CMA Leadership on the Union Budget 2025-26

  CMA hails the Union Budget, announced under the leadership of Prime Minister Narendra Modi for its comprehensive focus on holistic and inclusive development. The Budget reinforces a transformative journey towards building a resilient economy for advancing India’s development goals. The various initiatives announced by the Government balance people’s aspirations with the future requirements for the Country’s economic growth. The focus on increased investments on infrastructure across States amplifies opportunities and avenues for the growth of the Cement sector. We appreciate the sustained core focus on infrastructure and reiterate our commitment to being partners in Nation’s progress.

The increased spending on large scale housing and infrastructure projects will drive demand for construction materials allowing capacity expansion and promotion of innovation in sustainable practices. We are certain that despite challenges these measures will support the Cement Industry in achieving a consistent CAGR growth rate of more than 6 per cent of installed cement capacity in the present financial year. Policy reforms in Budget 2025-26 signal a  reaffirmation of the Government’s intent to augment socio economic growth across core sectors.  

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

  The Budget presented by Finance Minister Smt. Nirmala Sitharaman is a forward-looking roadmap that will play a pivotal role in shaping the future of India’s cement industry, in line with the country’s vision for a Viksit Bharat by 2047. It prioritizes growth in key sectors such as infrastructure, manufacturing, and technology. The increased investment in technology will accelerate advancements in green cement solutions, driving both sustainability and innovation within the industry. Notable allocations, including ₹20,000 crore to foster innovation and ₹1.5 lakh crore in 50-year interest-free loans to states for capital expenditure on infrastructure development, are expected to significantly bolster growth in the core sectors, including cement sector.

He further added, “The Budget’s focus on a three-year pipeline of projects under the public-private partnership (PPP) model will incentivize private sector investment and catalyze a transformation in the infrastructure landscape. Additionally, the establishment of five National Centers of Excellence for skill development, as part of the 'Make for India, Make for the World' initiative, will ensure that India’s emerging workforce is well-equipped to meet the demands of a rapidly growing economy.   

Parth Jindal
Vice President, Cement Manufacturers’ Association
and Managing Director, JSW Cement Limited

 CMA hails the Union Budget, announced under the leadership of Prime Minister Narendra Modi for its comprehensive focus on holistic and inclusive development. The Budget reinforces a transformative journey towards building a resilient economy for advancing India’s development goals. The various initiatives announced by the Government balance people’s aspirations with the future requirements for the Country’s economic growth. The focus on increased investments on infrastructure across States amplifies opportunities and avenues for the growth of the Cement sector. We appreciate the sustained core focus on infrastructure and reiterate our commitment to being partners in Nation’s progress.

The increased spending on large scale housing and infrastructure projects will drive demand for construction materials allowing capacity expansion and promotion of innovation in sustainable practices. We are certain that despite challenges these measures will support the Cement Industry in achieving a consistent CAGR growth rate of more than 6 per cent of installed cement capacity in the present financial year. Policy reforms in Budget 2025-26 signal a  reaffirmation of the Government’s intent to augment socio economic growth across core sectors.  

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




 The Budget presented by Finance Minister Smt. Nirmala Sitharaman is a forward-looking roadmap that will play a pivotal role in shaping the future of India’s cement industry, in line with the country’s vision for a Viksit Bharat by 2047. It prioritizes growth in key sectors such as infrastructure, manufacturing, and technology. The increased investment in technology will accelerate advancements in green cement solutions, driving both sustainability and innovation within the industry. Notable allocations, including ₹20,000 crore to foster innovation and ₹1.5 lakh crore in 50-year interest-free loans to states for capital expenditure on infrastructure development, are expected to significantly bolster growth in the core sectors, including cement sector.

He further added, “The Budget’s focus on a three-year pipeline of projects under the public-private partnership (PPP) model will incentivize private sector investment and catalyze a transformation in the infrastructure landscape. Additionally, the establishment of five National Centers of Excellence for skill development, as part of the 'Make for India, Make for the World' initiative, will ensure that India’s emerging workforce is well-equipped to meet the demands of a rapidly growing economy.  

Parth Jindal
Vice President, Cement Manufacturers’ Association
and Managing Director, JSW Cement Limited
Union Budget 2025-26 and the Cement Industry in India

Ms Nirmala Sitharaman, Hon’ble Finance Minister, Government of India, tabled the Union Budget 2025-26 for India today. The focus of the Union Budget 2025-26 is on Sabka Vikas through balanced growth of all regions.

Figure 1 Four Powerful Engines for Growth in Union Budget 2025-26

Source: Union Budget 2025-26, https://www.indiabudget.gov.in/, accessed on February 1, 2025

It was highlighted that despite global headwinds, India has emerged as the fastest growing economy amongst all economies. The proposed development measures under Union Budget 2025-26 span ten broad areas focussing on Garib, Youth, Annadata and Nari (GYAN), mentioned below.

Figure 2 Ten broad areas focusing on GYAN

Source: Union Budget 2025-26, https://www.indiabudget.gov.in/, accessed on February 1, 2025

Budget aims to initiate transformative reforms across six domains, which will augment India’s growth potential and global competitiveness.

Figure 3 Transformative Reforms Across Six Domains

Source: Union Budget 2025-26, https://www.indiabudget.gov.in/, accessed on February 1, 2025

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