Laxman Jaiswal, Chairman & Managing Director of Ascon Infra India Ltd, a leading Infra and real estate company of Eastern India expressed his satisfaction on the budget presented by Union Finance Nirmala Sitharaman.
“The Union Budget of 2021 was a step in the right direction with a mammoth outlay on infrastructure development which shall lead to overall development of many industries across India. As an entrepreneur dealing in real estate and infrastructure development I feel this is one of the best budgets presented in recent times. Though I was disappointed with lack of greater incentives for exports which could have been considered also I believe there should have been cuts in the taxes as a relief for citizens facing lack of revenue due to the pandemic. Also I was expecting the Government to introduce incentives for battery operated cars and vehicles as there have been a steep increase in petroleum prices. But on the positive note, undoubtedly 34.5% higher capital budget on infrastructure, more economic corridors is the highlight for me as an Infra entrepreneur.”
“As expected, affordable housing and rental housing got a big boost with the government extending the period for extra deduction of Rs 1.5 lakh available for loans up to March 31 2022. This will keep demand buoyant for affordable housing in 2021 as well,” The increased focus on infrastructure growth and capital expenditure will impact the overall growth of the real estate sector too, “A good infrastructure could propel the development of real estate, both commercial and housing, along the transit corridors, highways and newly-proposed airports.”
The tax holiday for affordable housing shall give fillip to the sector and is a reiteration of the present Government’s commitment towards affordable housing. I also compliment the Union budgets’ stress on stressed asset resolution and proposed setting up of Development Financial Institution. A step in the right directions”, concluded Jaiswal.