Deepak Garg, MD, Sany India & South Asia

The major highlight of the announcements made in the budget for us is the Big infra spending boost of Rs. 7.5 Lac Crores in financial year 2022 – 23.

Provision for Rs. 1 lac crores – 50 year interest free loans to state government over and above the current limit will surely put more money in the hands of the state government to increase spending on infrastructure development. Green bonds announced in the budget session also look very promising in order to reduce the carbon intensity of our economy.
Increasing impetus given on the 7 engines of growth in the Pradhan Mantri Gaati Shakti program shows the government’s commitment towards rapid 360 degree growth in the overall infrastructure sector. Some key measures announced in the budget are a definitive step towards this goal. Expanding highways by 25000KMS, which is nearly 83 kms a day, will prove to be a major growth booster for our economy. Similarly, Multi modal logistics facilities were previously not given the due attention it needed but thankfully today’s budget seems to have changed this trend with the announcement of construction of 100 cargo terminals in the next 3 years.

With the allocation of Rs. 48000 crores for the Pradhan Mantri Aavas Yojana, we are hopeful that the Government’s commitment towards providing affordable housing will soon turn into a reality. Besides housing, drinking water is an essential need for everyone and allocation of Rs. 60000 crores towards drinking water projects will not only benefit the common man but positively impact the infrastructure sector and pipeline industries as well. Other significant announcements like Modern Infra for India at 100 with multi modal approach, Energy Transition, climate action to fuel sustainable development etc. indicates that this year’s budget is dedicated to infrastructure development and is forward looking in every sense of the word.