Industry & Economy
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Budget
Power on `line
Sowmya Sundar
THE measures announced for attracting investments in the transmission and distribution network and acceleration of irrigation projects would be the major boosters for the capital goods industry.
Irrigation projects would lead to higher demand for a number of products such as pumps sets, compressors and engines to be used in these pumps. The primary beneficiaries would be Kirloskar Brothers, which derives a chunk of its revenues by supplying pumps to irrigation projects. KSB Pumps, too, would benefit from the number of water management and water harvesting programmes initiated by the government.
Fresh proposals for attracting investments in repairs and maintenance of the transmission and distribution (T&D) network could prompt State Electricity Boards, which control practically the entire transmission and distribution network, to invest more. This will lead to more business for T&D equipment makers, such as ABB, Siemens, Crompton Greaves, KEC International and Jyoti Structures.
Higher allocation towards rail modernisation and safety and roads, too, would sustain demand for products such as railway traction systems manufactured by companies such as Siemens and BEML.
The reduction in customs duty on specified textile machinery could prop up volumes for Voltas that has a trading arm, which imports and sells textile machinery.
Sops for attracting investments in the food processing industry could open up business opportunities for Alfa Laval and Praj Industries.
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