Mr.
Dheeraj Panda – Managing Director of Ammann India on the Infrastructure
segment.
"The Union Budget 2024
heralds a transformative period for India's infrastructure sector with an
allocation of ₹11.11 lakh crore for capital expenditure, which constitutes 3.4%
of the GDP. This significant investment underscores the government’s commitment
to enhancing infrastructure, presenting substantial opportunities for
construction equipment companies like Ammann India to contribute to and benefit
from this growth. Additionally, the introduction of a new scheme facilitating
term loans for MSMEs to purchase machinery and equipment without collateral,
supported by a ₹100 crore guarantee fund, is poised to directly benefit our
customers within the MSME sector, fostering growth and modernization in
manufacturing.
The government’s focus on
employment and skilling, backed by a ₹2 lakh crore investment, aims to develop
a highly skilled workforce, crucial for the construction industry. This
includes employment-linked incentives, support for new hires, and extensive
skilling initiatives, ensuring a robust pipeline of skilled labour to meet
industry demands.
The budget’s emphasis on
technological support packages for MSMEs and the expansion of SIDBI branches to
serve MSME clusters will significantly enhance the manufacturing ecosystem.
These measures are anticipated to drive innovation, productivity, and
competitiveness in the construction sector, aligning with Ammann India's
strategic goals and operational aspirations."
Mr.
Shalabh Chaturvedi, Managing Director, CASE Construction Equipment – India
& SAARC region
“The Finance Minister's
announcement of INR 2.66 lakh crore for rural development, including rural
infrastructure, in the Union Budget 2024-25 is a significant investment that
aligns with our mission to support and enhance India's rural infrastructure.
Starting from the introduction of the Jan Samarth-based Kisan Credit Card, and
the support for Andhra Pradesh, Bihar, and other key regions, the government's
holistic approach to infrastructure, skilling, and rural development are vital
initiatives.
Additionally, the focus
on employment and skills with an allocation of INR 2 lakh crore is encouraging.
The various schemes for employment-linked incentives and skilling programs will
create a skilled workforce ready to meet the demands of modern infrastructure
projects. This budget reflects a balanced approach to developing infrastructure
while empowering the workforce, and we are excited to be a part of this
transformative journey. Initiatives such as providing one month's wage for
first-time employees, creating job opportunities for 30 lakh youths in
manufacturing, and supporting skilling programs for 20 lakh individuals are a
great way of boosting productivity, enhancing infrastructure and employment
opportunities across the country.”