Post-Budget quote from Mr. Anand Sundaresan, Vice Chairman & Managing Director, SCHWING Stetter:
Investment in NHAI Projects, Port Connectivity, Smart City Development, North East Road Development Project and the 16 new Port Projects & port connectivity, are some of the initiatives which will definitely create market for the construction equipment industry. This was something which we were eagerly waiting for quite some time.
We only hope that these projects are implemented quickly so that the construction equipment industry will be benefitted fast. The budget clearly indicates governments intention towards policy reforms towards stabilising the economy and boost investment. We had expected that the retrospective amendment issued during the last budget will be rolled back, whereas again a committee has been appointed to look into this. We hope that this committee will put an end to this problem quickly to boost investor sentiments. There are many other issues which we expected will be brought out in this budget. We have to look at the fine prints. Then we will have more clarity on these issues.