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Nilesh Shah, Managing Director, Kotak Mahindra Asset Management, said: “India can achieve the impossible trinity by ramping up infrastructure investment, supporting inclusive growth and maintaining fiscal health. I achieved it.”
Sitharaman spoke broadly about the development of India’s air connectivity, noting that Indian airlines have recently ordered more than 1,000 aircraft and stressing that “the development of new airports will continue to move forward at a rapid pace.”
In June last year, IndiGo placed an order for 500 Airbus A320s, the largest commercial aircraft in history, to be delivered between 2030 and 2035, underwriting Air India’s contract to buy 470 aircraft from Airbus and Boeing in the same month. exceeded.
Akasa Airlines last month ordered 150 Boeing 737 MAX aircraft.
He also highlighted the “game-changer” potential of the India-Middle East-European Union Corridor announced at last year’s G20. US President Joe Biden described the initiative as a “really big deal.”
“The continued increase in allocation to infrastructure bodes well from a growth perspective and could act as a catalyst to boost private capital spending,” Shah told CNBC. Ta.
Sitharaman said long-term interest-free loans would be provided to various states to develop tourism centres, while highlighting that spiritual tourism had picked up steam last year.
India, which has the world’s largest Hindu population, could attract an additional 50 million to 100 million tourists a year thanks to the inauguration of Ram Mandir in the northern city of Ayodhya last month, Jefferies said. It is said that there is a sex.
Sitharaman said up to Rs 750 billion in 50-year interest-free loans will be set aside for states to promote tourism.
Noting that India’s economy will undergo “unprecedented” development, Sitharaman highlighted four key areas on which the government will focus: poverty, youth, women and farmers.
“Their needs, their aspirations, their welfare are our top priority,” she said.
The Ministry of Finance announced earlier this week that India could become the world’s third-largest economy with a gross domestic product of $5 trillion by 2027.
“The pandemic has challenged food, fertilizer, fuel and finances, but India is steering well,” Sitharaman said, reiterating the government’s goal to develop India by 2047. .
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