“Hon’ble Finance Minister Nirmala Sitharaman’s proposal to augment the road infrastructure by 25,000 km under the PM Gati Shakti plan will ensure better connectivity to smaller towns and villages. With the radical shift in people’s travel choices post covid and the subsequent return of the road trips, investment in highway construction is surely an encouraging move and will provide key support to the travel and car rental companies in the upcoming years”, says Gaurav Agarwal, Founder & CEO, Savaari Car Rentals. He added “While the FM addressed the highway infrastructure, the budget failed to breathe any life into the industry currently on life support, without any concrete decisions in its favor. Still recovering from the deadly after-effects of multiple covid variants, the travel and tourism had huge expectations from the budget in terms of tax reliefs on the hospitality sector, GST reduction, tackling unemployment issues and the overall recovery of the industry by a sizeable increase in the budgetary allocation, all of which remain unaddressed.  While the launch of e-passports is a welcoming move for international travel, it will do little to further the local tourism which is in a dire need of revival. The introduction of Vande Bharat trains and the new ropeways seem like an encouraging move for travelers, the impact of which will only be fully appreciable in the medium to long term, in the post-covid era. We appreciate the initiative of infrastructure and social development projects in the North-East region, which will directly spur domestic travel in the region”.  

        Mr. Arjun Ananth, CEO Medall Healthcare Pvt Ltd.: “At the outset the Union Budget 2022 the launch of National Tele Mental Health program will better the access to quality mental health counseling which has accentuated mental health problems in people of all ages. There could have been focus on primary healthcare centres and preventive healthcare diagnostics, which has become a necessity in the wake of the third wave. The Union Budget 2022 seems to have its sights set on the long term with a major push towards Digital Healthcare Ecosystem, and no major announcements or tax breaks that would have worked as an instant relief to the Healthcare sector. The much-anticipated goods and services tax (GST) streamlining and the introduction of input tax credit (ITC), if implemented, would’ve introduced the liquidity that the industry was hoping for”.

        By Lexship Founder and CEO, Padmanabhan Babu: “Clearly a budget with “Long term Vision” in mind, where the central piece is focus on Digitisation and technology adoption foundation for the future. A budget for #DigitalIndia 2.0, budget that could be labelled “Nayi Disha”. Digitization drive cutting across Agri, Financial, Education and Governance spelling out a vision for the future. Creating a platform for transparent and seamless delivery of services, benefits, inclusiveness, and better governance is clearly visible in the road map that this budget sets for the next decade.

Technology, communication and Infrastructure focusses on connectivity and reach cutting across the nation. 

The Budget is of 4 Parts namely 1) Growth 2) Inclusiveness 3) Green Energy and 4) Finances for Investments.

1. Driving Growth: Upgradation of Technology in rural area (5G, OFC, Roadways, Rail connectivity). Digital Desh, One Class One TV, Digital University are initiatives that could bring Bharath in alignment with India and give the children in Tier 2 and 3 towns and villages access to global content.
2. Inclusiveness: DBT (MSP for farmers, Fund to Finance agriculture, supporting rural Startups)
3. Green energy: Focus on Battery Swapping, EV are a step towards Green energy and employment creation.
4. Finances for Investments – Increase in Capital expenditure, By Digitizing and including post office into core banking are steps to harness the saving potential and drive to financial inclusiveness.

Extending ECLGS for MSME’s and Tax incentive for Startups government has demonstrated continuity support towards these segments in line with Digital India1.0.

Creation of Logistics parks, Digital inclusion of upcountry locations in our view are more focused towards creating jobs and ability to earn rather than providing tax benefits. Growth of rural India, using technology to drive transparency and creating District centric product focus is bound to augur well for our business”.