Budget expectations

Budget expectations

Attributed to Ramesh Nair, CEO & Country head (India), JLL

 The government made necessary and timely interventions through liquidity infusion, fiscal support and reform driven investments in the initial leg of relief measures. Further, the Central Bank and the Central government rolled out other critical measures including loan moratorium, relaxation of NPA classification norms, one-time restructuring of corporate and personal loans (including home loans), etc. These measures and concessions have definitely helped in enhancing consumer sentiment, thus boosting consumption, resulting in increased traction in the real estate sector. While we have seen a continuance of recovery in the fourth quarter which started in Q3 2020, the actual market transaction volumes continue to be lower compared to pre-Covid levels.

In this context, we believe that the following additional measures will aid in spurring consumption, investment; thus, resulting in a sustenance of a recovery led growth in the next few quarters.

 Accord ‘Industry status’ to the real estate sector

• Extension of benefit u/s 80EEA to avail additional INR 150,000 interest deduction on home loans to the following:
• Existing homebuyers who have already availed home loans
• First time homebuyers to include mid segment as well

• Separate provision for deduction of 'principal repayment' on home loans
• Restriction on setting off loss from house property against other heads of income at INR 2 lakh to be removed
• Reduction in holding period of REITs for long-term capital gains
• Allow 100% FDI in completed residential real estate projects through the automatic route
• Allowing input tax credit on calculation of GST payable in real estate

 

Director Vijay sri G's request to Central govt and

 Director Vijay sri G's request to Central govt and Central Board of Film Certification -

'Statutory warning messages on punishments on men who violates women should also be mentioned on the title card of the movies' says director Vijay sri G.

Director Vijay sri is presently directing two movies Polladha Ulagil Bayangara Game and POWDER simultaneously.

Central Board of Film Certification had insisted that statutory warning messages of tobacco use and alcohol consumption should be dispalyed on the title card of the movies. Since September 26, 2012 the film ventures have been following those protocols. 

"In my movie 'Dhadha 87' which was released on March 1,2019 , I had added on the title card like 'Don't touch the ladies without their consent. This message was widely acknowledged and appreciated by the audience" , adds the director.

'The lead actor of the movie Dhadha 87,Shri Charuhasan would address to a gang in a scene  like if You touch the women then I would burn you all to death' , says the director.

 'I was shocked to know the death of a girl was brutally raped and tortured in Hathras. The whole nation shedded tears after knowing that brutal incident. In my movie Polladha Ulagil Bayangara Game alias PUBG , I have filmed a scene in which guys raping a lady and burning her were punished to death severely by one of the lead role of the movie. I always have failth in the Indian judiciary system, both the Governments (state and central).

'I request the Central board of Film Certification and the government to advise the film makers to  include a statutory warning for rape scenes in films', concludes the director.

CM Ashok Gehlot to ensure doing

CM Ashok Gehlot to ensure doing business gets easier in Rajasthan 

The Chief Minister of Rajasthan Ashok Gehlot would personally monitor the progress on Ease of Doing Business (EoDB) parameters in the state. A meeting under chairmanship of the CM will soon be convened. This was informed by the Chief Secretary DB Gupta while addressing a high-level meeting with various departments at the secretariat on Wednesday over the implementation of EoDB in the state. 

"Ensuring achievement of EoDB goals is more necessary now than before.  We need to establish responsibilities, identify focus areas, and set a time-bound program to fulfil the goals," the Chief Secretary directed the officials. “There would be monthly meeting with the department secretaries and nodal officers regarding progress in the direction,” he added.

The Central Government, while increasing the parameters of EoDB reforms has also linked the implementation with the additional borrowing limit of several states. The additional borrowing limit has been established at 2 percent of the respective Gross State Domestic Product (GSDP), in the case of Rajasthan, 1 percent of GDP nears about Rs 10,000- Rs 11,000 crore. The states are expected to comply with the directives till January 2021. These guidelines are mostly aimed to make more and more business-related government process accessible online and free of any physical contact. 

"We observed that several of the district level business reforms proposed under the guidelines cannot be dealt merely at the district level and thus need portals at the state level to deal with all the user-related requirements," said Dr Subodh Agarwal. 

“Also the portal will provision for future requirements, the central government keeps amending the EoDB criteria and a centralised portal would ensure that the new parameters can be easily included,” he added.

The Chief Secretary asked the related departments to increase coordination with the Department of Information Technology for the purpose. Directing for focused approach, the Chief Secretary held that compliance of guidelines would be implemented under guidance of Commissioner of Industries, Muktanand Agarwal, who is nodal officer for the implementation of EoDB.

"The departments need to sensitize the respective nodal officers and ensure that objectives are met before the Central government deadline by December, while there is still time left for rectification if required," said Commissioner Industries, Muktanand Agarwal.

He informed that implementation of the EoDB parameters will not be evaluated on mere basis of changes in the government procedures, the feedback of users will also be taken in consideration to determine that the reforms have been implemented to satisfaction.

Officials from Urban Development, Local Self Governance, Tourism, Excise, Mines, Energy, PWD, PHED, Forest and several other departments were present during the meeting.