What are your views on the recently concluded Union Budget?
We welcome the progressive and growth-oriented Union Budget presented by the Finance Minister for 2022-23. India is poised to regain its title of the fastest-growing large economy with a 9.2 per cent GDP growth estimated for the coming year. With an enhanced capital expenditure outlay of 35 per cent as compared to last year, core infrastructure segments including railways and urban transport stand to benefit and will have a huge multiplier effect on the economy.
The highlight of the budget was the announcement to introduce 400 new Vande Bharat trains over the next three years, the introduction of the state-of-theart KAVACH TCAS signalling systems over 2,000 km of the railway network, larger investments to provide for sustainable and integrated urban transport systems. The total budget estimates of Rs 23,875 crore for MRTS & Metro railway projects will incentivise faster implementation of projects and the standardisation of metro design systems will provide the much-needed stability for manufacturers.
Outlook for Alstom India
• Alstom will continue strengthening its contribution to socio-economic impact and ESG (Environmental, Social, and Governance) goals.
• By 2025, Alstom aims to reach 85 percent localisation on all domestic projects and increase digitalisation of processes by 20 percent.
• The company will accelerate its move to maximum usage of Green/ Renewal Energy in Industrial operations and 100 percent of newly developed solutions will be ecdesigned.
• Through its CSR initiatives, the company plans to reach 100,000 direct beneficiaries.
This story is from the Feb 2022 edition of The Machinist.
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This story is from the Feb 2022 edition of The Machinist.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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