Focus on social security, infra in Budget 2015: Mohit Goel

Mohit Goel, CEO, Omaxe Ltd

The Budget 2015 has put a lot of emphasis on social security, infrastructure and skill development. However, the real estate sector continues to be deprived of any real measures to boost the sector and kick-start housing demand. No benefits on personal income tax front were given to encourage savings. However, the government has found other ways to spur savings, which might not necessarily result in any captive investment. The increase in service tax is another negative for real estate. The decrease in corporate tax may not result in investment. The Government’s vision on Housing for all by 2022 and Smart Cities needs more concrete direction. I believe that the measures announced today in the Budget will see a far reaching impact in the years ahead, but not immediately.