We Welcome the Thrust Given to Infrastructure & Green Energy Sector: AIAI
MUMBAI, February 2, 2024: Dr. Vijay Kalantri, the President, All India Association of Industries (AIAI), has welcomed the Budget 2024-25 for paving ways to promote sustainable growth in the realms of infrastructure and green manufacturing sectors.
Dr. Kalantri, also the Chairman, MVIRDC, World Trade Centre Mumbai, said the measures to promote green manufacturing, inclusive growth, women-led development and for providing relief to small taxpayers as envisaged in the Budget can go a long way in boosting the Indian economy.
In a statement here, Dr. Kalantri said “The government has increased allocation for infrastructure and various development sectors, without compromising fiscal discipline”.
He said that at a time when experts are calling for transition to low carbon economy, the budget has rightly announced scheme for bio-manufacturing, bio-foundry, financial support for offshore wind projects, biomass machineries and expanding e-vehicle ecosystem.
Dr. Kalantri further said that Infrastructure investment plays an important role in increasing productivity and reducing logistics cost. The government has rightly increased allocation for capital expenditure by 11%, especially by giving thrust on three new rail corridors, urban transport, port connectivity and tourism infrastructure projects.
We feel the budget will promote rural development with the announcement of comprehensive program for dairy farmers, Blue Economy 2.0 and with the fresh target to create 3 crore lakhpati women. Construction and real estate are the major drivers of employment in the country. The budget has provided renewed emphasis on this sector by announcing new scheme for middle class to buy homes and construction of 2 crore more houses in five years said Dr. Kalantri.
AIAI feels that the MSME and the Women Entrepreneurs expected some thrust and financial support which would go a long way. The various provisions in this budget will attract private investment and strengthen India’s economic growth momentum, said Dr. Kalantri.