Quote by Society of Manufacturers of Electric Vehicles (SMEV) on Union Budget 2019-2020
Published on February 1, 2019
“This year’s Budget lays down progressive measures which, if implemented well, will certainly take economy onto
a higher trajectory. The Budget is notable for its roadmap for 2030 focussing on ten dimensions which are key growth drivers of the Indian economy. This year’s Budget gives a reason for SMEs to cheer considering various incentives announced by government to propel their growth. Various tax benefits and thrust on ‘Make in India’ is a testimony to the government’s intent of encouraging entrepreneurship; enabling India to emerge as the startup hub where “Job Seeker is now the Job Creator”. The move to source atleast 3% material from women-owned SMEs by Government enterprises will provide an impetus to women entrepreneurship.
In the education sector, the government has already implemented various policy reforms. With emerging technologies such as Artificial Intelligence, Virtual Realty already making a significant impact in every sphere, the move to launch the National Artificial Intelligence Portal is a commendable one. The education sector will receive a boost with the focus on strengthening the digital infrastructure. It can be a game-changer in making education affordable and facilitate access to education among youth in every nook and corner of the country.”