“The scale of the impact of the pandemic is indicated in the fiscal deficit being at 9.5% of GDP for the year. Given the challenges, the Finance Minister has done a good job with regards to focusing on pushing the growth drivers of the economy. The push of capital expenditure is positive as is the disinvestment as well as monetization of assets to generate revenue for the government. Record GST collections in the last few months as a result of simplification and increased technology led vigilance will continue to help boost revenues for the government.
With regards to the real estate sector, the government has continued on its stated path of doing away with sector specific sops and in light of this, the extension of the interest rate deduction for home buyers as well as extension of tax holiday for affordable projects by one more year is welcome.
Simplification of processes and rules for the SME segment will help ease the cost and efforts of compliance which is very good for the SME sector.”