Mr. Namit Bajoria, MD, Kutchina Home Makers PVT. LTD.
Overall reaction on the budget:
“Overall, I would say it’s a good budget with very few blemishes. Lots of plans will percolate into demand. The burning issue of crypto and Digital currency also have been addressed. The budget focuses on boosting startups and new investments. The drivers for growth for India’s economy for the last few years -start-ups received the desired shot in the arm with the redemption of taxes for three consecutive years, has been extended by one more year. With this, we can expect to witness a manifold increase in successful start-ups in the coming days. The budget also focuses on better tax compliance with disincentives to evaders. However, changes in tax slabs not heeded probably because of the buoyant economic recovery drive. Overall, I would give the budget four stars, not a populous but a stable budget giving a boost to the digital economy.”
Sectorial reaction on the budget:
“We believe the recently announced budget will have a positive effect on the home appliances segment. Drinking water is important for homes. The government is focusing on piped water reaching all the villages. This is indirectly to boost our industry, considering the obvious need for water purifiers at homes. By supporting the growth of affordable housing through flexible and progressive policy and targeted subsidies means that this will create ample demand in our sector which will propel growth in our sector. The budget truly echoes India’s vision towards inclusive development and building a truly ‘ Atmanirbhar ’ futuristic technology-driven Bharat. Overall, Budget 2022 promises to provide the much-needed impetus to sustain India’s economic and digital growth.”