A Very Well Balanced Budget: Venkatesh Gopalkrishnan
Nutan Gupta / 10 Jul 2014
Venkatesh Gopalkrishnan, EVP & CIO, Shapoorji Pallonji Real Estate shares his views on the maiden budget presented by Finance Minister Arun Jaitely.
Overall a very well balanced budget keeping in minds growth, deficit and inflation. Meeting the fiscal deficit targets could be challenge, tax reforms and rationalization, driven by realizations led by higher growth will help achieve the deficit targets.
Budget with propel GDP growth which will in turn spur real estate demand over the medium term. Specific measures relating to reduction in area for FDI and REIT’s will increase liquidity in the sector and as such reduce the dependence on the banking system. With the current incentives in the budget, Affordable housing will become even more attractive from a developer’s perspective.
For investors, the budget has brought cheer for the most part. Equity and bond markets have cheered the commitment to growth and fiscal consolidation. Investors have been given more investment opportunities (REITs, small savings). However the tax on debt funds has been increased to reduce the tax arbitrage over other debt instruments.
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