Budget Reaction: Mr. AK Tyagi, CMD, Nuberg Engineering Limited
The Finance Minister has presented a visionary expansionary budget and I will rate it as 9 on 10. The FM’s focus on India@100 is significantly focused on the goal of complementing macro-growth with micro-all-inclusive welfare, digital economy and FinTech, tech-enabled development, energy transition, and climate action.
The seven pillars on which the budget rests are well thought out. Of the seven, we at Nuberg EPC are excited about the focus on Energy Transition and Financing of investments. These combined with the earlier announced focus on the USD 5 trillion economy will create a huge number of opportunities for the country and for organizations in our industry.
I would also like to highlight the emphasis on a) public investment to modernize infrastructure over the medium term, leveraging the tech platform of Gati Shakti via a multi-modal approach, b) Self-reliant defence sector with 68% of capital procurement budget in defence to be earmarked for the domestic industry in 2022-23, c) Capital expenditure being stepped up to Rs 7.5 lakh crore, and d) Blended fuel being encouraged with custom tariff on unblended fuel. Issue of Green Bonds is another excellent step, as it will enable the move to the hydrogen economy.
I congratulate Prime Minister Modi and The Finance Minister for this excellent budget 2022.
Nuberg EPC (www.nubergepc.com) has delivered over 60 turnkey projects across 32+ countries in the past 25+ years to become a leader in the EPC-LSTK industry. The company offers single-point responsibility solutions and services for the engineering and construction of industrial plants from concept to commissioning. It is one of the world’s fastest-growing companies in its specialization, with an internal team of more than 300 engineers that provides global competitiveness. Nuberg EPC’s specialized heavy fabrication facility located in Gujarat gives the company a unique quality and time advantage. Additionally, Nuberg EPC’s research & development facility in Sweden has developed in-house process technologies that have been successfully applied in large-scale industrial plants worldwide. Nuberg EPC serves in the chemicals & fertilizers, hydrocarbon, steel, and nuclear & defence industries worldwide.
