Growth Oriented Budget with focus on Infrastructure and Digital Development

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    BY- Deepak Chandnani, Executive Chairman Designate, Worldline South Asia & Middle East

    “The Finance Ministry has presented a growth-oriented budget with a focus on infrastructure and development. The creation of a unified logistics platform and the development of 100 new cargo terminals in the next three years are significant steps in improving the supply chain ecosystem in the country.

    Many measures have been around digital adoption and ease of doing business initiatives which will improve business efficiency and go a long way in driving economic growth. The Government has reiterated its commitment towards Housing for All by allocating Rs 48000 crore towards this scheme, around the same as last year.

    Interventions to improve credit to the pandemic afflicted MSME sector including the hospitality industry is also a step in the right direction. Infrastructure status given to Data Centers will provide a huge boost to the fast-evolving digital environment of the country. The FM has said that the SEZ Act will be replaced with a new law and we will be waiting for further details given the significant impact of this on the commercial real estate sector.

    However, the government could have given further boost to the housing sector given the strong multiplier effect the sector has on the economy. The sector would have benefitted immensely by demand boosting tax benefit measures. The housing sector has made a substantial recovery from the pandemic lows and due attention here would have gone a long way in sustaining the growth momentum.”

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