"The focus of the Union Budget 2018-2019 has been to boost investments in rural development, education, healthcare and social sectors. With sizeable allocations to the rail and road sectors; it clearly recognises the infrastructure sector as a growth driver.

Revisions in MSP, emphasis on rural MSME credit, and similar initiatives should lead to a significant improvement in rural incomes. A push in rural development, road and rail sectors, affordable housing and smart cities will all help the cement industry; as an increase in rural spending power should translate into more housing.

With an increased GDP, which facilitates connecting and integrating the country with a network of roads, airports, railways, ports, and inland waterways; the infrastructure sector should see a growth in demand. The focus on roads and rails will also positively impact consumption of cement and concrete.

A growth of 7-8% by the third quarter of the next fiscal is something that the cement industry would eagerly await."