Economic survey very-well emphasised role of infra on economy: Rajiv Agarwal, CEO & MD, Essar Ports

MUMBAI: “The Economic Survey highlighting the centre’s economic performance for the year will set the tone for Union Budget 2021. Its forecast of India being one of the world’s fastest growing economies post the Covid-19 pandemic surely projects a strong V-shaped recovery.

The survey very-well emphasised the role of infrastructure and its impact on the economic growth of the country. India’s real GDP is expected to grow by 11.5 percent in 2021-22 and Ports will certainly play a pivotal role in achieving this objective. The government has already put in place a number of reforms and policies to boost infrastructure in the country, going forward the budget should also focus on increasing the contribution of Ports sector to the country’s GDP. Ports is a significant driver of Export Import trade hence it becomes necessary to keep logistics cost low to encourage exports.

Also, the announcement of the National Infrastructure Pipeline (NIP) scheme will give the desired boost to the economy and generate employment opportunities which is an area of concern especially post the job loss witnessed during pandemic.

Acceleration in industrial activities will further push the demand and gradually lead to economic recovery. In times of such uncertainties like the pandemic, “Aatmanirbhar Bharat” or a self-reliant India, is indeed a well thought out roadmap to encourage people to be ‘vocal for local’ for a future-ready India.”