During recent parlia-mentary elections,
slogan which had caught up was “India
is shining.” There was improvement
in all the fields. Industries were doing
better, foreign reserves were record high,
people were getting jobs. In short, everything
was sort of looking up.
Single
biggest factor in ‘India shining’
was sops given to construction industry.
Complete tax holiday on infrastructure projects,
complete tax holiday to construction of
small and medium houses u/s 801 B; and also
concessions to house purchasers in income
tax, on capital as well as interest (within
limits) were main Feel-Good factors behind
‘India shining’.
Construction
is core industry. It is prime mover of economy.
More than 300 industries, big and small
(like cement, steel, plywood, tile, pipes,
stone aggregate, sand mining etc.) contribute
to the construction sector. After houses
are constructed, other 100 odd industries,
(like furniture, tapestry, TV, telephone,
music systems etc) contribute to the residents
of these houses. Besides, construction industry
along with these dependent industries, create
umpteen number of jobs, employing probably
the maximum labour force, compared to any
other sector. One job, “Golden Quadrilateral”
itself created numerous job opportunities
all over India, and that too from farm –labourers.
Again,
if the worker is employed, he is busy through
out the day and is happy raising his family,
giving basic needs, including education
to his children. If the person is having
house, he has got sense of belonging in
him. All these factors greatly help in curbing
crime rate and improve law and order situation.
Construction
industry is considered to be a barometer
of national progress. If construction industry
is doing well, the country is doing well.
This fact was realized by the NDA Government.
Significant concessions u/s 80 of income
tax were extended to the construction industry.
And that is why ‘India was shining’.
UPA Government
has two ministers, including PM, who are
wizards at Finance. UPA Government is equally
keen in giving economic stability to the
country. It is hoped that UPA Government
continues with, and even go more liberal
in giving concessions to the construction
industry.
Any concession
given to construction industry will work
as incentive and shall pay much more in
return, to nation.
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By K P Baney |
