Page 308 - SOBHA REALTY PR REPORT - JULY 2024

out to please stakeholders involved, it takes into account aspects within the economy
that require due care, attention and reform and aims to transform the economic
landscape positively for the long haul.

Thumbay Moideen, founder president, Thumbay Group: I welcome the progressive
measures introduced in the Indian Budget 2024, which mark a significant step forward
in strengthening the country’s healthcare system. The government's all-inclusive
approach, which includes upgrading hospital facilities, expanding medical colleges, and
introducing essential health initiatives such as integrated maternal and child care and
the HPV vaccination for cervical cancer prevention, reflects a holistic commitment to
improving public health outcomes. Additionally, the decision to exempt cancer
medicines from basic customs duty is a ‘pivotal move’ to make life-saving treatments
more affordable and accessible, addressing the rising challenge of chronic diseases.

V. Sivaprasad, chairman and CEO of Condor Developers: Further reductions in duties
for properties purchased by women will bolster the housing sector. Initiatives such as
financial assistance for urban housing and provision for more houses under PMAY
scheme are key initiatives aimed at addressing the housing needs of urban poor and
middle-class families

Kamal Vachani, group director & partner, Al Maya Group: The budget’s emphasis on
bolstering domestic manufacturing, coupled with strategic tax incentives, creates a
promising landscape for the industry’s growth. Reduction in customs duties on mobile
phones, chargers, gold, and silver will stimulate consumer demand and also provide a
substantial boost to domestic manufacturers by lowering input costs. The reduction of
import duty on gold will also help curtail smuggling.

Dr. Dhananjay Datar, chairman & managing director, Adil Group of Supermarkets: The
finance minister’s focus on reducing the prices of essential commodities, such as food
items, is a welcome move. This could translate to a more stable pricing environment for
the goods India imports and exports. Additionally, initiatives aimed at controlling inflation
and enhancing employment opportunities are crucial. These measures are likely to
bolster consumer spending power in India, potentially increasing demand for a variety of
food products.

Surender Singh Kandhari, chairman, Al Dobowi: A very balanced budget supporting new
jobs, supporting new investments, and promoting growth to achieve our goal to be the
third largest economy in the world.

Sukesh Govindan, CEO of 10X Properties: The targeted measures to further push real
estate growth and unlock its full potential is a welcome move. The government's
concentrated efforts on infrastructure development promise to significantly enhance
housing demand and benefit around 250 ancillary industries, generating numerous job
opportunities and bolstering overall economic growth. The announcement of PM Awas
Yojana 2.0 aims to meet the housing needs of one crore urban poor and middle-class
families, a significant step towards ensuring housing for all

https://www.khaleejtimes.com/business/balanced-budget-set-to-script-next-chapter-of-indias-
spectacular-growth-story