Pre- Budget Expectation: Ms. Kavita Shirvaikar, CFO and Whole Time Director, Patel Engineering Limited

12 Jan 2024 , 01:18 PM

Amid a global economic slowdown and uncertainties, India’s growth trajectory stands promising. Over the past five years, the government has placed a premium on fortifying our national infrastructure. The allocation for infrastructure spending, as a percentage of GDP, has surged from 1.13 percent in FY 2019-20 to a projected 3.3 percent of GDP in FY 2023-24. Foreseen reallocations indicate a strategic shift towards improving construction facilities, advancing green and sustainable energy sources, and enhancing urban infrastructure. This budget necessitates governmental focus on transitioning from carbon-dependent to energy-efficient policies, reinforcing a commitment to the sustainable and resilient economic development of the nation. We anticipate a budget dedicated to allocating and executing resources for comprehensive infrastructure development, wholeheartedly endorsing the sustained continuation of these initiatives in the upcoming year.