While terming the Union Budget progressive, SAIL Chairman C.S. Verma on Saturday said the emphasis laid on the infrastructure sector would increase the demand for steel in the domestic market.
He said infrastructure sector initiatives had been given a major thrust to spur the domestic demand and ease the supply side constraints with an increase of investment of Rs.70,000 crore in 2015-16 over 2014-15.
Setting up of five ultra mega power projects and announcement of similar projects for roads, rail and ports along with rural and urban housing development would also provide a fillip to the economy. “All these measures will see a boost in demand for construction materials such as steel and cement, which have witnessed subdued growth on account of sluggish global as well as domestic market conditions in recent times,” Mr. Verma said. Under intense expectations, the Finance Minister had presented a budget that addressed crucial areas of the economy and had planned for building capacities and capabilities.
Five ultra mega power projects and announcement of similar projects for roads, rail etc. will give a fillip to the economy
Source: The Hindu
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