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A Fruitful budget for the healthcare, education, travel sector

Mr. Kamal Khetan, Chairman and Managing Director, Sunteck Realty Ltd said, “The union budget predominantly focussed on revitalising the affordable housing which is an attempt to revive the animal spirit in the real estate market. In order to meet the ‘Housing For All by 2022’ and stimulate homebuyer’s sentiment, there is a direct intervention through one year extension on exemption of additional interest deduction of Rs. 1.5 lakh for home buyers under the affordable housing sector. Additionally, extending the tax holiday on the profits of developers involved in affordable housing projects to March 2021 is a huge support to de-bottleneck issues surrounding the affordable housing segment. It will provide an impetus to the sector for creating more demand for MIG and LIG group of homebuyers. Moreover, The trickledown effect of the tax saving will mean disposable income in the hands of the common man, thereby increasing consumption and investment in real estate.”

Rakshit Desai, Managing Director, FCM Travel Solutions – Indian Subsidiary of Flight Centre Travel Group.

“The tourism industry is a crucial contributor to India’s GDP and we appreciate that the Union Budget 2020-21 presented today by the honourable Finance Minister Niramala Sitharaman reflects a potential for growth in domestic and inbound tourism. We see a clear focus on revitalizing the aviation and tourism sector which will also boost employment in the industry. Several initiatives like enhancing the role of AI and machine learning will make the industry more technologically competent and help us become future ready.

The decision to add 100 more airports by 2022 under the Udaan scheme is a much anticipated support to the sector. It will further enhance regional air connectivity, making travel affordable and accessible across the country. With regards to the road connectivity, the central government’s plan to construct 2500 access control highways, 9000 km eco-development corridors, 200 coastal and port roads, 2000 km strategic highways along with the Delhi-Mumbai expressway and two other corridors to be completed by 2023 are commendable initiatives for bridging the urban–rural divide and significantly bolstering growth in the sector.

Allocation of Rs 3,100 crore to Cultural Ministry for developing five archaeological sites as iconic sites with on-site museums along with a tribal museum in Ranchi are laudable and will impact the tourism industry positively in the coming years. Thankfully tourism is now being viewed as an important growth driver of the economy.”

Rashie Jain, CEO & CO-founder of Onco.com““The allocation of 69,000 crores in the budget towards better healthcare for tier 2 and 3 towns, is a welcome move. Extending Jan Arogya Yojana to bring more underprivileged within the insurance ambit will go a long way towards ensuring better healthcare and treatment options. We are positive about the measures taken in the budget to make healthcare for all a priority.”

Dr Alok Roy, chairman of Medica group of Hospitals said,

The government has shown its commitment towards healthy India by providing INR 69,000 crore to the healthcare sector. It has rightfully focused on bringing in several key structural reforms for the nation moving towards that goal. It is heartening to see the Government’s display of commitment and concern towards rural healthcare by announcing more empanelled hospitals under the flagship Ayushman Bharat Scheme in Tier 2 and 3 cities. The budget has rightly outlined by specifically focusing to those areas where there are no hospitals. The proposal to set up Viability Gap funding window to build hospitals in the public-private-partnership (PPP) model will widen the scope of the government’s flagship scheme, AB-PM-JAY and will provide large scale employment opportunities to youth.

It is encouraging to see the government’s support towards manufacturing high end medical devices under the Make in India program. This will increase affordability and ease of access in procuring the equipment.

On the other hand, the announcement of cess on import of medical equipment will be used for creating infrastructure for health services in the aspirational districts is accepted as a welcome move.

The allocation of ₹3000 crore for skill development which also includes hospital staff, care givers and paramedical staff increasing competency in the healthcare sector, is encouraging.

The expansion of the Jan Aushadhi scheme is a move to make affordable healthcare at the door step of the common man.

Budget 2020 brings in very positive growth for the healthcare delivery in the country. This is not a populist budget, but a budget that has far reaching positive impact on healthcare sector.

Mr Rishi Jain, Managing Director, Jain Group,”*Budget 2020* This budget is all about kick-starting the personal consumption economy .
The personal tax proposals are testimony to that fact . The focus of the government on ease of a normal citizen is laudable. 
The minor tax proposals for the housing sector shows that government are concerned about the sector, but absence of big ticket reforms also clears its intent that nothing major should be expected . Also no major moves were announced to ease the credit woes. 
Overall the budget is well balanced and more like a “maintenance of economy” budget and not like a “kickstart the economy budget.” 

Mr Abhishek Bhardwaj, Chief Marketing Officer, Shristi Infrastructure Development Corporation Ltd. 

The budget has been a balanced one with conscious focus on real estate and infrastructure sector. The warehousing sector has also been duly addressed. We welcome the budget.

Mr. Sachchidanand Rai, Chairman, Eden Realty.  

“Very balanced budget for middle class. Affordable housing will get a boost”.

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