Wed. Jun 29th, 2022

What they think about the Union Budget 2022

Union Budget 2022

Reactions to Union Budget 2022 by Sushma Paul Berlia, Chairperson, National Council on Ease of Doing Business, ASSOCHAM

For Business and Economy:

Sushma Paul Berlia
Sushma Paul Berlia

The budget has set a long term vision for India and fiscal direction. A growth oriented budget which will on long term provide the much needed post pandemic economic stimulus and increased employment opportunities through public investment with focus on infrastructure development

The budget has been able to pinpoint in intent pain areas – lost education , mental health , logistics , transport struggling sectors and opportunities digital , defence , alternate energies , animation and gaming – touching most of the points that are engaging the minds of the people and the economy.

Extension of benefit of Section new manufacturing units, the government has extended by one year the concession of the lower tax regime. The reduction of corporate surcharge from 12 % to 7% is also welcome as is the capping of surcharge on all equities and not just quoted shares.

For Education Sector:

There has been a great emphasis in this budget on digitalization and virtual education as a tool towards filling the gap that took place due to the pandemic in the last 2 years in Schools and Higher Education, while at the same time it is giving access at different levels and a resilient education process to ensure minimum quality education is available to all – whether through skilling portals, skilling courses through ITIs, Education TV channels in Schools, E-Vidya scheme, high quality digital content and digital university.

One may add that all these are initial reactions to the budget as the devil is sometimes in the details.

Reaction to Union Budget 2022 by Jaideep Mukherji, CEO at Smart Power India

Jaideep Mukherji
Jaideep Mukherji

 

Budget 2022 has clearly laid a major focus on the green energy transition, reducing carbon footprint, and inclusive economic growth. As we move towards a greener economy, the role of Distributed Renewable Energy as a catalyst in the empowerment of MSMEs, job creation, and reforms in agriculture will be crucial. New initiatives to encourage productive use of clean energy in rural areas driven by DRE can be of great value to the rural as well as the national economy.

 

 

 

 

Reaction to Union Budget 2022 by Sonali Khan, Managing Trustee, Sesame Workshop India

Sonali Khan
Sonali Khan

 

I think it’s a great step to extend “One class One tv” to 200 channels. It will reduce the inequity in access to education for children without the internet and digital infrastructure while also making the content available to them in their local language. A National tele mental health program to support the mental wellbeing of families and revamp of 2 lakh Aanganwadi centers also holds strong relevance considering the impact the closure of schools and the pandemic has had on the lives of people. It will be good to link this back to the operationalization of NEP 2020’s compulsory education for children starting 3 years of age as part of the budget, who have been severely impacted by the pandemic in the most crucial way.

 

 

 

Reaction to Union Budget 2022 by Rajit Mehta, MD & CEO, Antara Senior Care and MD, Max India

Rajit Mehta
Rajit Mehta

 

The interests of the seniors have often taken a back seat under government allocation, but unlike past years, there has been an increased focus from the government on the changing needs of seniors this year.
Initiatives such as the National Tele-Mental Health Programme, National Digital Health Ecosystem, and an increase in NPS tax exemption of 14% from the existing 10% for State Govt. employees give a strong signal that the government is proactively looking at measures to create a conducive ecosystem for seniors. We welcome these steps towards emphasis on geriatric health and overall lifestyle for seniors.

 

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