Finance Minister Piyush Goyal presented sixth and final budget 2019 of the Narendra Modi government’s before the polls. He highlighted the initiatives of the government and announced the farmer income support scheme of Rs 6,000 per year and many other schemes. Different industries like healthcare, Tech, AI, Logistics, real estate, etc. had their set of expectations and now some of them are quite happy. We have incorporated the reactions of numerous industry leaders.
Arun Nathani, CEO, Cybage
“This budget is providing major boost to real estate segment through fiscal incentives like extension of benefit Under Section 80 IBA, no tax on notional rent on unsold inventory for two years, no notional rent on two self-occupied properties instead of one. Additionally, direct benefit of INR 6,000 to small farmers will provide positive sentiments and will have positive cascading effect on GDP growth. We welcome the step to promote AI hubs in India which will help to build technical competence and have long lasting impact from technology point of view for the future of India.
This budget has populist and election oriented flavour, Government will have to balance the spending and keep the fiscal deficit under control.”