The financial budget for the year 2019 was announced in July. It involved the government cutting taxes across various sectors of the Indian industry. The highlight of the budget was the drastic decrease in corporate taxes to 22 percent, amounting to almost 1.3 lakh crores. The announcement caused aheavy uproar in the stock market as well.Motia Group, delivering top flats in Zirakpur, would like to share the latest announcement made regarding the real estate sector in India.
The Finance Minister of India, Nirmala Sitharaman,recently stated that the measures announced by the ministry so far have failed to elevate one of the most important sectors of the industry, the real estate sector. She said that it has remained untouched and requires many improvements. She also added that since August, various attempts have been made to ensure a steady revival of the market as well as the consumer demands.
The real estate is said to have a lot of positive impact on other sectors of the Indian industry. It is the sector that can also has a direct effect on the stock market.
Nirmala Sitharaman declared that the Reserve Bank of India(RBI), along with the central government, is now working to tackle the difficulties being faced by the real estate sector. She also acknowledged that the realty sector was ignored when measures for boosting the economy were announced earlier in the year.
During an event at the National Stock Exchange(NSE), Sitharaman made the audience aware of the government’s keen interest in collaborating with the RBI to make necessary changes in the existing norms and assist the ones that are influenced by the realty sector.
While there are many funds already in place, adequate policies are paramount. Alterative funds are also available to the government but will come into play only if a supporting mechanism is available to assist the revival of realty sector. Motia Group, offering the best property in Chandigarh, hopes the attempts being made by the Indian government bear fruit.
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