27 January 2023, 18:02 PM
LIVE Updates | Indian Union Budget 2023-24 Expectations: Govt to Come Out with Some Plans to Enhance Cybersecurity for Companies
We have huge expectations from the budget, we feel the government will come out with some plans to enhance cybersecurity for companies. Although cybersecurity companies use the latest technology and tools to deal with cyber threats. However, sharing cyber threat intelligence across various institutions, law enforcement agencies, and regulatory bodies and coordinating the efforts to mitigate attacks are some of the areas that still need to be explored.
Vinet Kuumar CEO & Founder, ThoughtSol Infotech Pvt. Ltd
27 January 2023, 17:44 PM
LIVE Updates | Indian Union Budget 2023-24 Expectations: EV Industry will Stand to Gain Further From Policies That Foster Long-Term Growth in the Upcoming Union Budget 2023 – 24
India's EV ecosystem is proliferating, thanks to the government's beneficial measures and the increasing adoption of sustainable mobility by consumers. The EV industry will stand to gain further from policies that foster long-term growth in the upcoming Union Budget 2023 – 24. These include a uniform 5% GST rate on all components of EV to avoid an inverted duty structure, which blocks funds in working capital for the EV companies. The benefits of the production-linked incentive scheme must be expanded to suit fuel-agnostic policies as well. The EV industry saw momentum in 2022, reaching one million unit sales in the last year, as per VAHAN data. It is essential that EV adoption continues to grow with continued subsidy allocation for OEMs, till the market reaches an EV penetration of 8-10%.
Nagesh Basavanhalli, Executive Vice-Chairman, Greaves Cotton Limited
27 January 2023, 16:48 PM
LIVE Updates | Indian Union Budget 2023-24 Expectations: Govt to Include Parity in Treatment Between Mutual Funds and Unit Linked Insurance Plans
The Union Budget 2023-24, to be presented by the Finance Minister Nirmala Sitharaman on February 1, 2023, is expected to have several changes in the personal finance front. Expectations include parity in treatment between mutual funds and unit linked insurance plans (ULIPs), enhancement of upper limit for Public provident funds (PPF) to Rs 3 lakhs, rationalization of tax provisions and more exemptions under Section 80C. The budget is also expected to reintroduce Section 54E and 54F for reinvesting capital gains in mutual funds. However, the budget is expected to be a tightrope walk due to macro stress, nine state elections in 2023 and central elections in 2024 and limited room for maneuver due to higher capex outlays and fiscal deficit at 6.4 percent of GDP.
Nehal Mota, Co-Founder & CEO - Finnovate
27 January 2023, 16:04 PM
LIVE Updates | Indian Union Budget 2023-24 Expectations: Current Direct Tax Arrangements at the Very Least Maintained Without Worsening the State of the Public Finances
There may be electoral pressures on the administration to provide a populist budget when the budget, which in this case is the year before the election, approaches. In this regard, the wealth technology community would be extremely pleased if the current Direct Tax arrangements were at the very least maintained without worsening the state of the public finances.
Vivek Banka, Founding Team, GoalTeller
26 January 2023, 20:42 PM
LIVE Updates | Indian Union Budget 2023-24 Expectations: Investments in Cost-Intensive Research Through Grants and Incentives
The 2023-24 budget should direct its attention toward preventive healthcare. Furthermore, the government needs to encourage investments in cost-intensive research through grants and incentives. The budget must also prioritize domestic API manufacturers by offering incentives as well as reducing GST and import duty on APIs: Sanjeev Jain, Managing Director, Akums Drugs & Pharmaceuticals.
26 January 2023, 20:30 PM
LIVE Updates | Indian Union Budget 2023-24 Expectations: Tax Deductions
Stakeholders at both ends of the spectrum will benefit from the landmark decisions that are anticipated. There is an undertone desire among industry players for tax deductions: Manik Anand, CEO at White Knights Realty
26 January 2023, 20:23 PM
LIVE Updates | Indian Union Budget 2023-24 Expectations: Incentivization to drive the enablement of this workforce
“The gig economy is one of the fastest growing segments in the country – whether it is in white-collar, grey-collar, or blue-collar jobs. This time from the Union Budget, our expectation is to see the government play into the potential of this segment by partnering with the industry on its growth. As a gamification company, we believe in incentivization and positive ways to drive the enablement of this workforce: Kamalika Bhattacharya, CEO, and Co-founder, QuoDeck.
26 January 2023, 20:00 PM
LIVE Updates | Indian Union Budget 2023-24 Expectations: Tax exemption
"The upcoming budget will undoubtedly be geared towards augmenting the growth of the Indian economy, but it also needs to address the challenges faced by the common man and the salaried class as we recover from a global pandemic and tackle the ongoing global economic slowdown- Bipin Preet Singh, Co-Founder & CEO of the MobiKwik."
26 January 2023, 19:58 PM
LIVE Updates | Indian Union Budget 2023-24 Expectations: Reductions in GST
The government has encouraged the use of charging stations by setting the GST at 5% on the sale of charging stations, but the GST rate is 18% when using the infrastructure. Given that many people utilize these charging stations and do not qualify for an input tax credit, the government must reduce this GST to 0%, just like it does with the sale of energy: Amit Gupta, Head- Energy Infrastructure Solutions, Delta Electronics India.
26 January 2023, 18:06 PM
LIVE Updates | Indian Union Budget 2023-24 Expectations: Increasing FAME-II subsidy
The government has been supportive of the EV industries with the constant policy push in the last few years. As the ambit of EVs expands, we hope that the upcoming Union Budget considers increasing the FAME-II subsidy for the e-auto (L5M) segment to Rs. 15000 per kWh or 40% of the ex-showroom cost, whichever is lower in line with EV two-wheelers. This will lead to improving affordability and accelerate EV adoption further in the country- Hyder Khan, CEO Godawari Electric Motor
26 January 2023, 17:30 PM
LIVE Updates | Indian Union Budget 2023-24 Expectations: Self-Reliance in Energy Security
The Prime Minister has rightly acknowledged that India needs to develop self-reliance in energy security, and called for a #MakeinIndia circular economy. A circular economy of battery raw materials will boost India’s energy security and uplift domestic manufacturing. Government support can greatly accelerate this shift and magnify its rewards, which we hope to see in the budget this year: Rajat Verma, CEO & Founder, Lohum Cleantech.
26 January 2023, 17:00 PM
LIVE Updates | Indian Union Budget 2023-24 Expectations: Clarity in Provisions and Related Benefits
Streamline the PLI scheme, thus bringing clarity to the provisions and related benefits. FAME II scheme to be defined with more clarity and inclusive to ensure innovation in product development and enhance EV adoption: Ketan Mehta, Founder & CEO, HOP Electric Mobility.
26 January 2023, 16:39 PM
LIVE Updates | Indian Union Budget 2023-24 Expectations: Stable and Predictable Tax Regime
Ensuring a stable and predictable tax regime would help attract private investments, both domestic and foreign, in the healthcare sector.
26 January 2023, 15:04 PM
LIVE Updates | Indian Union Budget 2023-24 Expectations: Rationalisation of GST
The rationalization of GST for the sector is long pending. It is expected that the government would intervene this time to this pain point of the healthcare industry.
26 January 2023, 15:57 PM
LIVE Updates | Indian Union Budget 2023-24 Expectations: Govt Should Consider Reducing the Percentage of Long-Term Capital Gains From 20% to 10%
National Digital Health Mission should be implemented fully and health startups should be given tax sops. To attract domestic investments into start-ups, the government should consider reducing the percentage of Long-Term capital gains from 20% to 10% and abolish the surcharge on investments made into start-ups by Investment vehicles.
Dr. Aashish Chaudhry, Managing Director, Aakash Healthcare
26 January 2023, 15:36 PM
LIVE Updates | Indian Union Budget 2023-24 Expectations: Medical Technology Needs Special Attention in Terms of Promoting Indigenous Equipment to Global Standards and Rationalization of Import Duties
Indian Hospitals maintain global competitiveness and are known for their best-in-class treatment and care. Medical Technology plays an important role in meeting global standards, hence this segment needs special attention in terms of promoting indigenous equipment to global standards and rationalization of import duties.
Dr. Aashish Chaudhry, Managing Director, Aakash Healthcare
26 January 2023, 15:13 PM
LIVE Updates | Indian Union Budget 2023-24 Expectations: Government is Expected to Incentivize this Employment-Intensive Sector
Healthcare Sector provides huge employment and to further boost employment and sustainability, the government is expected to incentivize this employment-intensive sector.
Dr. Aashish Chaudhry, Managing Director, Aakash Healthcare
26 January 2023, 14:04 PM
LIVE Updates | Indian Union Budget 2023-24 Expectations: Govt Needs to Revisit PPP in Healthcare With Focused Reforms and Incentives
Public Private Partnerships (PPP) in healthcare have not been giving desired results as compared to Infrastructure and Other sectors. The government needs to revisit it with focused reforms and incentives.
Dr. Aashish Chaudhry, Managing Director, Aakash Healthcare
26 January 2023, 14:53 PM
LIVE Updates | Indian Union Budget 2023-24 Expectations: Single Window System for Hospital Projects
In addition, there are procedural complexities and a large number of compliances/permissions are required for the implementation of projects resulting in time and cost overruns. To address this, hospital projects should be allowed to go through a Single Window System. This is expected to streamline project execution.
26 January 2023, 14:33 PM
LIVE Updates | Indian Union Budget 2023-24 Expectations: Tax rates
Given the high cost of doing health business, the effective rate of tax is still high once all the levies imposed by the Central, State, and local governments are accounted for. This should be addressed in the forthcoming Budget
26 January 2023, 14:31 PM
LIVE Updates | Indian Union Budget 2023-24 Expectations: Sustainability of Hospital Sector in Tier II and III towns
Union Budget should create an Enabling Healthcare Ecosystem with a special focus on the sustainability of the Hospital Sector in Tier II and III towns and rural India
26 January 2023, 13:44 PM
LIVE Updates | Indian Union Budget 2023-24 Expectations: Govt to Make a Stable and Predictable Tax Regime for Attracting Private Investment
Ensuring a stable and predictable tax regime would help attract private investments, both domestic and foreign, in the healthcare sector.
Dr. Aashish Chaudhry, Managing Director, Aakash Healthcare
26 January 2023, 13:29 PM
LIVE Updates | Indian Union Budget 2023-24 Expectations: Govt Should also Create a Liquidity Support System for NBFCs and Broaden the Guarantee Scheme Under CGTMSE
The Government should also create a liquidity support system for NBFCs and broaden the guarantee scheme under CGTMSE, which in turn, will go a long way in ensuring a transparent and seamless flow of credit to MSMEs. Access to formal credit is one of the biggest challenges that MSMEs in the country is facing. Only 16% of MSMEs get access to loans from banks, while the rest has to rely on informal sources. MSMEs currently need around ₹25.8 lakh crore formal credit.
Rakesh Kaul, Executive Director & CEO – Clix Capital
26 January 2023, 13:16 PM
LIVE Updates | Indian Union Budget 2023-24 Expectations: Vision of Long-Term Transition will Embedded in the Budget to Send Strong Signal to Private Sector for Technology Adoption
The Union Budget 2023-24 will be the first to be presented since India announced the Long-Term Low Emission Development Strategies (LT-LEDS) to achieve the net zero emission goals by 2070. “It is imperative that the vision of long-term transition is embedded in the annual budgets, as the fiscal policy not only alters incentive structure for consumer and producer choices, but it also sends a strong signal to the private sector for technology adoption.
Vibha Dhawan, Director General, TERI
26 January 2023, 13:10 PM
LIVE Updates | Indian Union Budget 2023-24 Expectations: Health Sector will Benefit from Streamlining the Regulatory Mechanism, Separate Funds for R&D, and Increasing the Uptake of ABDM
With over 4,000 startups registered in the healthcare space, the budget will be keenly watched for its commitment to the healthcare sector. Investment in doctor, nursing and paramedical quality education and upgradation of courses will be essential considering the technological advancements in the sector. In addition, streamlining the regulatory mechanism, separate funds for R&D, and increasing the uptake of ABDM (Ayushman Bharat Digital Mission) will benefit the sector at large.
Harsimarbir Singh, Co-founder at Pristyn Care
26 January 2023, 12:52 PM
LIVE Updates | Indian Union Budget 2023-24 Expectations: Govt to Encourage the Production of Medical Devices within India as Part of Our Aatmanirbhar Bharat Initiative
With a major chunk of medical devices in the market being imported, and custom duties and taxes being very high on those, encouraging the production of medical devices within India as part of our Aatmanirbhar Bharat initiative would help drive innovation and affordability.
Gautam Chopra, Co-Founder and CEO, BeatO
26 January 2023, 12:28 PM
LIVE Updates | Indian Union Budget 2023-24 Expectations: Budget Should Keep in Mind the Changing Needs of the New-Age Indian Business Models
Fintechs have sought exemption in GST till a certain limit of their revenue for long. GST for debt collections service comes under reverse charge and hence there is a huge disincentive for the industry, especially for new-age startups which are leveraging technology for collections. The expectation from the budget would be to keep in mind the changing needs of the new-age Indian business models.
Sumeet Srivastava, Co-Founder & CEO spocto
26 January 2023, 12:00 PM
LIVE Updates | Indian Union Budget 2023-24 Expectations: ESOPs Should be Considered Long-Term Capital Gain for Tax Purpose and Incentivize and Increase Retail Investments
"Since it is a budget wish list, I would like to limit my wishes to two very important demands on taxation. One, considering the holding period, ESOPs should be considered long-term capital gains (LTCG) for tax purposes and should only be taxed at the time of sale rather than at the time of exercise. Two, to incentivize and increase retail investments into early-stage startups, a) Tax credit upto to Rs 5 Lakhs from personal taxable income for any investment loss in recognized startups b) Deferring of capital gains in case it is reinvested again in startups or any SEBI recognized funds."
Dr. Ganesh Nikam, Managing Director and CEO of Biojobz- An Industry leader in "Executive Search" & recruitment for the Biotech & Pharmaceutical industry
26 January 2023, 12:00 PM
LIVE Updates | Indian Union Budget 2023-24 Expectations: ESOPs Should be Considered Long-Term Capital Gain for Tax Purpose and Incentivize and Increase Retail Investments
"Since it is a budget wish list, I would like to limit my wishes to two very important demands on taxation. One, considering the holding period, ESOPs should be considered long-term capital gains (LTCG) for tax purposes and should only be taxed at the time of sale rather than at the time of exercise. Two, to incentivize and increase retail investments into early-stage startups, a) Tax credit upto to Rs 5 Lakhs from personal taxable income for any investment loss in recognized startups b) Deferring of capital gains in case it is reinvested again in startups or any SEBI recognized funds."
Dr. Ganesh Nikam, Managing Director and CEO of Biojobz- An Industry leader in "Executive Search" & recruitment for the Biotech & Pharmaceutical industry
26 January 2023, 11:54 AM
LIVE Updates | Indian Union Budget 2023-24 Expectations: Incentivising Commercial Premises Fulfilling and Excelling in ESG Goals
Incentivising commercial premises fulfilling and excelling in ESG goals, would go a long way in encouraging developers and property owners build more inclusive, sustainable and smart work places to cater to the changing work dynamics while taking this industry a step closer to being carbon neutral.
Sudarshan Lodha, Cofounder & CEO, Strata
26 January 2023, 11:36 AM
LIVE Updates | Indian Union Budget 2023-24 Expectations: Govt led Consumption Thrust Would Drive the Economy Much Faster, Especially for FMCG Space
Given that India is a domestic demand-driven economy, focusing on consumer spending predominantly will tick a lot more boxes for the government than other vectors. As consumers trade down due to rising inflation, a consumption-led thrust by the government would drive the economy much faster, especially for the FMCG space. This could include creating jobs, raising the bar for personal taxation (increasing tax slabs), simplifying the GST rates for mass consumption categories, and promoting exports. Focus on agriculture and promoting the produce would accelerate the effort as it is. The Millet year is a great initiative in that direction, but would need more effort, and cohesion with local governments and percolate to enable it to percolate to the farmers.
Mr.Puru Gupta Co-Founder & CEO of True Elements
26 January 2023, 11:34 AM
LIVE Updates | Indian Union Budget 2023-24 Expectations: Govt to Accelerate the same by Allocating Budget to Ramp Up EV Architecture
"The Indian government has launched policies and measures to incentivise the EV industry, but the same can only be leveraged when a parallel charging infrastructure is developed. While we are encouraging people to opt for EVs through subsidies and incentivization, in the end, only a hassle-free experience can sustain the trust of the consumers. We expect the government to accelerate the same by allocating budgets to ramp up EV architecture that is competent, connected, and sustainable. Moreover, there is an immediate requirement to spread awareness about the auto scrappage policy in order to spur the phasing out of end-of-life vehicles, which can assist steer EV purchases even further."
Mr Muzammil Riyaz, Founder, EVeium Smart Mobility
26 January 2023, 10:38 AM
LIVE Updates | Indian Union Budget 2023-24 Expectations: It Would be a Welcome Step if the Upcoming Union Budget can Make Provisions for Policy Assistance and On-Demand Credit Lines through Banks for Startups Focused on the Healthcare Segment
The Union Budget 2023-24 can be a game-changer for the Indian Healthcare Sector. Technology or digital health has already proved its mettle during the pandemic. Be it efficient management of COVID-19 and vaccination or achieving the goal of Universal Health Coverage, startups in the healthcare sector would be great enablers with the provisions of policy assistance. Given the acute need to further the penetration of quality healthcare, it would be a welcome step if the upcoming union budget can make provisions for policy assistance and on-demand credit lines through banks for startups focused on the healthcare segment. Furthermore, healthcare startups would be expecting a lower tax slab on their products, services, and solutions and this much-needed fiscal or tax incentive would help in creating a robust digital health ecosystem in the country.
Healthcare Startups expect Seamless Credit Facilities and a lower tax slab: Jitin Bhasin, Founder and CEO, SaveIN
25 January 2023, 20:44 PM
LIVE Updates | Indian Union Budget 2023-24 Expectations: A Single-Window Policy for all Registrations such as Incorporation, Pan, GST, MSME Certificate, and so on will Help Save Time, Effort, and Money
"While the Union Budget 2023 will primarily focus on promoting comprehensive holistic growth across the nation, but it would be great if women’s health and wellness, particularly menstrual hygiene, are kept on high priority. For India to spring up from its menstrual waste problem, we eagerly await policies from the government that fosters the marketing and sale of organic biodegradable menstrual products. This small step has the potential to reduce the tons of commercial plastic sanitary napkins that end up creating mountains of landfills. Although the emphasis should be 'Make in India', lowering import taxes on raw materials could assist address the initial bottlenecks and motivate more female-led businesses to start contributing towards a greener India.
In terms of financing, the seed fund scheme is a great initiative, however, it needs to be more transparent and structured so that startups can easily navigate it. A central database of all possible schemes through which startups can access funding must be established. It will also be beneficial to have a counsellor or guide accompany the startup to the appropriate incubator. Moreover, a single-window policy for all registrations such as incorporation, Pan, GST, MSME certificate, and so on will help save time, effort, and money."
Ms. Sujata Pawar, Co-Founder & CEO at Avni- A Feminine Hygiene and Menstrual Healthcare Startup
25 January 2023, 20:39 PM
LIVE Updates | Indian Union Budget 2023-24 Expectations: Govt Should Recognize Relieving Angel Tax Constraints in Budget 2023, as Startups are Frequently in the Early Stages of their Growth
"Despite pandemic-induced inflation, the nation witnessed flourishing entrepreneurial ventures as a consequence of early-stage acceleration and venture capital, as well as a push from the gig economic model to initiate and prepare businesses for the future of work. Given the prospects that the Indian startup ecosystem holds for global investors, this year’s Budget will be worth watching out for. While this is a promising indicator, the urgent priority of the hour is to devise a policy that further encourages a sturdy startup ecosystem through easier loan disbursements, e-approvals, and more government-led incentives in India’s tier-I and tier-II cities. Although the Fund of Funds for Startups (FFS) has played an integral role in mobilizing domestic capital in the Indian startup ecosystem, government interference should occur directly in this respect to ramp up the startup perks being offered, particularly for early-stage startups. Moreover, the government should also recognize relieving angel tax constraints in Budget 2023, as startups are frequently in the early stages of their growth and may not generate the same level of income or revenues as established businesses. Taxing the funds startups secure from investors may demotivate them from advancing creative solutions and developing new technologies."
Mr. Vidyarthi Baddireddy, CEO and Co-founder at PickMyWork
25 January 2023, 20:29 PM
LIVE Updates | Indian Union Budget 2023-24 Expectations: Govt to Allow Nationalized Banks to Use Accumulated GST Credit
The startup funding in India was around $2 billion, which was the lowest in the previous two fiscal years, which means investors are getting highly selective and are keen to making deals which have investment profitability and growth. Also, it is anticipated that the government may allow nationalized banks to use accumulated GST credit as leverage that, when happens, is obliged to benefit SMEs and startups.
Punit Agarwal, Founder KoinX
25 January 2023, 19:44 PM
LIVE Updates | Indian Union Budget 2023-24 Expectations: Real Sector Anticipates Bold, Growth-Oriented Budget with Good Announcements
The real estate sector is looking forward to the 2023-24 Union Budget in order to maintain the growth momentum that began last year. The primary goal of this budget must be to achieve GDP growth of 6.5-7 percent in a year when many global economies may experience a recession. We anticipate a bold, growth-oriented budget, with announcements that will encourage capital investment and FDI inflows into India.
Surendra Hiranandani, Chairman and Managing Director, House of Hiranandani
25 January 2023, 19:16 PM
LIVE Updates | Indian Union Budget 2023-24 Expectations: Govt Should Increase GST Exemption Slab for More Working Capital in Hand on day-to-day Basis
There should be an increase in the GST exemption slab which will enable us to have more working capital in hand on a day-to-day basis & help in financial enablement. The government could announce steps to reduce tax litigation and concession on indirect taxes levied on businesses run by women entrepreneurs.
Puja Srivastava, Co-Founder and CTO at Spocto
25 January 2023, 19:05 PM
LIVE Updates | Indian Union Budget 2023-24 Expectations: Budget Must Roll-Out National Action Plan for Climate Change
The budget is expected to include recommendations from climate-change industry experts at the conceptualisation and implementation stages of infrastructure development. The budget must roll-out a national action plan, establishing a specialised institution to finance climate change mitigation and adaptation. A fiscal inducement for using sustainable construction techniques or making such practices mandatory in all government projects can be a good step to start with. Furthermore, an increased focus on PPP-based infrastructure projects, would improve the availability of long-term funding from financial institutions.
Vikramjiet Roy, Managing Director, Maccaferri (India)
25 January 2023, 18:53 PM
LIVE Updates | Indian Union Budget 2023-24 Expectations: India Requires to Adopt Green Buildings, Built to Internationally Recognised Standards That not just Reduces Energy and Water Consumption
India requires to adopt green buildings, built to internationally recognised standards that not just reduces energy and water consumption but also cuts down emissions. Sectors like Real estate, railways, and airlines can benefit immensely from use of prefabricated materials for infrastructure development as that will lead to faster execution of projects.
Nikhil Bothra, Director, EPACK PREFAB
25 January 2023, 18:32 PM
LIVE Updates | Indian Union Budget 2023-24 Expectations: A Relief From Rising Inflation and Protection Against the Incoming Recession for the Common man
The Budget 2023 is highly anticipated as it should be a relief from rising inflation and protection against the incoming recession for the common man. Within the Web3 sector as well, we hope to see ease of taxation reforms to ensure uninhibited growth of the sector and policies that solidify the regulatory structure of the Indian Web3 ecosystem.
Kaavya Prasad, Founder, Lumos Labs, a developer centric metaverse
25 January 2023, 17:58 PM
LIVE Updates | Indian Union Budget 2023-24 Expectations: Treatment of Digital Asset Trading Losses as a Non-Deductible Tax Event has to Change
Budget of 2023 can help accelerate mainstream adoption of web3 by clarifying the definition of digital assets and their tax treatment. Additionally, today all digital assets (including ones with real world utility) are still met with a step-motherly treatment when compared to other assets. The treatment of digital asset trading losses as a non-deductible tax event has to change.
Anantha Krishnan, Founder, MOI
25 January 2023, 17:38 PM
LIVE Updates | Indian Union Budget 2023-24 Expectations: A Consumption-led Thrust by the Government Would Drive the Economy Much Faster
Given that India is a domestic demand-driven economy, focusing on consumer spending predominantly will tick a lot more boxes for the government than other vectors. As consumers trade down due to rising inflation, a consumption-led thrust by the government would drive the economy much faster, especially for the FMCG space.
Puru Gupta Co-Founder & CEO of True Elements
25 January 2023, 17:17 PM
LIVE Updates | Indian Union Budget 2023-24 Expectations: Budget 2023 is Expected to Deliver Much Assistance to EdTech Companies in the Form of Ease of Doing Business and Faster Document Approval
Budget 2023 is expected to deliver much assistance to EdTech companies in the form of ease of doing business and faster document approval, as well as incentive policies to support innovation and job creation.
Aashay Mishra, Co-founder & COO of PrepInsta
25 January 2023, 17:12 PM
LIVE Updates | Indian Union Budget 2023-24 Expectations: FM to Allocate Greater Overall Budget Towards AI and Technology for Future Ready Solutions
We anticipate finance minister will allocate a greater overall budget towards AI and Technology for future ready solutions, which can include face-recognition based entry and ticket systems, ANPR plus GPS based tolls or turnstile activation, body posture estimation systems that can help in providing assistance to those in need or for general body-related analysis, automated highway management and much more.
Shreeram Iyer, Chairman and Group Chief Executive Officer, Prisma Ai
25 January 2023, 17:06 PM
LIVE Updates | Indian Union Budget 2023-24 Expectations: Govt to Present Growth-Focused Spending Plan; Gives Impetus on Investments in Infrastructure Development
We believe the government will present a growth-focused spending plan, maintaining the impetus on investments in infrastructure development. We, therefore, see the road, railway, and urban infrastructure sectors to see meaningful allocation as the significant beneficiaries of the budget. In addition, we expect healthcare, education, and rural housing to be the other major sectors likely to benefit from increased allocation of funds. India has recently made aggressive plans to achieve a sizable contribution from renewable power sources such as solar and wind.
Avinash G Singh, Senior Vice President, Aranca, Investment research
25 January 2023, 16:53 PM
LIVE Updates | Indian Union Budget 2023-24 Expectations: Govt to Support in Terms of Access to Finance, Insurance, and Regularized Import Policy for Critical Components
In the upcoming budget the industry needs support in terms of access to finance, insurance and a regularized import policy for critical components such as Batteries, Engines, Flight Control Electronics, Motors and Engines, which are still not available under Make in India. Standardised import policy for drone components will allow for faster technological adoption and Indianization of Drone components.
Arjun Naik, Founder & CEO, ScanDron
25 January 2023, 16:37 PM
LIVE Updates | Indian Union Budget 2023-24 Expectations: More Offline Digital Payments Product such as UPI 123 and UPI Lite
The upcoming Union Budget holds high importance, as the Indian fintech ecosystem is at the cusp of expansion, both within the country and internationally. More offline digital payments products, such as UPI 123 and UPI Lite, should be introduced to aid digital penetration in semi-urban and rural regions of India. Offline digital products offer tremendous relief to consumers in these areas who face traditional barriers to entry, such as lack of reliable infrastructure and slower devices.
Akash Sinha, Co-founder & CEO, Cashfree Payments
25 January 2023, 16:24 PM
LIVE Updates | Indian Union Budget 2023-24 Expectations: Govt Should Grant Entrepreneurs Three Years of 100% Tax Deductions
The government should grant entrepreneurs three years of 100% tax deductions. More funding for drone pilots' training and skill-building program should be allocated in the upcoming budget, along with increased government support. The budget for the Production-Linked Incentives (PLI) programme for manufacturers should also be increased.
Ankit Kumar, CEO, Skye Air
25 January 2023, 15:55 PM
LIVE Updates | Indian Union Budget 2023-24 Expectations: Govt to Provide Financial Incentive to Boost Innovation and Encourage Entreprenuers to Adopt Risk Orchestration Solutions
Regulatory and policy reforms such as the enactment of the Data Protection Bill and setting up a solid and effective data protection authority will ensure a conducive environment for the sector to thrive. We also expect the budget to provide financial incentives to boost innovation and encourage entrepreneurs to adopt risk orchestration solutions to tackle problems such as fraud prevention, data security, KYC compliance, and identity theft. We hope that the government will provide additional funding, incentives, and tax exemptions to incentivise companies to build a robust data security infrastructure that will fuel the government’s ‘digital India’ vision. With Budget 2023, the cyber security industry may finally get the boost it needs to keep up with the ever-evolving digital landscape.
Preekshit Gupta, Vice President - APAC & MEA, Bureau
