While the industry experts from Media, Marketing and Advertising world are reacting positive about the Budget 2021 unveiled by Finance Minister Nirmala Sitaraman. Ajay Verma, the Managing Partner and Co-Founder, Enormous Brands too welcomed Budget by terming the Budget as the one which is created with good intentions to drive the economic growth. However, he went an extra mile in pointing out that the lack of thought through implementation will back fire the way it happened in case of demonetisation and implementation of GST.
Highlighting the govt on its failures to analyse the impact of various policy changes announced, Ajay said “A budget with good intentions – But unlike earlier decisions hope its thought through. For example: Scrapping of personal vehicle in 15 years with no mention of the vintage vehicles and its fate. Or extending the start-up tax holiday, without looking at their rich and international investors/ owners. Or increasing the trade deficit but letting go scot free the International (Social) media platforms like FB and Google who are garnering huge revenues but not paying the right taxes.”
“Its important that this Govt understands, evaluates and implements it good intention in a thought-through manner. Initiatives like GST and de-monetisation had good intentions, but its poor implementation and a non-thought through approach has led us where we are today.” articulated Ajay.