Reaction on Union Budget from Mr. Sanjay Malhotra, Chief Financial Officer, Emaar MGF

“We believe the budget clearly shows the focus of our Government towards sustainable growth, investment in infrastructure, employment generation and skill development. The roadmap to where we want to be has been well defined. We understand the details of implementation shall be rolled out during the year.

Corporate tax regime has been given a clear direction of reduced tax rates balanced by rationalising exemptions over the next 4 years. The focus is to have a stable and non adversarial tax regime. Deferring GAAR by 2 years and making it prospective thereafter is a welcome step.

We also welcome Government’s focus on housing for All by year 2022. The removal of some of the tax deterrents for Funds and REITS are steps in the right direction.

Overall, the budget reflects the vision of the Government with emphasis on infrastructure development. It takes India forward on a path of inclusive growth, supported by steps that will make it easier to do business in India and a stable & non adversarial tax regime."