EPC sector rejoices with Rs 97,000 crore allocation to construction sector in Budget’16

Finance Minister, Arun Jaitley has been hailed all across the country for his slew of schemes that he introduced in the Union Budget’16, his third budget. EPC industry is looking forward to hopeful times as Jaitley announced the allocation of Rs 97,000 crore in road and highway construction sector.

A leading company in the EPC sector, Dilip Buildcon has embraced this initiative with open arms, calling it a ‘commendable step taken by the Union Government.’ Bhopal-based Dilip Buildcon is one of the leading private sector road-focused Engineering Procurement and Construction (EPC) contracts across the Nation.

The initiative that the current Government has taken for flourishing the nation and gracing the beauty of Indian roadways is a commendable step taken towards making India a developed Nation, said the Chairman and Managing Director of the highways and road construction giant, Dilip Suryavanshi.

The allocated amount of money is just what the company was expecting this year from the concerned authorities and getting what one aspires to have, is a sign that the day is not far when you would accomplish your mission with your pre-determined vision, he added.

Dilip Suryavanshi further said, “For some, it’s more than what they expected just like us. So, we are looking forward to utilizing our forces and seize the government provided opportunities whenever the chance is given. The budget allocated this year is more than ever, which will cater to all kinds of road and highway-related needs of the country.”

The Finance Minister, Arun Jaitley said, “The Budget allocates Rs 55,000 crore for roads and highways. Additionally, the National Highways Authority of India will raise Rs 15,000 crore through bonds to finance projects.” The government has also allocated Rs 19,000 crore for rural road’s programme.

When asked a day prior the Union Budget 2016’s presentation in the Parliament on February 29, 2016, Road Minister Nitin Gadkari told a concerned media authority, “We expected over Rs 65,000 crores allocation on roads in the budget as against Rs 45,000 crore a year ago.”

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Jayshree Raja

Jayshree is a professional journalism graduate and has been contributing to various news/media outlet as a regular feature and editorial writer for over five years. Mostly, Jayshree thrives on business conglomeration and development, especially on the realty sector. His strategy includes in-depth research on current trends and provides analytical views on the pros and cons to expand reader's understanding further. In his spare time, Jayshree spends a significant amount of efforts in helping commoners expand their knowledge in business and finance.

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