The sector will see a demand of about 10 crore tonne TMT in the next three years as government aims to build 1.95 crore houses under PMAY-Gramin in two years.
New Delhi, July 13, 2019: “The Interim Budget of 2019 is rightly focusing on infrastructure and start-ups to boost Indian economy. FM has done well to give priority to infrastructure development, increase tax exemption limit for individual taxpayers, give additional Rs 1.5 lakh deduction in income tax on home loans, and extend Mudra loan for women members of Self Help Group. This will put huge resources in the hands of people thereby driving income and overall consumption.
Kamdhenu Ltd CMD Satish Kumar Agarwal said the sector will see a demand of about 10 crore tonne TMT in the next three years as government aims to build 1.95 crore houses under PMAY-Gramin in two years, create and upgrade road infrastructure will give tremendous boost to construction and real estate allied sectors. Provisions to bring companies with annual turnover of upto Rs 400 crore under the ambit of 25% tax bracket, easing of angel tax for start-ups, simplification of labor laws, 2% interest subvention for GST-registered MSME on fresh or incremental loans and decision to create business incubators to create thousands of skilled entrepreneurs are major stops towards encouraging boosting start-up ecosystem in the country.
Overall, this is an inclusive budget with strong focus on enhancing ease of doing business in the country. It has something for everyone and will go a long way in sustainable and inclusive growth of India.”
Corporate Comm India (CCI Newswire)
