Budget Reactions

Sripad Nandiraj, Founder, Hocomoco

“The government’s intent of pushing Housing for All and affordable housing in Budget 2021, is going to be a welcome move after the slump in the construction industry due to the pandemic. The proposition of extending exemption available for the purchase of affordable housing and tax holiday for affordable housing projects for more than one year till March 2022 will give a fillip to the buyers. We also hope that the measures of tax incentives around affordable housing will help in the formidable growth of the housing market.

The measures taken by the government for startups in the Budget are very encouraging, as the emerging startups will continue their operation without worrying about the compliance of taxes. Extension of tax holiday and formation of separate administrative structure for promoting and monitoring the startups are laudable moves by the Finance Minister. The Government’s support to the startup ecosystem in India continues this year and the industry is poised to be back on the growth trajectory after an unprecedented last financial year.”

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