CREDAI National President Harsh Vardhan Patodia on Wednesday said through the Union Budget 2023-24, presented by Finance Minister Nirmala Sitharaman in Parliament, the Central government continues to focus on the empowerment of youth, women OBCs and farmers.
Reacting to the budget, Patodia, in a statement said, with a keen focus on the future of the country with a growth-oriented budget, we applaud the Finance Minister’s vision of enabling an inclusive and sustainable development growth chart for infrastructure.
An increased capital outlay for a third year in a row to INR 10 lakh crore amounting to 3.3 percent of the GDP, a hike of 66 per cent to over 79,000 crore for PM Awas Yojana and the 9000 Crore Credit Guarantee Scheme for MSMEs, will have a positive multiplier effect on economic growth and help realize the Prime Minister’s vision for ‘Housing for All, he said.
Continuing its focus on urban planning reforms to develop sustainable cities for tomorrow, the allocation of INR 10,000 crore to the NHB for infrastructure development, the highest ever railway outlay at Rs 2.4 lakh crore and increased regional connectivity through 50 more additional airports, helipads, water aero drones, advanced landing grounds will also boost affordable regional connectivity in the country, Patodia said.
It will add impetus for infrastructure development, especially in tier-2 and 3 cities which will help the Indian economy to remain less impacted by a global slowdown, he added.