Budget 2025's Push For Capex And Infrastructure Growth Will Help Steel Industry
The reforms brought ahead in the Union Budget 2025 will help push the steel industry towards growth, the Indian Stainless Steel Development Association (ISSDA) said on Sunday. The apex industry body hailed the budget for focusing on infrastructure, manufacturing, and sustainability, and noted that was crucial for the sector’s development. Issuing a statement, the association said, “The Budget offers a balanced roadmap for long-term growth in the stainless steel industry.The focus on infrastructure, manufacturing, and sustainability will elevate the sector's economic contribution and reinforce India's position as a global leader in stainless steel production and innovation.” Notably, the Union Budget 2025 presented by Finance Minister Nirmala Sitharaman on Saturday announced a 10.08 per cent increase in capital expenditure to Rs 11.21 lakh crore and set aside Rs 1.5 lakh crore for state capital expenditure. Abhyuday Jindal, MD, Jindal Stainless, said that the budget offered a balanced roadmap for long-term growth in the steel industry. The executive said that with the hike in capex and state capex shows how infrastructure continues to be integral to the country’s growth. “The Rs 10 lakh crore Asset Monetization Plan (2025-30) will unlock funds for new projects, while increased public-private partnerships will drive private investment in transport, urban development, and energy.The digital skilling initiative aimed at equipping youth with Industry 4.0 technologies has the potential to revolutionise both manufacturing and services.In the stainless steel industry, where automation and advanced manufacturing are on the rise, these efforts will ensure a workforce capable of navigating rapid change and expansion,” Jindal added. The steel executive pointed out that the credit cards launched for micro-enterprises will help encourage innovation across sectors and boost start-ups, resulting in more employment generation. Debadatta Chand, MD and CEO, Bank of Baroda, added, "The capital expenditure of Rs 11.2 lakh crore announced will encourage investment and also help backward linkages to sectors like steel, cement, machinery etc. Working on the PPP mode across ministries to implement various projects is very progressive and will boost infrastructure capacity in the country." Also Read : Tax Relief, Easier Regulations, And More Funds: How Budget 2025 Has Enhanced Affordable Housing
The reforms brought ahead in the Union Budget 2025 will help push the steel industry towards growth, the Indian Stainless Steel Development Association (ISSDA) said on Sunday. The apex industry body hailed the budget for focusing on infrastructure, manufacturing, and sustainability, and noted that was crucial for the sector’s development.
Issuing a statement, the association said, “The Budget offers a balanced roadmap for long-term growth in the stainless steel industry.The focus on infrastructure, manufacturing, and sustainability will elevate the sector's economic contribution and reinforce India's position as a global leader in stainless steel production and innovation.”
Notably, the Union Budget 2025 presented by Finance Minister Nirmala Sitharaman on Saturday announced a 10.08 per cent increase in capital expenditure to Rs 11.21 lakh crore and set aside Rs 1.5 lakh crore for state capital expenditure. Abhyuday Jindal, MD, Jindal Stainless, said that the budget offered a balanced roadmap for long-term growth in the steel industry. The executive said that with the hike in capex and state capex shows how infrastructure continues to be integral to the country’s growth.
“The Rs 10 lakh crore Asset Monetization Plan (2025-30) will unlock funds for new projects, while increased public-private partnerships will drive private investment in transport, urban development, and energy.The digital skilling initiative aimed at equipping youth with Industry 4.0 technologies has the potential to revolutionise both manufacturing and services.In the stainless steel industry, where automation and advanced manufacturing are on the rise, these efforts will ensure a workforce capable of navigating rapid change and expansion,” Jindal added.
The steel executive pointed out that the credit cards launched for micro-enterprises will help encourage innovation across sectors and boost start-ups, resulting in more employment generation.
Debadatta Chand, MD and CEO, Bank of Baroda, added, "The capital expenditure of Rs 11.2 lakh crore announced will encourage investment and also help backward linkages to sectors like steel, cement, machinery etc. Working on the PPP mode across ministries to implement various projects is very progressive and will boost infrastructure capacity in the country."
Also Read : Tax Relief, Easier Regulations, And More Funds: How Budget 2025 Has Enhanced Affordable Housing
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