Budget 2021: Better infra, equal opportunities for women remain main highlights for India Inc bosses

Corporate India bosses share their thoughts on Budget 2021:

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Anil Gupta, Chairman, KEI Industries Ltd

“The prime objective of Budget’21 is to boost and revive the economy that suffered a major setback due to the global pandemic COVID-19 while also increasing the purchasing power of the customers. Allocation of Rs 3.05 lakh crore outlay over 5 years for a more revamped reforms-based power distribution sector scheme will provide assistance to the DISCOMS. Further, the government’s announcement to boost renewable energy will help us frame the sector very differently and efficiently. Looking ahead at the zeal to augment the country’s infrastructure with highway, enhancing public transport in urban areas will prove to be beneficial for the overall development of the society and give the much needed boost to manufacturing companies like ours to get back to powering the economy as per pre-covid levels.”

Karthikeyan Natarajan, CEO, Cyient

“Coming out of the pandemic year, the Finance Minister has laid down a well-rounded Budget. Focus on setting up of Fintech Hub at Gift City, enhancing digital payments and use of AI in governance – all provide a strong platform for Digital India. Allocation of Rs 50,000 crore towards National Research Foundation will work towards boosting India’s innovation quotient on the global map and is a welcome move. Allocation of funds as incentives for promoting digital payments is also a step in the right direction and a significant step in ease of doing business. Lastly, increase in allocation for highways and railways will lead to employment generation and boost the economic growth of the nation.”

Shammi Pant, Co-Founder, myJen.ai

“This budget reinforces the focus on the fundamentals with intent to revive the economy from the unprecedented pandemic setback of last year. In a major way it focuses on health, infrastructure and further rationalization of our financial regulations, which is going to give the economy an impetus in revival and put the focus back on fundamentals. The startup community welcomes the attention given in Budget speech of the Finance Ministry and we thank for announcements regarding tax holidays and capital gain exemptions.”

Kausshal Dugarr, Founder, Teabox

“Last year due to the pandemic, production of Indian tea was behind its global counterparts but the price realisation was better as compared to any other years. Allocating 1000 crores for Assam and West Bengal tea industry at this point is a welcome move, which will boost the Indian tea industry for the coming years. The scheme for tea farmers declared in the Budget for the welfare of children and women, is a necessity at this point of time, more than ever and will help in improving things on the ground level and we're hoping this is executed in the best possible way.”

Paul Dupuis, CEO, Randstad India

“This is a transformative budget that has struck the right notes for an emerging global alignment. The direction in which the Government intends to move is positive, with key solid themes emerging out of this budget – infrastructure, maximum governance, disinvestment and equal opportunities for women. What is especially encouraging for our industry is the deliberate emphasis on diverse employment generation – with a specific focus on contractual, gig and platform workers. The extension of social security benefits – for the first time, globally to this class of workforce will create the right impetus for remote and flexible work. This will undoubtedly boost employment across the four corners of the country, assure about 3 million contractual workers during uncertain economic cycles, and place India firmly as a global talent hub.”