Akshay Marwah, Mohit Marwah, Co-Founders, AAFT Online, Led by the promoters of AAFT University, said, “The honourable Finance Minister’s move to launch a unified Skill India digital platform to empower the youth and focus on job training through the formulation of the National Education Policy in the Budget 2023 is highly commendable. The focus on youth and the future of India by macroeconomic stability and a visionary focus on technology advancement and setting up AI centers in top education centres is a great step forward. The budget sets a hopeful tone for India’s GDP and economic growth with special emphasis on vocational, secondary and specialized higher education, as India’s GDP is projected to grow at a rate of 6-6.8% in the 2023-24 fiscal year. The FM’s allocations is a practical approach in the 2023 budget which aims to boost the country’s economy with focus on Make in India, women and youth empowerment.”
Beas Dev Ralhan, CEO, Next Education said that “In its latest budget, the government is emphasising on job creation and training or uplifting the education standard. It further addresses the concern of vocational secondary education and specialized higher education. This sets a hope as our country’s GDP is likely to grow at a rate of 6-6.8 percent. For the 2022-23 financial year, the Eklavya Model Residential Schools (EMRS) budget has been increased by Rs 581.96 crore, from Rs 1418.04 crore in 201-22 to Rs. 2,000 crores. Under the scheme, tribal students will be able to attend residential schools. The budget also promotes the quick implementation of the latest technological advancements in the academic field to build an ecosystem of skilled students. In order to upskill teachers, innovative pedagogies, curriculum transactions, a dipstick survey of continuous professional development and the implementation of ICT will be used. A reduction in the cost of capital for educational loans was hoped for and is to be commended. Inflation and the necessity to adapt to technology remain challenges for the digital education sector with regard to taxation.
Anil Agarwal, CEO & Co-Founder InCruiter (IaaS Firm) said, “Economic agenda focuses on three things – facilitating ample opportunity for citizens, especially the youth, providing a strong impetus to growth and job creation and third stabilising the macro economy. Amid job cuts, this budget provides a beacon of hope and is seen as a means of boosting the economy. By emphasizing the use of innovative and advanced technology, the budget creates an environment that promotes specialized growth, encourages experimentation, and leaves room for entrepreneurial ideas. This, in turn, enables HR leaders to better address each employee’s strengths and weaknesses, support their professional development, and maintain their engagement in the workplace.”
Mr. Sourabh Deorah, CEO & Co – Founder , Advantage Club,”Budget 2023 was presented with an impressive people-oriented agenda to address global challenges and strengthen the economy. It’s a well-balanced budget focusing on capital formation, green energy and R&D with an increased tax rebate for the middle class. New tax slabs announced by the government for the middle class are a big step in the right direction. Still, as the government has made the new tax regime a default regime, they should have carried deductions like 80c, HRA, and medical insurance premiums from the old regime to the new one. The other sector where the government has made a big announcement is for startups. The tax holiday extension and allowing the carryover of losses from 7 to 10 years and across the change of shareholding pattern is significant on the ground level. While the primary focus was on the core sectors – Agriculture, Infrastructure, Manufacturing & Transportation, entrepreneurs were assured of transparency and support”.
Alagar Samy, Director, Consortium for Technical Education (CTE) said, “ In the budget, Economic agenda for our vision focuses on facilitating opportunities for citizens, providing strong impetus to growth and job creation and strengthening macroeconomic stability. A total of 100 labs will be set up in engineering institutions with various authorities, regulators, banks and other businesses for developing applications using 5G services. The budget for self-directed online/offline training programs will enhance job seekers’ soft and digital skills, thereby improving their employment prospects. PM Kaushal Vikaas Yoajna 4.0 launch is a positive move to skill the Indian youth in new age courses for industry 4.0 such as robotics, coding, drones and other soft skills. The budget focuses on improving education quality, strengthening teacher competencies, developing robust infrastructure, promoting skill development, and increasing access to affordable internet services. Prior initiatives like Career Skills and Samagra Shiksha’s online teacher training, focus on research and innovation, e-learning and student financial aid are expected to enhance India’s education system and bridge the gap between education and industry, producing a globally competent workforce. Education moves forward with industry partnerships, data governance policies, and a technology-focused approach with a special emphasis on AI applications.”
Sudhanshu Agarwal, Founder and CEO, Citykart Retail said, “”This year’s budget proposal aims to stimulate the consumer sector by simplifying business processes and improving multi-channel retail capabilities. Doing this will enable industry players to operate efficiently and thrive in a rapidly evolving business landscape. The plan also calls for supportive fiscal policies and enhanced infrastructure across tier-I, tier-II, and tier-III cities. These policies will reinforce a robust multi-channel retail system. In a nutshell, by placing more disposable income in the hands of consumers, the demand for goods and services is likely to increase.”
Rajamanohar Somasundaram, CEO & Founder, Aquaconnect “The recent budget exhibits a strategic and forward-looking approach to advancing innovation in the agriculture and aquaculture sectors. The government’s emphasis on “Make AI in India & Make AI work for India” reflects a clear determination to leverage the power of Artificial Intelligence for maximum impact across various sectors. The integration of AI with satellite remote sensing in Aquaculture holds immense potential for boosting production efficiency, optimizing feed usage, and logistics, and importantly, decarbonizing the seafood value chain by quantifying emissions and implementing countermeasures to drive sustainability and accelerate our efforts towards net zero goals.”
Amith Agarwal, co-founder & CEO, Agribazaar- Budget 2023 truly sets the foundation for the ‘Amrit Kaal’ of India’s agriculture sector. Multiple initiatives announced by the government today will contribute to the all-round progress and small farmer prosperity: The Agriculture Accelerator fund aims to bring modern technology to transform agricultural practices and enhance India’s agri-production. This focused support by the government will further catalyze entrepreneurial & technological interest in the sector and encourage agri-preneurs to design and bring innovative and economical solutions to India’s farmlands.
The government proposes to adopt a cluster-based value chain approach through public-private partnerships. Towards this goal, a National cooperative database will be set up to map decentralized storage capacities across the country. This initiative will create pathways for last-mile linkages farmers to store their produce and earn remunerative prices. It will also open more opportunities for private-sector investments in agri-infrastructure
The government will extend support to develop the Indian Institute of Millet Research as a center of excellence. The focus on millet cultivation will contribute to India’s position as the nutrition hub for the world
Further, the government announced measures to boost farmer income by promoting farm mechanization. Three centers of excellence for artificial intelligence to be set up where leading tech companies will partner with the government for AI integration in the areas of health and agriculture.