The Union Budget 2022 -2023 is pegging the GDP at 9.2%. Post pandemic and the recovery the Indian economy is going through have been fractured into the budget. There are many sectors that have got a fillip in this budget, be it infrastructure, technology, startups, Education and this budget looks at a growth-induced economy.
Neha Khanna, Director, ValPro: Big push on agritech in the budget with focus of using tech for crop assessment, a better spray of nutrients using drones, and digitization of land records. Agritechstartups working on inputs, better farm linkages and financing will gain from this support from the government for better adoption of products by the farmers.
Yash Gupta- Equity Research Analyst, Angel One Ltd: FY2022 GDP growth at 9.2%, better than expectations, India GDP growth for FY2022 at 9.2% on back of recovery in economy and benefit of atmanirbharbharat. – Budget 2022.
100 Cargo terminals – 100 gatishakti Cargo terminal to be developed in the next 3 years, positive for logistics sector and it will benefit a company like VRL logistics, Gati
PM housing scheme – 48,000 will be alloted for FY23 for housing project, 80 Lakhs home will be built – Very positive for Real-estate sector and company like Sobha Limited.
Can update income tax return within 2 years from the end of assessment year on paying additional tax on income missed out earlier for voluntary compliance.
Anshuman Khanna, Director, ValPro: Between the digital interface for logistics, initiatives in E-learning, use of technology for Agriculture, and Digital banking units, this budget is demonstrating the Government’s emphasis on adoption and transition to technology-based solutions and reforms.
An online system for registration of documents and deeds from anywhere in the country or the world, as announced in the Budget, would go a long way in not only streamlining registrations and transactions but also serve as a runway to bring transparency in property titles, avoid frauds and litigations.
Meeting the fiscal deficit target for FY21-22 at 6.9% versus the projected 6.8% in the eye of a shortfall in divestment target is a huge positive. Projected Fiscal deficit target for 6.4% for FY22-23 after taking into account Cap EX of 10.68 crores is a very reasonable target that balances the need to boost the economy with fiscal discipline.
The Government has again reiterated intent and announced steps to reduce dependence on crude oil and coal imports. Firm steps in this regard include thrust on Solar power, waste to energy initiatives and emphasis on EVs.
Manish Mohta, Managing Director, Learning Spiral: It is a welcome initiative by our honorable Finance Minister, the 2022 budget met some of the expectations from the education industry. The paperless format of the budget itself is encouraging digitalization and online learning which is a remarkable act. EdTech and content development will see a higher demand after the announcement of dedicated Tv channels along with that the E- registration, and E- admission step will strengthen the system and make education more easily accessible for the students. This will empower children in the tough times that the entire nation is facing due to covid-19. The last few years have been full of turmoil and challenges for the education industry. These new announcements in the 2022 budget will strengthen the education ecosystem and help India in becoming more Aatmanirbhar in the upcoming days.“
Ambarish Parekh (CXO Paycraft ) says “Considering the challenges faced by the Indian economy in this pandemic, the Ministry of Finance has put up a fine balancing act. The Union Budget 2022 has various encouraging initiatives that will propel aspiring entrepreneurs and boost small businesses.
The budget showcases a strong intent to continue driving a less-cash ecosystem considering the rapid growth in the Digital Payment sector, The Government has introduced 75 Digital banks across 75 districts to promote economical and user-friendly payment gateways.
The government’s focus on better infrastructure and technology for Rail & Metro network and seamless experience for users will not only increase the digital footprint but also the digital penetration.
Government boost to MSME with credit support will enable the Fin-tech companies to enhance their product offering and continue building robust technology for Bharat”
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”
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 and products and services exclusively for the global market”
Tapan Mishra, Founder, Seniority & Evergreen Club: “The budget is a blend between a welfare and a reformist budget. It is a delight to see the announcement of National Tele Mental Health Programme. A step forward for tackling issues less talked about. This gives me hope, that soon enough, govt will also recognise the challenges specifically faced by the older adults. Certain state govts have already supported and recognised the plight of the elders of the country. Further, with initiatives like Ease of Doing Business 2.0 with One nation One registration and PM GatiShakti, we can see the commitment of the govt to work towards the issues faced by businesses and start ups specifically.”
