Chennai: While Finance Minister Nirmala Sitharaman presented her first budget in 2019, CBRE states that the massive allocation for infrastructure project was a major boost for the economy.
Commenting on it, CBRE India, South East Asia, Middle East and Africa CEO and chairman, Anshuman Magazine said, ‘The timely implementation of the projects will go a long way in propelling GDP and result in an improvement in connectivity and logistics. While the government has taken measures during the year to address the liquidity challenge by NBFC’s and banks, it is imperative that more concrete steps are taken in the direction of a fiscal consolidation path.’
He adds that, ‘While real estate has attracted investment over $ 6 billion in 2019, however, the government should take more steps to ease and widen domestic/international fund flow, fasten approvals/clearances, provide incentives to aid use of technology to allow faster construction and launch some skill development programs specifically aimed towards real estate.’