Finance minister Nirmala Sitharaman presented her sixth consecutive budget, matching the record set by former Prime Minister Morarji Desai, just ahead of the Parliamentary elections. Find out what brand leaders and experts had to say.
Kunal Mahipal, Founder and CEO Onsitego said, “In the landscape of Budget 2024, a strategic alignment is evident with the overarching vision of propelling India into a developed nation over the next 25 years. The government’s commitment to various initiatives, including measures addressing fiscal deficit, capital expenditure, renewable energy, and infrastructure development, underscores a concerted effort toward this transformative goal. These endeavours are poised to position India as a formidable player in the global markets.
Specifically focusing on startups, the proposed one-lakh-crore corpus for a 50-year interest-free loan scheme is a crucial component of the budget. This initiative holds the potential to significantly bolster the startup ecosystem and MSME sector, acting as a catalyst for aspiring entrepreneurs to venture into new businesses. By addressing the capital constraints that often hinder growth, this forward-looking approach is expected to fuel innovation and foster economic expansion. In essence, the budget’s provisions align with a vision that not only enhances India’s global standing but also nurtures a thriving environment for entrepreneurial pursuits.
“As we reflect on the latest budget announcement, the significant allocation of Rupees 11 lakh crores towards infrastructure and the resounding encouragement of domestic and global investments underscore India’s resolute commitment to economic progress. With a strategic focus on bolstering the MSME sector, lowering duty, and fostering an environment conducive to manufacturing, India’s potential as a global economic powerhouse is resoundingly clear. Importantly, the emphasis on comprehensive development and the welfare-centric ‘Sabka Prayas’ initiative further exemplify the government’s dedication to holistic growth, ” said Abhay Deshpande, Founder and CEO, Recykal
Samriddh Dasgupta, former CMO, Heads Up For Tails said The interim budget brought a sense of optimism. Especially a sense of growth through focus on enterprise, infrastructure, travel, healthcare, medical facilities, bio-manufacturing, railways and tourism. It would have been good to see a stronger incentive towards venture capital and startups. The focus and investment on climate concerns and clean energy initiatives will pave way for innovation towards the same. I believe that the budget is a strong mix of fiscal discipline and growth ambition.