CMA Leadership on Union Budget 2023-24

  The Cement Manufacturers' Association (CMA) welcomes the Union Budget 2023-24 and we would like to convey our sincere appreciation of the Hon'ble Prime Minister, Shri Narendra Modi and Hon'ble Finance Minister, Smt Nirmala Sitharaman, for a progressive, growth oriented and inclusive first Budget of Amrit Kaal propelled by the Saptarishi priority areas. The Cement Industry in India is delighted for the future ready blueprint provided by the Government of India with an infrastructure thrust, a vision for sustainable cities and transformative green growth. We would expect the socio economic momentum to be accelerated through the identification of infrastructure capital investment as a driver of growth and jobs. We acknowledge the exemplary efforts of the Government of India that make the Indian economy robust and resilient. The Indian Cement Industry is committed to and aligned with the national priorities. 

K C Jhanwar
Past President, Cement Manufacturers’ Association
and Managing Director, Ultratech Cement Limited

  The Cement Manufacturers’ Association (CMA) commends the first Union Budget 2023-24 in Amrit Kaal that dexterously nurtures an economy anchored in growth with stability. An increased focus of the Budget to build a technology driven, knowledge based economy, a robust financial sector coupled with an infrastructure thrust lend solidity and robustness to the Nation. Being amongst the most energy efficient and with the least carbon footprint in the Cement sector globally, the Indian Cement Industry is committed to building a sustainable growth ecosystem driven by the principles of circular economy and resource conservation. We are confident and believe in the strong growth future of our Nation being scripted deftly under the leadership of our Hon’ble Prime Minister, Shri Narendra Modi. The Indian Cement Industry reiterates its commitment to being a continued partner in the Nation’s progress.  

Neeraj Akhoury
President, Cement Manufacturers’ Association
and Managing Director,
Shree Cement Limited

  The Cement Manufacturers’ Association (CMA) commends the first Union Budget 2023-24 in Amrit Kaal that dexterously nurtures an economy anchored in growth with stability. An increased focus of the Budget to build a technology driven, knowledge based economy, a robust financial sector coupled with an infrastructure thrust lend solidity and robustness to the Nation. Being amongst the most energy efficient and with the least carbon footprint in the Cement sector globally, the Indian Cement Industry is committed to building a sustainable growth ecosystem driven by the principles of circular economy and resource conservation. We are confident and believe in the strong growth future of our Nation being scripted deftly under the leadership of our Hon’ble Prime Minister, Shri Narendra Modi. The Indian Cement Industry reiterates its commitment to being a continued partner in the Nation’s progress.  

Mr Neeraj Akhoury
President, Cement Manufacturers’ Association
and Managing Director,
Shree Cement Limited

The Union Budget 2023-24 of India is the first budget in the Amrit Kaal and will build on the foundation of previous budgets and the blueprint drawn for India at 100 years. The Indian economy is estimated to grow at 7% in financial year 2022-23 and is the bright star as the fastest growing economy amongst the major global economies despite global slowdown caused by Covid-19 and a war. The vision for the Amrit Kaal is based on a technology driven and knowledge based economy having strong public finances and a robust financial sector. This will be achieved through Jan Bhagidari through Sabka Saath Sabka Prayas.
Key Highlights

The economic agenda for achieving the Amrit Kaal vision is based on three focus areas, which are as follows.

Figure 1 Focus areas for the achieving the Amrit Kaal vision

Source: Union Budget 2023-24, https://www.indiabudget.gov.in/, accessed on February 1, 2023

To achieve the three focus areas, the following four opportunities have been identified as transformative during the Amrit Kaal.

Figure 2 Opportunities identified as transformative during the Amrit Kaal

Source: Union Budget 2023-24, https://www.indiabudget.gov.in/, accessed on February 1, 2023

The Union Budget 2023-24 outlines the following seven priorities, which complement each other and act as the Saptarishi guiding India through the Amrit Kaal.

Figure 3 Seven priorities identified as the Saptarishi

Source: Union Budget 2023-24, https://www.indiabudget.gov.in/, accessed on February 1, 2023

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