Budget 2020 Expectations: What infrastructure sector seeks from Nirmala Sitharaman
Budget 2020: The infrastructure sector is expecting a special development fund from Nirmala Sitharaman on February 1.
Budget 2020: The Finance Minister Nirmala Sitharaman is going to present the Union Budget (#BUDGET2020ZEE) on the day after tomorrow. Various sectors of India Inc are looking at the big presentation with high hopes. The infrastructure sector is expected to become the major beneficiary of Budget 2020. Ahead of the Budget 2020, here is what key players of the infrastructure sector are expecting from FM Sitharaman:-
Speaking on the need for push to infrastructure sector Sunil Kanoria, Co-founder and Vice Chairman at SREI Infrastructure Finance said, "The government of India must announce some big-ticket announcement for infrastructure sector as it would boost job market and to some extent help government contain the rising NPA (Non-Performing Asset) of the lending institutions." Kanoria said that finance minister Nirmala Sitharaman has recently announced NIP worth Rs 102 lakh crore that is going to remain in focus of the budget and the infrastructure sector is expecting some big announcement from Nirmala Sitharaman in budget 2020.
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On what could be the possible announcement that the infrastructure sector is expecting from Nirmala Sitharaman, Kanoria said, "The Government of India may announce Special Development Fund and the entire infrastructure sector players are expecting some announcement in this regard in the upcoming union budget." Kanoria said that ever since the Modi Government took over in New Delhi in 2014, they have been focusing on the infrastructure sector as the principal driver of the economy and they are planning to invest over Rs 100 lakh crore in the infrastructure sector in next five years. The infrastructure is expecting special development fund in the budget as the Modi Government has recently announced the AIF (Alternative Investment Fund) worth Rs 25,000 crore for the real estate sector. They are of the opinion that thrust to infrastructure sector would boost the banking sector and the allied business as well because infrastructure has a wide network with other industries and we have witnessed that during 2016-18 when road construction was in full swing.
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