Post Budget 2021 quotes from around the industry specialists

“I’d like to commend the government on presenting a comprehensive budget that aims to address some of the most important aspects of how we can build a resilient economy, especially in light of the global pandemic. The budget was clearly pro-growth, pro-technology, pro-infrastructure and also had an earmarked place for improving healthcare in our country. The initiatives announced will certainly aid economic recovery, whether that’s through capital infusion, change in taxation norms, programs for promoting domestic manufacturing or development of relevant infrastructure – these will create large opportunities for the MSMEs and is a right step in the direction of building an “Aatmanirbhar Bharat”.

Rahul Raj, Founder & CEO at FloBiz | Building for Growth, Building for Bharat

“Governments move on the proposed 1500 crore fund for digital payments is a welcome move and will go a long way in strengthening payment infrastructure in the country and taking financial services to the last-mile. We would await to see the fine print of where this fund will be allocated.

Waiver of Tax audit for companies with turnover upto 10 crs and a cash expenditure of less than 5% will push Small businesses to move towards Digital payments.”

Ketan Doshi, MD at PayPoint India

The Budget 2021-22 has left the data science community quite excited for what is to come. For me it was really interesting when the Government announced that it will launch multiple data analytics, AI, ML driven models for e-security, e-education, e- consultation, and compliance management. Also, the prospect of using Artificial Intelligence and Machine Learning in GST Fraud Tracking is quite motivating and intriguing.

The Government’s continued support for the startup is quite uplifting as the Government is setting aside Rs 15,700 crore in FY22 and has reduced margin money requirement from 25% to 15% for startups. The proposal of extending the tax holiday for start-ups by one more year will also give more confidence to the entrepreneurs.

Gaurav Shinh, CEO & Founder, DAAS Labs

 

 

“The Budget 2021-22 has put a lot of focus on reviving the infrastructure sector. The government’s effort towards further enhancing the roads and highways projects to 7,400 new projects is a welcome step which will ensure a better year for the infrastructure sector as well as for the construction equipment industry. The announcement of introduction of the Development Finance Institutionproviding ₹20,000 crore to launch the National Asset Monetization Pipeline to fund new infra projects, will strengthen the stability of the sector. Additionally, the multitude of announcements on the highway projects in Tamil Nadu, Kerala, West Bengal and Assam will further give a much needed boost to the sector. The governments vision of committing Rs 1.97 trillion to the manufacturing sector over 5 years will help the industry immensely. We are confident that all these efforts will play an important role in reviving the sector and bringing back the economy to normalcy.– Mr. Sandeep Mathur, Brand Leader, CASE India