“Union Budget 2020-21 focuses on reviving economic growth and enabling ease of living for citizens. Reduced income tax rates will boost disposable income and drive consumer demand. Infrastructure development across sectors such as housing, metro and railways, highways, logistics and warehousing, irrigation, airports, clean energy, healthcare and educational institutes will aid industrial activity and create jobs. The proposed policy for the development of data centre parks indicates a renewed thrust on data as a valuable resource that will fuel the nation’s growth. The Budget also acknowledges the huge employment opportunity that exists in construction, and the operations and maintenance of infrastructure projects. Plans announced for ensuring cleaner air in India’s cities will support emissions reductions targets, in line with our commitment to climate action.
A year’s extension on both the additional reduction of Rs1.5 lakhs for interest paid on affordable housing home loans; and the tax holiday provided to developers of affordable homes will boost supply and revive demand in the segment. Affordable Housing also stands to gain from the increase in disposable income due to lower personal tax rates on income of up to Rs. 15 lakhs. The allowance of a higher difference between transaction value and stamp duty rates can also stimulate growth.”
-Sangeeta Prasad, MD & CEO, Mahindra Lifespace Developers Ltd