Did the union budget 2022 meet your expectations?
Yes, Budget has continuity in enhancement of infrastructure spending to spur growth. Good, that GST is helping both industry and government; and tax compliant has increased. Overall, it is a good budget with stable tax regime.
What were the key announcements that will create a deep impact in the coming months in pushing the growth of the sector?
Government has pushed its agenda of reform. PM Gati Shakti initiative will start giving results this year. The Budget has announced additional allocation in highways and road sector including rural roads. States are being provided additional support by extending credit for infra spending. Lot emphasis on AtmaNirbhar Bharat will have positive impact on costings and reliance on imports. New venture in ropewayParvatmala will be focused are for all of us in future. Abolition of antidumping duty on steel will stabilise the price of steel and cost of infrastructure.
Which are the infrastructure projects that hold the key to push the growth momentum forward?
So far highest contribution in Government spending is in transport sector and Government further emphasised for investment in this sector, multilogistic parks and formulation of 25,000 km expressway will make industry more competitive and seamless transport of goods with optimal cost. We are eagerly looking for new PPP mode and EPC projects in PM Gati Shakti which will certainly push the growth. Allocation to Ministry of Road Transport and Highways is increased
What are the policy initiatives you would like the government to enforce/introduce for the growth of the infrastructure sector?
India has so far achieved all possible milestones of ease of doing business. The only area where focus is required is avoiding the dispute and implementation of agreement in neutral way. Government has come out with more intense efforts in dispute settlement but still a lot is to be done to avoid dispute at first place. Other policy reform needed is single window approval for all necessary clearances for projects awarded by Government especially state government clearances. This area needs complete coherence of federal structure above political interest.
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