budget a human touch while reducing corporate tax rate by 25% for MSME and the move to curb cash donations for political funding are very good moves.”
Budget Reaction from Mr Sanjay Malhotra, CEO, Emaar India
"The budget presented today focusses on ramping up spending on infrastructure, provides the necessary impetus to Housing for All program and continues the structural reforms initiated couple of years ago. The agenda of Transform, Energise & Clean India , shall improve the quality of governance & quality of life. The move from discretionary administration to policy based administration is visible in the budget proposals.
The long-standing demand from real estate industry saw the light of the day, with affordable housing segment getting the Infrastructure status. This, along with increased allocations under NHB and PMAY-Gramin, will enable larger funding available to Home buyers & Developers, at a lower cost and also make the sector eligible for various incentives. Proposals like reduction of holding period for the purposes of long term capital gains tax from 3 years to 2 years, changing the base rate of indexation to 1.4.2001, shall provide the necessary respite to the property owners and also making property an attractive investment option.
Being one of the largest employers in the economy and contributing 6% of the GDP, the revival of real estate sector needs continued support with more such measures, which will also have a multiplier effect on various sectors that provide material & equipment for construction & development."