Planet Smart City | Perspective on Union Budget Expectations

By Mr. Mukund Deogaonkar, Director, India, Planet Smart City

“2020 and 2021 have been tough for businesses across the globe. However, with strategic measures by the government of India for 2020 & 2021 budget, real estate and allied sectors have benefitted, resulting in historic sales and registration, thereby garnering impetus for the sector’s growth and building consumer trust. With a nationwide vaccination drive, India has successfully contained the aftermath and effects of the second wave of the pandemic. However, with the Omicron variant, the Health and Infra sectors face a challenge to contain the anticipated third wave and any other outbreaks of similar magnitude. Moreover, it will be interesting to see if financing schemes for affordable housing sectors are extended to mid-segment. While the government of India has done all it can to offer relief to the sector even during these hard times, we urge the consideration of the aforementioned to further help in stabilising demand. We are hopeful that the upcoming Budget will bring realty under the infrastructure status, unlocking a slew of tax incentives to increase international and domestic investments and uplift the overall demand in the industry.”