Budget 2024: Extend PLI schemes, encourage FDI: Knight Frank India

Shishir Baijal, Chairman and Managing Director of Knight Frank India, shares key industry expectations for Budget 2024. He emphasises the need to "accelerate infrastructure development, enhance economic efficiency, and drive social welfare while balancing the fiscal position." Baijal suggests improving the business environment by enhancing the ease of doing business, extending performance-linked incentive schemes, and encouraging foreign direct investment through liberalised policies. Regarding real estate, he notes that while the sector has seen growth, the affordable segment lags due to supply and affordability issues. Baijal recommends "additional fiscal incentives" to boost demand, reinstating higher interest subsidies and increasing the price cap for affordable housing. He also calls for a regulatory framework for long-term rental housing and increased infrastructure investments to enhance connectivity in urban areas, thus improving affordable land supply for housing.