Kavita Shirvaikar
Wholetime Director and CFO, Patel Engineering Limited
What are your views on the Indian infrastructure industry and government spending on the sector?
In the realm of infrastructure development, the government is making significant efforts as it injects substantial financial resources and efforts into various projects. The government’s strategic focus on infrastructure spending is expected to not only stimulate economic activity but also foster innovation, ultimately building a society that is more resilient and connected, ready to tackle future challenges. To maximise the value of capital investment, integrated infrastructure development is in the spotlight. The PM Gati Shakti National Master Plan, a pathbreaking initiative of the Government of India, paves the way for inter-ministerial projects. This in turn will provide efficient connectivity which will be driven by various schemes such as the National Infrastructure Pipeline.
The scheme has a target expenditure on infrastructure development of over USD 1.8 trillion till 2025. The Government of India has upgraded infrastructure development in the last few years by increasing the infrastructure budget by about 75 per cent and by implementing policies to encourage private sector participation. Looking ahead, the future is bright with projections pointing to a robust growth rate in infrastructure investment between FY21 and FY26, with a compound annual growth rate (CAGR) of 11.4 per cent. This surge in government spending on urban infrastructure will further bolster the development and transformation of our cities, paving the way for a more prosperous and sustainable future.
How do you expect the hydropower industry and the irrigation sector to evolve in India for the next few quarters?
This story is from the August 14, 2023 edition of Dalal Street Investment Journal.
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This story is from the August 14, 2023 edition of Dalal Street Investment Journal.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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