Anupriya Acharya, South Asia CEO, Publicis Groupe  & President, AAAI

Well going by all views and surveys shared on expectations from the Budget, one was expecting mostly cautious incrementalism, but it is really a great Budget. Budget 2021 is very pro-development, pro-transportation. With the vision of Aatmanirbhar Bharat it has focus on good governance and women empowerment. And combined with the enhanced spending on the health sector, should not only help in economic recovery but also driving strong growth agenda. Such an increase in Capital expenditure even after the economic crisis due to the pandemic, despite the contraction in economy, bleak global outlook etc must definitely be appreciated. 

Other areas that are much appreciated is an effort to boost India’s automobile sector.  The Union government’s decision to introduce a voluntary vehicle scrappage policy and a scheme to augment public transport system will really help the auto sector, which has been witnessing a sharp slowdown in sales since 2019.

Also the government’s facilitation in setting up ‘world-class’ fintech hub – it will help bring together new technologies like big data, AI and blockchain to transform the way that financial services are delivered, making them cheaper, more efficient, more convenient and more inclusive.

Multiple measures to incentivize Startups like 100 per cent tax exemption for 3 years, amendment of Companies Act to allow new start-ups to register in one day, Allowing NRIs to invest through OPC (One Person Company) etc to open up opportunities in the area of health, hygiene, water, clean air, sanitation, etc. is also a great move.

I think all in all it’s a very positive, growth oriented budget and it is also heartening to see that there is no increase in taxation, which a lot of people were worried about as seen in the surveys and coverage on expectations from budget.

Yes there is no material allocation made to the entertainment industry that was severely affected by the pandemic and lockdowns –  with theatres shut down and an halt on productions of films and TV but from an overall advertising and marketing perspective a budget that drives growth and hence puts money in the hand of end consumer, will also benefit media and entertainment. So hoping for the best. Now all eyes are on execution which is as critical for success, as the plan.