Hiranandani Applauds Government's Growth Vision in Pre-Budget Meeting

Niranjan Hiranandani praised the government's focus on industry concerns in a pre-budget consultation. Key topics included affordable and rental housing, slum redevelopment, and infrastructure. He emphasized the need for incentives in rental housing and slum intervention in Mumbai, expressing optimism about the upcoming Union Budget's growth-oriented vision.

Niranjan Hiranandani, Managing Director of the Hiranandani Group, commended the government's attentive approach towards industrial concerns during a pre-budget meeting with Finance Minister Nirmala Sitharaman. The discussion touched upon vital issues such as affordable housing, rental housing, slum redevelopment, and infrastructure development, with an emphasis on fostering growth.

Reflecting on the meeting, Hiranandani remarked on the government's openness to industry suggestions, stating, "The meeting with the finance minister went exceedingly well. It's encouraging that the government seeks collaboration with the industry." He also voiced concerns over the decline in affordable housing growth, a first in his four-decade-long career, citing the PMA scheme as a pivotal incentive measure.

Hiranandani highlighted the need for a shift towards rental housing, an aspect often overlooked in the sector. He pointed out that, even in the United States, 50% of people live in rental housing and urged for similar incentives in India. On urban redevelopment, especially concerning Mumbai's slums, he stressed the importance of comprehensive schemes to address slum conditions.

Discussing the challenges in urban infrastructure, Hiranandani noted issues like last-mile connectivity and safety concerns. He also advocated for measures enhancing energy efficiency and sustainability in transportation. On capital gains tax, he suggested broader exemptions to accommodate more diverse scenarios.

Hiranandani concluded by lauding the government's growth-oriented perspective, underscoring its commitment to creating a conducive environment for economic progress, expressing hope for the forthcoming Union Budget.

(With inputs from agencies.)