“A blueprint budget with a nice touch of green! A bold one with a massive hike in public investment will be the booster dose to restart corporate investments. The infrastructure allocation with a focus on technology will generate employment & help transform tomorrow!”
Prashant Ruia, Director – Essar Capital
“The Union Budget 2022 is growth-oriented and futuristic, with a focus on inclusive development, productivity enhancement, energy transition, climate action and financing of investments, which will further take forward India’s growth story. PM Gati Shakti plan demonstrates a very significant push on infrastructure that will not only boost the economy but will also create job opportunities, especially for the youth of our nation. The capital expenditure outlay being increased by 35.4 per cent to Rs 7.50 lakh crore from Rs 5.54 lakh crore is massive and will in turn encourage private sector investment. The budget overall touches upon all important elements of the economy to achieve sustained growth rate in the coming years.”
Sanjay Palve, Senior Managing Director – Essar Capital
“The budget, guided by the hon’ble PM’s Gati Shakti master plan, will facilitate economic recovery, especially amidst the persistent pandemic. Public investment to modernise overall infrastructure in the Nation is expected to enable efficient logistics and boost manufacturing. With plans to develop 100 PM Gati Shakti cargo terminals in the next three years, the government has formulated an exceptional vision to boost EXIM competitiveness, which will help accelerate the economy and create more jobs and opportunities for the youth. Overall it lays foundation for a progressive and a prosperous Bharat.”
Rajiv Agarwal, Operating Partner (Infrastructure) – Essar and Managing Director – Essar Ports
“The Union Budget 2022 is a welcome move and continues to provide impetus for growth especially in the energy and power sector. Two of the four pillars of development by the government include energy transition and climate action, which are extremely important for the sustainable progress of the economy. The low carbon development strategy shows the strong commitment of the Government towards a greener future. The allocation of Rs.1400 cr towards hydro and solar projects is in line with the government’s ambitious vision of increasing the renewables installed capacity by 280 GW by 2030. The additional allocation of Rs. 19,500 cr for PLI incentives in solar module manufacturing and conversion of coal into chemicals, are bold steps taken by the our government in anticipation of the shift in the energy sector with a strong focus on ESG and renewables going forward. Also, the move to frame a battery swapping policy for EV charging stations and to issue sovereign green bonds for funding green infrastructure will provide a big boost to the economy by reducing carbon intensity and will lead to positive environmental and climate effects.”
Kush Singh, CEO – Essar Power
“Over all it is an excellent budget with long term focus on growth and manufacturing in India. It is also in line with the positive sentiment that has been built up post the second wave of the pandemic. The strong economic impetus provided in the budget will ultimately boost the energy sector. Government’s action plan on green energy and clean mobility re-enforces its strong commitment and efforts to move towards a clean and green economy. Also, the focus on digital payments and introduction of block chain -backed digital currency is a bold and historic step. We also welcome the government’s PM Gati Shakti Scheme that will enable seamless multi modal connectivity and boost the logistic sector”
Pankaj Kalra, CEO – Essar Exploration & Production Ltd
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