Quote on FM’s announcement on the fresh measures under the Atmanirbhar Bharat 3.0 package

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Quote on FM’s announcement on the fresh measures under the Atmanirbhar Bharat 3.0 package

Vinayak K. Deshpande, Managing Director – Tata Projects Limited

“We feel that recently announced stimulus measures will definitely provide a spur to economic activity, especially across the construction and infrastructure sector. Newly announced measures such as replacing EMD with Bid Security Declaration will provide relief to contractors since it shall lower locked-up capital and reduce cost of Bank Guarantee. Additionally, the earnest money deposit and performance security on government tenders have been reduced to 3% instead of 5% to 10% earlier which is a positive move for the entire construction and infra sectors.

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The new production linked incentive scheme for ten key sectors will lead to enhanced manufacturing activity in India thereby augmenting need for creation of new and expanded manufacturing facilities.

 

With Rs 18,000 crore to be provided over and above the budget announcement to help 1.2 million houses be grounded and 1.8 million houses be completed – it will provide an impetus to construction sector and allied industries involved in construction materials.

Quote on FM‘s announcement on the fresh measures under the Atmanirbhar Bharat 3.0 package

The Rs 6,000 crore equity infusion to be done in NIIF debt platform for funding infrastructure is another positive step.”

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