The Union Budget, presented by FM Nirmala Sitharaman today, did not offer any relief for the common man on the tax front.
As part of the Money9 Budget conclave, Shailesh Pathak, CEO, L&T IDPL, in a chat with Sakshi Batra elucidates what the Budget means for the common man.
OWN A BUSINESS?: So, if you are doing business, and if you are dependent on logistics, how will this budget help you? L&T CEO Shailesh Pathak said, “If you need to transport something from point A to point B, the process will be quicker. If the delivery process typically takes 24 hours, it may take 5-6 hours now, with new roads and rail lines coming up.”
BIJLI: Talking about electricity, the budget gives the end consumer an option of choosing the electricity board that will supply power to your household, just like how you can choose a telecom operator. The L&T CEO in this regard said, “This was spoken about in Electricity Act 2003-04 and it will now be implemented. So, if you don’t like your electricity supply, you can switch to another supplier. This will not only ensure competition among suppliers, but also give freedom to the consumer.”
PAANI: Water supply, without a doubt, is a major concern among not just the rural masses but the urban population as well. In this regard, the budget has expanded the scope of Jal Jeevan mission that is catering to the rural areas, to urban areas as well, under the Jal Jeevan Urban Mission. The L&T CEO said, “There will be an urban Jal Jeevan Mission under which in any given city, if your household does not have a tap connection, you will be given one in the next 1-2 years.”
SADAK: It goes without saying that India is doing well in the highways sector. In Budget 2021-22, setting up of more highways connecting various parts of the country was announced. But what does it mean for you? Shailesh Pathak says, “Goods will be delivered faster via road and rail. The dedicated freight corridors will get operational next year. There will not only be timely service of trains but newer passenger trains will also be introduced. In the next year or so, private passenger trains will be introduced.”
GAS: City Gas Distribution Network which provides piped gas to a few cities as of now, is all set to be expanded under this year’s budget to 100 more cities in the country.
METRO/BUSES: To boost urban transportation metro construction is already underway in several cities of the country. What’s new in this budget is the talk of a new Metro Lite and Metro Neo. The L&T CEO in this regard said, “In bigger cities, you would have a full fledged metro, but in areas where the population density is low, you would have Metro Lite or Metro Neo.” This apart, under PPP, the government will be providing funds for 20,000 buses making travel a lot more seamless.
