Union Budget 2022 will Pay Off on Long Term as per Industry Honchos of India

Moreover, the industry doyens have in the meanwhile opined that the budget will ensure more investment and infrastructure growth that will offer a progressive blueprint of economy of India in the long run.

Mr. Ashish Bhutani, Chief Executive Officer at Bhutani Group said, "Budget 2022-23 is definitely a futuristic budget with its focus on infrastructure, warehousing, logistics and urban planned development besides improving connectivity through Gati-Shakti masterplan for expressways. Further, we welcome the honourable Finance Minister's announcement of the allocation of Rs. 48000 crore for housing projects under PM Housing Scheme. In a nutshell, all these initiatives will improve demand in the real estate sector in the long run while encouraging the thrust on tier-2 and 3 cities where revamped urban planning and design has been envisaged for capacity building."

Mr. Ajay Chaudhary, Chairman and Managing Director, Ace Group reiterated, "The budget presented by the honourable finance minister enframe's a much promising future for the real estate industry with the much introspected PM Housing Scheme which accrues a huge allocation of Rs. 48000 crore in FY-23 for housing projects apart from single-window green clearances. This move will help the real estate sector streamline the construction of affordable homes."

Mr. Rizwan Sajan, Founder and Chairman, Danube Group said, "Budget 2022-23 has the provisions for the modernisation and upgradation of the country's infrastructure that will fuel more demand in the real estate sector which is expected to reach US$ 1 trillion in market size by 2030."

Mr. Sanjay Gupta, CMD, APL Apollo commented, "The boost in the infrastructure allocation presented by the honourable finance minister in the budget shall create a formidable positive impact on the industry creating more demand than before as the capital expenditure growth announced by the government shall be beneficial for the steel sector."

Mr. Anshul Gupta, Director, Okaya Power Pvt Limited added, "We welcome Union Budget 2022-23 for its focus on the growth of renewable energy and especially the electric mobility through the announcement of the battery swapping policy that will surely boost the EV adoption in the country. All these initiatives are in sync with the government's endeavour to encourage the use of electric vehicles in both personal and commercial segments with aim to realise the vision of making India a 100 per cent e-vehicle nation by 2030."

"Union Budget 2022-23 has given the much needed boost to EV industry with the upcoming policy on battery swapping. The policy will help drive the wide-scale adoption of EV batteries while it will also reduce the upfront ownership cost of EVs. The government's intention to develop special mobility zones for electric vehicles is another encouraging move for the industry. Moreover, the creation of Zero emission zones in the cities will further help drive demand for electric vehicles and EV batteries," added Mr. Deepan Garg, Director, Ruchira Green Earth.

Mr. Rajendra Mehta, Director-Sales & Marketing, Glowderma opined, "Budget 2022-23 is here to transform the healthcare sector with its allocation of Rs 64,180 crore to be spent over the next six years to improve healthcare services. We look forward to a sizeable growth in the coming months supported by this generous initiative by our honourable finance minister."

Mr. Ajit Gupta, CMD, Ajit Industries said, "With the balanced and sensible allocation in various sector of economy in the current budget the future for packaging sector also seems very lucrative. The provisions of incentivising exports, besides exemptions provided on various items including packaging boxes has thrown open a window of opportunities for the packaging industry."

Mr. Kapil Jain, CEO, Nicholas Healthcare added, "Healthcare sector is expected to be encouraged by the budget with the boost provided by its significant provisions that will lead to continued investment in capacity expansion in various segments leading to an exponential growth."

Mr. Naresh Kumar Garg, Managing Director, Pearl Precision concluded, "We welcome the Budget 2022-23 as it has accommodated a wide range of measures that shall inevitably contribute towards the growth trajectory of the industry. We look forward to achieving a better ROI in the months ahead."