Quotes for the budget - eZee Technosys

 

eZeeTechnosys is a tech-based hospitality brand. They provide tech solutions to hospitality brands both in India and abroad. The brand profile is attached below.

The company has provided inputs from an MSME perspective, a Tech point of view and for the Hospitality sector.

Please find enclosed below two quotes on behalf of Mr. Vaibhav Patil, Director of Finance, eZee Technosys:

1. Tech relevant quote - "While the new reforms were widely looked forward to, it doesn't change the fact that the budget failed to cover infrastructure expansions and innovative setups towards the Digital India movement. The consumers are preferring digital modes now, and the boost was needed for tech companies to take a step further towards digitalization. Let's hope that the companies are able to make do and innovate with what they have."

2. MSME related quote - "The MSME sector, which was battered by Covid-induced lockdowns, needed a lifeline. By increasing their threshold for capitalization, now such companies will get certain relief and exemptions provided by the government. The government will be able to route emergency credit to this sector. This will also benefit from the simplified scheme of arrangement between two small companies, which can now happen without requiring the approval of the Tribunal. The finance minister also mentioned about minimum wages being applied to all categories of workers. However, many businesses might not be able to make the pay-hike mandate work without laying off employees or not hiring them in the first place. The effects of this will purely depend on how the government implements this aggressively over a period of time. On the other hand, allowing women to work in all categories will give them an opportunity to work for equal salaries and career progressions. "

3. Hospitality Quote - "The hospitality industry contributes to almost 10 percent of the GDP. And the travel and tourism industry has been one of the most severely impacted in the ongoing Covid-19 pandemic. Budget expectations of this industry were to get some relief measures to curtail the damage that has been done. However, the budget failed to cover these expectations. This may further reduce new investment and slow down the infrastructural development in this sector. In this year, hoteliers would have to be more dependent on operational efficiency to lower their costs, where technology would play a vital role."