The Indian cement industry, which contributes over Rs 30,000 crore to the exchequer through GST alone, might profit from the government’s aim to increase capital investment by 35 per cent in FY23, as well as the country’s overall macro focus on upgrading infrastructure and affordable housing.
N Srinivasan, vice chairman and MD of India Cements and president of the South Indian Cement Manufacturers’ Association, said that the 35.4 per cent increase in capital expenditure to Rs 7.5 lakh crore in FY23, as well as the effective cap of Rs 10.68 lakh crore, which includes the states’ share, will result in significant investment in infrastructure projects such as roads, bridges, and metro rail. The big-ticket housing initiative PM Awas Yojana, which will cost Rs 48,000 crore this year and will focus on affordable housing, with 80 lakh households to be identified and a 25,000-kilometer national highway to improve transportation logistics, will give it a boost.
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