Jayakumar Krishnaswamy, Managing Director, Nuvoco Vistas Corp. Ltd on the Union Budget

“The Union Budget 2022-23 presented by the Hon. Finance Minister, Smt. Nirmala Sitaraman provides a much-needed boost in the infrastructure segment. The slew of measures announced will provide the necessary thrust for an infrastructure-led economic revival. Announcements like – allocation of INR 20,000 crores towards Gati Shakti Yojana, public investments for modern infrastructure, plans for the construction of 25,000 km of national highways, urban development and sustainable living, increased budgetary allocations of INR 48,000 crores under the PM housing schemes, the introduction of Modern building by-laws will provide much-needed impetus for India’s building material industry.

Announcements towards the reality segment by allocation of INR 44,000 crores under PM Awas Yojna to complete 80 lakh affordable houses in 2022-23 is a positive to the cement industry. Also, the proposed 35% increase in capital expenditure will definitely help to revive the economy that has been under pressure due to pandemic impact and rising inflation. Overall, the budget will pave the way for the country’s growth going forward.”