Mercedes-Benz India | Union Budget 2023_Santosh Iyer, Managing Director & CEO, Mercedes-Benz India

Santosh Iyer, Managing Director & CEO, Mercedes-Benz India:

“The Union Budget 2023 should drive demand as it focuses on boosting consumption by increasing the disposable income of taxpayers. Further, an increased capital expenditure on infrastructure, particularly roads, should also create demand for the automotive sector. The change in basic custom duties is however going to impact the pricing of some of our select cars like the S-Class Maybach and select CBUs like GLB and EQB, making them dearer. However as we locally manufacture most of our models, this will not affect 95% of our portfolio.” 

Mr. Iyer, elaborated, “The focus on sustainability in the budget is commendable and initiatives like extending customs duty exemption of capital goods and machinery to manufacture lithium-ion cells for EVs is a step in the right direction, as it will consistently drive green mobility in the country.”  

Budget Reaction quote by CNH Industrial

 Union Budget 2023. If you are working on a Post-Budget or Budget Reactions story in Agriculture, Agritech or Farm Equipment sector below is the quote from our client – CNH Industrial, for your consideration.  

Budget Reaction Quote by Mr. Narinder Mittal, Managing Director, CNH Industrial India & SAARC – Agriculture Division

“The Union Budget 2023 has a strong emphasis on sustainable agriculture and economic growth. It sets a record-high goal for agriculture credit of Rs. 20 lakh crore, which would enable Indian farmers to increase their output with the assistance of smart machines and techniques. The target's five-fold expansion will further enhance demand for cutting-edge farm machinery and crop management solutions to meet the rising demand for Indian grains globally. Additionally, it will assist the farmers in recovering from their loss as a result of the change in climatic conditions. The emphasis on making India a hub for "Shree Anna" (Millet) will promote greater reforms and the home farming business in the coming years. Furthermore, numerous investments are being made in clean and green farming, along with the efforts to decentralise storage capacity enabling farmers to store their produce and earn remuneration at the right time.”

Budget Impact Analysis - Colliers and CREDAI-MCHI

 Union budget 2023-24 focuses on infrastructure development, green growth; thrust on affordable housing: Colliers and CREDAI-MCHI

• Income received by REIT/InvITs unitholders in the form of ‘repayment of debt’ to be taxed from April 2024
• 66% rise in allocation for PMAY scheme to bridge the demand supply gap in affordable housing
• Capital investment outlay increased by 33% to INR10 lakh cr to have multiplier effect across the sector

India, 1^st February 2023: The proposed Union Budget 2023-24 largely focuses on green growth, urban infrastructure, and technology. Contrary to the expectations, there were no direct announcements for the real estate sector. However, the government continued to focus on the affordable housing segment by increasing the capital outlay. The commercial real estate sector would also be benefitted by the incentives provided for start-ups, fintech companies and enhancing ease of doing business.

The budget has brought in parity in terms of taxation on all kinds of income for REIT/InViTs unitholders. Income received by REIT/InvITs unitholders in the form of ‘repayment of debt’ to be taxed from April 2024, which was earlier a pass through.

“The Union Budget 2023 has emphasized the need to accelerate economic growth, create new job opportunities, and build resilient infrastructure. Even though there was little for the real estate sector, especially our demand to increase the tax incentives on Principle and Interest rate Amounts on Home loans. However, the Government’s aim to boost and accelerate infrastructure development will eventually reflect in the growth and stability of the real estate sector”, said Mr. Boman Irani, President, CREDAI-MCHI.

“Overall, the budget focuses on driving consumption and capital investment to support growth. This will have a multiplier effect on various sectors such as real estate. At the same time, the government’s commitment towards affordable housing continues with a significant jump in PMAY allocation. On the commercial front, the continuous push to startups will give a fillip to activity in commercial office space. Further, the budget has brought in parity in taxation of incomes for REIT/InvIT unitholders by bringing in ‘repayment of debt’ under the tax bracket,” said Ramesh Nair, Chief Executive Officer | India & Managing Director, Market Development | Asia, Colliers.

RESIDENTIAL

PMAY outlay increased by 66% to INR79,000 crore

The allocation for Pradhan Mantri Awas Yojana has been increased by 66% to about INR79,000 crore. The increase in outlay will bridge the gap between demand and stock in affordable housing. The budget also provides more disposable income in the hands of homebuyers, which would help prospective buyers in the affordable and mid segment. Increased investments will provide opportunities for construction companies and contractors. On the other hand, reducing the surcharge rate from 37% to 25% in the new tax regime is likely to give some thrust to the luxury segment housing.

OFFICE

Innovation in India to rise high through the colossal uplift provided to start-ups in Budget 2023-24

The budget has announced certain start-up centric incentives such as extension of the date of incorporation of income tax benefits for another year. This can lead to strengthening and deepening of the start-up ecosystem and will translate into higher demand for commercial office space. Further, setting up 100 labs for developing applications using 5G services will open a range of opportunities in the technology sector.

INDUSTRIAL

Government extends subsidies for EVs till 2024

Government has announced multiple incentives for battery production in the country. 4000 MWH battery storage capacities will be supported with viability gap funding. Further, there would extension of the custom duty exemptions import of capital goods and machinery required to manufacture lithium-ion cells. Such incentives would give a thrust to the EV ecosystem and spur investments.

POLICY INCENTIVES

The government has reduced more than 39,000 compliances and decriminalized more than 3,400 legal provisions for enhancing the ease of doing business. A Unified Filing Process is also planned to ease out the information submission process in different government agencies. These provisions will help to set up new businesses in lesser time and lower approval-related costs for businesses.

The Government has taken strong initiatives to fuel the growth of sustainability measures in the Budget 2023-24. Further, INR35,000 crore is allocated towards net- zero commitment and energy transition. The government also announces to add Green Credit Programme in the Environment Protection Act to incentivize companies and local bodies who help in mobilizing sustainable actions.

INFRASTRUCTURE

Budget continues to focus on infrastructure development

The capital outlay for infrastructure was announced to be at INR10 lakh crore, at 3.3% of GDP. This is expected to have a multiplier effect across sectors and set a strong footing for a resilient growth. Measures and steps taken to make municipal and state finances more viable, would give them more elbowroom to incur expenditure and make them financially healthy in the long term.

Further, a dedicated amount of INR 10,000 crore per annum has been allocated through urban infra development fund for tier II and tier III cities. This will result in creation of quality of urban infrastructure thereby improving quality of life. This will also translate into higher demand for housing and commercial real estate.

Reliance Entertainment joins forces with the best creative minds to produce 2023’s most binge-worthy web series

The Studio has produced 13 shows in 5 years, additionally 10 shows green lit for development & 4 shows are in-production Mumbai, 01 February 2023: One of India’s biggest production houses, Reliance Entertainment, entered the streaming services segment in 2018, after producing a plethora of award-winning and blockbuster films across various languages and genres. The studio ever since has been riding waves of success, in the streaming services content creation space. It all started with a range of shows like Bose Dead/Alive, Sacred Games, and Ghoul among a host of other fiction and nonfiction projects. Sacred Games was India’s first Netflix original series and a major global breakaway show, that went on to win 29 awards across the globe, released in 191 countries and subtitled in over 20 languages. Reliance Entertainment has also produced many critically acclaimed, massively viewed, and award-winning shows, on multiple platforms. Black Widows an adaptation of a dark comic thriller from Finland, premiered on Zee5 in Dec 2020.  Sunflower, an original web series, in the quirky murder mystery space streamed the following year also on Zee5. Masoom, a thrilling family drama premiered on Disney Hotstar in 2022. Dr. Arora a slice-of-life dramedy was also shown on Sony Liv last year.  In the unscripted space released, series include Family Tandoncies a comedy special on Netflix starring famous comedian Amit Tandon, Teacher's Genuine Stories on Viu, a Malayalam adaption of the American Game show Are You Smarter than a 5th Grader? on Surya TV, among others. Sweta Agnihotri, CEO, Content Syndication, explains, “Reliance Entertainment has produced shows in a variety of genres and forms, including fiction and non-fiction. The very skilled in-house content drivers continue to offer outstanding material to global audiences across several languages. Creative collaborations with industry heavyweights such as Rohit Shetty, Imtiaz Ali, Vikas Bahl, Vikramaditya Motwane, and others have resulted in ground-breaking content across platforms.”  Going forward in 2023, Amazon Prime will showcase, what is being touted as India’s BIGGEST BLOCKBUSTER mounted at a massive scale. Rohit Shetty and Reliance Entertainment’s high-octane action show, Indian Police Force, is a story of the life and journey of a Delhi Police Special Cell Officer. The next tent-pole with Amazon Prime is Vikramaditya Motwane's Jubilee, a show that explores the stories and dreams that gave birth to Bollywood. The series is currently being post-produced for a mega premiere in 2023. The sequel to the critically acclaimed 2021 quirky murder mystery, Sunflower, on Zee5, directed by Vikas Bahl and starring Sunil Grover, is also in its pre-production stage. Vivek B. Agrawal, Producer, Reliance Entertainment adds, “Reliance Entertainment strives to continue working with some of the most creative minds in the business, in India and across the globe. Catering to the evolving needs of audiences worldwide keeps them striving to make clutter-breaking content across platforms, languages, and genres. The endeavor is to continue creating quality content, be it for theatrical releases or streaming services and contribute to the India story.” Further in 2023, Reliance Entertainment has a basket of intriguing shows in collaboration with some of the best creative minds in the business. Acclaimed filmmaker Milan Luthria brings his A game to the series space with an action-packed entertaining series. The show is in post-production currently and will land in 2023. Adding to the wealth of content, are shows in the offing from filmmakers like Tigmanshu Dhulia & Sachin Kaushik who are helming a crime thriller, mixed with chaos and power battles. Filmmakers Gurmmeet Singh, Shilpi Dasgupta, and Mrighdeep Singh Lamba are working on a story of star-crossed lovers set against the backdrop of opium smuggling Another collaboration that promises various stories for a global audience is being led by visionary Hollywood producer Peter Safran along with acclaimed writer David Leslie Johnson-McGoldrick. Vikram Bhatt & Shridhar Raghavan are working with them for the shows.   Namit Sharma, CEO, Dreamers & Doers Co. a premium content studio from Reliance Entertainment, says, “This year, there is plenty of interesting new series on the Reliance Entertainment slate, and we're working to produce both original content and excellent adaptations of great stories from around the world that will delight Indian audiences and provide them with a memorable viewing experience.”   Further, on the horizon, Reliance Entertainment has engaged directors and writers known for their diverse storytelling; Anand Neelakantan’s woman-led spy thriller, a crime thriller from writer Sudeep Nigam and, Garima Pura Patiyaalvi’s young girl’s journey in a strict convent school are scheduled to go on floors soon. For Reliance Entertainment this creative expansion makes the production house one of the most dynamic and diverse players in the domestic market.         Social Media Post #RelianceEntertainment, one of India's leading content production houses joins forces with the best creative minds to produce 2023’s most binge-worthy web series Media Release Link: https://bit.ly/RelianceReleaseSlate

The need to feed

ISRAEL MINISTRY OF TOURISM

India Office

1305 B, Marathon Futurex, Mafatlal Mills Compound, N.M. Joshi Marg, Lower Parel, Mumbai - 400 013. Maharashtra, India

www.goisrael.in | Tel: (+91-22) 61370700 | info-israel@goisrael.gov.il

The Need to Feed

Israeli Agriculture – a case study of entrepreneurship and innovation

An opportunity for cooperation in India

Invitation to participate in a professional seminar.

May 2-3, 2023

The need to feed has led the Israeli agricultural sector in the last century to its worldwide, well-known

achievements. The need to feed the Israeli population from a hostile environment with limited resources,

such as land, water, and manpower, created an innovative and creative sector that is now leading the world

in many aspects.

The Israeli Agri-tech sector has become an efficient industry, competitive to many others. As of today, this

is an export-oriented industry that is looking for new markets, new partners, and joint ventures with

global businessmen and companies around the world.

The agricultural sector in India is a major contributor to the country’s economy. It is facing similar

challenges like the ones Israel has had to face. That is, the need to feed a fast-growing population, while

urbanization creates a manpower shortage in the rural areas, deficiency of irrigation water, and

competition for land resources from other users. Just as with Israel, Indian agriculture must become more

efficient and more extensive to meet its challenges.

Being a part agriculture and siting program, The Need to Feed seminar will enable its participants to

meet Israeli farmers and businessmen, learn about modern agriculture, and build their own future

networks.

Sammy Yahia, Director of tourism India & Philippines

“Israel is widely recognized as a leader in the field of Agri-tech. The country has a long history of

innovation in agriculture and has developed several cutting-edge technologies for improving crop yields,

reducing water usage, and enhancing the overall efficiency of agricultural systems. Some of the key areas

of focus in Israel's Agri-tech sector include precision agriculture, water management, and alternative

growing methods such as hydroponics and aeroponics. Additionally, the country has a strong start-up

ecosystem that is driving further innovation in this field”.

For more information contact us:

office@agriquality.net

ISRAEL MINISTRY OF TOURISM

India Office

1305 B, Marathon Futurex, Mafatlal Mills Compound, N.M. Joshi Marg, Lower Parel, Mumbai - 400 013. Maharashtra, India

www.goisrael.in | Tel: (+91-22) 61370700 | info-israel@goisrael.gov.il

About Israel:

Whether road trips, city trips, swimming, wellness, active and cultural trips, rental car tours or family

vacations, the Israeli State Tourist Office provides information about the various regions, cities, and sights

in the Holy Land. Located in the eastern Mediterranean, Israel is no more than a seven-hour flight from

India. The country offers a sunny climate, a wide variety of historical, archaeological, and religious sites,

including houses several UNESCO World Heritage sites across the country, displaying an intriguing

contrast between the ancient and modern periods.

Experience the dynamic vibe of Israel.

For information about the different tourism offerings, visit www.goisrael.in

For the most up to date information on the guidelines and requirements for entering Israel, visit

https://israelsafe.com

POST BUDGET COMMENT BY Chirag Mehta, CIO, Quantum AMC

As expected, the budget is heavy on Capex (at 10 lakh crore, increase of 37% from FY23 revised estimates) which is needed to ensure the cyclical recovery continues. Infra (railways 2.4 lakh crore, 50 new airports and clean energy 35,000 crores) along with the Agri push will help the rural economy improve by boosting employment and incomes. Allocation to affordable housing of 79,000 crores, increase of 66%, will also help the housing market retain momentum. Incentives for local production in form of lower duties will also be helpful. Overall, this budget push on capex will ensure that the private capex greenshoots really sustain, help inclusive growth and make the economy become more resilient in light of the global slowdown.

Both Equity and Bond markets have reacted positively to the budget, as the thrust to maintain the cyclical recovery and largely maintain fiscal prudence has helped lift sentiments.

ICRA Quote on Union Budget 2023 | Commercial Vehicle | Shamsher Dewan, Senior Vice President & Group Head - Corporate Ratings, ICRA

 Mr. Shamsher Dewan, Senior Vice President & Group Head - Corporate Ratings, ICRA Limited, on the Commercial Vehicle segment. 

"The significantly higher allocation of Rs. 10 lakh crore towards capital investments and Rs. 79,000 crore towards affordable housing in the Union Budget of 2023-24 augurs well for commercial vehicle demand, especially the heavier multi-axle vehicles and tippers. The LCV segment would also benefit from the outlay of Rs. 75,000 crore towards improving first and last-mile connectivity for select sectors. ICRA also expects that the fund allocation towards scrapping of old government vehicles and extension of interest-free loans to state governments for the same would spur replacement demand, especially for buses. With green mobility identified as one of the priority areas, manufacturing, and adoption of alternative fuel vehicles, including electric vehicles, has also received an impetus."

Hero Electric Post - Budget Quote :: Mr. Naveen Munjal, Managing Director, Hero Electric

We welcome the Union Budget 2023 presented by the Hon’ble Finance Minister, with sustainability and green growth across sectors at its core. It encourages the implementation of programmes across sectors to reduce carbon intensity and create green jobs through unique initiatives like ‘Green Credit’, PM Pranam Yojna, Green Hydrogen Mission, etc. Fronting the ‘Net Zero Emission’ mission, it focuses on the promotion of battery energy storage systems to aid in fueling the electric mobility revolution. The Budget 2023 reflects the government's inclination to support the EV transition, enabling the creation of a carbon-free nation that thrives on sustainable, futuristic, and alternative fuel technology. We are confident that initiatives under green growth and sustainability will build awareness and help everyone contribute towards a clean and green future.

Budget Reaction quote from Mr. Rohit Mali, Director, Firefly Fire Pumps

  Mr. Rohit Mali, Director, Firefly Fire Pumps.

“We welcome the Union Budget presented today by the Indian Government. It is a highly supportive budget for the MSME sector, especially after the challenges faced by the sector during the last 2-3 years. The biggest support comes with the infusion of INR 9000 crores in revamped credit guarantee scheme for MSMEs. This will aid the existing MSMEs to grow their businesses at an exponential rate and encourage new businesses to enter the game.

With significant reforms announced today for the ease of doing business, owners of companies are secure & confident that these initiatives will in return provide a sense of surety for business owners. The Union Budget is progressive as the reforms safeguard the interests of MSMEs to ensure that the dues are cleared without delays.”

Post Budget quote by Satya Vyas, Founder & CEO, projecthero

 Budget 2023: The year of Construction & Tech Sector

The government’s continued push for infrastructure development is gratifying. The government aims to establish an Urban Infrastructure Development Fund (UIDF) with an expected budget allocation of ₹10,000 crore per annum to create urban infrastructure in Tier 2 and Tier 3 cities. They also plan to incentivize private investment in infrastructure development. These are welcome moves that should prove to be a huge boost to the real estate and construction sectors and will massively aid job creation. - Satya Vyas, Founder & CEO, projecthero

Budget Reaction from Revfin, an electric vehicles financing company focused at the cause of increasing sustainable mobility adoption

Mr. Sameer Aggarwal, CEO and Founder of Revfin Services

"The government's dedication to  ‘green growth’ approach promoting environmental sustainability, as emphasized by Finance Minister Nirmala Sitharaman in the recent Union Budget 2023, is a commendable development," stated Sameer Aggarwal, CEO and Founder of Revfin Services, an electric vehicles financing & digital lending platform. He added, "The emphasis on reducing carbon footprint and generating employment through green growth initiatives displays a deep comprehension of the interdependence of the environment and the economy. The 7 main priorities, referred to as 'Saptrishi,' will drive sustainable and environmentally friendly economic development and this, truly is in the direction of India seeking a leadership role in mitigating the global climate crisis."

Commenting on the inclusive aspect of the announcements made, Sameer said, "Budget is very positive for rural economy as it is talking about investments and credit schemes in agriculture, fishery, cattle etc. and this will generate higher income for rural folks and enable them to purchase L5 (e-rickshaw for commercial purposes) and better capacity to repay EMIs. Customs duty exemption is being extended to imports of capital goods and machinery required for the manufacture of lithium-ion cells for batteries used in electric vehicles to further boost green mobility."

Post Budget Reaction | Colliers | India Sotheby’s International Realty | Signature Global

 Mr. Ramesh Nair, CEO, India and Market Development, Asia, Colliers

"The Union Budget 2023-24 commits to green growth while focusing on augmentation and enhancing urban infrastructure, technology, and inclusive development. At the same time, the budget throws open the doors for increased consumption and capital investment, to drive growth. The capital outlay for infrastructure at INR10 lakh crore, or 3.3% of GDP is significant as it can lead to multiple effects across sectors and set a strong footing for resilient growth. This includes aspects such as the urban infrastructure development fund at INR10,000 crore per annum. A dedicated investment of INR 10,000 cr through the urban infra development fund will result in the creation of quality urban infrastructure thereby improving quality of life. This will also translate into higher demand for housing and commercial real estate.

For the real estate sector, the government has increased the allocation for Pradhan Mantri Awas Yojana by 66% to about INR79,000 crore. The increase in outlay will go a long way in bridging the gap between demand and stock in affordable housing. This will provide opportunities for associated stakeholders such as construction companies, contractors, etc. Further, expected changes in income tax slabs will result in higher disposable incomes, boding well for prospective homebuyers, mainly in the affordable and mid-segment.

The announcement to set up 100 labs for developing 5G service applications in India will give a boost to startups, especially in the technology sector. This, along with a continued focus on digitization can rekindle the IT sector, and spur some activity in the commercial office space.

We believe that the thrust on electric mobility is the need of the hour. The budget provided provisions related to battery production, and investment in energy transition, which will give a fillip to the EV industry in India. Between 2023-2027, the EV space in India is likely to see investments of INR94,000 crore (USD12.6 billion) across the automotive value chain. The government’s focus on creating more decentralized storage facilities for agricultural products can create more warehousing demand, especially on the cold storage front. This, along with the government’s disinvestment schemes can unlock immense value in the warehousing space".

Piyush Gupta, Managing Director, Capital Markets & Investment Services at Colliers India

"The slew of tax measures in personal tax indicates to provide more disposable income for the middle class and will boost consumer spending. With increased allocation to PMAY, the government's emphasis on providing housing to all, especially the urban poor, significantly boosts real estate spending. Real Estate housing demand continues to remain strong, and consistency in policy framework shall keep the momentum."

Mr. Amit Goyal, CEO, India Sotheby’s International Realty

The Union Budget has laid out a long-term path of growth and capital investment and that is extremely positive for the Indian economy.  The increased allocation to housing projects under PM Awas Yojana by 66% to Rs 79,000 crore will certainly help the affordable housing segment. Rationalization of tax slabs and enhancement of tax rebate is going to benefit the middle class which will boost domestic consumption and should aid in keeping demand for homes strong. Overall, the budget has addressed all concerns that are needed to keep India as the fastest-growing economy of the world.

However, the proposed cap on deduction from capital gains on investment in residential houses under sections 54 and 54F to Rs 10 crore can be a big deterrent for the housing industry. We sincerely appeal to the government to reconsider this limit.

Mr. Pradeep Aggarwal, Founder & Chairman, Signature Global (India), Ltd.

This year’s budget touched upon the most critical issue for the revival and growth of the affordable housing segment. PMAY's budgetary allocation increased by 66%, which is good news for affordable housing. The new allocation of Rs 79000 crores in the budget 2022-23 will help countless Indians realise their home aspirations. Also, the increased allocation will lead to more housing projects being taken up, in both rural and urban areas. The scheme will provide a much-needed boost to the housing sector and continue to assist those from the EWS and LIG sections of society in owning a home.

Moreover, the Finance Minister announced that infrastructure and investment will be the government's third priority, and capital expenditures will be increased by 33% to accelerate the country's development. This increased spending is expected to help create more jobs, spur economic growth, and create a more prosperous nation. Also, in order to convert cities from manholes to machine holes, an urban infrastructure development fund of Rs 10000 crore will be set aside every year for urban development. This fund will help enhance India’s urban living environment besides modernising India's cities and towns.

Budget 2023 -Quote on key focus areas (Youth-skilling, women centric, Rural Development, Sustainable growth) - Ms. Rupa Bohra, Managing Director, TNS India Foundation

 Ms. Rupa Bohra, Managing Director, TNS India Foundation highlighting the key focus areas (Youth-skilling, women centric, Rural Development, Sustainable growth) as discussed in the Union Budget, 2023 for your kind consideration.

Quote is as under - 

"I believe the union budget is pointing in the right direction for harnessing India's economic potential. The importance given to green growth, inclusive development, and women’s economic empowerment shows that sustainable development is at the heart of India's economic growth. The budget allocations reflect the significance of these components and the potential that vulnerable sections have to contribute to the economy. I am hopeful for a promising future as I see the current budget being the appropriate step towards a more empowered and equitable India. The focus on skill and capacity building of women and youth will prove to be beneficial for the growth of the economy, especially in rural areas.   However, we were expecting the Hon'ble FM to provide more clarity regarding the CSR expenditure by the corporate for the social sector as there is still some ambiguity regarding the same," commented Ms. Rupa Bohra, Managing Director, TNS India Foundation.

Post Budget Quote by Mr. Arvind Mittal, MD & CEO, Mouli’s Advertising Service Pvt Ltd.

 

The Budget 2023-24 continues to maintain the stance which the Govt. had undertaken for the last couple of years for adding enough stimulus for economic growth.

Encouragement to manufacturing, availability of higher disposable income to all, lowering of taxes, increased opportunities to skill, get employment and spend all augurs well for the growth momentum.  There are enough provisions to increase investment in business.

When the consumption increases there would be a propensity on the part of businesses to promote their services and product, which will lead to increased spending on publicity and outreach.

In addition to this all there are enhanced budgetary allocation to various public welfare schemes and introduction of new mass welfare schemes. Since the government uses dissemination of information as a tool for the public empowerment so that the public at large can avail of the benefits from the Govt. Schemes & Programs, there will be increased spending by the Govt. too on mass outreach and publicity.

This all sounds like music to anyone and everyone in the publicity and advertising industry. I feel, this budget will not only rejuvenate but will also allow the publicity industry to grow strong and earn substantially.

Zee Tamil launches new non-fiction show Super Jodi

Chennai, 01 February 2023: Catering to the diverse entertainment needs of the Tamil-speaking audience across the world by presenting them with intriguing fiction shows and clutter-breaking non-fiction shows, Zee Tamil has emerged as the entertainment destination of choice over the past few years. Over the past two decades, the channel has also introduced several homegrown non-fiction formats like Sa Re Ga Ma Pa, Dance Jodi Dance, Junior Super Star, Super Mom, amongst others. Now, once again, in a bid to take the entertainment quotient to the next level, Zee Tamil is all set to treat its viewers with the launch of yet another indigenous reality show, Super Jodi. A show that challenges the real emotional bond and human connections of 10 real-life celebrity couples, Super Jodi will air every Sunday at 6.30 pm starting from 5^th February 2023, only on Zee Tamil.

Super Jodi will see ten real-life celebrity couples being put under one roof in a grand setting, but with a twist. The show will feature the mental and emotional bond and strength between the couples. It will be interesting to watch how they deal with the challenges together and win the tasks. The best jodi, which emerges as the winner of the challenge, will be celebrated every week. However, only one Super Jodi will emerge as the winner of the show at the end of the season with systematic eliminations from time to time.

Rather than just entertaining the audiences with couple-based tasks, the fresh new reality show will put each jodi’s relationship to the ultimate test. The upcoming show will have the most popular judges of Tamil television, Baba Baskar and gorgeous Sangeetha. While they have mesmerised the audience during Dance Jodi Dance, now they are making a comeback with Super Jodi. Be rest assured that the comic timing of Baba Baskar and the quirky comments of Sangeetha will leave the audience and contestants in splits.

The 10 popular jodis will have to endure a lot of pain, challenges and roadblocks throughout their journey, which will bring out their raw emotions and bring them closer. The ultimate Super Jodi will be the couple that has proved their love, compassion, bond, emotional and mental strength as well as a deep understanding throughout the show. The contestants will be judged on the basis of their performances as well as their emotional bond and understanding of each other.

Featuring the most celebrated couples from the Tamil Nadu Television and Film Industries as well as trendsetters on social media, Super Jodi will be a unique and never-seen-before show on Tamil GECs. From a fiction artiste jodi – KPY Naveen & Krishnakumari to an aged couple -  Selvakumar & Chinnaponnu, to plus size jodi – Vikram & Dhivyaa, to a couple who got married against their family’s wishes – Kenny & Shanmathi, each of the 10 jodis are unique in their own way. While these four couples have already made a wave with their intriguing promo videos, it will be interesting to know who are the other popular Super Jodis joining the show!

Hosted by the hit anchor jodi of RJ Vijay and Kiki Vijay, the show will be filled with exciting rounds of challenges basis weekly themes that will keep the audience on the edge of their seats. All in all, Super Jodi is sure to entertain families with its refreshing and fun-filled format.

Don’t miss the all-new reality show – Super Jodi - every Sunday at 6.30 pm starting from 5^th February 2023, only on Zee Tamil

Post Budget reaction quote - Ondrej Kubik, CEO, Home Credit India

Quote

“Union Budget has paved the way for unleashing the potential of Indian economic growth by strengthening a resilient and inclusive finance, keeping the right balance between pro-growth and fiscal prudence amidst global headwinds. The big boost is government’s growth-oriented push with continued rise in capital outlay, which will give an impetus at various structural fronts, primarily, employment generation, rising consumption, strengthening affordability, and thereby, moderating inflation. We welcome the steps taken to enhance digital infrastructure like single KYC for individuals & businesses and digi-locker, focus on financial inclusion, ease of business & living, skilling youth, and a full thrust to green & clean economy, ensuring policy direction stability and foresighted outlook to keep the economic growth engines on accelerated path. As a consumer NBFC, we are optimistic about the road ahead and will continue to work in alignment with government’s vision and policies.”

~ Ondrej Kubik, CEO, Home Credit India

Unquote

About Mr Ondrej Kubik:

Ondrej Kubik became the CEO of Home Credit India in July 2018, however, his journey with Home Credit Group began in February 2008. He has years of rich and diverse experience in financial controlling, performance management and financial consultancy as well as in business intelligence. Prior to joining Home Credit, he held various positions in finance industry, both at commercial banks and investment traders.

His career spans from accounting and financial consultancy to top executive positions across Home Credit’s countries. Over the last 14 years, he has been in various strategic roles within Home Credit Group. He was the Country CEO in Kazakhstan (a role he held since September 2014-18) before joining Home Credit India, Chief Financial Officer in two of the Group’s countries – in Kazakhstan (2010 - 2012) and later in Belarus (2012 - 2014). In Belarus, Ondrej also served as Acting CEO for a period of time. Ondrej graduated from the University of Economics in Prague with a Master’s degree in Finance and Commercial Law and has a Diploma from the CFO Academy in London. He has been an ACCA Member since 2002 and a Chartered Financial Analyst since 2006.

About Home Credit India:

Home Credit India Finance Pvt. Ltd. is a local arm of the international consumer finance provider Home Credit International with operations spanning Europe and Asia and committed to drive financial inclusion in India. The company is committed to drive credit penetration and financial inclusion by offering wide financial solutions that are simple, transparent, and accessible to all. Home Credit India has an employee base of ~5000 and has been consistently expanding operations since its entry in 2012, with its operations spread over 625 cities across India. The company has a strong network of around 53,000 points-of-sale (PoS) and is growing with a customer base of 15 million customers, driven by Pan-India expansion across major markets, a range of diversified and innovative products backed by superior customer experience.

Post Budget quote by Nikhil Kurhe, Co-founder & CEO, Finarkein Analytics

 "Budget 2023: The year of Digital Public Infrastructure

The first five minutes of the budget mentioned Diital Public Infrastructure like Aadhar, UPI, and CoWIN. I think that set the tone perfectly for what to expect from the Finance Minister for the next ninety minutes, and the budget has definitely delivered on all the right fronts.

The focus remained on a people-centric world order combined with sustainable development. To facilitate ample opportunities for citizens to fulfill their aspiration, a strong impetus to growth and job creation was a core focus of the budget. Additionally, the government’s fiscal discipline and sticking to deficit targets is commendable and puts India on a path of strong macroeconomic stability. While the reaction to the last 15 minutes and changes to the personal tax under the new regime were palpable and expected, I strongly believe that there were a few foundational pieces that have been set in motion in this budget which will have a multiplier effect in the coming years.

The first big winning theme on the DPI front I believe has been DigiLocker. DigiLocker has had a slow start over the years but has rapidly been activated with strong core utility and anchor use cases. DigiLocker + Aadhar is a robust identity and document layer and will pay a key role in facilitating risk based KYC. PAN as a common identifier for businesses will again be a central focal point, although I’m a little disappointed that Udyog Aadhar wasn’t promoted as highly in tandem with PAN. The scope and depth of documentation that will be available through DigiLocker is expanding and I expect usage and uptick will naturally follow. A one stop solution/centralized IT system was another recurring theme around KYC with a single window for identity and address updates will also be built on existing identity DPIs.

The second core theme which I feel has a lot of scope and can move the needle significantly for the Indian economy is the Agristack. A Digital Public Infrastructure focused on the agriculture domain that will be open source, based on interoperable open standards will be a game changer. As more data is made available for relevant decisioning, ancillary services which can drive growth and revenues for agriculture will flow seamlessly. I expect new credit and insurance products around agriculture to be built exclusively around the Agristack in the coming year. Furthermore, the budget mentioned a fund for agritech startups and initiatives which is yet another impetus for this sector to pick up and set us on a multiyear path.

Lastly, the third core highlight which I believe will fly under the radar is the National Data Governance Policy. This is absolutely massive. Cutting edge Artificial Intelligence that we see today like ChatGPT, Google’s LAMBDA and other AI models are largely following similar architecture. Difference in their experience and utility is a function of the datasets they are trained on like wikipedia edit history, social media, and other publicly available datasets are used to train these Large Language Models. India with our Open Finance (Account Aggregator) and Open Health (Ayushmann Bharat Digital Health Mission) initiatives will be uniquely positioned with datasets having such wide breadth and depth in the quantity and quality of data available in finance and health domain. Combined with the right policies, anonymised and de-identified datasets can be made available to researchers, think tanks, and other relevant entities to build cutting edge AI in these domains. In a year or two the AgriStack will provide a steady stream of data to build novel AgriAI models as well. Having a robust National Data Governance policy will be key to ensure there’s no compromise on privacy and security of data principles though. Additionally, the value that will be created from this policy will naturally accrue to the nation and have far reaching implications beyond Indian borders as well.

I would say the budget was very foundational in nature with benefits and initiatives that will continue to deliver dividends not only for the coming fiscal, but beyond as well." - Nikhil Kurhe, Co-founder & CEO, Finarkein Analytics

Healthcare Budget Reaction quote from Mr. Raktim Chattopadhyay, Founder & CEO, Esperer Nutrition Group

The budget 23-24 expressed by Ms Sitaraman is no doubt a sign that the Indian economy is moving towards a bright future. I think the budget has the right balance from education to health to agriculture to rural development, it all as expected like a common man's budget . Significant increase over capital expenditure is going to add value in growing Indian GDP. The budget has rightly focused on controlling inflation and generating jobs. And as per me this budget is an immediate relief to the people.

Post Budget quote by Dr Jogin Desai, Co-founder & CEO, Eyestem

 

Budget 2023: The year of Healthcare & Pharma Sector

“The mission mode programme to eradicate sickle cell anemia can be tremendously impactful.  Such programmes are a marathon and not a sprint yet can  create a fantastic template for programmes for other diseases like curable blindness in subsequent years.  Also glad to see the focus on research and development in the pharma sector which is a much needed push to ensure a local ecosystem of innovation is created in India to make us self-reliant. One of the centres of excellence we would certainly like to see is plug and play GMP manufacturing infrastructure for startups in the biotech space. Overall, very pleased to see a deliberate method to nudge the Indian private and public ecosystem towards innovation and partnership.” - Dr Jogin Desai, CEO & Co-Founder, Eyestem

Comment by Ghazal Jain on Gold Price movement

 Spokesperson :  Ghazal Jain, Fund Manager, Alternative Investments , Quantum AMC

Domestic gold prices moved up by about 1% post the Budget 2023-24 announcement. Finance Minister Nirmala Sitharaman maintained the status quo and did not reduce the custom duty on Gold as was widely anticipated. In response, domestic gold prices which were trading at close to 2% discount saw some of the discounts unwind.

Reaction from Anurag Mathur, CEO, Savills India | Union Budget 2023 - 2024

 

“The 2023 Union Budget is a testament to the government's commitment to inclusive growth, with a focus on strengthening the country's infrastructure, empowering the rural sector, and driving innovation for a better tomorrow. Although the real estate sector did not feature prominently in the budget, derived benefits are likely to give further boost to the sector especially in these times of a ‘Robust Growth Phase’ post the pandemic affected years of 2020 and 2021.

A steep rise in Capex to 3.3% of GDP continues to be the guiding force of the budget, providing a strong impetus to infrastructure and allied sectors. Commercial real estate and manufacturing sector will get derived benefits with focus on green technologies in automotive sector. Furthermore, with an annual allotment of INR 10,000 cr towards Urban Infrastructure Development Fund, real estate growth in Tier II and III cities of the country is expected to pick up significant pace. In our recent discourses and publications, we have repeatedly highlighted India’s need for creating a large pool of urban centres. Simialrly, Life sciences sector, which is a key to India’s future economic growth, stands to benefit from a new program for pharmaceuticals, as research gains greater attention. The Budget has also focused on the development of GIFT City which will boost the growth of the financial sector, creating job opportunities and promoting economic development.

Direct real estate announcements, although scant this time, included enhanced allocation to the PM Awas Yojana. With a 66% increase in allocation, the total fund outlay touches INR 79,000 cr. The much-awaited direct tax benefits and changes to the income tax slabs are likely to put more money in the hands of middle-class households, positively impacting spending capacity and savings. This should bode well for the residential segment, especially affordable housing.” – Anurag Mathur, CEO, Savills India

Astral Limited - Union Budget 2023 Reaction Quote

“We welcome the Union Budget 2023 as it presents a road map for further strengthening the infrastructure development in this new age of India.  The increase in capex in the infrastructure segment to 33% will boost key players involved in segments such as water and urban development. This announcement also augurs well for the demand of building and construction materials.  Additionally allocation of 79000 cr towards PM Awas Yojana will be a great support to the construction & allied industries. We are pleased with the measures taken to promote sustainable cities, as the finance minister said infrastructure growth has been offering multiplier effects in the economy benefitted. Also, the reforms in indirect taxes were straightforward which promote exports, encourage green growth, and most importantly boost domestic manufacturing. The initiatives introduced in the agricultural sector are remarkable and will help in adding value to the segment and overall economy.”

Budget statement | Lifesciences Leader, EY India

 “There were some key highlights in this year’s Budget for the Pharma and Healthcare Industry.

On the positive front, the government health expenditure has shown an increase from 1.40% of GDP in FY 19 to 2.1% of GDP in FY 23 viz a budget plan of Rs 88,956 crore for FY 23-24. To boost R&D and innovation the Government announced a new pharma program to be undertaken through centres of excellence.  Further facilities in select ICMR labs will be made available for research by public and private medical faculties and private R&D teams for collaborative research. These are steps in the right direction.

Other initiatives announced in the budget which could help the Healthcare industry include a plan to have three Centres for excellence of Artificial Intelligence for health, agriculture, and sustainable system to foster partnership of industry players in conducting research and develop cutting edge applications.  Also 157 nursing colleges are to be set up in the existing medical colleges to boost the much-needed manpower for the healthcare sector. 

Further, current customs exemption for specified products are extended for lifesaving drugs and specified drugs, medicines, diagnostic kits by two years up to 31 March 2025 and for Specified drugs and medicines supplied free of cost to patients under Patient Assistance Program, specified medical and surgical instruments, hospital equipments up to 31 March 2024.

Having said that, the much-hoped income tax benefit in the form of higher R&D linked weighted deductions or simplification of the patent box regime were not considered.  Also missed was extending customs exemption for goods used in pharma sector for R&D beyond 31 March 2023.”

Quote on Union Budget 2023 - Mr. Rishabh Siroya, Founder, Siroya Corp & President NAREDCO NextGen - Maharashtra

 Quote is as under - 

An extremely well-balanced budget focussed on growth driven by capital expenditure while giving an adequate push to rural welfare and agriculture. Government has taken it to a new zone with a well-tuned perfection between growth and stability. The rise in capital expenditure by 33% to Rs 10 lac cr is the shot in the arm heading a multiplier effect on the economy. While high amount of schemes and tax benefits to rural economy and taxpayers will enhance consumption growth in India. Much beyond expectations, a win-win for households and corporates

This budget enables domestic consumption growth while boosting business & investment sentiment for corporates

Watch Bill Murray in the comedy-drama ‘Groundhog Day’ on &PrivéHD

Mumbai, 1^st February 2023: &PrivéHD has built its recognition in the country as the channel for nuanced cinema lovers. The channel with its programming makes sure to present the best critically acclaimed films from over the world and across languages for viewers’ daily dose of entertainment. This Friday, on the occasion of Groundhog Day the channel brings Bill Murray starer Groundhog Day with its property Prive Lounge. For the unversed, Groundhog Day derives its relevance from the Pennsylvania Dutch superstition that if a groundhog emerges from its burrow on 2^nd February and sees its shadow due to clear weather, it will retreat to its den, and winter will go on for six more weeks; if it does not see its shadow because of cloudiness, spring will arrive early.

Groundhog Day is the story of a self-centred weatherman who finds himself in a time loop on Groundhog Day, and the day keeps repeating until he gets it right. A weatherman is in his fourth year of covering a story and he makes no effort to hide his frustration. He wakes up on one fine day, only to discover that it’s Groundhog Day again, and it keeps repeating itself. First, he uses this to his advantage and then comes the realisation that he is doomed to spend the rest of eternity in the same place, seeing the same people do the same thing every day.

Watch the hilarious drama Groundhog Day this Friday, February 2^nd at 5:30 PM only on &PrivéHD