Budget 2008 gives a negative picture to the real estate developers constructing energy-efficient (green) buildings. The industry which expected the finance minister to exempt the green quotients of construction from tax is disappointed with non-committal behaviour of the Finance Minister.
- By giving tax break to the energy-efficient buildings, the government will lose just 3-4 % of the tax component it gets from the organised construction industry, which is minimal
- But the exemption would encourage more and more players to go for green buildings
- Such a step would have earned India respect globally and would have given an opportunity to earn Carbon Credits in future
- We are at a crucial stage where Global warming is effecting the entire planet and these measures were necessary to encourage people to go green
- It is criminal on the part of the Finance Minister for not giving a tax break
- Alternately the FM should have taxed the conventional energy sources has they are eating into our natural resources / reserves
