Builders expect budget to boost infrastructure sector, praise FM

Jamshedpur: Members of Builders� Association of India (BAI), Jamshedpur Centre, today congratulated Union Finance Minister Arun Jaitley for coming out with a growth oriented budget within 40 days of taking charge.

�Construction Industry, particularly Infrastructure Sector has been given its due share, upto an extent, by the Finance Minister. The introduction of �Infrastructure Investment Trust� and �Real Estate Investment Trust� (REIT) will be a game changer, for both the industry, as finance will be available for longer term without much of paper work hassle of Banks / Financial Institutions. This positive feel is evident from the upward movement of share price of infrastructure and real estate companies, and also reflected from the reading of Sensex Data,� said Sushanta Kumar Basu, president, Builders� Association of India, while reacting to the budget.

Dr. Anand J. Gupta, spokesperson of BAI echoed the views of Sushanta Kumar Basu. He said, �The increase of �housing loan interest exemption from Rs.1.5 lakh to Rs.2.00 lakh� coupled with allocation of Rs 4000 crore for construction of low cost affordable housing will push the demand of housing and will revive the industry. The allocation of Rs 7060 crore for construction of 100 Smart Cities will change the face of the country.�

B Seenaiah, past president, BAI said the budget allocation of Rs 37,000 crore for road sector for both construction of new Express ways and development of industrial corridors, will rejuvenate the infrastructure industry. He said the allocation of Rs.11,000 plus crore for development of Port will facilitate movement of goods at much faster pace.

Mahesh M Mudda, honorary general secretary of BAI has also looked at the budget as a positive one. He said the redevelopment of slums with �funds from Corporate Social Responsibility� (CSR) will help the housing industry as also keep the cities slum free. He appreciated the Finance Minister for his many innovative concepts in the budget.

�The general feeling of BAI members are the budget will bring restoration of already stalled infrastructure projects, which will ultimately bring growth to the Indian economy as Construction Industry has huge backward and forward linkage with a host of other industries. This industry also capable of creating jobs for the unemployed youth to a greater extend,� said AK Srivastava, chairman, BAI.