An impactful budget to build a resilient infrastructure says Aaditya Sharda, CoFounder, Infra.Market

Union Budget 2023-24 reaction from Mr. Aaditya Sharda, CoFounder, Infra.Market

We are optimistic that the Union budget will have a hard-hitting impact on the infrastructure sector and the economy. The increased capital investment outlay and grants of Rs 3.7 lakh crore are likely to attract private investments and drive growth in the infrastructure sector. The increased CapEx to 3.3% of GDP will boost the industry and increase construction and development activities, thus creating jobs and driving economic growth.

Additionally, the government’s decision to increase the allocation for PM Awaas Yojana to Rs 79,000 crore is a welcome move. It will have a ripple effect on the transportation and infrastructure sectors by increasing demand for commercial vehicles and tractors for moving construction materials and infrastructure development.

However, it is essential to note that the success of this budget’s impact on the construction sector will depend on various factors, including effective implementation of the measures, market conditions, and other economic and political factors. We will wait and watch how the initiatives play out and continue with our efforts in revolutionising the construction ecosystem and helping build a resilient nation.