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Entrepreneurs’ Views on Budget 2021-22

Union Minister for Finance & Corporate Affairs, Nirmala Sitharaman presented the Union Budget 2021-22 in Parliament today, which is the first budget of this new decade and also a digital one in the backdrop of unprecedented COVID-19 crisis.

While this news has made citizens all excited, the Entrepreneurs of India have come forward and shared their views on the Budget presented by Union Minister for Finance & Corporate Affairs, Nirmala Sitharaman.

Vedanta Resources Executive Chairman, Anil Agarwal tweets, “Congratulations to @narendramodi and FM @nsitharaman for a very reformist #Budget2021 with many big ideas including strategic disinvestment of two public sector banks & one insurance company. Thrust on infrastructure will boost growth.”

 

Adding to the gist, Mahindra Group Chairman, Anand Mahindra tweets, “In a time of unprecedented economic stress, the Government’s responsibility was to spend enough to revive the economy or else face enormous human suffering. So, I had one expectation from this budget: that we should be very liberal in terms of the targeted fiscal deficit. Box ticked.”

 

Further, RPG Enterprises Chairman, Harsh Goenka tweets, “Combination of Pujara & Pant innings – consistency and flamboyance! Steady focus on infra, commercial laws, ease of business with big shots of monetising PSU assets, new divestments, insurance FDI. India won in Australia. Now India shall rise above in new world order!”

 

Shrinivas Dempo, Chairman at Dempo added, “Growth oriented and positive budget. Pleasant surprise that no additional tax burden on individuals and businesses. Right push on capex on infrastructure funding.”

Kiran Mazumdar Shaw, Executive Chairperson at Biocon says, “Overall, a reassuring Budget with no negative surprises that has buoyed overall sentiment.”

 

Founder and CEO of Shevins Entertainment Pvt. Ltd, Shekhar Vijayan says, “Budget 2021 is accelerating India’s growth story focusing on minimum Government interference. From facing the pandemic, building confidence, focusing on expenditure to boosting the economy and financial sector liberalisation will go a long way in boosting positivity. The new education policy has been mentioned in the budget. This is a massive result of the direct consultation process done with respect and inclusion. Every educationalist feels a sense of ownership in conclusion of a transformational, growth oriented, citizen focused budget which focuses on job creation with the markets giving 2000 points standing ovation.”

 

The #Budget2021 meets the expectations of the auto sector as it has given thrust on infrastructure spending and scrappage policy has been a good move especially for the component sector, says Deepak Jain, President at ACMA India & CMD, Lumax Industries Limited.

 

“Focus on Investment in key sectors like Healthcare, Mfg., Infra, Shipping will definitely boost employment and offer meaningful jobs to Indian youth. Healthcare Allied systems, Nursing & Midwifery bill will not only create a strong healthcare infrastructure; also, will provide employment especially to women”, says Sarita Reddy, Co-Chair, CII National Committee on Skill Development & Livelihood & MD, Gayatri Sugars.

 

“Historic Budget with growth as the centrepiece. The announcement regarding the setting up of the Development Financial Institution (DFI) which is likely to play a critical role in channelizing investments in #infrastructure and other key sectors of the economy, is in line with CII’s recommendations”, says Uday Kotak, President at CII.

Sandeep Shankar, Director at Green Solutions says, “On an initial note, SBM 2.0 urban is good news as it will make our cities more liveable with a push for water treatment which would in turn make our bigger cities less susceptible to waterlogging during monsoons by renewing dead water bodies. The healthcare budget would bring in more tech which in today’s scenario is paramount to stay ahead in times of crisis.”

 

Ammit Tyagi, CFO at IServeU says, “The key focus of the Finance ministry was not to roll out free SOPS but was focussed on start-up ecosystem, tax reforms and ease of investing in India. The budget clearly shows that long term forward thinking of the government.

Government going for higher fiscal deficit (6.8%) than expected. Budget focussed on increased expenditure in the form of capital expenditure (5.54 lakh Cr which is 15.91% of the budget vs 13.55% last year). Transparent budget with government revealing fiscal deficit numbers for FY21 higher than market expectations.

Expansionary budget – stimulus on the expenditure side and no change in individual income rates which has pleased the market. One negative is no consumption boosting measures.”

Dipak Simanta,Founder and CEO, iServefinancial Pvt. Ltd

It’s a Good Forward- Looking, Budget Democratizing New Indias Growth.

Balances conflict between health, finance, rich, poor, industry, government and civil sectors.

Bold reform measures to reduce govt reach in industry, improve govt to citizen interaction in taxation. Strong privatisation signal.

Transparent accounts and medium term planning to bring fiscal deficit down.

Its a confident and forward looking budget. Hope our Government handles, Leftists and Unions to implement and execute the budget, specifically for its Disinvestment plans

 

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