Budget Reaction - The India Bizz Startup News Website

Budget Reactions from Mr.Sachidanand Upadhyay Ceo and Md Lordsmark Industries Limited

Desk — Mon, 05 Feb 2024 05:39:38 +0000

We’re optimistic about the government’s forward-thinking healthcare initiatives announced in the budget. The proactive emphasis on preventive measures and the extension of health coverage to frontline workers underscores a genuine commitment to community well-being. This holistic approach is exemplified by the streamlined maternal and child healthcare programmes, showcasing a dedication to impactful and inclusive health services.

The proposal to enhance medical education infrastructure reflects a forward-thinking strategy to address healthcare workforce challenges. We commend the accelerated efforts to improve nutrition and early childhood care through the upgrade of Anganwadi centers, aligning seamlessly with our holistic well-being mission. The introduction of advanced platforms for immunization management and the intensification of vaccination programs signals a commitment to leveraging technology for widespread healthcare impact, and, we eagerly look forward to actively contributing to these progressive initiatives.

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Quote By Mr. Mahendra Shah, Chairman and Managing Director, V-Trans (India) Ltd

Desk — Fri, 02 Feb 2024 09:52:45 +0000

“The interim budget presents a positive outlook, showcasing significant strides in managing the fiscal deficit. For the fiscal year 2024, the deficit stands commendably at 5.8%, comfortably aligning with the budget, with a targeted reduction to 4.5% by fiscal year 2026.

We welcome the government’s visionary approach towards infrastructure development as outlined in the Interim Budget 2024-25. In terms of the logistics sector, there are two notable highlights. Firstly, the emphasis on infrastructure development directly enhances logistical efficiency. The budget allocates a substantial increase of 11.1% in infrastructure spending compared to the previous year, totaling INR 11.11 Lakh Crore. The commitment to enhancing our country’s logistics and transportation sector is evident through initiatives like the implementation of major railway corridor programs under PM Gati Shakti. This strategic move not only aims at improving logistics efficiency but also promises a significant reduction in costs. The multi-modal connectivity will undoubtedly streamline the movement of goods, benefitting not only the logistics industry but also contributing to the nation’s economic growth.

Moreover, the government’s focus on reducing logistics costs is a game-changer. As a logistics company, we recognize that this emphasis directly translates into improved services and reduced expenses, ultimately benefiting consumers. Lower logistics costs and associated taxes have a domino effect, leading to a decrease in the prices of goods and services. This budgetary commitment aligns seamlessly with our aim to provide efficient, cost-effective, and reliable logistics solutions.

In conclusion, Budget 2024 reflects a forward-looking approach, with its strategic emphasis on infrastructure development, PM Gati Shakti’s initiatives, and reduction in logistics costs. As a logistic player, we are excited about the positive impact this will have on our operations and, more importantly, on our customers, fostering a more vibrant and competitive market for all.”

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Post Budget Quote- Dr K. Hari Prasad, President, Apollo Group-Hospitals

Desk — Fri, 02 Feb 2024 04:49:14 +0000

Being an interim budget the expectations for transformative reforms were muted. However it was heartening to hear the finance minister, as it was evident that the country is on a firm footing and poised for a sustainable growth. On the healthcare front vaccination for girls against cervical vaccine is a welcome move. Cervical cancer is the commonest type of cancer in women particularly in the lower socio-economic sections.

The vaccine prevents its occurrence and will have a positive impact not just on the healthcare front but also on the socio-economic front. The emphasis on maternal and child health is good and will improve the health indices of the nation. While there is work to be done on stakeholder inclusivity, Ayushmanbharat is a great program towards quality health for all. Once it becomes full-fledged with complete buy-in of all the stakeholders, it will transform healthcare across the country.

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budget reaction quote by Varun Babbar, MD India and SAARC for Qlik.

Desk — Fri, 02 Feb 2024 04:36:51 +0000

“The 2024 budget announcement signals a strategic focus on propelling the economy toward sustained growth. The government’s dedication to fostering growth, enhancing productivity, and creating employment opportunities aligns seamlessly with Qlik’s commitment to empowering businesses with transformative data solutions, including cutting-edge AI and ML applications.

The emphasis on transformative reforms via NEP 2020 and the Skill India Mission, particularly in crucial tech and AI segments, highlights the immediate need for upskilling and reskilling – essential pillars where Qlik’s innovative data analytics, data literacy, augmented by AI and ML, play a pivotal role. The allocation of Rs. 1 lakh crore for Research and Innovation, coupled with interest-free loans, underscores the crucial role of the private sector.

Furthermore, the forward-looking initiatives supporting shore-wind energy demonstrate a commitment to technological advancement and resonate with Qlik’s vision for sustainability and impactful innovation.”

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Interim Budget reaction from Md. Sajid Khan Director – India, ACCA

Desk — Fri, 02 Feb 2024 04:33:53 +0000

The Interim Union Budget paints a promising picture of India’s transformation. The focus on skilling India’s youth through initiatives like NEP and Skill India Mission, and the emphasis on both traditional and non-traditional skilling avenues is a laudable step towards India’s aspirations of becoming a ‘Viksit Bharat’ by 2047.

Public-private partnerships and leveraging industry expertise will be crucial in bridging the skill gap and empowering the ‘Amrit Peedhi’ for a developed India by 2047. Unleashing GIFT IFSC’s potential as a global financial hub requires fostering a future-ready accounting workforce through industry-aligned training programs and internships. A robust pipeline of skilled accountants adept in FinTech, international finance, and global regulations is key to propel India’s economic growth and achieve ‘Viksit Bharat’.

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Interim Budget 2024 – Building Momentum Harsh Goenka, Chairman RPG Group

Desk — Fri, 02 Feb 2024 04:28:44 +0000

The Finance Minister’s speech during the Vote on Account exudes confidence that our economy is on track to achieve the Hon’ble Prime Minister’s vision of becoming a ‘developed nation’ (Viksit Bharat) by 2047. The budget last year had significantly increased infrastructure spends along-side multiple welfare schemes. The results of the reforms and investments are now clearly visible with significant strides in various sectors that bolster the nation’s trajectory towards inclusive growth and sustainable development.

Continued focus on infrastructure, with substantial investments in railways, airports, highways underscores the government’s commitment to strengthen these sectors which are the backbone for economic growth, job creation, and enhanced quality of life. The budget also continues several social welfare, crucial for India’s long-term growth, ensuring that development is inclusive and benefits the most vulnerable sections of society. The healthcare initiatives are particularly noteworthy, reflecting the lessons learned during the pandemic and doubling down on the commitment to building a robust public health system. The decision to extend healthcare coverage under Ayushman Bharat to all ASHA and Anganwadi workers will motivate those working at the grassroots and strengthen the primary healthcare ecosystem. The decision to encourage cervical cancer vaccination for young girls will reduce the risks of developing cervical cancer for the 511.4 million women aged 15 years and older.

The foresight shown towards technology is commendable. The 1 lakh crore support for technology investments aligns with the nation’s rapidly growing digital economy, unlocking new growth avenues and fostering innovation to cement India’s position as a global leader in the digital space. Strengthening of deep-tech technology for the defence sector will ensure our defence forces are always equipped with the most advanced technologies to meet any future threat.

The agricultural sector, the backbone of the Indian economy, has been getting due attention with 11.8 cr. farmers having received direct financial assistance from PM-Kisan Samman Nidhi so far. The initiatives to enhance agricultural productivity, improve post-harvest marketing and storage infrastructure and better market access will not only boost the sector but also empower millions of farmers. This will go a long way in elevating the rural economy and ensuring food security for India.

The budget makes a strong case for environmental sustainability, aligning with our Net Zero commitment. Viability gap funding for investments in renewable energy, green initiatives, and sustainable urban planning demonstrates our proactive stance on climate change. The proposed rooftop solar investment of 1 crore households will promote grassroot level energy self-sufficiency and also create multiple economic opportunities..

The budget showed continued commitment to simplifying tax structure and removing irritants eg. withdrawal of old outstanding direct tax demands which will bring relief to around one crore small taxpayers.The government’s approach to fiscal management also deserves an applause. Measures to consistently bring down fiscal deficit, aiming at a below 4.5% number by FY26 will ensure economic stability.

Overall, balancing growth with social welfare, modernization with sustainability, and fiscal prudence with ambitious development goals, the Interim Budget 2024 has ensured that India’s economic juggernaut continues to roll on as we build a prosperous, resilient, and future-ready nation.

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