New Delhi: Budget announcements will boost private investment, which will generate new employment opportunities and help achieve the goal of ‘developed India’ by 2047. This was said by people from the industry associated with infrastructure development.
IRB Infrastructure Developers Chairman and Managing Director (CMD) Virendra D. Mhaiskar said that the budget will boost India’s economic growth, the road and highways sector which is a key infrastructure sector is expected to get the necessary impetus through adequate fund allocation.
Kavita Shirwaikar, Acting Managing Director, Patel Engineering, said the allocation of Rs 11.11 lakh crore for the infrastructure sector will ensure economic transformation of India and creation of innumerable employment opportunities.
He said, “This announcement is a bold step towards comprehensive change. It reflects the government’s commitment to modernize India’s infrastructure, which will provide significant assistance in realizing the dream of ‘Developed India’ by 2047.
Speaking on behalf of the recycling sector, MRAI President Sanjay Mehta said the industry welcomes the proposal to continue with concessional basic customs duty (BCD) of 2.5 per cent on copper scrap and zero duty on ferrous scrap.
Pradeep Mishra, CMD, Rudrabhishek Enterprises Limited (REPL), said the PM Awas Yojana-Urban 2.0 aims to promote affordable housing and employment generation in construction aided by income tax adjustments.
Devansh Jain, executive director, InoxGFL Group, said the exemption in import duty on critical minerals like lithium would reduce the cost of batteries for both electric vehicles and energy storage.
Prashant Mathur, CEO of Satvik Energy, said the Budget proposes not to extend customs duty exemption for solar glass and tinned copper interconnect, which will also boost the domestic solar equipment scenario.