The favourable budget outcomes are enhancement of priority home loan limit to Rs. 25 lakhs from Rs. 20 lakhs and extension of interest subvention of 1% up to Rs 15 lakhs.

Backed by strong economic growth and impressive fiscal consolidation, the Royal Institution of Chartered Surveyors (RICS) believes that the finance minister has done a commendable job by continuing the focus on infrastructure development, which has been a key contributor to the inclusive growth in the country.

The budget speech indicated further progress on the Direct Tax Code (DTC) as well as the GST – both critical measures, which is a welcome move. Though, I feel that it would have been better for the industry if GST was also rolled out along with the DTC.

For the Union Budget 2011-12, rising inflation, tight liquidity, high interest rate, industrial slowdown, delayed reforms and negative market sentiment were some of the key concerns to address.