Post budget quote from Magicbricks.com
post budget quote from Ms. Jayashree Kurup, Head of Content & Advisory- Magicbricks.com
Affordable housing being given Infrastructure status is a welcome move and will help in the Housing to all by 2022 mission – it is a big and positive move for developers, banks and housing finance companies.
Special funds under Pradhanmatri Awas and refinancing by NHB will help more developers to enter the sector and to boost affordable housing for a large number of home buyers.
The one year rental tax relaxation for new properties with occupancy certificates will help developers use the year to sell off the stock which can be held as stock in trade. The taxation on vacant residential property is likely to bring down the number of vacant housing units across the country by unlocking them for rental housing.
The budget fine print indicates the biggest tax arbitrage via setting off loss from second home has now gone away. However the effect of this is not so positive for the individual buyer. Earlier an individual could buy a second home on mortgage and show a loss via differential between interest paid on mortgage minus rent received from the property. The loss could be adjusted against income from salary or other income. Now the adjustment has been restricted to INR 2 lakh only, which is miniscule for individuals with high income. The provision is negative for real estate sector as it may discourage investment in second property to save tax, especially by salaried class.
The government’s focus on developing multimodal infrastructure including rail, roads, ports, airports and waterways will not only help to decongest urban areas but also help in the development of new industrial cities around our industrial transport corridors.
Affordable housing area criteria based on carpet area instead of built-up area will give buyers the benefit of larger units within the same 30 and 60 sq m units.
Rural housing has got a big boost this year which should stem the influx into cities. ”
Post Budget Reaction: Talentedge Ed-Tech firm
Mr Aditya Malik, CEO & MD, Talentedge
“The Union Budget has given major attention to skill and vocational training. We support the government’s call to acknowledge the importance of skill learning and the allocation of Rs. 2,200 Crore towards skill strengthening. The need of the hour is to focus on youth and provide them with opportunities that will help them grow their skills and in turn contribute back to the development of the country. Imparting education through digital is the future of education and we strongly believe that this will build the efficacy in the education system; making it more learner-centric”
About Talentedge
Talentedge is an Ed-Tech firm. We are the first to bring ‘Live & Interactive’ anywhere learning in digital format. Talentedge offers courses jointly with world leading institutes and corporates. We enable working professionals to plan their future course of action and fast-track their careers.
Talentedge partners with top Indian & International institutes including IIT, IIM , MICA, XLRI, Parsons School of Design, Jack Welch Management Institute (JWMI) and also with renowned corporates like OLX, Viacom 18, Wizcraft, Society of Human Resource Management (SHRM)and others.
Our ability to recreate classroom type interactions in the virtual world has struck a chord with over 3,00,000 individuals and corporate learners. We initiate industry relevant learning by bringing eminent subject experts into online education. Talentedge is one of the first Ed-Tech organizations to be credited with an ISO: 9001-2008 certification.
For additional information about Talentedge, visit: www.talentedge.in
Post Budget Reaction from Mr. Vikas Khanvelkar, Managing Director, DesignTech Systems Ltd.
1. No bad news is good news in this budget. There is no increase in service tax and Income tax. So that is a good news.
2. Reducing the corporate income tax to 25 % for MSME having revenues upto Rs 50 Crores will help MSME sector which is under challenging pressure to grow.
3. Increase in expenditure in Infrastructure projects will boost growth and will create more employment which government is aiming to achieve.
4. Reducing the IT slab from 10 % to 5 % for income upto Rs 5 lacs and simplifying the IT return form for them to one page is a relief to those people.
5. Encouraging digital and cheque payments and restriction on cash payments beyond Rs 3 Lacs will help curb black money.
6. Restricting the cash payments to political parties to only upto Rs 2000 will bring more transparency.
About DesignTech Systems
DesignTech Systems Ltd. is a leading CAD / CAM / CAE / PLM Solutions, Additive Manufacturing technologies, and Engineering Services provider from India. With more than 18 years of experience they have been working with companies from cross vertical domains in India and overseas to support clients in their most complex and challenging engineering initiatives while helping them derive best returns on their investments.
DesignTech Systems is the only Platinum Partner for Siemens PLM Software in India, and have also forged strategic tie-ups with global leaders such as Altair Engineering for their HyperWorks suite of solutions, Stratasys 3D Printing Technology, ESI Casting and Welding Simulation software, MathWorks for MATLAB and SIMULINK, SLM Metal 3D Printing technology, and Solidscape high precision 3D Printing solutions.
Moreover, DesignTech Systems is also the recipient of some of the prestigious awards such as Maharashtra Government IT award in 2010, has been adjudged among the top 50 emerging companies in India by NASCCOM in 2010 and many more. CRISIL has accorded DesignTech the rank - MSE 2 which stands for “High credit worthiness in relation to other MSEs”. Education and training wing of DesignTech Systems, “DesignTech CAD Academy” is an authorised training partner of Siemens and Altair for their PLM and CAE suites of solutions respectively, imparting training to the working professionals and students alike on the latest version of licensed software under the mentoring and supervision of certified trainers.
Union Budget Reaction from Skillsoft
Technologies for Skills Development
Vinay Pradhan, Country Manager- India, Skillsoft : “The Finance Minister’s announcement to set up skill centers across the country to help youth seeking opportunities outside the country is much appreciated. However, to achieve this proposal, the government cannot solely rely on traditional methods to develop skills. Instead, it should collaborate with the private sector to establish a robust technological infrastructure for learning and skill development. With this partnership, the youngsters, both working professionals and students in educational institutes, can have access to cost-effective self-education programs at the skill centers that have been proposed in Budget 2017.”