Hari Mohan Bangur, Managing Director of Shree Cement, unfolds his plans and his take on the economic situation in the country.
While talking about the expansion strategy and the target in the coming few years, he said, the company’s current installed capacity is 41.9 million tonnes per annum (mtpa) and likely to reach at least 55 mtpa by March 2023. It would go up further to 75-80 mtpa in the next six years. He further added that for the next three years, the capex will be Rs 9,000 crore.
The top Indian philanthropists have launched India Climate Collaborative (ICC), aimed at connecting and strengthening the Indian climate community. This marks the first ever collective response by Indian industry leaders, such as Ratan N Tata, Anand Mahindra, Rohini Nilekani, Nadir Godrej, Aditi and Rishad Premji, Vidya Shah, and Hemendra Kothari, for an effective action “towards a shared climate goal”.
The Department for Promotion of Industry and Internal Trade (DPIIT) has come out with quality control norms for certain steel items and cables, a move which will help in containing import and production of sub-standard products in the country.
The rolling target included in the Union Budget for FY20 had placed the fiscal deficit for the Government of India (GoI) for FY21 at 3% of GDP.
ICRA believes that the fiscal boost should be provided through higher expenditure, rather than through a tax cut. According to ICRA, the Union Budget for FY21 should prioritise infrastructure spending, which would boost the core sectors of the economy and create a higher multiplier effect on the economy. Higher capital spending would also help bridge the large infrastructure deficits in some areas, thereby easing logistical challenges faced by various sectors.