CMA Leadership on Interim Budget 2024-25

  The Cement Manufacturers’ Association (CMA) applauds the Government of India led by Hon’ble Prime Minister, Shri Narendra Modiji, for lending stability with growth to the Country for a Viksit Bharat.
We commend the Hon’ble Finance Minister Nirmala Sitharaman for the Interim Budget 2024-25 that focusses on social and economic inclusivity towards balancing the aspirations of the people with the requirements for India’s sustainable growth.
This Budget retains its intent to continue the rapid growth momentum keeping a sharp focus on medium and long term vision. The strong thrust on research and innovation with infrastructure development is a move in the right direction. The sustained emphasis on good governance will also help in further Ease of doing business and strengthen the foundations for an Atmanirbhar Bharat.
The Cement Manufacturers’ Association welcomes the announcement for Cement corridors under the Railways that would help improve logistics efficiencies and boost multimodal connectivity. We reiterate our commitment to being partners in progress in the Nation’s evolving growth story. 

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

  At the core of the announced Budget are speed, innovation and scale, which are indeed driving India’s economic growth engine. The Cement Manufacturers’ Association (CMA) resonates with the Hon’ble Prime Minister Shri Narendra Modiji’s vision and the Government’s intent to strengthen and boost India’s progress by creating sustainable business value chains that lend solidity and robustness to India’s socio-economic fabric.
The Interim Budget 2024-25 presented by the Hon’ble Finance Minister augurs well for Bharat, one of the fastest growing economies of the world. There is a continued emphasis on inclusive growth embracing health, infrastructure development, rural upliftment, enterprise, research and innovation that stand to consolidate Government’s efforts for making India a formidable player in the global economic order.
The Cement sector applauds the Budget. CMA welcomes the announcement by the Hon’ble Minister to build Railway corridors - for Cement, Mineral and Energy sectors – that would boost the core sectors. The allocation to key sectors such as housing are steps in the right direction as these would both foster growth with employment. The Cement sector applauds the Hon’ble Finance Minister for providing a clear direction for the Country’s future growth. 

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

Key Highlights and Synopsis of Interim Union Budget 2024-25

The Country has worked proactively with ‘Sabka Saath, Sabka Vikas and Sabka Vishwas’ as its mantra, through which the challenges to the economy have been overcome through structural reforms, pro people programmes, social and geographical inclusivity.

Conditions have been created for more opportunities for employment and entrepreneurship. India has taken strides towards ‘Atmanirbhar Bharat’, committed to ‘Panch Pran’, and laid foundations for ‘Amrit Kaal’.

Development programmers have targeted each household and individual, through ‘Housing for all’, ‘Har ghar jal’, electricity for all, cooking gas for all, bank accounts and financial services for all.

The current focus on development is all-round, all-pervasive, and all-inclusive (सर्वांगीण, सर्वव्यापी और सर्व-समावेशी). The Government is working to make India a ‘Viksit Bharat’ by 2047.

With emphasis on social justice, four areas, namely, ‘Garib’ (Poor), ‘Mahilayen’ (Women), ‘Yuva’ (Youth) and ‘Annadata’ (Farmer) have been identified. Their empowerment and well-being will drive the country forward.

Figure 1 Four areas for social justice

Source: Union Budget 2024-25,, accessed on February 1, 2024

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