What is the government doing about battling the slowdown? Are we expecting more sops for auto, some measures for real estate and infra?
Some announcement have been made during the budget speech. Post that also, we have met all the stakeholders, various industry leaders, homebuyers, real estate sector and the difficulties faced by the industry in various sectors. We have discussed that in House as well and the finance minister has made announcements in the last two press conferences.
As we said in the last press conference, after the announcement of the bank mergers, there will be new announcements next on a couple of sectors. That may happen in the next couple of days and real estate is one of them as well.
As far as the automobile sector is concerned, the government has already said that the Bharat IV vehicles which will be sold till 31st March 2020, will be allowed to be registered. Second, we have given additional 15% deduction and that makes it 30% deduction as well, RBI has made another announcement which has given a lot of benefit as far as interest reduction is concerned.
The automobile sector is also raising that issue of GST cut but we have to see whether after giving discounts, deductions and allowing the Bharat IV to go on till the registration time, whether the demand has increased or if there are other factors responsible for the slowdown.
Also, the GST issue is taken up by the GST Council and all the decisions in the past are also taken unanimously by the GST Council.
Apart from real estate sector, in which other sectors can we expect some relief when the next set of announcements come in say next week?
Whatever the concerns are, the government is listening to the industry with an open mind, taking decisions as quickly as possible. Those decisions were announced by the honourable finance minister in the last two press conferences. Wait for the next one.
Will it happen next week?
Of course, yes.