Mr. Vinod Kumar Gupta, Managing Director, Dollar Industries Ltd. “We welcome the first Union Budget by the Modi 2.0 Government. This budget sets the pace for India to become a 5trillion economy which is visible through policies and initiatives for the development of infrastructure and msme sector. There are several outreach programs for growth, expansion, and facilitation of Micro, Small and Medium Enterprises. Overall an encouraging budget.”
Real Estate Sector
Mr Sachchidanand Rai, Chairman – Eden Realty Group
“This budget is based on the philosophy of reform, perform and transform. Naturally, the focus is more on the rural economy, women, youth and infrastructure. Special sops to buyers of affordable housing units of up to 45 lacs will give a boost to the housing sector in the short term.”
Mr. Nakul Himatsingka, Managing Director, Ideal Group
“The government continues to tread on its stated path. The increase in the limit on interest deduction on affordable housing should give a boost to that sector.”
Mr Rishi Jain, Managing Director, Jain Group
“The message of the new FM and indeed the Modi 2.0 government is very clear: Make housing affordable and make only affordable housing.
Our developer fraternity needs to understand and appreciate the same. The writing on the wall is that super-rich and those in the highest tax brackets should not expect any sops and in fact, should cross-subsidize the poor. The government is not Anti Rich, but they expect the Rich individuals and corporations to be pro-poor. The budget signals the foundation of a truly balanced and self-disciplined society. The boost in an affordable housing tax benefit and startup valuations relief is commendable as well. It shows that this is a feedback-oriented budget.”
Mr. Sanjay Jain, Managing Director, Siddha Group
I would like to congratulate the Honourable PM Narendra Modi and FM Nirmala Sitharaman for Budget 2019-20. The full budget presented by FM Nirmala Sitharaman as the first budget of Modi Sarkar 2.0 will give a significant boost to the economy. Keeping in mind the real estate industry, this budget looks hopeful for both real estate developers and home buyers. Tax rebates & interest on housing loan in the affordable housing sector will attract more home buyers. Rental Housing promotion is another advantage to the industry. I am really happy with the better credit tenure by NBFCs as this will benefit the real estate developers. The housing sales is also aimed at getting higher with the increase of carpet area limit.
Mr Abhishek Bhardwaj, Chief Marketing Officer, Shristi Infrastructure Development Corporation Ltd. The Union Budget 2019-20 has laid major impetus on reforming the economy. A pro-development budget focusing on youth empowerment and infrastructure development, the Modi 2.0 Government’s announcement of increasing the limit on interest deduction on affordable housing, is surely going to promote the affordable housing segment.
Startup–Mr B L Mittal, Founder and Executive Chairman, Sastasundar.com
The Union Budget 2019-20 is a progressive budget. It lays the foundation for growth and equality. The budget clearly shows the way forward for a transparent economy.
Ms. Niru Agarwal, Trustee, Greenwood High International School
The union budget has come up with policies that will enhance the welfare prospects of populations across the country. It is a growth-oriented budget that augurs well for the economy. The measures taken up by the government in its budget will help education in all respects. and will go a long way in reforming the educational sector. The series of measures announced by the Finance Minister touches upon key changes in the sector ranging from setting up of new institutions to improving the research culture in the country.
While literacy has always been a focus, this time round there are proposals to improve the quality of education. The government has announced Rs 400 crore allocations to set up world-class institutions that will rival the best across the country and the world. The higher funding would enhance the quality of education in government schools and will help children in their learning endeavour. But a more fundamental announcement has been the national education policy that tries to align India’s institutions with global institutions. The proposal to set up a National Research Foundation will encourage and improve the standards of research in the country. The government also plans to invite foreign students to study in India and this will be realised through the new scheme ‘Study in India’, which is highly appreciative. Schools in the country will be made future-ready with a focus on research, robotics and AI. This technology upgradation will allow Indian schools to leverage the power of digital solutions and prepare students for new age jobs and career.
Ultimately, the budget has important and progressive measures and is student -focussed. Education is linked to the economy and good skills will lead to a highly productive system. The status of education is often a healthy predictor of the country’s overall development and well-being.