The Urban Infrastructure Development Fund will help spreading the projects even in tier 2 and 3 cities

- SUNIIL DESAI

Director - BD & Spec, Dextra India

What is your opinion about the Union Budget 2023-24?

The Union Budget 2023 - more popularly seen as Amrit Kaal Budget, has something for every segment and still stuck to the path of fiscal prudence. The concept of Saptarishi to include Inclusive development, reaching the last mile, infrastructure and investment, unleashing the potential, green growth, youth power and financial sector shows the clear path of how government plans to navigate the economy.

How far will the Budget help in pushing the further growth of your business segment?

As a representative of construction and infrastructure industry, our sincere thanks are due to the capital investment outlay which has increased steeply for the third year in a row by 33% to Rs 10 lakh crore, PM Awas Yojana (66% up) and the highest ever outlay for Railways (Rs 2.4 lakh crore) are the great motivators for 100% of our innovative products which serves the need of major infra projects such as HSR, Metros, Bridges, Tunnels etc. Our range of FRP components which contribute towards sustainable measures would be more valued in the days to come.

Implementation of the Budget proposals is key. What are your views in this direction?

Another important initiative in this budget is to set up the Urban Infrastructure Development Fund (UIDF) which will help spreading the projects even in tier 2 and 3 cities. There is also continuation of 50-year interest-free loan to state governments for one more year which should accelerate and incentivize local state level infrastructure projects. In short, the typical challenges of centralized authorities, allocation of funds, rigid & silo of working of government departments would be relaxed to a good extent and there is more empowerment to local bodies to make decisions.

What kind of push in project execution are you expecting this year with the general election following in the next year?

We have seen this consistently that the last 2-3 budgets that government has refrained from announcing poplar but challenging/unrealistic schemes but rather wish to focus on implementation of what is in hand. Also, there is a natural tendency of any government to inaugurate maximum projects ahead of elections which are committed during the government tenure. Moreover, the double engine governments in the most part of India, inclusive feeling and commitments to become $5 trillion economy and the positive perception and willingness of external world to invest in India should help accelerating project implementations.

What kind of growth are you expecting in the year 2023-24? What is your outlook?

Continuing our legacy of over four decades, we continue to contribute to the growth of India. Our wholehearted support to Make-in-India reflects through our state-of-the-art manufacturing facilities in India and also through our unique and sustainable offerings in the form of mechanical splices, FRP components for metros & tunnels, UT testing tubes for pile foundations, architectural systems for bridges & airports, precast splices etc.

With rising demands of the industry, we have some expansion plans in active consideration which would be informed to our stakeholders soon.

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