It is a positive and decisive budget coming especially against the backdrop of the government’s boldest measure of demonetisation. The Finance Minister has spelled out a forward-looking regimen for the infrastructure sector with a total allocation of up to Rs 3.96 trillion. Giving industry status will greatly ease financing for affordable housing. With the metro rail emerging in cities and railway lines of 3,500 km to be commissioned next, and tier II city airports there is a greater scope for public- partnership to thrive, which will aid construction activity and lead to a boom in demand for cement as well. Further, enhancing expenditure on national highways will give much needed fillip to the cement industry. Overall, with a focus on rural and agricultural development, housing, clean energy, elimination of poverty, providing basic necessities to the farmers, waivers for senior citizens in government schemes and a promise of aiding Skill India and Digital India campaigns, the government has presented an all-inclusive budget this time around. On tax reforms, there has been no relief or relaxation for Corporate Tax for larger corporates which is disappointing.
- Sundeep Kumar, Executive Director - Corporate Affairs & Communications, Dalmia Bharat Group