New Delhi, June 21 -- The Union Budget should reflect the far-reaching magnitude of the real estate sector, which has a multiplier effect on the growth of the entire economy. It is the second largest employment provider in the country, next only to agriculture. The sector is expected to employ over 60 million people and reach USD 180 billion by 2020 comprising 11% of the GDP. With the growing economy and the rising GDP, the momentum is only going to speed up.
The real estate sector has witnessed many transformative reforms over the past few years. These reforms have revived consumer confidence and laid the foundation for massive growth. The key drivers of growth for the sector are regulatory reforms including RERA and GST, relaxation in FD...