Budget 2022: 'Push to infra to have multiplier effect on core sectors'

This is likely to have a multiplier effect on the core sector industries like steel and cement, and in turn give a to boost the domestic refractory industry, IRMA said in a statement

The "significant push" by the government to the infrastructure sector in the Union Budget is expected to have a multiplier effect on the core sectors like steel and cement, industry body IRMA on Tuesday said.

In a statement, the Indian Refractory Makers Association (IRMA) said, "There is a significant push in infrastructure sector, especially transport and logistics, while capex expenditure has been raised by whopping 35.4 per cent from Rs 5.54 lakh crore to Rs 7.50 lakh crore."

This is likely to have a multiplier effect on the core sector industries like steel and cement, and in turn give a to boost the domestic refractory industry, the body said.

 

IRMA Chairman Parmod Sagar said, "The further push on infrastructure will generate demand at multiple levels. Focus on green energy, SEZ reforms and thrust on manufacturing, particularly domestic defence manufacturing, are cogent with the Hon'ble Prime Minister's vision of 'Make in India' and Atmanirbhar Bharat."

Refractory is a specialised heat-resistant material used in making cement, steel, copper and aluminium. Due to its special properties, it can handle high temperatures, and magnesia and alumina are the key raw materials required to produce it.

Based in Kolkata, IRMA is the apex body of domestic refractory manufacturers. It is involved in various activities like representation to the government on issues of commonality, maintaining databank on refractory industry, development of SME sector etc.