India unveils incentives to create jobs in first budget after election

(Reuters) – The first budget of Indian Prime Minister Narendra Modi after this year’s general elections will focus on employment and the middle class, Finance Minister Nirmala Sitharaman said on Tuesday.

The government will allocate 2 trillion rupees ($24 billion) to create jobs over the next five years, Sitharaman said, in a plan that provides employment-linked incentives to companies, including those in manufacturing.

COMMENTARY

ARPIT MEHROTRA, MANAGING DIRECTOR, OFFICE SERVICES, COLLIERS INDIA, BENGALURU

“Lower stamp duties make purchasing property more affordable for women, potentially leading to a rise in the number of female homeowners.”

“The reduction in costs associated with buying property can stimulate more real estate transactions, as women and families take advantage of the savings.”

VIMAL NADAR, HEAD OF RESEARCH AT COLLIERS INDIA, MUMBAI

“Provision for multilateral financial aid to develop the new capital city (of Andhra Pradesh) will drive significant momentum in construction and real estate over the next few years across asset classes mainly commercial and residential.”

“The announcement of 12 industrial parks under the National Industrial Corridor with a focus on creating integrated zones will propel supply of Grade A industrial spaces. This will also aid in increasing the proportion of organized superior quality stock within the industrial segment.”

(Reporting by Anisha Ajith; Editing by Varun H K)