NEW DELHI: Major global mobility company Alstom expects the Indian government to maintain focus on infrastructure development in the next budget with a larger allocation for capital expenditures.
Alain Spohr, Managing Director of Alstom India and South Asia, said the expectation of higher capital spending (capex) is in line with the priority given to infrastructure projects by the government, such as National Infrastructure Pipeline and PM Gati Shakti (National Master Plan for Multimodal Connectivity).
“A higher capital outlay would be ideal to encourage rail modernization plans for infrastructure creation, as well as to replace passenger and freight rail fleets. The special emphasis on multimodal connectivity with enhanced opportunities under PPP mode is expected to drive activity in this sector, “Spohr said, detailing his expectations for the Union’s budget for 2022-23.
Alstom also said that railways can be at the forefront in providing a boost to the central government’s Make in India program, incentivizing foreign investment and providing a major boost to the economy.
“We are confident that this year’s budget will be as progressive as last year, where the government allocated a record sum for capital expenditures,” Spohr said.
“We agree with the finance minister that connectivity is the essence of the economy and improving interurban connectivity is essential for the formation of smart cities and for boosting the pace and volume of the economy. We look forward to additional support for the introduction of new technologies such as Metro Lite and Metro Neo to promote mobility in Tier II and III cities ”, he added.
The company, which has a large presence in the rail and underground transport networks, is hopeful that the government will improve the ease of doing business in India as there is huge potential for growth.
The introduction of production-linked incentives for rail infrastructure manufacturers and exporters promoting Make-in-India will be encouraging, along with accelerated project implementation and supporting the manufacturing ecosystem, Spohr said.
Policy certainty and adequate government support for project implementation can greatly enhance private investment in the sector, he said.
With the ambition to become the world’s largest green railways, moving towards achieving net zero carbon emissions, “we are hopeful that measures to promote energy-efficient and carbon-friendly technologies, processes and practices will be included in the next budget, “the company said. He said about his 2022-23 Budget expectations.
Promoting a level playing field for domestic and foreign parent companies, which have invested substantially in India and contribute to economic growth, will attract additional investment to the country. The government should consider supporting companies investing significantly in India, conducting cutting-edge R&D and executing large railway development projects to move forward and make India an export hub, Alstom said.
These measures will help India become self-sufficient, or atmanirbhar, and achieve its aspiration of becoming a $ 5 trillion economy, Spohr added.
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"खाना विशेषज्ञ। जोम्बी प्रेमी। अति कफी अधिवक्ता। बियर ट्रेलब्लाजर। अप्रिय यात्रा फ्यान।"