B2B Purchase – July 2019

(Michael S) #1

8 B2B Purchase July 2019


UNION BUDGET 2019


I


n a follow-up with Economic Survey 2018-19, chalking
out blueprint for $5 trillion economy in next five years,
the Union Budget 2019 has extended the emphasis on
rapid social infrastructure development in order to propel
economic growth. Finance Minister, Nirmala Sitharaman, in
her maiden Budget speech duly emphasized the importance of
infrastructure and connectivity to the Indian economy.

She announced an investment of ` 100 lakh crore in
infrastructure in the next five years. Presenting the first Budget of
the Modi 2.0 government, Sitharaman said that the government
plans to restructure the national highways programme to create
network of highways grid of a desirable capacity for better
connectivity. Additionally, the government envisions using rivers
for cargo transportation, a move that will decongest roads and
railways. The railway infrastructure would need an investment of
` 50 lakh crore between 2018 and 2030.

Projects such as industrial corridors, Bharatmala, Sagarmala
and UDAN schemes have and will continue to improve connectivity
and increase competitiveness, paving the way for New India. Road
corridor project Bharatmala, port-linked industrialization plan,
Sagarmala and UDAN will help in bridging the rural-urban divide
and improve transport infrastructure. The finance minister also
said that the government expects cargo movement in Ganga to
increase four times in next four years with the creation of transit
hubs at Varanasi, Sahibganj and Haldia.

Although, the Budget ticked many of the right boxes to
improve liquidity flow, reactions from economy experts and
market analysts were mixed, however, for players in construction

Inclusive and Progressive


for Construction Industry


The government
announced investment
of `100 lakh crore in
infrastructure in next
five years, while railways
would need investment of
`50 lakh crore by 2030.

Schemes such


as BharatMala,


Sagarmala and


UDAN are bridging


rural urban divide


and improving


our transport


infrastructure.


By Pradeep Pandey
Free download pdf