MNREGA jobs are short-term, only lasting solution is projects: L&T chief

In a Q&A, S N Subrahmanyan, MD and CEO of the engineering group says he expects govt and public sector capex to be lower by Rs 3-4 trillion this year

Engineering congolomerate Larsen & Tourbo (L&T) expects the current financial year to be very tough as the country gets set to rebuild its economy. S N Subrahmanyan, managing director and chief executiver officer (CEO), L&T, expects government and public sector capital expenditure to be lower by Rs 3-4 trillion this year. In an interview with Amritha Pillay, he expects more orders in the later part of the year as the government needs to announce projects to create long-term employment. Excerpts:

1. When do you see economic activity stabilising for your company and at the macroeconomic level? 

Of our current order