Large budgetary allocations for roads and railways open up the market
The Budget's focus on infrastructure can be seen prominently with the increased capital expenditure outlay, 33% more compared to the previous year at a figure of Rs 13.7 lakh crore., which is almost 4.5% of India's GDP. The budget has also given impetus to urban planning via an Urban Development Fund of Rs 10,000 crore. which will certainly help in promoting the real estate sector. It has also supported the Pradhan Mantri Awas Yojana program by allocating Rs 79,000 crore.
- ANIL YENDLURI,
Managing Director, Vishwa Samudra Engineering Pvt Ltd
What is your opinion about the Union Budget 2023-24?
The Budget's focus on infrastructure can be seen prominently with the increased capital expenditure outlay, 33% more compared to the previous year at a figure of Rs 13.7 lakh crore., which is almost 4.5% of India's GDP. The budget has also given impetus to urban planning via an Urban Development Fund of Rs 10,000 crore. which will certainly help in promoting the real estate sector. It has also supported the Pradhan Mantri Awas Yojana program by allocating Rs 79,000 crore.
How far will the Budget help in pushing the further growth of your business segment?
The allocation of Rs 13.7 lakh crores specifically for the infrastructure sector gives rise to mammoth projects. Large budgetary allocations for roads and railways open up the market, thereby creating a massive impact of the kind of technologies and construction techniques that will enhance the quality of these projects.
Implementation of the Budget proposals is key. What are your views in this direction?
Implementation is highly dependent on planning and clarity. A Budget provides us with a broad framework on how we are earmarking funds for the growth and development of the country. The government has shown amazing consistency and dependability over the years during its term when it comes to implementing budget plans. They have always held true to their promises and have meticulously carried out what was planned.
Considering the year 2023-24 is the penultimate year of election, what kind of push in project execution are you expecting this year?
Several huge developmental projects have been undertaken in the infra sector under this government and have been completed in record time. This being the last year of the government, there will be close follow-up on the progress made with regard to several infra projects like the bullet train project, highways, new dedicated freight corridors, etc. I am expecting a good amount of progress, thanks to increased fund outlay and continuous monitoring by government agencies and execution agencies with regard to the completion of projects.
How are you planning your investment & expansion plans in the year 2023-24?
We are growing at a healthy pace compared to 2022-23, at almost more than 2.5 times. Last year we touched a revenue of Rs 500 crore. This year we'll be raking in Rs 2,500 crore. and for the next year, we hope to cross Rs 3,000 crore. Our projects this year include roads (highways, city & rural), ropeways, ports and fishing harbors in India, apart from entering overseas markets.
What kind of growth are you expecting in the year 2023-24? What is your outlook?
All our projects are lined up and ready for execution. We'll be completing most of our projects in the year 2024-25 and will be working to secure many new projects in roads, runways, ropeways and all other core infrastructure sectors. It's a year full of promise and we're raring to go. Our focus on marine based projects and ropeways will increase, along with enhanced use of sustainable technologies and processes that reduce the carbon footprint on every project we involve in.
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