NE BUSINESS BUREAU
AHMEDABAD, HAZIRA, SURAT, VADODARA, FEB 2
Union Minister Nirmala Sitharaman presented the Budget 2022-23 on Tuesday, February 1, and this year, the budget focused on digital education and skilling programmes. At her budget speech, the minister announced setting up of digital university for world class education and expansion of ‘one class one TV channel’ programme under the PM e-Vidya scheme, among major announcements. She also announced a slew of measures to improve the pandemic-induced slowdown in economy.
Here are some of the excerpts from the opinions of industrial captains from various sectors:
Visionary Budget: Dilip Oommen, President, Indian Steel Association; and CEO, AM/NS India, said, “It is a visionary budget that lays a blueprint for ‘Amrit Kaal’, supported by PM Gati Shakti Mission with multi-modal approach to boost transport & logistics. A significant increase of 35.4% in capital expenditure to Rs 7.50 lakh crore will also have a multiplier effect and provide impetus to drive growth, thus helping in steel demand creation. Increase in the domestic capital procurement budget for the Armed Forces’ equipment is yet another right step towards realising the Atmanirbhar Bharat Mission. Thrust on digital transformation and blockchain technology will support creation of a vibrant ecosystem. Focus on sustainability that emphasises on socio-economic development along with the circular economy is a positive move.”
Lauding the tax relief for the differently-abled, Shraddha Soparkar, Founder Trustee, Madhuram Charitable Trust, said, “The FM has announced tax relief to persons with disabilities by
allowing payment of annuity and lump sum amount of insurance scheme to such dependents during the lifetime of parents or guardians upon the latter turning 60. So far, payment was made only on death of the subscriber, i.e. the parent or guardian. Other than this, there is little for the differently-abled. The demand that universal health coverage under the PM Jan Arogya Yojana be extended to persons with disabilities has not been met. The demand for a uniform disability
pension is also unmet. We were expecting the government to announce an unemployment allowance for persons with disabilities, especially in view of the Covid-19 pandemic, but it has also been sidestepped.”
Impetus for higher education, says Anuj Parikh, Director Disha Consultants: “The Covid-19 pandemic has hit education as a sector hard, and education has received due attention from the finance minister. She has proposed the expansion of one class one TV channel programme from
12 to 200 TV channels to build a resilient mechanism for education delivery. The announcement to set up virtual labs and skilling e-labs will help in promoting critical thinking skills and stimulated
learning environment. The Digital University will provide access to quality universal education with a personalised learning experience in Indian languages. Allowing foreign universities and institutions in GIFT City to offer courses in financial management, fintech, science, technology, engineering and maths will facilitate the availability of high-end human resources for financial services and technology.”
Commendable Budget, Varun Sridhar, CEO, Paytm Money said, “Accelerated investments into
core sectors that have a big multiplier effect on GDP, coupled with a focus on job creation, skill development and facilitating digitally enabled financial inclusion summarises the Union Budget. Stability in the tax regime is also commendable as it makes investments predictable. The Government has also opened doors for digital currency and its different uses making the budget historic for the financial services sector.”
“The Union Budget takes a growth-oriented approach with the focus on infrastructure development, mass transport, agriculture, housing for all, urban development, and other sectors. The FM has rightly called for a paradigm change in urban planning to meet future requirements. The announcement to form a committee of reputed urban planners, urban economists, and institutions to make recommendations on urban sector policies, capacity building, planning, and implementation is a step in the right direction. The budget also takes forward the vision for housing for all with 80 lakh houses to be completed in the coming year,” said Narendra K Patel – Urban Planner, Ex-President, Institute of Town Planners India (ITPI) and CMD, Sun Builders Group
Growth and development-oriented budget, Vinod Jain, CFO , Cadila Pharmaceuticals Ltd, said, “A growth and development-oriented budget with focus on infrastructure, transport & logistic, manufacturing, education, health, and digital economy. The budget emphasizes supportive policies, regulations, and ease of doing business to build domestic capacities, promote R&D and generate employment opportunities which will ensure sustainable growth for the country in years to come. Launch of the National digital health Eco System and National Tele Mental Health Programme will go a long way to serve health care needs of society.”
Amit Saluja, Senior Director and Centre Head of NASSCOM CoE, Gandhinagar welcomes thrust on digitization: “The digitisation of manufacturing is a key enabler for Make in India and AtmaNirbhar Bharat, and the thrust on digitisation is evident in the budget. The budget focuses on efficiency improvement and growth of MSMEs, which will give a boost to MSMEs and startups working for digital technology adoption in industries. The FM has also emphasised building digital skills and accelerating deployment of solutions that can help industries become more efficient and competitive by reducing costs and improving capacity utilisation through adoption of digital tools.”
Rajiv Bhatia, President & Country Head, Analytix Business Solutions hails budget as growth-oriented: “As the Indian economy recovers from the impact of the pandemic, the budget continues to provide the impetus for growth. The budget focuses on high economic activity and covers critical segments of the economy. It emphasises on building modern infrastructure that can help in economic growth through faster movement of goods and persons. The budget also focuses on enhancing efficiency of citizen-centric services by digitising manual processes and interventions and integrating central and state level systems. The FM has made adequate provisions for affordable broadband and mobile services availability in rural and remote areas. The budget also lays the roadmap for ensuring access to e-services, communication facilities, and digital resources in rural areas. The announcement to include data centres in the harmonised list of infrastructure will facilitate credit availability for digital infrastructure. The launch of virtual labs and skilling e-labs will help in promoting critical thinking skills and stimulated learning environment.”
Banaras Hindu University Vice Chancellor Prof Sudhir K Jain hails initiatives taken for education sector: Vice Chancellor Prof. Sudhir K Jain has hailed the Union Budget presented by the Finance Minister, Government of India, Nirmala Sitharaman, as a budget focused on making a skilled, well-qualified and digitized India. Lauding the announcement of establishing a Digital University to provide access to students across the country, world-class quality universal education at their doorsteps, Prof. Jain said that the pandemic has taught us the importance of digital platforms and e-learning. In today’s digitized world, the difference between virtual and the real seems to be reducing, and hence, this is the right time to make digital university a reality.
