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Budget packs a punch for infrastructure sector: Ajit Gulabchand

Chairman and Managing Director of HCC says huge expenditure planned for the sector is a welcome move

Ajit Gulabchand 

Ajit Gulabchand
Ajit Gulabchand

The finance minister's acknowledgement that spending on infrastructure spend was inadequate is greatly welcome.

The has given a push to infrastructure and the huge expenditure planned is a welcome move for the sector..

Read our full coverage on Union Budget The promise to create and deepen the debt bond market in India so private sector can raise long term money is a step in the right direction, and addresses a long felt unfulfilled need.

A Bill to help settle disputes, the amendments to the Arbitration Act and the Procurement Law,will go a long way in making Contracting robust.

Recognising and taking on the sovereign risk on PPP concessions, where the risks were earlier cast upon the private sector is a step in the right direction.

India continues to very highly taxed, after taking all applicable taxes it works out to be 46%. The first step to reduce this has started, by reducing corporate tax in the coming year.

Lending sector reforms have also been initiated by creating a monetary policy committee in the RBI and starting a separate debt management agency will aid in bringing financial sector reforms.

Overall a good and in the right direction, no big bang announcements, however, outcome will depend on its implementation according to schedule.

First Published: Sun, March 01 2015. 17:48 IST