Budget Quotes – 2

Mr. Baba Kalyani, Chairman & MD, Bharat Forge Ltd. budget reaction quote with you.

“I congratulate the Hon’ble Finance Minister for an excellent budget that lays strong emphasis on strengthening the fundamental pillars that would propel Indian economy towards a Viksit Bharat.

The focus on natural farming and agricultural productivity, incentivizing job creation and employment, continued impetus to bolster MSMEs, modernizing urban cities and policies aimed at accelerating India’s energy transition will have a long-standing affect that would significantly improve economic resilience in an otherwise volatile world economy. I would also particularly commend the fresh-thinking and approach of the government in ‘Skilling’ and ‘Urban development’ both of which demanded urgent attention.
Infrastructure creation, which is a direct contributor to India’s competitiveness and positioning as a favoured investment destination, has been the hallmark of Prime Minister Modi’s governments; continued attention towards roads, ports, plug & play industrial parks, irrigation projects and affordable housing is noteworthy. Special thrust given on promoting Tourism is a welcome move which would have a great multiplier effect on local economies.
I greatly appreciate the operationalization of Anusandhan NRF and the exclusive venture-fund for Space segment. More importantly, the 1-lakh crore financing pool to bolster private sector driven research and innovation at commercial scale will have a great impact in transitioning India towards a Product’s Nation in the long-term.

While the budget allocation for Defence Industry is in expected lines, creation of the Critical Minerals Mission and articulation of India’s strategy on Small Modular Nuclear Reactors will go a long way in bolstering the AatmaNirbhar Bharat agenda.
We are all greatly inspired by the vision for a Viksit Bharat by 2047 and I am confident that these initiatives collectively signal a robust blueprint for India’s progressive, integrated and inclusive development.

Budget Reaction Quote by Gautam Hari Singhania, Chairman and Managing Director, Raymond.

OVERALL MACRO

“The investments in the nine priority sectors announced in the Budget is a testimony of Government’s commitment to the nation’s progress and would boost the country’s overall economy and business sentiments. The Government’s focus on the overall macro-economic progress of the country such as planning to bring down fiscal deficit to 4.5% of the GDP by next year, decreasing basic customs duties across industries, bringing in new tax regime and is praiseworthy and aim to promote rapid and balanced economic growth and efficient resource allocation.”

Gautam Hari Singhania, Chairman and Managing Director, Raymond Group.

REAL ESTATE

“On the measures on the real estate front, which include an increase in deduction limit for home loans, builders being given the option to pay GST at a concessional rate and the push for affordable and middle-income housing, under the PM Awas Yojana Urban 2.0 would enhance affordability for homebuyers. These would also provide an increase in momentum for housing demand, apart from encouraging developers to focus on affordable housing projects,” Gautam Hari Singhania, Chairman and Managing Director, Raymond Group.

Gautam Hari Singhania, Chairman and Managing Director, Raymond Group.

Mr Anil Agarwal, Chairman, Vedanta Ltd. on the Union Budget 2024-25.

“The focus on job creation with three innovative employment-linked schemes is timely. The abolition of angel tax will give a big boost to our startups and young entrepreneurs who are the job creators of the future. The commitment to speed up IBC resolution will lead to 12000 businesses restarting operations and many more jobs. I am also delighted to see the announcement related to Critical Minerals Mission. India must explore, mine and process these metals of the future domestically.”

Reaction Quote on Union Budget 2024

By Amazon India Spokesperson

“We welcome the Govt. of India’s announcement to set up ecommerce export hubs across the country through public-private partnerships. This, in addition to reforms proposed by the RBI for cross-border payments will play a critical role in empowering Indian MSMEs to reach global markets. Ecommerce exports represent a sunrise sector for India and we are seeing growing adoption of ecommerce exports by Indian businesses through our Amazon Global Selling program. We already have an MoU with the Ministry of Commerce (DGFT) to leverage Districts as Export Hubs initiative and boost MSME exports from India and will continue to collaborate with all stakeholders as we move closer to our goal of enabling $20 billion in cumulative ecommerce exports from India by 2025”

On behalf of the Mahindra Group budget reaction quote on behalf of Dr Anish Shah – President, FICCI.

“FICCI congratulates the Hon’ble Finance Minister for delivering a growth-oriented budget that has delivered both short term demand stimulus and actions focused on medium to long term growth imperatives, while maintaining fiscal discipline. The budget is inclusive, with a strong thrust on quality job creation and skilling. It also strikes a balance between agriculture and manufacturing, with elements of services.

“There is continuity in policy announcements. The focus on simplification and ease of doing business, boost to manufacturing, focus on research and innovation, thrust on public capex, use of technology, support to women, farmers and MSMEs, and promoting sustainability are the key themes that resonate once again in this Union Budget proposals.

Post Budget Quote by Manoj Bhat, MD & CEO, Mahindra Holidays and Resorts India Ltd

The budget is focused on fiscal prudence, stimulating investments, providing employment, and encouraging growth in the economy. The emphasis on improved connectivity and infrastructure will greatly benefit the domestic tourism sector. The spotlight on developing religious tourism, will further boost the local economy by providing investment and employment.”