FM presented a very finely balanced budget : Sanjaya Gupta, M.D., PNB Housing Finance Limited @followcii

In a reaction to the Union Budget presented today, Mr. Sanjaya Gupta, M.D., PNB Housing Finance Limited said, “The FM presented a very finely balanced budget. So far, as the housing sector is concerned, the Union Budget for the FY 16-17 is in line with Prime Minister’s vision of ‘Housing for all’ by 2022. Tax reforms made by the government are indicative of centre’s seriousness towards giving a much required fillip to the housing sector. The industry has been expecting initiatives that can directly translate into benefits for the end consumer, thus increasing the velocity of transaction and improving the market sentiment. The additional tax exemption of Rs 50,000 for the first time home buyers is certainly a welcome move. With this we expect a spur in sales and far greater traction of growth in the affordable housing segment.”