Page 40 - CO_Feb_2023

GUEST ARTICLE COVER STORY

Unleashing Potential of

Construction

Construction sector is The Budget 23-24 has paved way for A development programmes for green buildings
on its way to post robust big boost for domestic manufacturing, job are bound to generate green job opportunities.
performance moving creation and ease of doing business with Infrastructure budget has been pegged to
reduction of more than 39,000 compliances
`10 trillion, apart from making additional
forward when FM and decriminalization of more than 3,400 legal expenditure on green transition. This implies
reiterated Sustainable 9 provisions aided further due to setting up of an top Indian companies led by L&T, GMR, GVK,
times and Green 23 times Urban Infra Development Fund. The Multiplier IVRCL, Simplex, Gammon, Siemens, Thermax,
during her Budget speech. effect should reveal itself in next few years. The HCC, Tatas & many more including little
demand for housing is already very robust and known MSME’s can expect a surge in their
the Budget 2023-24 would further augment order booking. With a capital outlay of `2.4
growth for India’s real estate sector. trillion for the railways, there will be a dynamic
Sustainable cities of tomorrow will get a big change in strengthening the infrastructure of
push through urban planning, ease of land the entire railway system aiding construction
availability and TOD scheme promotion in turn. Government’s attempt to prioritise the
ultimately helping entire construction sector 100 critical transport infrastructure projects
& employment of skilled and unskilled alike. for ports, coal, steel, fertilizer and food grains
Focus on overall infrastructure development sectors will increase the capacity utilisation
and on Tier 2 and 3 cities will be key to propelling in turn various Manufacturing
overall economic development and new Companies to increase their capacity to
construction. India’s commitment to net meet the growing demand from the railways,
zero carbon emissions by 2070, sustainable roads, and infrastructure sectors. This will create

40 CONSTRUCTION OPPORTUNITIES|FEBRUARY 2023