Reaction to Union Budget 2019

Inputs by Mr. Rishi Jain, Managing Director, Jain Group

It is a well-balanced and very mature budget.

The FM has nicely walked the path of fulfilling the BJP election mandate of populist measures without overburdening the Economy with mindless doles and subsidies. I half expected more loan waivers and cross-subsidization, but interest subvention is a much prudent measure, clearly, there is great maturity evident in these proposals.

The Real Estate sector has reasons to celebrate even though the measures are purely incremental and not structural. 

The easing of the notional rent was a big relief, this spectre has been haunting developers for some time now. I welcome the move immensely. The housing for all motive is evident from affordable housing impetus, that is also wonderful news. The Capital gain relaxation, the TDS relaxation are all measures to remove government hindrances in transacting property. 

Undoubtedly, the real estate sector is bound to see revival ahead, how much and how quickly is anyone’s guess. But revival is just around the corner and the government is signalling happy times, rather achche din ahead.

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