L&T CFO: Budget 2026 Capex to Rise 10%, Infrastructure Key for India's 2047 Goal

• L&T CFO R. Shankar Raman anticipates a 10% increase in capital expenditure (Capex) in the upcoming Budget 2026-27.
• Raman emphasizes infrastructure's vital role for India to achieve developed economy status by 2047, expecting adequate government funding.
• He notes a surge in large infrastructure projects but expresses concern over lowest-bidder awards causing project delays; advocates for quality-based pricing.
• Manpower shortages persist in construction due to less preference for the profession and reluctance to relocate post-pandemic and due to government employment schemes.
• Solution for manpower: bring projects closer to people's residences; private Capex is active in sectors like auto, steel, semiconductors.

Why It Matters: L&T CFO foresees 10% Capex hike in Budget 2026, stressing infra's role for India's 2047 vision.