Union Budget Will Pay Off In the Long Term as Per Industry Honchos

Union Budget Will Pay Off In the Long Term as Per Industry Honchos

 New Delhi, February 2022: The Union Budget for fiscal 2022-23 is undoubtedly a growth-oriented budget, and it addresses the urgent need for boosting infrastructure and urban capacity building. With its focus on inclusive development and productivity enhancement, the budget has rightly addressed the issues of the industry post-pandemic.

Moreover, the industry doyens have, meanwhile, opined that the budget would ensure more investment and infrastructure growth that will offer a progressive blueprint of the economy of India in the long run.  

Ashish Bhutani, Chief Executive Officer at Bhutani Group said, “We welcome the honourable Finance Minister’s announcement of the allocation of Rs 48000 crore for housing projects under PM Housing Scheme. In a nutshell, all these initiatives will improve demand in the real estate sector in the long run while encouraging the thrust on tier-2 and 3 cities where revamped urban planning and design has been envisaged for capacity building.”

Rizwan Sajan, Founder and Chairman, Danube Group said, “The provisions for the modernisation and up-gradation of the country’s infrastructure will fuel more demand in the real estate sector,”

Som Mandal, Managing Partner, Fox Mandal said, “The budget presented by the honourable finance minister truly represents the Atmanirbhar Bharat, and it showcases the government’s commitment towards improving ease of doing business and giving a boost to the investment. We also welcome the proposal of replacing the existing Special Economic Zones (SEZs) Act with new legislation which will resolve the long pending issues of SEZ sector.”

Kapil Jain, CEO, Nicholas Healthcare said, “Healthcare sector is expected to be encouraged by the budget with the boost provided by its significant provisions that will lead to continued investment in capacity expansion in various segments leading to an exponential growth.”

Ajay Chaudhary, Chairman and Managing Director, Ace Group reiterated, “The budget presented by the honourable finance minister enframes a much promising future for the real estate industry with the much introspected PM Housing Scheme which accrues a huge allocation of Rs 48000 crore in FY-23 for housing projects apart from single-window green clearances. This move will help the real estate sector streamline the construction of affordable homes.”

Sanjay Gupta, CMD, APL Apollo commented, “The boost in the infrastructure allocation presented by the honourable finance minister in the budget shall create a formidable positive impact on the industry creating more demand than before as the capital expenditure growth announced by the government shall be beneficial for the steel sector.”

Anshul Gupta, Director, Okaya Power Pvt Limited added, "We welcome Union Budget 2022-23 for its focus on the growth of renewable energy and especially the electric mobility through the announcement of the battery swapping policy will surely boost the EV adoption in the country. All these initiatives are in sync with the government’s endeavour to encourage the use of electric vehicles in both personal and commercial segments with the aim to realise the vision of making India a 100 per cent e-vehicle nation by 2030."

Deepan Garg, Director, Ruchira Green Earth said, “Union Budget 2022-23 has provided the much-needed boost to EV industry with the upcoming policy on battery swapping. The policy will help drive the wide-scale adoption of EV batteries while also reducing the upfront ownership cost of EVs. The government’s intention to develop special mobility zones for electric vehicles is another encouraging move for the industry. Moreover, the creation of Zero-emission zones in the cities will further help drive demand for electric vehicles and EV batteries.”

Rajendra Mehta, Director-Sales & Marketing, Glowderma, opined, “Budget 2022-23 is here to transform the healthcare sector with its allocation of Rs 64,180 crore to be spent over the next six years to improve healthcare services. We look forward to a sizeable growth in the coming months supported by this generous initiative by our honourable finance minister.”

Ajit Gupta, CMD, Ajit Industries said, “With the balanced and sensible allocation in various sectors of the economy in the current budget, the future for the packaging sector also seems very lucrative. The provisions of incentivising exports, besides exemptions provided on various items including packaging boxes, has thrown open a window of opportunities for the packaging industry.”

Hari Om, Chairman, Infallible Pharma Private Limited added, “The budget is in line with our expectations, and we are encouraged by the government’s commitment towards creating a digital health ecosystem with the aim to facilitate universal access to healthcare services. These initiatives will ultimately ensure the people receive comprehensive care and access to quality health services and medicines even in the critical care segment.”

Utkarsh Gupta, Managing Director, Ramagya Group added, “The education sector has been provided the much-needed boost in this budget with the record allocation of Rs 1.04 lakh crore in addition to various other remarkable announcements like Digital University and 200 TV channels under e-VIDYA,” concluded.”