Commenting on Union Budget 2010-11, Tushar Mehendale, Managing Director, ElectroMech, said, “It is really heartening to note the marked increase in the allocation to the power sector. India desperately needs more spending in this sector and the Finance Minister has delivered on this front. We are happy that India is firmly on the path of becoming self sufficient in its power requirements and as an equipment supplying company to several power projects, we are also excited at the prospects of additional business this move will generate. Indian infrastructure has always been a dark spot on the India growth story while the high rate of personal savings has been the bright spot of the Indian economy. The Finance Minister has cleverly used these facts and by providing tax breaks for individual investments in the infrastructure sector, he has tried to ensure sufficiency of funds for several key infrastructure projects. Again as before, being equipment suppliers to several infrastructure companies, this move also opens up newer avenues of growth in our business.”

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