The Union Budget 2023-24 is a pro-growth green budget, having a strong focus on green growth that will act as a key motivator for businesses to accelerate their shift towards net-zero goals and boost sustainable growth. There is a significant push towards capital expenditure, which will further attract private investment.
With the government’s core focus on urban development, infrastructure investment, employment creation and green growth, the intentions are clear – to steer the India journey towards sustainable development.
The Budget has also captured important aspects such as a target to reach green hydrogen production of 5MMT by 2030, implementing many programs for green growth across various economic sectors as well as creating green jobs, allocation of Rs 10,000 crore/year investment on urban infrastructure development, and Pradhan Mantri Kaushal Vikas Yojana 4.0 that will further fuel economic growth and empower our youth.
Overall in my view the Budget will serve as the blueprint for making India self-reliant, and drive long-term economic growth with ecological sustainability.
CEO Asia Pacific and India Region, Saint-Gobain
Chairman, Saint-Gobain India