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  • Budget Reaction Quotes- Startups- Healthcare, Infrastructure, Education (Education investment advisory app) and Jewellery Sector

    Published on February 3, 2021

    Healthcare Industry-
    Shabnum Khan, Founder, 750ad Healthcare Pvt. Ltd.-

    “After dealing with a pandemic for over a year now, it was evident that the budget for healthcare needed to be expanded. We have experienced the need for better healthcare in the country and hence the setting up of 17,000 rural and 11,000 urban health and wellness centers is a great step. But, when we look at the figures, the allocation of healthcare budget, is a very slight increase of 5.7% to Rs. 67,484 crores as compared to the last year’s Rs 63,830 crores. This is lesser than the target spending of 2.5% of GDP on healthcare. Another major need of the hour was to dedicate budgets towards data protection to set up an infrastructure in order to safeguard all the online data saved in the healthcare sector. On the positive side, the PM Atma Nirbhar Swasthya Bharat Yojana to develop primary, secondary and tertiary healthcare systems is a promising step towards developing a better healthcare infrastructure in the country.”

    About 750ad Healthcare:

    750 AD has the vision to promote and sustain good health with a view to ensure high state of well-being amongst citizens. It is a revolutionary platform that amalgamates various aspects of healthcare on one single platform. The brand’s website is a go-to source for healthcare decision-makers and is a market aggregator that aims at boosting the businesses of chemists and other healthcare businesses across the country.

    Construction/Infrastructure Industry-

    Subhal Garg, Director- Finance & Strategy, E5 Infrastructure Pvt. Ltd.

    “Budget 2021 had set a tone for the next decade, mission of 5 TN economy looks achievable. Infra spending whether in Roads & Highways, Railways, Metros, power, affordable housing etc. will have multiplier effect in the economy and will boost demand for the products of heavy industries like steel, cement, transportation and will generate employment. 

    To meet the funding requirements of the sector, FM had announced to set up Development Financial Institution with an initial capital of INR 20,000 Cr with an aim to create a portfolio of 5 lacs crore.  REIT & Invit will be a sustainable solution to unlock the value of annuity yielding assets, it will also provide alternate to investors who are relying on interest income. Setting up a “National Monetization Pipeline” for brown field projects is a welcome step. Allowing issuance of Zero-Coupon Bond by IDF and tax benefits will further boost up liquidity in infrastructure space.

    To promote transparency and reduce tax litigation Hon’ble FM had announced series of reforms which includes reduction of time limit for reopening of assessment in income tax act from 6 years to 3 years, setting up of dispute resolution committee and faceless ITAT.”

    About- E5 Infrastructure

    E5 Infrastructure laid its foundation in 2015 with the key objective of transforming the infrastructure space in India and its adjoining countries. The company was conceived on 5fundamentalprinciples for building a strong Brand, i.e.,Ethical, Entropic, Empowering, Environment and Entrepreneur. Hence, the name- E5 Infrastructure, which resonates with a brand that aims at improving the latest technology in the construction industry along with formulating new strategies to reduce construction time, cost and its impact on environment through research and development.

    The company undertakes civil contracts for government contracts and government agencies only for Roads, Highways, Buildings, Bridges, Railways, Runways etc. E5 has prudently crafted its diversified segments within infrastructure space to achieve sustainable growth on year-to-year basis. The company has its corporate office located at Wordmark, Golf Course Extension Road, Gurgaon. Its registered office is located at Hisar, Haryana.

    Jewellery Industry- Gold and Silver –

    Mr. Pankaj Khanna, Founder & Managing Director, Gem Selections, Khanna Gems Private Limited-
    “Custom duty on gold and silver to be rationalised as per Budget 2021, this seems to be a great step for the better import and export of gemstones and jewellery across the globe. However, with no specific policies for the upliftment of jewellery and gems industry, the sector will have to work around the development of technology in the space on its own. Also, a revised custom Duty will be seen in 2021 which will aid the entire export and import industry. Policies around Export of gems and jewellery needs further evaluation though.”

    About Gem Selections:

    Khanna Gems Pvt. Limited is a pioneer in the gemstone business and the only firm selling 100 percent genuine gemstones. Incorporated on 20th January 1997, it is the only company in India that sells gemstones with an appropriate government lab certificate, be it in the online or offline mode. Khanna Gems engages in retail sale, wholesale distribution, and export of gemstones, diamonds, jewellery, handicrafts, rudraksha and other related products. The brand has 400+ dealers globally.

    Education Finance-Eela Dubey, Co-Founder & CEO, Edufund-
    “India’s maiden digital budget saw a liberal approach to fiscal figures, re-introduced tax-free infrastructure bonds, and dividend exemption from InVIT. This is an excellent time for individuals to focus on their personal finance. What matters for a middle-class person saving today is clarity in personal taxation, stable investment regime and risk-adjusted financial assets available. Today there is a confluence of all the 3 in India. If an individual wants to embark on his/her financial journey, today is an ideal time. The best time to invest was yesterday, the second-best time to invest is today.
    Also, it is a major relief that there was no increase announced in the long term capital gains tax on equity investments which aids the investment trajectory in the country in the year 2021.”

    About EduFund-

    EduFund is India’s first investment advisory app focused purely on higher education. Built by India’s trusted investment experts and backed by Angel investors (Indian HNIs and Foreign Institutional Investors). Our purpose is simple – enable Indian parents and empower Indian students. Whether that is studying abroad or finding the right college here in India, EduFund helps parents secure their child’s future.