Budget's Rs 100 trn infra investments to buoy domestic steel use: Icra

Plan to build 19.5 mn rural houses over next three years will also strengthen steel consumption, ratings agency says in its Budget analysis

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Budget 2019: The Union Budget's aspirational investment of Rs 100 trillion over 2024 is expected to catalyse domestic steel consumption.

Besides the massive investment on infrastructure, the plan to construct 19.5 million rural houses over the next three years will strengthen steel consumption, ratings agency Icra Research said in its Budget analysis. Icra's review is predicated on the fact that construction and infrastructure sectors account for 50-60 per cent of the domestic steel consumption.

“Additionally, increased tax incentives for affordable house purchases are a positive for long steel demand. The Government has set itself a target to provide drinking water to all households by 2024 under the flagship Har Ghar Jal Mission...read more

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