Budget 2018 India
Focus On Smart City Is Need Of The Hour
The allocation of 2.04 Lakh crore for the Smart City Mission will add momentum of our cities turning more efficient in usage of energy. Accelerating these flagship schemes is stepping the pedal on the pace of sustainable urbanisation and larger economic growth.
-Prakash Chandraker, vice president & managing director, Energy Business, Schneider Electric
Budget Takeaway: Focus On 'Ease Of Living'
Finance Minister Arun Jaitley has managed to balance populist demands, the need to support economic growth and Prime Minister Narendra Modi's focus on fiscal discipline and reforms.
-Dr Niranjan Hiranandani, president, NAREDCO
Affordable Housing Fund Creation A Big Move
Affordable Housing continues to get preferential treatment given the 'Housing for all' agenda. Creation of the Affordable Housing Fund will certainly ease the funding gap. While providing a safe harbour is a welcome move for property transactions, the margin of 5% may not serve the purpose. REIT investors would have to now factor LTCG tax while evaluating investment opportunities which would increase their return expectations.
-Bhairav Dalal, partner - Real Estate Tax, PwC India
PM Modi Hails Budget 2018
Taking Focus is on ease of living as well as ease of doing business.
Education Cess To Be Replaced
Education cess of three per cent to be replaced by health and education cess of four per cent.
Govt To Reduce Hardships Faced In Realty Deals
No adjustment to be made in case circle rate does not exceed 5 per cent of sale consideration
Relief For Salaried Class
Standard Deduction of Rs 40,000 introduced for salaried taxpayers. Standard deduction to benefit pensioners also. Standard deduction of Rs 40,000 allowed for transport, medical reimbursement for salaried taxpayers. Govt has made many positive changes in the personal income tax rates applicable to individuals in the last three years, therefore, I do not wish to make any changes to this. Around Rs 8,000 crore revenue lost due to standard deduction allowed to salaried employees
Demonetisation Celebrated As Imandari Ka Utsav
Number of tax payers has increased after govt launched anti-evasion measures. Effective tax payers now 8.27 crore. Excess revenue collected from personal income tax amounts to 90,000 cr
We have exceeded our disinvestment target this year to Rs. 80,000 crore for 2018-19. Around 24 Public Sector Units to be divested.
Railway Stations To Be Modernised
Wifi, CCTVs to be progressively provided in all trains; Escalators at stations with 25,000-plus footfall 36,000-km of rail track renewal targeted in coming year, says FM
FM call cryptocurrency illegal. Government to take all steps to eliminate use of cryptocurrencies
Big Boost To Infrastructure
National Highways exceeding 9,000-km will be completed in 2018-19. Govt to construct tunnel at Sela Pass in Arunachal Pradesh. Mumbai transport system to be expanded. System of toll payment by cash being replaced by electronic payments
From Hawai Chappal To Hawai Jahaj
UDAN to connect 56 un-served airports and 31 un-served helipads. Govt to expand the capacity of airports by five times to cater to one billion trips a year.
99 Smart Cities Selected
Govt identifies 115 "aspirational districts" to make them model districts of development Rs 2.04 lakh cr to be spent on smart cities
Infra Is Growth Driver Of Economy
Infra is growth driver of economy, we need massive investment. We have made an all-time high investment in rail and road sector. PM personally reviews the progress of infra projects. Have scaled new heights in road development. Around Rs 50 lakh cr needed for infrastructure building
Employment Generation At The Core Of Policy Planning
Around 70 lakh formal jobs being created this year. In the last 3 years, number of steps for generation of employment taken.
Jaitley 'looks East' in Budget 2018-19
FM allocates Rs 1,290 crore to promote bamboo sector, calling bamboo the green gold.
Housing For All
Around 1 crore houses to be built under Pradhan Mantri Awas Yojana in rural areas.Govt to establish a dedicated affordable housing fund under National Housing Bank for priority sector lending
Focus On Swachh Bharat Mission
Target to build 2,000 crore toilets in next fiscal. Over 6 crore toilets have been built under Swachh Bharat Mission.
Coming Soon: Dedicated Affordable Housing Fund
We are helping the poor to have a roof over their head through Pradhan Mantri Awas Yojana.
Arun Jaitley On Delhi Air Pollution
Special scheme to address air pollution in NCR region. Special scheme to support efforts of Haryana, Punjab, UP and Delhi to tackle air pollution through use of in-situ machinery for disposing crop residue
Arun Jaitley On Infrastructure For Farmers
Our government will develop and upgrade rural haats into gramin agriculture markets. Infrastructure will be provided through schemes like MNREGA.
Rs 2 Billion Fund For Infra Connectivity
Infrastructure connectivity to hinterland important. Fund with a corpus of Rs 2 billion proposed for infra connectivity for the agriculture sector.
Introduction Of GST Has Made Indirect Tax System Simpler
When our govt took over India was considered one of the fragile five economies of the world; we have reversed it; India is today fastest growing economy. Demonetisation has reduced cash in economy, promoted digital transactions.
Indian Economy Is Now $ 2.5 Trillion Economy
Indian economy is expected to become the fifth largest economy very soon. IMF has projected India will grow at 7.4 per cent next year. We are set to achieve high growth.
FM Begins Budget Speech
Union Cabinet Approves Budget For FY19
FM Could Provide Relief To Homebuyers
The FM could provide respite to homebuyers by making changes in deduction of home-loan interest paid from income. The most important change will be to raise the cap from the current Rs 2 lakh to Rs 3 lakh.
Arun Jaitley To Deliver Budget Speech In Hindi
Jaitley will become the first Union FM to deliver the Budget speech in Hindi. The main idea is to establish a direct connect with the rural populace.
Jan 31st, 17:15
Govt Should Focus On Ready-To-Move Properties
Real estate sector experienced many jolts in the year 2017. The real estate regulatory act (RERA) came into force in May 2017 seeks to protect the home-buyers, as for 2018-19 Budget the entire sector expects transparency, accountability and to increase investor confidence in real estate market in long run. In the same year the GST was also implemented, which replaced multiple taxes. To further promote the sector incentives should be given to the first-time homebuyers which will definitely promote the real estate segment, in the long run. Focus should be given for the supply of ready-to-move-in properties as the developers are seen focusing on completing their existing projects.
-Ssumit Berry, managing director, BDI Group
Jan 31st, 17:00
Bring Down GST Rate On Under-Construction Properties
The sector's biggest expectation from this Budget would be addition of the sector in entirety under the GST regime and also, the current GST rate should be lowered down to eight per cent. This is because homebuyers are postponing their buying decision till the project is not fully complete as the GST is valid only for under-construction properties. Second element that need to ponder is that the Centre should make some norms that can facilitate 100 per cent foreign direct investment (FDI) for affordable housing as it is the need of the hour. Third, the construction loan should be given at a cheaper cost to developer for smooth functioning and delivery of projects.
-Dharmesh Jain, chairman and managing director, NIRMAL
Jan 31st, 16:45
Budget 2018: Housing Ministry Wants FM To Shower More Funds
Jan 31st, 14:20
Increase Area Limit For Affordable Housing, Reduce Current GST Rate
For the benefit of the developers, who are suffering from money crunch, the government must provide tax deduction even during construction period and not only on completion of property.
-Ankur Dhawan, chief investment officer, PropTiger.com
Jan 31st, 14:05
Increase Area Limit For Affordable Housing, Reduce Current GST Rate
There are two main pre-budget expectations. The first one is that presently the affordable housing category is limited upto 60-sqm area only, this area limit should be increased so that the MIG category housing can also come under the affordable housing category. The second main pre-budget expectation is to reduce the current GST of 12 per cent to six per cent.
-Parveen Jain, CMD, Tulip Infratech
Jan 31st, 11:55
Budget 2018: The Housing and Urban Affairs Ministry has sought over three-fold hike in the allocation of funds for the PMAY (U). The ministry had proposed Rs 20,000 crore for financing of the scheme.
Jan 31st, 11:20
Jan 30th, 16:40
Budget Expectations 2018
In 2018, we look forward to a budget with amendments that will boost growth of the economy and that of the realty industry. Certain key areas like industry status to the full real estate industry, streamlining taxation norms for REITs, rationalisation of GST, stamp duty reduction/uniformity and implementation of single-window clearance need to be addressed.