Page 24 - CV June-July 2023 Issue

The government announced a budget for the Ministry of Road Growing government investments in infrastructure and other strategic
Transport and Highways of Rs. 60,000 crore (US$ 7.72 billion). The initiatives are expected to improve the country's construction sector.
Ministry of Housing and Urban Affairs would receive Rs. 76,549 crore Therefore, with increase in the construction activities by government
(US$ 9.85 billion) from the government. The government has given and the private sector the market for construction equipment rental
the Department of Telecommunications Rs. 84,587 crore (US$10.87 has great potential.
billion) to build and upgrade telecom infrastructure in the country.
Covid-19 Impact
The total revenue expenditure for railways is expected to be Rs. The spread of COVID-19 contributed to the decline of the India
234,640 crore (US$ 30.48 billion). Over the following three years, 100 Construction Equipment rental sector as a result of disruptions in the
PM-GatiShakti cargo terminals for multimodal logistics facilities will be supply chain and production discontinuity. Furthermore, construction
built. The PM GatiShakti—National Master Plan for Multimodal site closures and event cancellations have serious consequences for
Connectivity to Economic Zones—was the focal point. The PM the equipment rental industry, including the health and safety of rental
GatiShakti National Master Plan will incorporate everything from company employees, the suspension or cancellation of rental
roads to trains, aviation to agriculture, as well as many ministries and contracts, the management and maintenance of machinery, and the
departments. ability to retain staff and pay salaries.

CONSTRUCTION VISION 22 JUNE-JULY 2023