Post-budget reaction by Mr. Mandeep Arora, MD & Co-founder, UBON

The government’s focus on empowering the MSME sector is evident. The commitment to providing timely and adequate finances, relevant technologies, and training is welcomed. The emphasis on orienting the regulatory environment to facilitate MSME growth indicates a supportive policy framework. The increased threshold for presumptive taxation from ₹2 crore to ₹3 crore is seen as a positive step, providing relief to small retail businesses, allowing them to focus on growth and development. Mr. Mandeep anticipates that these measures will enhance the competitiveness of MSMEs on a global scale. In alignment with the ‘Panchamrit’ goals, the founder notes the government’s focus on sustaining high and resource-efficient economic growth. The commitment to energy security is perceived as a positive step, ensuring availability, accessibility, and affordability for businesses. To meet investment needs, the founder appreciates the government’s commitment to preparing the financial sector in terms of size, capacity, skills, and regulatory framework. This will contribute to a robust financial ecosystem that can support the growth aspirations of both MSMEs and retail businesses.

Post-budget reaction by Mr. Lalit Arora,Co-founder, VingaJoy

The recent budget announcement has invigorated the founder with a renewed sense of optimism. The decision to increase the presumptive taxation threshold from ₹2 crore to ₹3 crore is perceived as a welcome relief for small retail enterprises, offering them room for growth. The founder applauds the government’s commitment to fostering an environment conducive to development and productivity, evident in the forward-looking ‘Reform, Perform, and Transform’ approach.

The establishment of a substantial corpus with a fifty-year interest-free loan specifically tailored for the tech-savvy youth is hailed as a catalyst for innovation and entrepreneurship. This visionary move is expected to usher in a golden era of technological advancements. The founder is particularly appreciative of the strategic emphasis on strengthening defense technologies, aligning with the goal of self-reliance.

In the realm of MSMEs, the founder commends the government’s focus on providing timely finances, relevant technologies, and training, foreseeing increased competitiveness on a global scale. Overall, the founder’s positive sentiment reflects a belief in the budget’s potential to foster growth and innovation across MSMEs and retail businesses.

Post-budget reaction of Mr. Kapil Bhatia, CEO & founder, UNIREC

We welcomes the budget’s visionary focus on promoting green growth through the introduction of a bio-manufacturing and bio-foundry scheme. This initiative aligns seamlessly with our commitment to eco-friendly practices. The emphasis on biodegradable polymers, bio-plastics, bio-pharmaceuticals, and bio-agri-inputs not only supports our brand’s sustainable product offerings but also contributes to a more environmentally conscious manufacturing landscape. The shift towards regenerative principles in manufacturing is particularly noteworthy, resonating with our brand’s ethos of responsible and ethical business practices. This forward-thinking budgetary approach encourages the industry to continue pioneering in eco-friendly alternatives and reinforces the importance of integrating green technologies into the fabric of retail and MSME sectors. We look forward to actively participating in and benefiting from this transformative journey towards a more sustainable and regenerative future.
Quote by Mr. Anuj Kumbhat, Co-Founder & CEO, WRMS
The interim budget 2024 reflects a commendable commitment to supporting our ‘Annadata’—the farmers, who are the backbone of our nation. The allocation of direct financial assistance to 11.8 crore farmers through PM-KISAN SAMMAN Yojana, along with crop insurance for 4 crore farmers under PM Fasal Bima Yojana, underscores the government’s dedication to safeguarding the agricultural community. The emphasis on value addition in the agricultural sector and efforts to boost farmers’ income is a welcome step that aligns with the broader goal of enhancing food production for our country and the world.

The success of initiatives like Pradhan Mantri Kisan Sampada Yojana, benefiting 38 lakh farmers and creating 10 lakh employment opportunities, showcases the positive impact of strategic policies. Additionally, the Pradhan Mantri Formalisation of Micro Food Processing Enterprises Yojana, aiding 2.4 lakh SHGs and sixty thousand individuals with credit linkages, demonstrates a holistic approach towards uplifting the rural economy.

Overall, the budget’s focus on reducing postharvest losses, improving productivity, and augmenting farmers’ incomes reflects a comprehensive strategy to strengthen the agricultural sector, ensuring sustainable growth and prosperity for our ‘Annadata.’