Pre-budget Quotes – Retail, Real Estate & Education Sector

Budget 2017

Please find below the quote on Budget 2017-18 expectations From Retail , Real Estate & Education Sector.

Prashant Solomon MD-Chintels India


Real Estate – Prashant Solomon, Managing Director, Chintels India Ltd. and Hon. Treasurer, CREDAI NCR


“The Indian real estate sector remained in headlines due to many policy level changes in 2016. RERA Act 2016), Benami Transaction Prohibition (Amendment) Act 2016, amendments in REITs regulations, GST and Demonetization, were the ones that were considered to have the potential to change the way real estate sector work. In 2017, the sector is eagerly looking forward to and has several expectations from BUDGET 2017. We look forward to real estate being given Industry Status. This will pave way for increased adoption of industry best practices by the developers and attract further investments in the sector. The long and complex process of obtaining approvals, leads to huge time and cost overruns. A single window clearance will go a long way to ensure that projects remain viable and corporate houses stay invested in the sector.”


“The recent announcement of slashing home loan rates by the PM will be a boon as far as affordable housing is concerned and we expect the sops to be extended to the middle class home buyers as well. Lastly, the recent demonetization drive by the PM is perceived as a significant reform. In the long run, this measure along with others such as Real Estate (Regulation and Development) Act, 2016 (RERA) will align the real estate sector to the international standards of doing business. However, despite the positive initiatives undertaken by the Government the real estate sector did not see the boom it expected. We hope that the Budget 2017 to have more constructive and definite reforms which will help in an atmosphere of growth and development in the real estate sector.”


About Chintels India Limited:

The Chintels group of companies has been active in the field of real estate in the NCR since 1992. Our flagship company, Chintels India Ltd. (An ISO 9001:2000 certified company) is in the process of developing over 400 acres of prime land in the new sectors of Gurgaon which are located in a prime location touching the borders of Delhi. Located in Sectors 114, 106, 108 and 109 of Gurgaon, the land bank that has been acquired by the company over the past decade or so is now ripe for development and is now being developed into an exclusive 153-acre township with over 70 acres of group housing surrounding it. Located in Sectors 114, 106, 108 and 109 of Gurgaon, the land bank that has been acquired by the company over the past decade or so is now ripe for development and is now being developed into an exclusive 153-acre township with over 70 acres of group housing surrounding it.

Retail – Abhishek Bansal, Executive Director – Pacific India

Abhishek Bansal

In 2016, the Realty and Retail sectors remained in headlines due to policy level changes – RERA Act 2016), Benami Transaction Prohibition (Amendment) Act 2016, amendments in REITs regulations, GST and Demonetization drive to name a few. These along with the ongoing economic changes, relaxation in FDI are considered to have the potential to change the way sector will shape up in 2017. We are very optimistic about the upcoming budget and pinning our hopes on the Finance Minister. Affordable housing is the key to emerge the sector from the current crisis and our PM’s announcement on reducing the home loans is worth the appreciation. I feel Year 2017 will be good for the Real Estate sector. I foresee 15-20% growth in the sector. The Overall impact will be good on economic growth and momentum.


About Pacific Mall, Tagore Garden:

One of top premium shopping, entertainment and leisure destinations in Delhi and NCR Region, Pacific Mall is a part of the Pacific India Group, one of the reputed realty and infrastructure developer providing distinctive and specialized services in Real Estate, Hospitality and Education sector. Located in Tagore Garden the Mall is very well located and connected by public and private transport. Pacific Mall not only boasts of more than 130 national and international premium Brands in the country today but also is known for its ambience, location, connectivity and the experience it provides, catering to the conscious, updated and discerning customer of today

Retail – Mr. Ajay Laddha, Co Founder,  YMS Mobitech Pvt Ltd

The India consumption story, especially the sectors dealing in cash, faced a small roadblock when the government announced its demonetization move in November. We think the Finance Minister will try and reverse the negative sentiment with his Budget speech. While demand has been sharply hit, we are expecting a sharp recovery in the next couple of months. The Budget may look to aid consumption by tinkering with personal income tax. We are also expecting incentives for e-payments and digital transactions, improving the share of retail business, hitting the grey market and leading to higher acceptance for e-based offline distribution.


Mr. Ajay Laddha is a serial entrepreneur with over 20 years of experience in Telecom Retail, Distribution service Industry. He is also an angel investor supporting tech startups in in the Education, Health and Automobile industry. Mr. Laddha started his career with AM Mobile in 1995 for sales distribution of mobile phone connections of Command, which later become Vodafone. In 2003, he started a retail store chain for Nokia-branded retail and Nokia Service Centers. At one time it was the largest retail chain for Nokia in India with operations in east and west India.


In April 2015 Mr. Laddha started YMS Mobitech with a team of Young IITians to create an app-based ecosystem for mobile phone retailers. Their first product AUN (AppsYouNeed) is offline selling of apps and other services in India at the mobile phone retailer stores. Currently, the platform is used for distribution of Services, Accessories and Handsets. Mr. Laddha has done his graduation from University of Pune in Electronics & Communication (BE).


About YMS Mobitech

YMSMobitech Pvt. Ltd. is tech-based distribution Company that started operations in April 2015 with mobile services offerings Apps You Need. It operates India’s first and largest e-distribution platform, to sell and monitor products, with a promise of zero dead stock and zero loss of business opportunity. YMS Mobitech has a sales channel across 26 states, 417 cities with 403 distributors and 12,872 retailers. The company also has 2,019 in-shop sales consultants and has serviced 10, 37,619 customers as of January 15, 2017. All retailers, distributors and sales team track their tasks & reports via the YMS mobile app and a web dashboard.



Mr Akshay Munjal, President, BML University

There is a pressing need for structural reforms in the education sector. We are optimistic that this years’ budget will increase the focus on STEM (Science Technology Engineering and mathematics) in schools and colleges. STEM degree holders have a higher income even in non-STEM careers. It is clear that most jobs of the future will require understanding of math and science. A significant improvement can be seen in the education facilities throughout the country, particularly in Tier-2 and Tier-3 cities owing to new schools and higher education institutions which have been set up in the last few years. This needs to be bolstered with a further increase in the overall education budget along with an increase in funds allocated for the students from economically weaker sections of society. Further enhancing of faculty development and training will have a multiplier effect. The government needs to focus on teacher training through internship programmes, structured short duration modules etc. I believe that the Finance Minister needs to reallocate funds to tier 2-3 autonomous Government institutions as they require investments on up gradation of infrastructure, attracting world class faculty, building R&D labs etc.”


About BML Munjal University:

BML Munjal University (BMU), a non-profit university founded by promoters of The Hero Group offers undergraduate and post-graduate courses in management (BBA & MBA), undergraduate courses in engineering (BTech), commerce (BCom (Hons)), Ph.D, and Executive MBA programmes. Currently, 1400 students are enrolled in the university from across the country. The University has been founded with the objective of transforming higher education in India by creating a world-class teaching and learning environment. 

P S Choudhary, Head Sales & Marketing, LML Limited


Owing to number of factors, this union budget is expected to be a blockbuster one in many ways than one. Considering the phase the auto industry is currently passing thru and the potential ahead, I have two wishes.

  1. Some reduction in the excise duty particularly in the small commercial vehicle segment, because besides affecting the auto industry recovery it would also help generate some employments for the people at the bottom of the pyramid which in turn will boost the auto sector in particular and the overall economy in general enhancing the demand.
  2. Significant allocation of funds in the social infrastructure of healthcare and education which would – besides nation building – improve employ ability big time. After all the biggest asset any nation could ever have is its people with world class efficiency. This can offer real demographic dividend to India.

Budget 2017-18 expectations by Mr Pavel Maco, CEO, Home Credit India Finance Pvt. Ltd.


“Very rarely in recent history has a single policy decision in the financial world had such an immediate impact as India’s move to retire old Rs 500 and Rs 1000 currency notes. With focus on digitization and push towards a “less-cash” economy, India now has the perfect platform to push for a common and universal Aadhar-based eKYC system for all financial instruments and lending activity. The budget 2017 can announce the contours of a roadmap for moving into a comprehensive Aadhar-based eKYC system. Apart from saving time, it will create a data base for the government to bring those who are outside the banking net into the formal, legitimate financial system”.


About Home Credit India:

Home Credit India Finance Pvt. Ltd. is a leading consumer finance provider that is committed to drive credit penetration and financial inclusion by offering financial solutions that are simple, transparent and accessible to all. One of India’s leading Non-Banking Financial Companies (NBFCs), Home Credit India has its operations in nearly 60 cities across 15 states in the country. The company has a strong network of nearly 7,000 Points-of-Sale (PoS) where it services nearly 2 million customers through a driven employee base of over 17,000. Home Credit India is part of Home Credit B.V., an international consumer finance provider with operations in 11 countries across Europe and Asia. The group employs over 85,000 full time employees who have so far served nearly 60 million customers through the vast distribution network comprising over 200,000 points of sale, loan offices, branches and post offices as of June 30, 2016.

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