“We welcome the Union Budget 2023 as it presents a road map for further strengthening the infrastructure development in this new age of India. The increase in capex in the infrastructure segment to 33% will boost key players involved in segments such as water and urban development. This announcement also augurs well for the demand of building and construction materials. Additionally allocation of 79000 cr towards PM Awas Yojana will be a great support to the construction & allied industries. We are pleased with the measures taken to promote sustainable cities, as the finance minister said infrastructure growth has been offering multiplier effects in the economy benefitted. Also, the reforms in indirect taxes were straightforward which promote exports, encourage green growth, and most importantly boost domestic manufacturing. The initiatives introduced in the agricultural sector are remarkable and will help in adding value to the segment and overall economy.”
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