Anuj Puri, Chairman – ANAROCK Property Consultants
- The interim budget may focus on wooing voters rather than boosting specific industries
- PMAY and employment shortfalls must be addressed
- Funding announcements without implementation guidelines will not suffice
Before every annual Budget, the real estate sector trots out a highly optimistic (and unrealistic) wish list to the Finance Ministry.
Whether the industry actually expects the upcoming Budget to cure all its woes with a wave of its magic wand is beside the point. Unrealistic expectations – many completely outside the purview of the Finance Ministry – have become the norm.
Single-window clearance, industry status and hiked tax exemptions limits which will miraculously revive demand for properties have become the usual suspects in such wish lists.
Let’s be rational in our expectations from an interim budget which is announced shortly before general elections.
Though the larger ‘acche din’ premise is debated to the present day, the first Union Budget under the Modi Government in 2014 was certainly a harbinger of change for buyers and builders.