New Delhi, Feb 1 (UNI) Industry leaders on Monday hailed the budget presented by Union Finance Minister Nirmala Sitharaman, saying that it will boost the startup ecosystem in India.
Express Stores CEO and Co-Founder Apoorv Jain said the budget gave major emphasis to healthcare and infra sectors.
'Besides, a host of substantial announcements were made on the divestment front, including the coming IPO of Life Insurance Corporation. Incentivisation to one person company by removing capital limits, free conversions and overhauling residency limits will definitely boost the startup ecosystem in India,' he added.
'We welcome the move to help India's startups beat pandemic blues, the tax holiday extended by one more year to March 2022 during Budget presentations today. The capital gains exemption given to startups was also extended by a year more," said Mr Jain.
SIRO Clinpharm Director Akshay Daftary said that in this year's budget, the Finance Minister considered Health and well-being sector as the first pillar, which was very encouraging for the healthcare and nutraceuticals sector professionals.
'The announcements made by the FM, especially for the healthcare sector in terms of promised reforms and anticipated conducive measures to boost domestic manufacturing of the medical devices along with the emphasis on preventive care, PPP in Ayushman Bharat and expansion of Jan Aushadhi Kendra in all districts to provide medicines at affordable rates, are very promising and will provide impetus to the growth of the sector in the long run,' said Mr Daftary.
He added that the allotment of Rs 3000 crore funds under skill development is a positive move by the government in terms of recruiting people since the Emergency Medical Services (EMS) industry demands skilled individuals in paramedics as they are the ones driving the sector and hence, play a vital role in saving lives.
The allocation of Rs 35,000 crore for COVID-19 vaccines was much needed as it is the need of the hour. Additionally, the allocation of Rs 69,000 crore to healthcare is again something that is commendable and a heartening measure announced by the FM for the development of the healthcare sector.
Mr Daftary concluded by saying that the Budget is realistic, positive, and holistic at the same time, centered around the common man and his needs.
Luxury Ride Co-Founder and Managing Director Sumit Garg, too extoled the "Bahikhata".
Welcoming the move announced by the Finance Minister on voluntary scrappage policy, which will reduce vehicle pollution and promote a healthier environment, he said that as passenger vehicles are major pollution contributor, they have to undergo a fitness test after every 15 years and personal vehicles for 20 years.
Government to incentivize incorporation of one person companies is a boost for the startup ecosystem. "I also welcome the move on exemption of income tax filing returns for the senior citizens of our country," he added.
UNI JAL RJ 2200