CMA welcomes Union Budget infrastucture spending
The Cement Manufacturers Association (CMA) welcomed the major announcements on infrastructure, logistics, climate change and environment in the Union Budget 2020-21 presented by the India's Finance Minister, Nirmala Sitharaman.
"The Government's commitment to invest over INR100 lakhs crore (US$1.4trn) in infrastructure will help fast track the projects that have been identified under the infrastructure pipeline. The focus on disaster resilient infrastructure in the budget is a move in the right direction," CMA said.
Mahendra Singhi, CMA president and managing director and CEO of Dalmia Cement (Bharat) Ltd, said, "The emphasis on highways and roads development is well placed. This captures the priorities of economic development and an aspirational India. We would hope that rural demand gets revived and it assists in job creation."
“We are actively engaged in a dialogue with the Ministry of Commerce on the National Logistics Policy and would expect some of our considerations for upgradation and modernisation of rail infrastructure are particularly carried through. The cement industry has also been an active partner to the Government in the Swachh Bharat Mission. Reference and priority in this context being accorded to source segregation and processing should add to creating a more facilitating environment for the role expected of the cement industry in waste management given that 'Polluter to Pay' principle has been outlined in the National Resource Efficiency Policy.
"Overall, it's good to see the Budget 2020-21, which reiterates the priorities for economic development. We would look forward to these taking shape. The reaffirmation of commitment towards clean air, Climate Change mitigation efforts are most welcome. More policy interventions to revive real estate and housing would be welcome. Infrastructure development, new 100 airports and emphasis on road would go a long way to revive cement demand," Mr Singhi said.
Neeraj Akhoury, vice president of CMA and CEO and managing director of ACC Ltd, said, "The special emphasis on infrastructure development that the Government has undertaken over the past few months has been strengthened in the budget announcement today by the Honourable Finance Minister. The focus on project preparation facilities for infrastructure projects and the national logistics policy that will be released soon should help boost infrastructure and have a positive impact on the economy. Budget 2020-21 aims at making growth more inclusive while retaining focus on the immediate priorities. Priorities given to household, roads, railways, economic corridors, solar power, accelerated development of highways should help boost development and wealth creation. The cement industry is committed towards playing a strong role in the Government's aspirational agenda for transformative economic growth."
