Union Budget 2023 | Reaction from Bhupesh Arora, Business Head, Digital Energy, Schneider Electric India
The Union Budget 2023 demonstrates the government’s commitment to building and expanding the infrastructure sector to boost the economy. We welcome the government’s move to announce an enhanced outlay on capital investment by 33.4% to Rs. 10 lakh crore, for the infrastructure sector. This will result in more employment creation, increased manufacturing capacities, and the energy sector’s active participation in nation building. The budget focuses on states and cities to encourage urban planning reforms and making cities more sustainable. We applaud the government’s investment of Rs. 35,000 crore to achieve energy transition and net zero goals, and we note that green growth is one of the government’s seven priorities.
We believe the move to create a new infrastructure finance secretariat, which will facilitate the private sector’s investment in infrastructure projects, will play a crucial role. As the economy is expected to grow at a 7% annual rate, we feel this budget has taken all of the necessary steps to continue the growth momentum. We congratulate Union Finance Minister Smt. Nirmala Sitharaman for taking the courageous step of presenting a budget focused on growth.
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