Union Budget 2021: Government should focus on ‘revival push’ in order to provide a fillip to the affordable housing sector, Rajesh Mehra, director & promoter of Jaquar Group said in pre-budget expectations document. “Relief for taxpayers, reduced income tax rates will nurture the spur of demand in the housing sector this year. It will be beneficial to have a limited waiver on GST to aid the pricing burden on property owners. Additionally, the GST for sanitary ware and LED/smart lighting is marked at 18 per cent and 12 per cent respectively – a reduction will be conducive to improved demand and help with the adoption of better consumer habits to gratify the government’s Vocal for Local, Swasth India and affordable housing for all by 2022 goals,” Mr Mehra said in a statement.
Corporates and industry leaders expect bold economic reforms from the upcoming budget as Finance Minister Nirmala Sitharaman has already said her upcoming budget will be like never before and alluded to it as “unlike anything seen in the last 100 years”.
Budget 2021-22 assumes special significance in wake of the Covid 19 pandemic. It will be the first Budget of the NDA government in the midst of the ongoing Covid19 pandemic. And in a significant break from tradition, this will be the first time in the history of independent India that the Budget will be paperless.
“From a manufacturing perspective, enhanced infrastructure spends, clearing of pending industry dues and a continued thrust on MGNREGA will generate employment opportunities. From an MNC perspective like ours, an extension on the Infrastructure for Exports Scheme and interest rate equalisation for all exporters will ensure more of Indian products find their way in international markets,” Mr Mehra added.