All in all, the focus would be on ensuring connectivity, enhancing ease of doing business and meeting India’s climate change targets,” said Talwar.ĪLSO READ | Budget 2022: Quick Guide on How the Budget Document is Prepared and PresentedĬonsidering the lower expenditure during the year compared to the budgeted estimates, it is natural to consider possibilities of lower budgetary allocations for the ministries, said Padma Priya J, partner and infra expert, government, Grant Thornton Bharat. Given this background, the expectations for the sector from this budget would be high. The National Monetization Pipeline and the PM Gati Shakti (National Master Plan for Multi-modal Connectivity) were certainly bold policy moves. “In the last FY, the government made a significant headway in granting priority to the infrastructure sector. Monetization of assets, particularly in the highway and railway sectors, is likely to be the central proposition for the sector, according to Sujjain Talwar, partner, Economic Laws Practice. The recalibrated medium-term fiscal consolidation path should accommodate the enhanced infrastructure spending relative to the original NIP targets,” EY India added. “Additional infrastructure spending in the last three years of the NIP should be undertaken in order to make up for the shortfall in the first three years of the NIP. We missed the targets for the first three years of the NIP calendar,” EY India said.
“For this purpose, NIP targets should be met. The Union Budget 2022, which will be presented in the Lok Sabha by finance minister Nirmala Sitharaman on February 1, should give a push to infrastructure projects under the National Infrastructure Pipeline (NIP), experts say, as it is crucial to economic growth.Īccording to EY India, a sustained momentum for infrastructure spending is critical to achieving a sustained medium-term growth of 7.0 per cent and above.
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