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Construction : Budget | February 2013 | Source : Construction Update

Budget Expectations: Prayasvin B Patel, CMD, Elecon Engineering Company Ltd

"The Engineering and Capital goods industry, being at the epicenter of various sectors, requires to have necessary attention and be highly leveraged. Capital intensive needs a lot of issues to be resolved and positive policy changes which would enable them to innovate and build competitive advantage. The number of projects that have been stalled and cancelled has increased and if the budget addresses some of the power sector issues such as poor financial position of state power, distribution companies and delays in land acquisition and forest clearances, among others, it would be beneficial for the capital and engineering goods sector. Last but not least, as the implementation of Goods and Service Tax (GST) appears unlikely in the next fiscal, the expectation from this budget would be to set up a clear road map for the implementation of GST that would rationalize the complicated indirect taxes regime that businesses in India have to face".

About Elecon Engineering Company Ltd.:

Established in 1951, Elecon Engineering Company Ltd of Vallabh Vidyanagar, Gujarat, India, pioneered the manufacture of material handling equipment. During these six decades, Elecon has designed and implemented several landmark projects in India as well as abroad. From a modest start of design and manufacture of Elevators and Conveyors from which incidentally, the company derives its corporate identity. viz. "Elecon". It has grown over the years to be known as a pioneer of the concept of mechanized way of Bulk Material Handling Equipment in India. During the span of more than 6 decades, Elecon has encompassed all the major core sectors through its supplies of highly sophisticated equipment bearing ample testimony of the symbolic mark of Elecon's unbeatable technology. Elecon has thus, made its presence felt through consistent and satisfactory performance of its equipment in such core sectors as fertilizer, cement, coal/power generation, chemical, steel plant and port mechanization etc., across the country.
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