Five mega power projects positive for copper industry

The government's proposal to set up five new 4,000 MW ultra mega power projects, entailing investments of around Rs 1 lakh crore, is a big positive for the copper industry, said International Copper Association of India (ICA).
"The railway budget had set up a roadmap for reforms and the tone for the Budget has followed more or less a similar pattern," ICA India Managing Director Sanjeev Ranjan said.
The government has realised that there is a very strong case for improving the global competitiveness of India by focusing on infrastructure, ease of doing business by bringing in regulatory reforms to cut bureaucracy and improve existing taxation norms to generate jobs, he said.

Though the budget did not have anything specific for real estate, the clarity that there will be no capital gains tax on contribution to REITS, is positive, Ranjan said.
Consolidation and improvement in operations of railways by bringing in better technology will also be a big positive for the copper industry, he said.
"We are happy with the government sticking to its vision of 'Housing for All' by 2022, which means it will build 60 million homes -- 40 million in rural areas and 20 million in urban areas -- by allocating Rs 22,407 crore, for taking measures in housing and urban development across the country in 2015-16. This will be a big boost for our building wires for residential application," he added.