Industry Experts Come Up with their Reactions on Union Budget 2022-23

Budget 2022-23 announced today. From business people and economists to housewives, everyone wait eagerly for the Union Budget and its important points.

Some of the industry experts, academicians and economists are presenting their views on the Budget 2022-23 that one must go through.

Mukesh Kalra, Founder and CEO, ETMONEY

It was a well-rounded budget with a continued focus on growth in different sectors like education, health, infrastructure, and agriculture. The announcement of the setting up of 75 digital banks across 75 districts of the country gives an additional boost to digital payments and the fintech ecosystem in the country.

Dr. Saon Ray, Professor, ICRIER.

The budget recognizes the importance of barriers in improving our export competitiveness and has addressed these barriers e.g. logistics, SEZ etc. The PM Gatishkati National Master Plan and the development of Multimodal Logistics Park at four locations are examples. The overall vision in the budget is to encourage domestic manufacturing in the country and promote exports.?

Sunil H Talati, SEPC, Chairman, Ministry of Commerce and Industry

The Union Budget as presented by Hon?ble Finance Minister is growth oriented, forward looking, focussing on infrastructure and CAPEX. The budget will serve the poor farmers and create new job opportunities. Focus on roads, railways, airports, Mass transport, waterways and logistics infrastructure will drive the PM Gati Shakti programme and propel inclusive development.

Amit Sharma, Founder and CEO of eExpedise Healthcare

The projected economic growth of the country in this financial year is expected to be 9.2%. Finance Minister, Nirmal Sitarama has focussed largely on the health industry by announcing various growth projecting budget allocations across various segments. As expected, an open platform for the national digital health ecosystem is suggested to roll out that shall consist of digital registries of health providers.

Anika Parashar, Founder and CEO at The Woman Company

The emphasis on mobile connectivity and broadband, especially in rural India will boost economic development in the country. It will help bring the next set of consumers to the D2C ecosystem. The launch of three new schemes for the integrated development of women and children is a positive step forward to bring women and child health and welfare to the forefront.

Dr. Arun Singh, Global Chief Economist, Dun & Bradstreet
Extension of ECLGS up to March 2023 is in line with broader expectations and certainly supports MSMEs in the pandemic time. Successful execution of various announcements under PM Gati Shakti has potential to kick start economic recovery and provide sustainable growth, also create impactful infrastructure in the country. Revamp of CGTSME is a long pending issue and will help banks to extend lending to MSMEs in the country.

Toshendra Sharma, Founder and CEO of NFTically

The budget paves a way for digital savvy India, impacting betterment and quality of life and ease of doing business. The Budget 2022 brings super positive news for the Web3.0 Startup ecosystem in India and brings a long term direction. Blockchain Innovations companies have exposure to Cryptocurrencies and this decision by the Government of India will help such core tech innovation to flourish without any fear.

Uday Narang, Founder and CEO, Omega Seiki Mobility

The Union Budget 2022 has several positive signals for the electric vehicle, manufacturing and logistics sector, which are fundamental to the economy. The announcements made today, clearly shows the shift towards sustainable development with close collaboration with the private sector.

Padmaja Ruparel (Co-founder of Indian Angel Network & Founding Partner, IAN Fund)

IAN is glad that our demand for an expert committee to look at regulatory frameworks for the VC industry is addressed in the Union Budget 2022. This budget opens up huge opportunity for start-ups across Defence, Agriculture, Drone, Fintech and mobility sectors. The focus on digitization across sectors will lead the way towards innovation for start-ups. Introduction of digital rupee using blockchain and other technology will further boost opportunities for start-ups in India. We appreciate the FM?s empathy, in light of covid, by extending the period by a year for startups to avail tax incentives.

Ashish Agarwal (Director & CEO at SEROS Logistics)

Government commitment towards Capex hike of 35.4% and a focus on smart expenditure has ensured the acceleration of what the economy has received will continue. As announced in the interim budget 2022, India has emerged as the fastest highway developer in the entire world. The Gati Shakti master plan for expansion of highways/expressways by 25,000 kms in FY23 will go a long way for the logistic sector.

Tanmay Kumar (Chief Financial Officer, Shiprocket)

We appreciate Government?s empathy towards the start-ups by extending the period by a year for start-ups to avail tax incentives around the tough times of Covid. The announcement of \'One station, one product\' under the PM Gati Shakti plan will help the supply chain of local products. The budget has focused on the development of infra projects which will boost the logistics system in India and will help us to become enablers of an effective logistic system. The Government has emphasized on digitization of payments and it?s a good news for small businesses and entrepreneurs who wants to start their business.

Brijesh Samantaray, Co-founder at Propelld

The past two years have been a challenge for students due to the major shuffling of education from offline to online. It\'s great to see this year\'s budget considering this digital transformation as one of the priorities. This digital transformation would require schools and offline educational institutions to have better resources, which opens a gate full of opportunities for the fintech financial players.

Nitesh Jain (Founder & CEO, BeSingular)

This is a forward looking budget which is both inclusive and progressive. Thrust on digitalization of education and focus on upgrading syllabus across colleges will equip upcoming human talent with the right tools. The use of high-technology such as Kisan drones as well as battery-swapping will turn out to e growth engines for both agri-based and service-based economies. The introduction of a regulated digital currency is forward-looking and is in the spirit of harnessing blockchain and other exponential technologies

Nikhil Sethi (Founder & MD, Zuvomo)

The announcement by the union government to levy a 30% tax on crypto is a progressive move. This paves the way for increased adoption of the groundbreaking blockchain tech. The decision to introduce an RBI-backed CBDC by 2023 is a phenomenal decision reflecting the centre\'s futuristic approach.

Dipanjan Purkayastha(CEO & Co-founder, HyperXchange)

The announcement of green bonds to raise capital focused towards carbon footprint reduction could be a significant milestone for industries that work towards sustainability. The green bonds will aid public sector projects, which in turn would support and grow ancillary private businesses that provide products and services towards this. The proposed reforms around SEZ administration and streamlining customs to only risk-based checks will significantly enhance the productivity and effectiveness of export-oriented units that manufacture products and services exclusively for the global market.

Shishir Jaipuria, Chairman FICCI Arise and Chairman Seth Anandram Jaipuria Group of Educational Institutions

The Union Budget 2022 takes forward the vision of universalizing quality education as enshrined in the National Education Policy 2020. The decision to expand the PM e-VIDYA scheme to 200 TV channels and to also develop high quality e-content in all spoken languages will benefit the students of grades I to XII who suffered learning loss due to the closure of schools during the Covid-19 pandemic. The formation of Digital University, as announced in the budget, will be a laudable initiative.

Gururaj Bhat, Chief Finance Officer, Karle Infra Pvt. Ltd.

\"It is a welcome approach to work with the state governments for reduction of time required for all land and construction-related approvals, for promoting affordable housing for the middle class in urban areas. Added to this, the proposed uniform process for registration with the implementation of ?One nation one registration software? to facilitate, anywhere registration of deeds & documents is also a welcome move.

Ashwin Mittal, CMD and CEO, Course5 Intelligence Ltd.

Union Budget rightly envisioned the roadmap for India entering Amrit Kaal, the 25 year long leadup to India@100. Analytics is the key to successful implementation of the multi-modal PM GatiShakti master plan with its seven-engine focus for economic transformation and inclusive development for India@100.

Nandini Taneja, Vice President, Reach Pro Group

The Union Budget demonstrates a strong commitment to urban growth via sustainable living and better governance. The establishment of a high-level committee for urban planning is a crucial move in the FY22-23 budget to define the future urban settings in terms of transportation, employment, health, education, and living. The budget is progressive, particularly in its emphasis on infrastructural development for the country. The emphasis on sustainable living with opportunities for all, including women and youth steers a positive approach for a sustainable tomorrow.

Rajiv Gandhi, CEO & MD, Hester Biosciences

\"The Union Budget 2022-23 is very progressive, focussing on - farmers, agriculture productivity along with incorporation of digital technology with various segments, uplifting and supporting small enterprises and boosting infrastructure in the country. Along with that, there\'s a lot of importance given to Atmanirbhar Bharat and PM Gati Shakti.\"