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Budget 2021 CXO Corner - Infrastructure projects need liquidity, tax cuts, says Himanshu Chaturvedi of Tata Projects
Budget Wish List: As we are only four days away from the Union Budget 2021, the demands and expectations from all sections of society are pouring in be it a common man or industry. In chat with Zee Business, Himanshu Chaturvedi, Chief Strategy Officer of Tata Projects tells what he wants from this Budget announcements
Budget Wish List: As we are only four days away from the Union Budget 2021, the demands and expectations from all sections of society are pouring in be it a common man or industry. In chat with Zee Business, Himanshu Chaturvedi, Chief Strategy Officer of Tata Projects tells what he wants from this Budget announcements.
Chaturvedi said that higher number of projects with continued liquidity and corrections in taxes is what he is expecting in this year’s budget announcements.
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In the last budget, the government announced Rs 130 lakh cr of national infrastructure pipeline. These projects were to be executed between the Centre, states and private sector. These projects are in the concept development and implementation stages.
It appears that the states and private sector have been facing financial problems in executing projects. If the central government takes over some of these projects, that will be very helpful for the economy, he said.
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#BudgetWishlist : इंफ्रास्ट्रक्चर प्रोजेक्ट्स को लिक्विडिटी और टैक्स की राहत की जरूरत: हिमांशु चतुर्वेदी, चीफ स्ट्रैटेजी ऑफिसर, टाटा प्रोजक्ट्स #BudgetOnZee @FinMinIndia @nsitharamanoffc @nsitharaman @Anurag_Office @PMOIndia @TataConsumer pic.twitter.com/4wSAbqkBwN
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As for liquidity, the revenues of infrastructure companies is used as a one year working capital. The Central Government has done a lot to help in the times of Covid 19 pandemic. As a result of this construction sector has seen a good growth over the last two quarters. Much of it has been received from the Rail and Road ministries, he added.
It is being urged that the projects are given through other ministries also.
The third point is related to taxes. The government reduced corporate taxes to 25 per cent, which is a welcome step. But for big and complex projects, when the companies com and work with the government the taxes are 42 per cent. He urged the Finance Minister Nirmala Sitharaman to look into this and rationalise the taxes.
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