Kolkata, February 1, 2026: Lalit Beriwala, Managing Director of Shyam Steel Group, has welcomed the Union Budget 2026–27 presented by Hon’ble Finance Minister Smt. Nirmala Sitharaman, stating that it lays a strong foundation for a more connected, technologically empowered and inclusive India, aligned with the Prime Minister Shri Narendra Modi’s vision of Vikshit Bharat by 2047.
Commenting on the Budget, Beriwala said that the continued thrust on capital expenditure, raised to 9 percent with public capex increased to ₹12.2 trillion for 2026–27, along with focused investments in railway network expansion, express highway connectivity and construction-led growth, will significantly strengthen India’s infrastructure backbone. These measures are expected to create sustained demand for quality steel and boost overall industrial activity.
He further highlighted that infrastructure development proposals for tier II and tier III cities will accelerate growth across the steel, cement and other building material sectors, while generating large-scale employment opportunities in urban and semi-urban areas, thereby helping address unemployment concerns.
Beriwala also welcomed the emphasis on the waterways development sector, the announcement of seven additional Dedicated Freight Corridors, eco-friendly and sustainable passenger corridors, semiconductor corridors, chemical parks, rare earth corridors and textile parks. He noted that these initiatives, along with long-term structural reforms, will contribute meaningfully to sustained economic growth.
In the context of rapid digital transformation, Beriwala said the government’s focus on Artificial Intelligence–driven tools and skill-to-employment frameworks aligns well with the evolving needs of modern manufacturing. He added that the steel industry stands to benefit from smarter processes, enhanced productivity and improved operational efficiency through greater technology adoption.
Another key highlight of the Budget, according to him, is the continued support for women-led enterprises and empowerment initiatives, which nurture entrepreneurship and reflect India’s commitment to inclusive and balanced socio-economic development.
Overall, Shri Beriwala stated that the Union Budget 2026–27 reinforces infrastructure momentum, sharpens the country’s technological focus and promotes inclusive development, laying a strong foundation for India’s next phase of industrial and societal progress. Like previous years, he described the Budget as growth-oriented, progressive, business-friendly and pragmatic.
0 Comments