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Company Name : Sunil HiTech Engineers Ltd.

Monday, February 5, 2018 4:14PM IST (10:44AM GMT)

(NSE:SUNILHITEC)(BSE:532711)

Sunil Gutte says, Budget 2018-19 is a Great Push to Infrastructure and Affordable Housing, will Strengthen Development Goals for India


Mumbai, Maharashtra, India

After the Union Budget 2018-19 for India was announced on 1 February, by the Union Finance Minister Arun Jaitley, hopes for high-end infrastructural growth saw a massive boost. As per the Union Budget for FY18-19, Rs. 14.34 lakh crore has been allocated for infrastructure and livelihood upgrades in rural areas. Agreeing with the Budget 2018-19 provisions, Mr Sunil Gutte, the Managing Director of Sunil Hitech Engineers Limited opines that a dedicated fund for roads and highway construction is just what we need today. He also feels that current plans to equip rural areas with best infrastructure will also invite bright opportunities for Sunil Hitech.
 
Applauding the road ministry’s continuous strides, Mr Sunil Gutte, the Managing Director of Sunil Hitech Engineers Ltd, looks forward to contribute to the planned completion of 9,000 km of National highways construction.
 
With Bharatmala Pariyojana receiving a surplus aid for improving connectivity to backward and interior areas and borders of the country, the Union Budget also stressed on developing the rural infrastructure and road construction, taking it a notch up. The Bharatmala programme envisages constructing extensive network of 60,000 km and more with capital outlay of Rs. 6.92 lakh crore. In the first phase of this project, 34,800 km of national highways construction is targeted, which will have a capital outlay of Rs. 5.35 lakh crore.
 
Funding for National Highways Constructions Hiked by 16.39% for the Next Fiscal Year
 
The National Highways Authority of India (NHAI) was provided Rs. 91,633.13 crore under capital expenditure this year, while in the last fiscal year, the amount allocated was Rs. 83,170.59 crore. The Finance Ministry has allocated Rs. 71,000 crore for road transport and highways ministry for next fiscal year. This reflects a hike in allocation by 16.39% against previous fiscal, where the sum allocated was Rs. 61,000 crore.
 
“We are anticipating active participation in highways programme launched by the government”, says Mr Gutte.
 
As per a report, as a source of income, NHAI was provided Rs. 20,093 crore under the Central Road Fund. The Finance Ministry has also allocated Rs. 19,000 crore for roads construction in rural areas, under the Pradhan Mantri Gram Sadak Yojana (PMGSY). March 2019 is the deadline for the project, the amount for which surged by Rs. 16,900 crore, allotted during FY18. Apart from the budgetary support, funding for road ministry from other sources was also mentioned, including Toll Operate Transfer.
 
Affordable Housing Plan Spells Relief for Those Wishing to Own Their Dream Home
 
To widen the ambit of infrastructure development plans, Mr Sunil Gutte feels that the Union Budget 2018-19 initiatives are building blocks to connect agricultural and rural areas with road and highway construction, and affordable housing. Honourable Finance Minister has thus announced a dedicated affordable housing fund in the National Housing Bank.
 
In line with “Housing for all by 2022”, Mr Gutte considers that Sunil Hitech Engineers Ltd can assist in fulfilling the housing needs of rural areas.
 
The Affordable Housing Fund (AHF) will be funded from priority sectors and government-authorized fully serviced bonds. In urban regions, assistance for 37 lakh houses have been sanctioned, whereas in rural regions, more than a crore houses are to be built under the Pradhan Mantri Awas Yojana.
 
Mr Gutte Plans to Facilitate Highway Construction and Housing Facilities for India
 
The focus on building roads shall certainly boost budget housing, and Mr Sunil Gutte thinks that these measures will significantly help rural regions to connect with peripheral areas. He also infers that Sunil Hitech Engineers Ltd can strengthen the affordable housing plan for related developments in semi-urban and urban areas.
 
Along with levelling up participation in roads and highways construction and support for affordable housing for rural areas, Mr Sunil Gutte plans to add more to the order book of Sunil Hitech Engineers Ltd with India being headstrong about pushing growth in infrastructure sector for both rural and urban areas.


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+91 (22) 61872400, Sunil HiTech Engineers Ltd., wr@sunilhitech.com


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News Summary

After the Union Budget 2018-19 for India was announced on 1 February, by the Union Finance Minister Arun Jaitley, hopes for high-end infrastructural growth saw a massive boost. As per the Union Budget for FY18-19, Rs. 14.34 lakh crore has been allocated for infrastructure and livelihood upgrades in rural areas.