It?s a well-balanced budget, keeping sustainable and inclusive growth in mind. For the real estate and hospitality sector, there are some things to cheer about. For instance, the finance minister?s announcement that pending projects in the housing and real estate sector can be completed in five years, extending it by a year, is a positive development. We also have to read the fineprint on the implications of some sections of the construction industry coming under the services tax net. So far, we have been creating construction as a capital asset, we have to watch out for the implications of this announcement. Also, renting of immovable property also has been made a taxable service. Rents will go up effectively. But there are other positives in the Budget, not least the boost for star category hotels. Investment-linked tax incentives for properties which start functioning after April are a welcome move. The reduction in surcharge is also a positive development. The budget has laid a lot of emphasis on infrastructure, education and health sectors. There is enough focus on developing road and power infrastructure, which will support the economy?s growth, and the new adjustments in direct taxes will benefit at least 60% of tax payers. The scheme for flood management in two districts will help Bengal, while the announcement for a new port at Sagar addresses the issue of Haldia Dock system under the Kolkata Port Trust. On the flip side, I am worried about how the Budget proposes to counter inflation.