The good news is that the Central Govt, by continuing with the tax incentives for housing loan interest payments, did not upset the applecart. Policy makers have realised the cascading benefits of expanding housing activity on the Indian economy. Substantial reduction in interest rates has triggered the unsatiated demand for housing. For the Indian middle class, the dream of owning a house is becoming a reality.

Releasing similar triggers and removing bottlenecks in other sectors should work wonders and will go a long way in strengthening our economy.

It is heartening to observe Karnataka emerging as one of the more progressive states—it being the first one to adopt Value Added Tax (VAT) and initiating many long pending reforms in Stamp Duty. For example, Karnataka’s new tourism and infrastructure policies should help the development of these sectors.

The benefits of BATF taking the lead in effecting better coordination among the stakeholders of Bangalore are beginning to be felt. Commencement of the new international airport and metro rail will surely help in ensuring Bangalore continues to remain the best city in India—both in which to live and work.