New Delhi: The budget compliments the expectation of the steel and other related industries. “SAIL (Steel Authority of India Limited) is completely geared up to cater to every requirement of the government’s roadmap to reform, perform and transform India. SAIL is committed to fulfill the expectations of Indians as it has been doing for the last sixty years,” CMD Anil Kumar Chaudhary said.
‘Budget very structured’
The CMD said that for a country headed towards $5-trillion economy in five years, the budget is very structured for moving towards that target. “Clear emphasis has been laid on the infrastructure development along with massive push to every connectivity avenue including industrial corridors, dedicated freight corridors, Bharatmala, Sagarmala, UDAN and the PMGSY,” he added.
‘Good for steel industry’
The government’s commitment in the budget to provide electricity, housing for all under Pradhan Mantri Awas Yojana – Gramin (Rural), availability of water and LPG connections, focus on development of urban housing under Pradhan Mantri Awas Yojana – Shahri (Rural), etc are all very positive and hold excellent promise for the steel industry, he noted.
The budget also proposes investment of Rs 50 lakh crore in augmenting railways infrastructure by 2030 as well as substantial investment for roadways upgradation and connectivity.
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The government’s emphasis on investing Rs 20 lakh crore every year in infrastructure development will certainly help in increasing the steel consumption and will facilitate the growth of domestic steel industry.