Union Budget Reaction from Hyderabad Inc

Date: 01-Feb-2021

Dr. K Anand Kumar

Managing Director

Indian Immunologicals

The Union Budget has laid a significant focus on healthcare which would strengthen the foundation of a healthy nation. With an increase of 137% from last year, the allocation of INR 2.23 lac crores for the primary, secondary and tertiary healthcare along with the steps to set up health and wellness centres across the country will immensely help especially the economically weaker section of the society making quality healthcare more affordable. Making specific funds available for the vaccination for COVID-19 as well as pneumococcal will help to combat the pandemic and save precious lives. It is really encouraging that the government is trying to promote the growth of hospital infrastructure through PPP mode.

Mr. Jerold Chagas Pereira

Executive Director and CEO

mPowerO

“The previous year has not only changed education as we know it, but it has also persuaded all the educational stakeholders to find better digital learning solutions. Budget 2021 has immensely focused on the effective implementation of National Education Policy and reinforce the skill development process of the global education standards. The budget allocation for 15,000 schools to be worked as a model for the NEP implementation across the country is a welcome move for new age education and an indicator of the commitment of the government to the NEP. However, some tax concession to the education industry would have helped them to combat the financial challenges they are reeling through and resulted in enabling them to allocate higher funds for implementing digital learning solutions benefiting the students cover up the lost time due to the pandemic in an efficient manner.”                      

Mr. Parikshith Reddy
Co-founder
Zippr

 

The announcement by Honorable Finance Minister Nirmala Sitharaman to set aside Rs 15,700 crore in FY22 for the MSME sector and benefiting the startups with a turnover of up to Rs 100 crore in terms of the tax liability is a promising step towards encouraging the enterprise startup sectors that forms the base to India’s economic development. These steps are centrifugal to a long-term vision of Atmanirbhar Bharat, make in India mission, and summing up everything towards India’s $5 Trillion Economy vision.

The ₹1.41 lakh crore Urban Swachh Bharat 2.0 mission over five years announced today is another step towards building better cities for the natives. As the UN report indicates that by 2030, over 40 per cent of India's population will be found in its big cities, the Urban Swachh Bharat 2.0 is indeed a concrete step towards making better and healthy living possible. Being a global leader in smart addressing, we look forward to continuing and multiply our assistance with Digital Door Numbering Technology to the State Governments, Municipal Corporations in this mission by enabling them to digitize the current complex addressing system and bringing in transparency for better Government services including waste management system, pipeline construction, emergency services, and public planning, property taxation amongst others as part of Government services.

Mr. Ameen Khwaja
Founder and CEO
pTron:

The Union Budget 2021-2022 has a pragmatic approach to revive the COVID-19 hit economy. While the budget stressed on Atmanirbhar Bharat and Make in India, it is important to note that the costs would only increase in the immediate future for the existing players in Consumer Electronics Industry. An increase in import duties is a welcome move towards Atmanirbhar. However, considering that the current availability of technical skill and machinery isn't strong, the industry is likely to witness a struggle in the short-run due to an increase in cost for importing components and parts leading to an increase in the manufacturing cost for the players in the market.