The Indian construction material sector plays a pivotal role in fuelling the nation's infrastructure boom. Rising urbanisation drive and real estate growth along with increasing disposable income are the main reasons for the surge in construction materials in India. In the Interim Union Budget 2024-25, capital investment outlay for infrastructure has been increased by 11.1 per cent to ₹11.11 lakh crore (USD 133.86 billion), which would be 3.4 per cent of the GDP.
The Smart Cities Mission and Housing for All programmes have benefited from these initiatives. The Smart City project is aiming to build 100 smart cities. In the Interim Union Budget FY24-25, it was mentioned that the Pradhan Mantri Awas Yojana (Grameen) is close to achieving the target of 3 crore houses, with an additional 2 crore targeted for the next five years. India is urbanising rapidly. By 2036, its towns and cities will be home to 600 million people or 40 per cent of the population, up from 31 per cent in 2011 with urban areas contributing almost 70 per cent to the GDP.
Esta historia es de la edición July 1, 2024 de Dalal Street Investment Journal.
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Esta historia es de la edición July 1, 2024 de Dalal Street Investment Journal.
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