Mr. T. Chitty Babu Chairman & CEO, Akshaya Pvt. Ltd's reaction on Budget 2020

We appreciate the key steps initiated by the Finance Minister to build a robust and reliable financial sector. The infusion of Rs 3.5 lakh crore into PSU banks will allow the banks to reduce the stress and aid real estate developers in procuring funds for the projects. Fund raising is an important aspect and we hope that it is implemented seamlessly in the coming financial year. The allocation of Rs 100 lakh crore to build infrastructure and boost warehousing opens fresh avenues for real estate developers to be part of the next phase of growth in the country in the next five years. Skill development at different levels of infrastructure will allow the real estate sector to bridge the gap and train the youth to address the evolving demands of the real estate sector. The changes introduced to income tax slabs and the flexibility to be part of old tax regime or the new regime is a progressive step to boost consumer sentiments. The tax holiday extended by the Finance Minister for the affordable housing projects by one more year will encourage developers to undertake and initiate more projects under the affordable housing segment.