Budget lays the foundation for environment friendly developments - The 3C Company
New Delhi, February 26, 2010: Welcoming the Budget announced by the Finance Minister today, Mr Vidur Bharadwaj, Director, The 3C Company said that the announcements made will go a long way in stabilizing the overall economy and lay a roadmap for attaining the double digit growth rate.
"We welcome the Union Budget for the year which has made a small beginning towards providing sops for the benefit of conserving energy and lead to efficient usage of construction material. The Government's move towards cutting the excise duties for CFLs by 50% will provide an impetus to the usage of energy saving lighting fixtures and help spreading awareness for energy efficient materials, Mr Bhardwaj said.
Adding further, he said "New direct tax rates slabs would offer higher dispensable income for individuals. One can expect greater levels of such surplus money to come to the real estate segment as investments. This will indeed give a boost to the sector.
"We however expected the Government go a step forward and announce a subsidy package and tax relief for development of green buildings. This would have gone a long way in increasing green development in the country. Providing industry status to real estate in this budget would have further facilitated easy availability of capital for developers as real estate sector is still not preferred for investment by the financial institutions," Mr. Bhardwaj said. |
Union Budget