Greenply Industries anticipates continued emphasis on higher spending in policies addressing affordable housing, a critical sector for national development.
By MANOJ TULSIAN
As we look forward to the interim Union budget for 2024, Greenply Industries remains optimistic about the potential for sustained economic growth.
The notable 16% year-on-year increase in CAPEX during the fiscal year 2023 reflects a positive momentum in public infrastructure development. Our expectation is for the budget to maintain and further augment this trend.
Additionally, we anticipate continued emphasis on higher spending in policies addressing affordable housing, a critical sector for national development.
In the taxation department, we eagerly await progress on long-standing demands, particularly the rationalization of GST — an ongoing subject of discussion in our industry. A favourable resolution in this regard would undoubtedly contribute to a more streamlined and competitive business environment.
The strategic decision last year to increase duties on imported furniture items has significantly contributed to the promotion of domestically sourced raw materials.
We extend our appreciation for the government’s decision to mandate Bureau of Indian Standards (BIS) certification for plywood and wooden flush doors. This proactive measure aligns with our commitment to high quality product standards.
As an active player in the country’s infrastructural development, we look forward to a budget that not only upholds but enhances these positive economic indicators, fostering more scope for sustained development in the upcoming financial year. (The author is CEO and Joint Managing Director, Greenply Industries Ltd.)