As the Union Budget 2024-25 was announced, cement makers are betting on higher allocations to housing and infrastructure, which constitute more than 80 percent of the country's demand for the commodity.
Sharing his insights with a Pioneer representative, Priya Ranjan, the unit head of Dalmia Cement (Bharat) Limited, Bokaro unit, highlighted the government's commitment to boosting capital expenditure in infrastructure development. With an outlay of ₹11.11 lakh crore, equivalent to 3.4% of GDP, the government is set to significantly enhance infrastructure growth. This substantial investment promises great opportunities for the private sector, especially for cement companies, to participate in various infrastructure projects.
Ranjan emphasized the importance of investment in 12 industrial parks, rural development, urban housing, and road projects, combined with the overall infrastructure capital expenditure. These initiatives are expected to drive economic growth and development across the country.
Additionally, the budget's focus on employment and youth skilling is evident with a dedicated outlay of ₹1.48 lakh crore. This initiative aims to empower and upskill an estimated 4 crore youths, creating a robust workforce for the future.
According to Ranjan, this year's budget is a significant step towards building a "Viksit Bharat" (Developed India), with its emphasis on infrastructure, employment, and various other measures designed to propel the nation forward.