Commendation of Budget Focus
Kolkata, 23rd July, 2024: Lalit Beriwala, Director of Shyam Steel Industries Ltd., has expressed strong approval of the Union Budget 2024-25. The Budget, presented by Finance Minister Nirmala Sitharaman, emphasizes inclusive economic progress with its focus on farmers, the poor, youth, and women. Beriwala highlighted how this budget lays the groundwork for employment generation, skill enhancement, MSME growth, and bolstering the middle-class economy.
Investment in Infrastructure
A key highlight of the budget is the substantial allocation of Rs. 11,11,111 crore for infrastructure. This significant investment, coupled with Rs. 1.5 lakh crore in long-term interest-free loans to states, promises to invigorate crucial sectors such as steel, cement, and real estate. The launch of Phase IV of the Pradhan Mantri Gram Sadak Yojana (PMGSY), investment in flood management and irrigation projects, and support for tourism development signal a balanced commitment to both rural and urban advancement. These initiatives are poised to create numerous job opportunities and ensure sustained growth.
Support for Urban and Tribal Development
The Budget’s emphasis on innovative urban initiatives and support for tribal communities through the Pradhan Mantri Janajattiya Unnat Gram Abhiyan reflects a forward-thinking approach to national development. Enhancements in MSME credit and tax structures further underscore the government’s commitment to fostering a robust economic environment. Beriwala lauded these measures, noting their potential to strengthen the foundation of India’s industrial and economic landscape.
Lalit Beriwala and Shyam Steel Industries
Lalit Beriwala is a prominent figure in the Indian steel industry, serving as the Director of Shyam Steel Industries Ltd. Established in 1953, Shyam Steel is a leading manufacturer of TMT bars in India. The company has a significant presence in the infrastructure sector, supplying high-quality steel products to segments like Indian Railways, Defence, and major construction projects. Beriwala’s leadership and the company’s commitment to quality have positioned Shyam Steel as a key player in the industry.
In conclusion, the Union Budget 2024-25 has garnered praise from industry leaders like Lalit Beriwala for its comprehensive approach to economic growth and development. The strategic investments and supportive measures outlined in the budget are expected to drive progress across various sectors, including steel and copper, and contribute to the nation’s overall prosperity.
