Reaction of Mr. Samir Chopra, CMD, RE/MAX India on Budget 2009-10:
 New Delhi, 6th July, 09: Calling the budget a fair, socialistic and balanced budget, Mr Samir Chopra CMD RE/MAX India said that the upliftment measures announced in the budget will go a long way in enhancing the overall growth of the economy.
Vision of 9 % growth is notable, however, it gets lost somewhere in the Finance Minister's speech. While there is an impetus for infrastructure growth, the catalyst on mass housing and commercial properties is missing.
Also, the Government has not been conservative as the fiscal deficit still is at 6.8 per cent.
Removal of FBT is welcome and so is the Goods and Services Tax (GST) which will be in effect from 1st April, 2010.
Keeping in view the global economic situation, the government has not burdened us with any direct or indirect taxes. On the other hand, the increase in MAT would mean 50 % increase in taxes that companies were paying earlier on book profits.
For IT and BPO industry, there is a mixed reaction. IT / BPO companies are the boon for housing and real estate industry, which generates maximum money inflow as EMI's to the economy; these directly contribute to the GDP. Hence more focus could have been given to this sector by providing some subsidies and sops to this sector.
The sunset clause of one year for the STPI's should have been extended to a period of three years.
The budget is pro infrastructure, agriculture and micro and small scale enterprises. Overall, it is a fair, socialistic and balanced budget.
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Union Budget