Mr. Gagan Banga Vice Chairman & MD, Indiabulls Housing Finance Limited commented on the union budget 2015-16 as
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| Gagan Banga_Vice Chairman & MD _ Indiabulls Housing Finance Ltd. |
“The
FM has cleared the cluttered, and at times convoluted, tax regime and
has ushered in a more cogent and predictable tax environment. Good
infrastructure is the foundation of meaningful and sustainable GDP
growth.
The thrust on infrastructure in the budget is a welcome step in
this direction and signals the government’s intent and understanding of
the importance of this key sector. The finance minister underlined
inflation management as another area of priority for the government. Not
only will this aid robust economic growth, a low to moderate inflation
environment will also ease populist pressures on the government.
Availability of low cost capital is a key enabler for the real estate
sector. The sector has a high multiplier effect on the economy and
affordable housing is key to realizing the social dream of Housing for
all.
The tax overhaul to permit the listing of REIT will provide a much
needed source of capital to a sector that is hungry for efficient
funding.”
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