Kunal Madan, Legal Expert, Solicitor & Advocate, Delhi High Court
The Real Estate is one of the major industries in India thrive on a parallel economy funded by black money. 30% of India's real estate sector is funded by black money. Therefore, this sector is likely to go through a tremendous pain, chaos and restructuring, it will shake up the sector.
There are indications that realty prices may reduce. Many of the home buyers preferred to pay in cash to save taxes, which ranges up to 15%. In addition, there are many suppliers for whom the payment has to be made in cash only. Their payment will be a headache now.
However on the other hand, this step will bring about transparency in the realty sector. It will help curb unaccounted-for cash in the real estate sector and will give the Indian real estate sector more credibility and make it more attractive for foreign investors,”
Rajender Garg, Director, Anupam Sinks
The Centre's decision to do away with Rs 500 and Rs 1000 currency notes from midnight Tuesday to fight against black money is a welcome step however it will have a significant negative impact on the working class and small and rural businesses in the short-term.
Over the next month, there will undoubtedly be a significant shortage in cash supply: not just Rs 500 and Rs 1,000 bills, which are being taken out of circulation, but almost every other denomination as well. However our manufacturing sector will get benefited due to increase in money circulation.
India’s larger and new-age companies will have no problems in making the switch to Rs 2,000 notes.
With the growing need of power by the households as well as several industries, there is a huge potential for power industry and the several new power projects planned will eventually increase demand for cranes
Managing Director, ElectroMech Material Handling Systems India Pvt Ltd
The construction sector plays vital role in the growth of the economy, says Nischal Mehrotra - Director Sales and Service, LiuGong India Pvt. Ltd. In an interview with C&A Magazine he gives the insights of growing excavator market in India.