Vinayak Pai, CEO & MD of Tata Projects, applauds the Finance Minister’s budget for its substantial infrastructure investment, essential for India’s growth. He highlights the Rs 11.11 lakh crore allocation for capital expenditure and the proposed market-based financing framework as key drivers for sector expansion and national development.
“The Finance Minister’s budget reaffirms the government’s commitment towards infrastructure development, which is crucial for India’s economic growth. The allocation of Rs 11.11 lakh crore for capital expenditure, representing 3.4 per cent of our GDP, signals a strong foundation for the infrastructure sector expansion. We view this as an opportunity to contribute significantly towards nation-building. The government’s focus on promoting private investment through viability gap funding and enabling policies align perfectly with our vision for contribution to the ‘Make in India’ initiative. We are particularly excited about the proposed market-based financing framework, which could unlock new avenues for project funding.
Additionally, the emphasis on upgrading 1000 industry training institutes is a game-changer and further aligns with our ongoing initiative on rapid skill development such as the ‘Skill Shakti and Nirman Nayak.’ It addresses the critical need for skilled workforce in our sector, and we’re eager to collaborate in shaping the curriculum that meets industry demands.
Furthermore, the government’s focus on increasing women’s workforce participation is encouraging, and Tata Projects is committed to supporting this through our DEI programs such as ‘On Her Shoulders’ and ‘Building Safe Spaces.’ The sustained focus on infrastructure over the next five years offers a stable outlook for the sector. Tata Projects is leveraging these opportunities to drive predictable project delivery through innovation and sustainable practices in infrastructure development, contributing to India’s development goal of becoming a developed nation by 2047.”