The exemption of tax on income up to Rs 12 lakh is not just a welcome move at this juncture considering falling consumption and rising inflation but a revolutionary move for India’s tax paying and consuming class. The overall impact of this move will be seen in increased consumption, including discretionary and more importantly by increasing demand for homes which off late has been on a declining trend owing to rising prices. In the last few years, real estate demand has been positively impacted by massive infrastructure development across Indian cities. The greater emphasis in this Budget on urban rejuvenation and infrastructure development will further give a boost to expanding housing supply and sales.- Mr. Garvit Tiwari, Director, InfraMantra
