By Prakash Chhabria
The Union Budget 2021, being the foremost budget of this decade was largely influenced by the global contraction caused by the pandemic. We believe the government has put their best foot forward to stabilize the investors and stakeholders in times of uncertainty.
The budget seems to be well allocated at a macro level for all relevant sectors that would act as an enabler to India’s economic growth. We believe the introduction of the National asset monetization pipeline with a focus on relevant sectors was an exceptional move to augment revenues of the government.
The proposed new DFI would certainly go a long way in helping infra projects and will play a key developmental role. A vision for Atmanirbhar Bharat in the initial part of the budget, the announcement of Urban Swachh Bharat 2.0 Mission was justified to be launched at an outlay of Rs 1.41 lakh crore over 5 years.
We hope to see revival and sustainability of PVC pipes sector through the medium of Jal Jeevan Mission Urban which is to have an outlay of Rs 2.87 lakh crore. Further, boost to the housing sector by extension of the tax holiday, increase in agricultural credit target, increase in contribution to rural infra development fund and increase agriculture infra fund made available to APMCs will provide the much-needed liquidity in the rural economy.
We are certain that the timely implementation of well-targeted budget announcements will hold the key to supporting the burgeoning growth revival of the Indian economy.
The author is Chairman, Finolex Industries. Views are personal.