MTAI President Pawan Choudhary said, the 35.4% increase in capex is a significant boost, even if we exempt some of this delta which will not be applicable. We hope that this will also benefit the healthcare sector, which needs a big boost.
Finance Minister Nirmala Sitharaman presented the budget on Tuesday (Budget 2019) Presented. The industry has praised this budget. The industry has said that this budget will help in increasing the industry and accelerating industrial development in the country. Speaking about the budget, Aditi Gupta, founder of ‘Salt India’ said that despite the severe corona epidemic, the Indian economy (Indian Economy) has made good progress. Its big advantage has gone to the e-commerce industry, which has encouraged start-up companies in the country. Make in India (Make In India) The campaign has got a boost. Aditi Gupta said that promoting this sector can help our most remote areas reach the goods from rural to urban and from urban to rural.
The number of people using mobile phones has increased. With this, e-commerce has gained an edge with technology and digitization. With this, efforts are being made to achieve an equal number of shopping windows in the most remote areas of urban India. To reach international markets in the near future, a target of $350 billion business has been set by 2030 and the work of startups in this direction is growing at the rate of 23 percent.
Demand to focus on startup
Even though the Union Budget announced a 30 per cent tax on digital income, the focus should be on encouraging startups that directly promote startups in the e-commerce domain. The Finance Minister has retained the tax incentives till the financial year 2023, so that startups can be helped. The effort is to give a momentum to the journey of digital development for India. In addition, the introduction of a central bank digital currency will give a major boost to the digital economy using blockchain and other technology, said Aditi Gupta, which the Reserve Bank of India (RBI) will introduce in 2022-23.
Benefits to MSMEs
About the budget Sameer Sathe, Executive VP of Wadhwani Advantage at Wadhwani Foundation says, “The Budget for 2022-23 has correctly identified the solution to one of the most important problems faced by SMEs and MSMEs in India – credit facilitation. Credit management, job creation, and ease of accessing financial assistance through government schemes and services will now become easier as portals for small businesses become interconnected. It also adds an organizational structure to these businesses, hence ensuring ease of doing business. The amalgamation of enterprise, e-shram, NCS and Aseem portals will act as a digital enabler and a hub-to-hub for small business owners as it is now a capsule for business registration, job recognition and skilled talent sourcing. will act as
VP Sameer Sathe said, Performance Acceleration Program is an undeniable approach for MSMEs as it will help these businesses to identify and rectify business problems to achieve higher returns and maximize profitability. The government should ensure that the right MSMEs are selected for this programme.
Many benefits from increase in capex
MTAI President Pawan Choudhary said, the 35.4% increase in capex is a significant boost, even if we exempt some of this delta which will not be applicable. We hope that this will also benefit the healthcare sector, which needs a big boost. We expect a good part of this to be spent on building healthcare infrastructure, as per the aspirations stated while setting up the national infrastructure pipeline. 73 state-of-the-art hospitals, tertiary hospitals in each district, secondary hospitals in each sub-division and primary health care and diagnostic centers at the block level will be constructed.
Pawan Choudhary said, the COVID pandemic also exposed the shortage of skilled HCWs at all levels of care. We are hopeful that we will be able to bridge the skill gap by renewing the National Skill Qualification Framework and planning to launch a digital ecosystem for skilling. While we still need to read in detail, the budget has not addressed many issues in the healthcare industry like streamlining of GST and reduction in customs duty. Withdrawal of health cess is our second demand which will help us to preserve jobs, jobs which are helpful in making health workers patient.
focus on health
Pawan Choudhary said, in a similar expression of patient interest, we have also demanded that the GST slab for medical devices be brought down from 12% to the rate of preferential products i.e. 5%. While these demands are yet to be accepted, we are happy to know that the budget reflects the realization that healthcare is an important sector and hope that these issues will be taken up by the concerned departments at the earliest. Also the focus on speed-power will boost infrastructure and increase the overall competitiveness of the industry and is therefore welcome.
Kushal Nahata, CEO and Co-Founder, Farai said, “We welcome the positive steps taken by the government to strengthen and further develop the logistics sector under the PM Gati Shakti Yojana. The Rs 20,000 crore allocated for the development of transport shows that the government is focusing on building a strong logistics infrastructure in the country. Expansion of national highway network, implementation of multimodal logistics parks and development of 100 new cargo terminals will lead to faster movement of goods, improve pan-India connectivity and reduce logistics cost. Gati Shakti Yojana’s focus on sustainable development and digitization is extremely promising. The proposed Unified Logistics Interface platform will accelerate the digitization of the logistics sector in the country. This will help reduce paperwork and aid in better logistics and supply chain management. One Station One Product Scheme of Indian Railways to provide efficient logistics services to farmers and MSMEs will ensure that local businesses overcome the existing bottlenecks in the supply chain.
emphasis on digital university
Himanshu Modi, Founder and CEO, Techno Point, said, “Startups are rapidly emerging as key drivers of job creation, technological innovation and economic growth in India. With over 61,000 startups currently in India, we look forward to more potential and innovative firms from young entrepreneurs across the country. The government’s emphasis on digital universities and skilling is interesting as it provides students and working professionals of all levels and industries alike possibilities to remain relevant in their field.”
From the education and skills perspective, Siddharth Gupta, CEO, Mercer Mettle said, “The integration of skills programs with the industry is very positive news. Refer to the National Skill Qualification Framework (NSQF). This will further improve the skill level of the youth and their ability to get jobs. We are proud of our partnership with the Government of India on Digital Literacy. The budget talks about empowering citizens with skills, skills or upskills. That too through online training. L Badri Narayanan, Executive Partner, Lakshmikumaran and Sreedharan Attorneys says about the budget, Virtual digital assets including NFTs and cryptocurrencies will be taxed at 30% on transfer of the said assets. No deduction is allowed except the cost of acquisition. Losses resulting from the transfer of virtual digital assets cannot be set off. The imposition of a tax on it has allayed concerns over the transaction of banned virtual currencies.