Mohammad Athar (Saif), Partner and Leader Capital Projects and Infrastructure Development, PwC India

Mohammad Athar (Saif), Partner and Leader Capital Projects and Infrastructure Development, PwC India  

“A budget focused on job creation and enabling India’s competitiveness in manufacturing and services by promoting urban-industry synergies and providing for quality infrastructure

· Allocation of INR 11 lakh 11 thousand crore for infrastructure – at 3.4% of GDP, the highest allocation till date – reflects the continued focus on enabling the competitiveness of India’s manufacturing sector. The funding support for the critical nodes (industrial cities) of the Amritsar-Kolkata Industrial Corridor and Vizag-Chennai Industrial Corridor is a specific impetus. In addition, the budget focuses on developing new industrial parks and ecosystem enablers for manufacturing. NICDC will promote 12 new industrial zones and inclusive development in new regions of the country. The challenge of industrial housing in peri-urban areas is being solved for by promoting worker housing in PPPs.

· The focus on economic and transport planning will enable cities to continue as engines of economic growth and meet the growth aspirations of the country. Industrial parks in close to 100 cities by leveraging the town planning scheme will enable industry-urban synergy and promote harnessing of the economic potential of cities. This will reduce pressure on mega cities in India and set the tone for growth in Tier 2 and Tier 3 cities. The focus on developing ToD plans for 14 cities will help in leveraging transport infrastructure such as metros, airports and railways for economic development. Promoting creative rejuvenation of Indian cities will put a greater focus on quality of life and promote new jobs in cities.

· Credit guarantee scheme and e-commerce export hubs for MSMEs will enable demand creation and boost India’s aspiration of achieving USD 1 trillion exports by 2030, driven by MSMEs.

· The focus on religious tourism and temple corridors will enable India to position itself as a leader of religious tourism. Also, the focus on historical places such as Nalanda and states like Orissa will enable new investments in tourism.”

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