Key Expectations from Union Budget – Dr. Ajay Ranka, CMD, Zydex Industries

18 January 2023: Infrastructure with goals of sustainability will be the key pillars of the modern economy. India being a multi segment economy must focus on sustainability in energy, petro-chemicals, minerals, agricultural lands, forests etc.

Innovative policies and targeted incentives can nudge the economy to be on a consistent growth path which can be sustained in the entire century. Net zero goal of 2070 and prudence in achieving the same at the lowest cost with inclusive growth should be the key focus of our economic policies.

Most of the GST on construction raw materials is denied credit in the economic activity and so lower rates would help. Production Linked Incentive (PLI) like schemes should be pursued to energise more manufacturing and job creating activities to give buying power to the working consumers and control the current account deficit by importing less and exporting more.

Quality of current infrastructure being built is an area of concern. Poor audit practices, accountability and mal-practices can be addressed by creating a multi-layer quality assurance system almost on the lines of the faceless income-tax assessment. This can reduce the depreciation cost of the new infrastructure built reducing the future cost of repairs and replacement.

Established In 1997, Zydex is a specialty chemicals company with the purpose of innovating to create a sustainable world through conservation of resources. Zydex offers a diverse set of chemical technologies for the textile, agriculture, pavement and construction industries.

With a growing workforce of 1,100+ employees, Zydex has risen to become a global player with footprints in over 40 countries, where significant players and institutions have adopted our eco-friendly and sustainable technologies. Zydex is deeply committed to sustainable chemistries that will ensure a greener future for everyone. Our commitment has made us a pioneer in introducing non-polluting and non-hazardous technologies that conserve, protect and enhance the environment.

www.zydexindustries.com