CMA Dr. P. Siva Rama Prasad M.Com., MBA

Transcript:CMA Dr. P. Siva Rama Prasad M.Com., MBA:
CMA Dr. P. Siva Rama Prasad M.Com., MBA (Finance)., FCMA., FCS., FIIBF., FIII (Life & General Insurance)., MAIMA., Asst. General Manager (Retd.) State Bank of India Hyderabad Internal Audit Infrastructure Sector Internal Audit - Infrastructure Sector Infrastructure Sector in India Internal Audit - Infrastructure Sector India stood 10th Worldwide with respect to the Overall Quality Infrastructure Environment in the Country Internal Audit - Infrastructure Sector ROBUST DEMAND India is expected to become the world’s third-largest construction market by 2022. India will require investment worth ₹ 50 trillion (US$ 777.73 billion) across infrastructure by 2022 for sustainable development in the country. Internal Audit - Infrastructure Sector ATTRACTIVE OPPORTUNITIES In November 2021, India, the US, Israel, and the UAE established a new quadrilateral economic forum to focus on infrastructure development projects in the region and strengthen bilateral cooperation. The initiative ‘Infrastructure for the Resilient Island States’ (launched in November 2021) will give India a huge opportunity to contribute to the betterment of other vulnerable countries in the world. Internal Audit - Infrastructure Sector POLICY SUPPORT In Union Budget 2021, to support initiatives such as ‘Housing for All’ and ‘Smart Cities Mission’, the government allocated ₹ 13,750 crore (US$ 1.89 billion) to AMRUT and Smart Cities Mission. In March 2021, the Parliament passed a bill to set up the National Bank for Financing Infrastructure and Development (NaBFID) to fund infrastructure projects in India. Internal Audit - Infrastructure Sector INCREASING INVESTMENTS Huge investments in infrastructure (e.g., Reliance Digital Fiber Infrastructure Trust Investment of US$ 1 billion) have provided momentum to overall PE/VC investments in India. Prime Minister Mr. Narendra Modi announced an ₹ 100 lakh crore master plan for multi-modal connectivity in October 2021, with the goal of developing infrastructure to lower logistic costs and improve the economy. Internal Audit - Infrastructure Sector The infrastructure sector is a key driver of the Indian economy. The sector is highly responsible for propelling India’s overall development and enjoys intense focus from the Government for initiating policies that would ensure the time-bound creation of world-class infrastructure in the country. The infrastructure sector includes power, bridges, dams, roads, and urban infrastructure development. Internal Audit - Infrastructure Sector Road Ahead Internal Audit - Infrastructure Sector Internal Audit - Infrastructure Sector Internal Audit - Infrastructure Sector Infrastructure development has a key role to play in economic growth. Investors, policymakers, and citizens alike acutely feel the constraint of physical infrastructure on