Budget 2016: Focus on rural economy will help rekindle demand, says Abhishek Lodha of Lodha Group

NEW DELHI: Budget 2016's focus on rural economy will help rekindle demand in rural India and enable stronger, more sustainable economic growth for the entire country, says Abhishek Lodha, Managing Director of Lodha Group.

"It is a thoughtful Budget, which has taken into account realities of global and Indian conditions. The focus on rural economy will help rekindle demand in rural India and enable stronger, more sustainable economic growth for the entire country. At the same time, the finance minister's idea to retain a fiscal deficit target of 3.5% is commendable. It will not only enhance India's credibility amongst the global investor community but also open doors for the RBI to consider lowering interest rates," he says

"The focus on affordable housing will give much-needed impetus to develop greater number of affordable housing projects across the country, thus, directly aligning the agenda with the prime minister's vision of 'Housing for All'. Increasing the limits on interest deduction on homes costing less than Rs 50 lakh and removing the Dividend Distribution Tax on REITs, both are welcome measures which will help boost the attractiveness of India's housing sector."

"We welcome the Budget and think that it will pave the way for India to continue being the fastest growing major economy in the world."