Budget Wishlist 2019: These women bosses want concessions to create jobs, push for retail growth
Jaipur Jewels' Sarika Naheta hopes that the FM's Budget benefits the jewellery industry in the long run.
By ET Online | Updated:
BCCL
Sarika Naheta (L) and Dipti Tolani (R) are waiting with bated breath for this year's Budget.
Even as young millennials engage in quick buys at the click of a mouse, their purchasing power has not seen a proportionate spike, thanks to a slowed down economy and fewer jobs being created.
And that is something that some feel can be corrected in the Government’s Budget on July 5.
With Nirmala Sitharaman in the driver’s seat, women in the luxury and startup space are optimistic that the Finance Minister will make job-creation a priority, apart from better benefits, opportunities and policies for start-ups.
Sarika Naheta, Director of Jaipur Jewels, hopes that the FM's Budget will boost the economy, and benefit the jewellery industry in the long run.
The purchasing power of young Indians is taking its own sweet time to catch up. "The jewellery sector has witnessed a steady growth in the past, thanks to the government's governance policy. With increase in disposable income, the retail growth will go up too. For this year's Budget, we expect a standardised policy that will help the industry flourish further, and help (us) with expansion plans in Tier-2 cities," she says.
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When it comes to startups, Tithi Tewari, Founder & MD ofTrezi by SmartVizX, feels that the Government should focus on 'removing angel tax, reducing corporate tax and making capital more easily accessible'.
Tiwari said, “PM Modi has been bullish on startups in the new India and President Kovind sent out a global signal when he said, 'the goal is to establish 50,000 startups by 2024'. Now, the Government must convert aspiration into action and really focus on making it easy for startups to do business."
Tiwari feels that the Budget should focus on removing angel tax, reducing corporate tax and making capital more easily accessible. She also added that the FM's Budget should create provisions that nurture innovative ideas and encourage more women in tech, "Great ideas are emerging from women coming back post-maternity breaks. It’s sad to see less than 9% female leaders in startups in India. Women in technology need to be encouraged in constructive ways in the new Budget, innovative ideas need to be funded and the overall eco-system needs to nurtured.”
Meanwhile, Dipti Tolani, Founder and CEO of SALT Attire, is hoping for an encouraging push from the current government for women entrepreneurs. Among other benefits, the top boss of women's luxury clothing brand wants the new Budget to include tax sops for start-ups to encourage job-creation.
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"The government should support the start-up sector with tax reduction benefits. A separate tax bracket should be created for the new businesses that pay GST. The government should look to encourage more women entrepreneurs by ensuring the accessibility of funds at lower rates. If start-ups are able to create jobs and add to the nation's employment opportunities, further concessions should be given to such businesses," she adds.
Women Inc Has Wishlist Ready For Modi 2.0 - And It Includes GST, Jobs
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Women Inc is very hopeful from NDA 2.0 after its landslide victory for the second time with 350 seats.
From financial inclusion and GST to Triple Talaq and financial literacy for women, the top bosses have a lot of expectations from the Modi-led government's second term.
Here's a look at what the female leaders of India expect from the new government.
Women Inc is very hopeful from NDA 2.0 after its landslide victory for the second time with 350 seats.
From financial inclusion and GST to Triple Talaq and financial literacy for women, the..
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The top boss thinks NDA's landslide victory will allow the new government to complete their unfinished tasks from the last tenure.
She said, "The results will offer a stable government focused on all-round economic and social growth. I hope to see momentum in infrastructure spends, robust job creation, and making India stronger than before."
"Insurance penetration is very low in India. From an insurance sector stand-point, the government should focus on the retirement space. They should also take initiatives like consider making GST zero-rated for pension and long-term savings. More support to the private sector will help improve the huge penetration gap"
The top boss thinks NDA's landslide victory will allow the new government to complete their unfinished tasks from the last tenure.
She said, "The results will offer a stable government focused on al..
Read More
The founder of LXME, a digital financial planning platform for women, congratulated BJP and PM Narendra Modi for an astounding win. She feels NDA's victory will ensure stability and continuous reforms for the country.
"In the last four years, we saw a lot of reforms particularly in the field of financial inclusion. While these reforms will pay rich dividend in the coming years, I hope that the government focuses even more aggressively on the financial inclusion and financial literacy for women. These initiatives will make it easier for the female population to access products that will help them earn, save and invest for a secure future," she stated in an email interview to ET Online.
"This will enable the entire society to rise financially and add tremendously to India’s GDP," she further added.
The founder of LXME, a digital financial planning platform for women, congratulated BJP and PM Narendra Modi for an astounding win. She feels NDA's victory will ensure stability and continuous reform..
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Monte Carlo's top leader hopes for an exciting future for the thriving domestic apparel industry.
In a query to ET Online, Oswal stated, "In recent years, incentives by the central government - Duty Drawback Scheme and Rebate on State Levies (ROSL) - have helped the local players increase their exports. Streamlining the implementation to make sure customs receives money from the textile ministry on time will ensure that the companies reap full benefits of the scheme. While the bump in import duty levied is definitely good for domestic manufacturers, a uniform GST rate of 5 per cent will help boost production and facilitate voluntary compliance."
Monte Carlo's top leader hopes for an exciting future for the thriving domestic apparel industry.
In a query to ET Online, Oswal stated, "In recent years, incentives by the central government - Dut..
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The Elara Capital Economist thinks the Modi government’s second term is likely to be more challenging than the first with limited fiscal space amid compelling priorities and electoral promises. She also feels that the solution to these problems is complex, and requires a radical shift in the economic policy.
"The first five years of the government were dominated by housing, roads and toilets. We hope to see focus on investment, jobs and nursing of the dislocated financial sector in the next tenure. The Modi-led government must look at immediate priorities like taking measures to revive consumption, addressing financial sector dislocation by recapitalising PSU banks, boosting manufacturing sector to ensure job creation, and solving the conundrum of skill shortage in the country to ensure employability."
She further pointed out that the NDA is expected to gain majority in Rajya Sabha by 2022, which will enable them to pursue difficult legislations like Triple Talaq and electoral reforms which have been a part of its social agenda. From a portfolio positioning perspective, she recommended investment over consumption. In terms of asset class, she expects the small- and midcaps to outperform large caps.
The Elara Capital Economist thinks the Modi government’s second term is likely to be more challenging than the first with limited fiscal space amid compelling priorities and electoral promises. She ..
Read More
Veri5Digital CEO hopes to see a big boost in FinTech sector, and financial inclusion in NDA's second term. Formerly known as Aadhar Bridge, Khosla Labs venture, is India’s leading Aadhaar-based API platform for digital authentication.
"FinTech will continue to be a sunrise sector. With supportive government regulations, it will exhibit tremendous growth and innovation especially in the sachet-size financial products. With our suite of onboarding & digital products (KYC, eSign, eNACH), our company will play an important part in the growth of this sector. We will be able to help BFSI maintain compliance and costs in the delivery of these sachet-size solutions," she emphasised.
Veri5Digital CEO hopes to see a big boost in FinTech sector, and financial inclusion in NDA's second term. Formerly known as Aadhar Bridge, Khosla Labs venture, is India’s leading Aadhaar-based API ..
