Himanshu Chaturvedi, Chief Strategy Officer – Tata Projects Ltd on Union Budget 2019
We appreciate the government’s intention to invest Rs.100 lakh crore into infrastructure in the next five years. This will ensure long term growth for the infrastructure sector and spur national development, including improving people’s lives through better amenities and facilities.
The budget has paid attention to the issue of funding for long term infrastructure projects through the setting-up of an expert committee thereby spurring expectation that it can be resolved in the near future. Increased focus on the railway network, especially modernization of stations is a much-needed initiative. Intent to upgrade 1.25 lakh km of rural roads at an estimated cost of Rs. 80,250 crore will provide a fillip to the rural economy, provide jobs and ensure development. Emphasis on other transportation initiatives such as BharatMala, Sagarmala and UDAN can ease people’s lives and provide stimulus to businesses.
‘One nation one grid’ and other power sector initiatives such as tariff reforms can potentially rejuvenate the sector. The building of homes in both – rural and urban areas and additional tax benefits for home loans will give a boost to the Realty sector. Usage of Universal Services Obligation Fund corpus for augmenting BharatNet, especially in rural areas is a noteworthy action. The setting up of National Space India Limited, a PSU to boost commercialization of India’s space research will provide an impetus to India’s space ambitions, augment revenues and benefit the entire eco-system, including all vendors.”
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