Industry whole heartedly welcomes Budget 2022

#UnionBudget #Budget2022 #BudgetBoost #FinanceMinister

India Inc. has hailed Finance Minister Nirmala Sitharaman’s Budget 2022 by calling it growth oriented and investment focused

February 2022 : The Indian industry has welcomed Budget 2022 wholeheartedly. Pro MFG Media captures some of the remarkable industry reactions to this year’s budget here:

“I am happy to see this year’s Union Budget laying down a blue print for sustainable development in the future. We applaud the Govt. for its consistent commitment and sharp focus on the important priorities of improving climate change and accelerating energy transition.” - Mahesh Palashikar, President, GE, South Asia

“Budget 2022 is an articulation of purposeful intent enabled by a clear action plan. Building on the excellent budget of last year, the government has wisely continued on the path of prioritizing economic growth with calibrated fiscal prudence. For the Indian automobile sector, which is a significant contributor to the nation’s GDP, the budget offers continuity and also additional opportunities to drive multi-year growth.” - PB Balaji, Group CFO, Tata Motors

“The announcement for urban capacity building like mass transit, planning help, etc. would act as a good principle for development of the country. The budget has demonstrated a good balance between today’s needs and the future’s demand.” - Rajeev Sharma, Chief Strategy Officer, Mitsubishi Electric India Pvt. Ltd.

“Investments in drone manufacturing, support for space startups and design-led manufacturing in development of a strong ecosystem in India will push us towards a new era to deliver.” - Ravikiran Pothukuchi, Director, Dassault Systèmes

“The 2022 budget has a remarkable approach towards growth orientation. With a substantial focus on housing and infrastructure development, it provides a promising outlook that will provide a much needed boost to the economy.” - Shreegopal Kabra, MD & Group President, RR Global

“We wholeheartedly welcome the Union Budget 2022 and it is truly a delight for us that Energy Transition & Climate Action have been recognized as two important pillars in the budget this year establishing India's commitment to sustainable development by mitigating global warming.” - Manish Dabkara, CMD & CEO, EKI Energy Services Ltd

“Union Budget 2022 proves to be an optimistic one for mostly all the sectors. High emphasis on indigenous manufacturing is an optimistic sign for the sector. Besides this, the duty concessions towards the electronic sector will be beneficial for the longer duration and will provide further boost towards the growth of the sector.” - Aatish Hundia, Director, EVM India

“This year’s budget has taken significant future-forward steps towards financial inclusion; the integration of post office banks, widening the scope of MSME portals and setting up digital banking are all incredible steps in extending access to finance.” - Alok Mittal, Co-Founder & CEO, Indifi Technologies.

“The focus on multimodal connectivity through the PM Gati Shakti program between mass transport and railway stations, 100 New Cargo Terminals to be developed in the next 3 Years, expansion of highways and railway development projects give us more confidence to invest in the sector and build Logistic Parks.” - Anshul Singhal, Managing Director, Welspun One Logistics Parks

“With Approved Module Manufacturer List becoming applicable from April 2022, the allocation of an additional Rs. 19,500 crore under PLI scheme for solar would help create much needed manufacturing ecosystem. Overall, the budget is giving clear direction for India to meet its COP26 commitments by 2030.” - Manish Chourasia, MD, Tata Cleantech Capital Limited

“We welcome the move by the Government of India to boost logistics as a means towards ensuring economic growth. The proposal to set up a Unified Logistics Interface Platform is a welcome move. Leveraging technology to complement the development of infrastructure will help bring in better efficiency.” - Dhruvil Sanghvi, Founder & CEO, LogiNext

“Gati Shakti National Master Plan is all set to bring in developed infrastructure and improved Digitalization for National transporters. Increase in utilization of drones for Kisan/Agriculture and other sectors will again push digital platforms and SaaS companies to support the Govt’s vision.” - Sanket Sheth, Founder & MD, Elixia Tech Solutions

“Hon’ble Finance Minister has presented the growth oriented budget for next financial year 2022-23. There is a greater emphasis on capital expenditure where it is expected to be increased by 35%. In addition, the Central Government has also allocated Rs. 1 Lakh Crores for grant to states to support their capital expenditure.” - Anand Rathi, Founder & Chairman, Anand Rathi Group

“Budget 2022 is directionally good - signals policy stability, is growth oriented and strongly inclined towards a favourable investment ecosystem. Aligned to India’s overall global commitment of tackling climate change, the FM tabled finite steps demonstrating clear focus on clean energy, electric mobility, domestic capacity building and energy transition.” - Nandita Tripathi, Partner and Tax Sector Head- ENR, KPMG in India

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