Union Budget 2021-22
Infuse more capital, boost infrastructural development in Budget to push growth in building material industry : MD Aparna Enterprises Ltd
Mumbai/IBNS: The building material industry is one of the few industries on a faster recovery trajectory and in fact the sector poised to witness 5 per cent to 10 per cent growth in 2022 and in order to continue with this growth, greater efforts from the government in the upcoming budget is called for, said Ashwin Reddy, Managing Director, Aparna Enterprises Limited.
Stating the key expectations of the building materials and allied industries from the Union Budget, he said the focus should be on fastening infrastructural development and infusing more capital into this segment to push the sector's growth, he stated.
Government should introduce policies like single window clearance, uniform taxation, structured interest rates and quick implementation of schemes announced under the “Atmanirbhar Bharat” programme, he said.
This will improve the overall ease of doing business in the segment and open up new avenues of opportunities for the industry.
"The budget should also look at introducing new financing channels both from regular banking routes, NBFCs and private equity. Financing alternatives should be made available for all tenures – short, medium and long term. Additionally, reduction in income tax rates will increase consumer spending potential and this in turn can improve the growth prospects of the industry," he noted.
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