Mr. Pradeep Jain, Chairman, PDL

I personally feel that today’s budget was for aam-admi, it is good for each and every individual in the society, the budget is supportive for the tax payers as the extension of limit will help in reducing burden on individual tax payers. I am sure that the budget tabled today will induce renewed sense of optimism over the country's growth. Adding further, Mr. Jain, said, that, “The budget is good for all public in general and for infrastructure sector, food processing units and the large support to the rural development including PPP projects, education and health etc. In other words, the budget is good for each and every individual and all the sectors. But the developers have looked forward to more sops to bring housing affordable for all the sectors of the society, however, we welcome hon’ble finance minister’s move of provision of Rs 700 crore and extension of interest subvention scheme of 1% on all individual housing loans upto Rs 10 lakh for units costing upto Rs 20 lakh till March 30, 2011. The scheme recognizes that cut in interest rates has an important role to play in reducing EMIs of borrowers & creating additional demand for low cost housing. We are of the view that it will encourage and prompt the developers to give more importance to projects which will cost upto Rs 20 lakh. However, it would have been more fruitful for the buyers and developers had the limit been increased from units costing upto Rs 20 lakh to units costing upto Rs 30 lakh” “Hon’ble finance minister’s further support to the real estate sector to continue to get the benefit under 80IB(10) on the ongoing affordable housing projects which were earlier required to be completed in 4 years from the date of sanction are now allowed to be completed in five years. This indeed is a direct support to the sector as during the slowdown some projects did get delay but now the developers will continue to get the tax benefit in affordable housing projects under section 80 IB (10),