Financial schemes like interest subvention on term loan and working capital, upfront central financial assistance on CAPEX are expected from the budget. Increase in various export incentives, implementation of Basic Custom Duty (BCD) with exemption to solar manufacturers based in a Special Economic Zone (SEZ), implementation of PLI schemes are expected in the budget announcement.
Availability of adequate and easy financing options for projects under implementation as a part of the National Infrastructure Pipeline (NIP) is expected to be announced in the budget.
Construction companies and developers should be further incentivized to explore new technology platforms that will boost operational efficiency on ground, improve skill and job creation for the crores of labours on ground and mitigate delays in project timelines caused due to the pandemic”
– Asutosh Katyal, CEO and Founder, Captech Technologies
Dr Arunabha Ghosh , CEO and founder of Council on Energy Environment and Water .
“India’s Union Budget 2021 must promote a new social contract that commits to jobs, growth and sustainability along with a razor-sharp focus on tail risks, like pandemics and extreme climate events that can overturn years of progress in economic growth. The focus should be on investing in climate-resilient infrastructure and low-carbon technologies, revitailising MSMEs, ensuring food and water security, driving capital to accelerate India’s energy and electric mobility transitions, and exploring innovative financing models for disruptive technological innovation. Each of these opportunities also creates additional jobs. The resources for these interventions could come from a reform of energy and electricity subsidies, targeting those who need the support while increasing the competitiveness of industry. Similarly, decommissioning old and inefficient thermal power plants can be a huge source of savings to the public exchequer. Finally, developing a circular economy and strategic reserves for critical minerals can increase India’s energy and industrial security for the industries of the future.”