“Although the GST does not formally fall within the Union Budgetwe would like to see a clear political signal from the Finance Minister that input tax credit (GST offset) for residential construction will be restored. This will materially improve the feasibility of the project, reduce embedded costs and ultimately benefit homebuyers through more efficient pricing,” Rohit Gera, Managing Director, Gera Developments.

“Furthermore, given the rising risks to global trade, we expect the Budget to place strong emphasis on stimulating domestic demand while improving the competitiveness of India’s exports. Measures that reduce the cost of capital, improve ease of doing business and support exports of manufacturing and services will be critical to sustaining growth momentum in an uncertain global environment,” he said.

The Association said private industrial contractors need tax incentives for industrial corridors, logistics infrastructure and stronger public-private partnership models to attract investment.

In the housing segment, expansion of affordable housing incentives, rationalization of GST on construction materials, liquidity support and easier access to institutional financing will help address rising input costs. A balanced, construction-friendly budget will boost employment and accelerate India’s growth,” Gujar said.