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Budget is Forward Looking & Growth oriented

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budget expectations

1)Welcoming the Union Budget proposal for FY18, it is ‘forward looking’ and ‘growth oriented’. The Finance minister has ensured the affordable housing demand gets a shot in the arm. With proposed changes in tax exemption on low cost housing up to carpet area 60 sq. meters and getting the affordable housing under the infrastructure status will bring in foreign investments and funds from banking sector at lower costs which will strengthen demand in the real estate sector. Furthermore reduction in Income tax rate in the lowest slab will help put more money in the hands of the people and when offered with the incentives on affordable housing will provide significant demand in the affordable housing segment.

With the criteria for affordable housing being changed from built-up area of 30 & 60 sq mts to carpet area of 30 & 60 sq mts, will make affordable housing segment attractive for buyers as this means more spacious homes and a larger market for the developer to promote.
-Mr. Vineet Goyal, Joint Managing Director, Kohinoor Group-Pune 

2) “The announcement of affordable housing being given Infrastructure status is a welcome move and will act as a catalyst to meet the objectives of Housing to all by 2022. This announcement will also increase investment of private players in the affordable housing segment and bring the country closer in achieving PM Narendra Modi’s dream.

Finance Minister announcing the proposal to construct one crore houses for the homeless and increasing the budget allocation for Pradhan Mantri Awas Yojana (PMAY) will surely provide better options for the MIG and LIG aiming to buy their first homes. The finance ministry’s interest subsidy schemes for the middle income group is indeed an innovative step to address the housing needs of the country.”
- Sujeet Bhansali, CEO, Playtor Childspaces

3) “Education is an important game changer in the coming decades for any society in general and the Indian society in particular when the number of young citizens of India is increasing so rapidly that both education and employment are going to be certain issues for this country. The budget indicates some very encouraging signs of change, in particular, the introduction of a National Agency for Testing and Entrance Exams is a welcome initiative – long overdue. It will reduce the burden of students. However, the present form of one single exam is not in-tune with the technology as well as the scientific developments happening in the field of testing. There are more than 200 agencies in the world which are developing better and newer concepts of testing, so this agency should not be a traditional bureaucratic agency but a modern and forward-looking agency.

The announcement to develop a system for measuring learning at school level is indeed a welcome move. The emphasis on flexible curriculum and science education will require a very progressive school management and administration. The practice of measuring annual learning outcome in the education of backward blocks will also enable the society to evaluate the effectiveness of the measures undertaken by the government.

The other two important announcements of the budget concerning the autonomy as well as online courses are in-tune with the current discussion in the field of education. However, colleges and universities should be provided with the necessary guidance as to what to do once they get the autonomy. Also, the effectiveness of online courses is dependent on several details of pedagogy and assessment. In short, the devil is in the detail.

Finally, the discussion about separation of regular education and vocational training should not be treated separately. The fusion of vocational training in mainstream education is necessary. Hence, the investment in vocational training should be blended with the regular education of the student. The concept of innovation fund for secondary education is welcome. It should encourage young men and women to develop new techniques/applications which will help them effectively in their learning process.

-  Dr. Sanjay Dhande, Chief Mentor, Avantika University

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