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The Govt to provide much-required support to the construction sector
Infrastructure is a key driver for the economy, responsible for the overall development and growth of the Indian construction industry. It broadly consists of two major segments: real estate and urban development. While the real-estate segment includes residential buildings, commercial and retail spaces, hotels and so on, the urban development segment pertains to infrastructure development of water supply, transportation, educational complexes, solid waste management, etc. As per a global survey, the construction industry in India is expected to grow steadily and the growth momentum is expected to continue to rise, thereby recording a compound annual growth rate (CAGR) of 11.7 per cent during 2021-2025. The survey further envisaged an output of $ 842,535.2 million by 2025.
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