Corporate Reactions to Interim Budget 2024

Hyderabad: In the wake of the release of the Interim Budget 2024, key players spanning various sectors have weighed in on the proposed fiscal measures. Here's a comprehensive breakdown of the post-budget commentary from influential figures:

Dr. K. Anand Kumar, MD, Indian Immunologicals

Dr. Anand Kumar commends the Interim Budget 2024's initiatives, especially those prioritizing women's and children's health. He praises the commitment to fortify India's healthcare system through preventive care, expanded service access, and innovative health solutions. Notably, he applauds the provision of cervical cancer vaccines for 9–14-year-olds, viewing it as a proactive measure against global health challenges. The allocation of Rs 1 lakh crore for a 50-year interest-free loan to boost research and innovation, particularly in the vaccine sector, is seen as a promising step forward. This move facilitates the integration of cutting-edge technologies in vaccine development processes.

Prem Kumar Vislawath, Founder and CEO, Marut Drones

The founder of Marut Drones appreciates the budget's focus on agriculture, emphasizing the significance of modern farming techniques. He highlights the potential of agricultural drones, customized for the newly introduced Nano DAP class of fertilizers, to mitigate risks and enhance revenue. Policies supporting farmers and modern technology startups are anticipated to stimulate growth in rural areas.

Radhika Choudary, Co-Founder, Freyr Energy

Radhika applauds the budget's vision for sustainable development, specifically through rooftop solar initiatives. The 'Pradhan Mantri Suryodaya Yojana' and the commitment to rooftop solarization are seen as key drivers for competitiveness, innovation, and contributing to India's net-zero target by 2070. This is expected to create employment opportunities in the solar industry.

Rev. Daaji (Kamlesh D. Patel)Guide of Heartfulness and President of Shri Ram Chandra Mission

The budget's attention to spiritual and conference tourism aligns with the growing interest in this sector. Provisions like the Pilgrimage Rejuvenation and Spiritual Heritage Augmentation Drive (PRASAD) Scheme are seen as significant in promoting spiritual pilgrimage. Improved infrastructure and connectivity are anticipated to stimulate economic growth and create livelihoods in the tourism sector.

Satyendra Prasad Narala– Managing Director, Regency Ceramics

The government's initiative to facilitate homeownership for the middle class, especially the commitment to constructing 2 lakh houses, is lauded. Over seventy per cent allocated under PM Awas Yojana to women is viewed as promoting dignity and gender equality in rural housing development, positively impacting the building materials industry.

Karun Tadepalli - CEO and Co-Founder, byteXL

The CEO of byteXL praises the government's efforts in improving the education sector under the National Education Policy. The increase in female enrollment and STEM course participation, coupled with the success of the Skill India Mission, is expected to contribute to technological knowledge growth, fostering innovations and reducing the digital divide.

Binu Jacob - MD and CEO, Experion Technologies

Acknowledging the government's emphasis on education and skill development, Binu Jacob emphasizes the importance of sustaining and expanding these efforts. While noting positive aspects like the expansion of airports and railway corridors and interest-free loans for research and development, he underscores the need for effective policy execution to achieve tangible outcomes in infrastructure development.

As industry leaders share their perspectives, the business community eagerly awaits the execution and real-world impact of these budget measures. The emphasis on healthcare, agriculture, renewable energy, spiritual tourism, and inclusive growth signals a dynamic economic landscape for India in the coming years.