Ghazal Alagh, CIO & Co-founder, Honasa Consumer Limited.
"The government's latest budget marks a significant leap forward for the startup ecosystem, especially with the abolition of the angel tax. This move will provide much-needed relief and encourage more investments, giving the startup community a substantial boost. The focus on digital transformation and AI integration is particularly exciting for the beauty and personal care industry. Increased support for technological advancements and the push for digital infrastructure will enable startups to leverage cutting-edge technologies to enhance their products and customer experiences. As a woman entrepreneur, I find these measures encouraging and believe they will catalyze a new wave of growth and opportunities within the startup ecosystem."
Mr Sujit Bangar, Founder Taxbuddy.com
Comment on changes on capital gain tax on transactions in listed equity shares
Long term capital gain tax on real estate has been reduced to 12.5% but without indexation benefit. This is a welcome move. This has potential to bring liquidity in otherwise illiquid reality market.
Comment on changes in capital gains tax on property
Long term capital gain tax on real estate has been reduced to 12.5% but without indexation benefit. This is a welcome move. This has potential to bring liquidity in otherwise illiquid reality market.
Comment on changes in tax slabs and standard deduction
The standard deduction in new tax regime has been increased from ₹ 50k to ₹75k. Along with this, further changes in tax slabs for new tax regime has ensured more tax saving to the extent of ₹17,500/-.
Government has been consistently making changes to make new tax regime as preferred option of individuals. This is an effort to give more disposable cash in hands of individuals by way of tax saving and in-turn give filip to consumption ! #
This is about changes in F&O STT
Security transactions tax (STT) has been increased on futures and options transactions. Bad news is that this will enhance cost of F&O traders. Good news is that still they can claim this as deduction while calculating taxable profit.
Prasad Sreeram, CEO & Co-Founder, COGOS
"The launch of PM Gram Sadak Yojana Phase 4, aimed at providing all-weather roads to 25,000 rural habitats, is a monumental step toward enhancing rural connectivity and integrating these regions into the broader economy.
The expansion of Sidbi branches in MSME clusters and the enhancement of Mudra loans to ₹20 lakh will empower small businesses by providing essential credit for sustainable growth. The new MSME credit assessment model based on digital footprints is a significant advancement, opening new avenues for MSMEs, particularly those without formal accounting systems.
These measures highlight the government's dedication to strengthening the logistics and MSME sectors, fostering economic growth, and creating a more inclusive and resilient economy. Additionally, proposals to expand safe hub rules, streamline transfer pricing, and abolish the angel tax for all investment classes will further promote investment, bolster the startup ecosystem, and support innovation."
Vingish K Vijyan, Founder, 90+ My Tuition App
"In the FY25 budget, the government has demonstrated a strong commitment to enhancing education and employment opportunities by allocating ₹1.48 lakh crore. This substantial investment highlights the critical need to support and prepare our youth for future challenges. A major component of this commitment is the introduction of financial assistance for higher education loans, allowing up to ₹10 lakh for students in domestic institutions. The provision of e-vouchers to cover 3% annual interest on these loans for one lakh students annually significantly alleviates the financial burden on families and promotes access to quality education. Additionally, the new scheme to offer internship opportunities at 500 top companies to one crore youth over five years is a forward-thinking initiative. By providing 12 months of real-world business exposure, this scheme equips students with essential skills and knowledge, enhancing their employability and ensuring they are well-prepared for a competitive global economy."
Vaidyanathan Srinivasan, Operating Partner – Essar Capital ““The new budget's emphasis on ownership, leasing, and flagging reforms is an important step for the Indian shipping industry. By simplifying registration processes and incentivising flagging of ships, we anticipate a significant revival in our national fleet's competitiveness. This move will not only increase India's share in the global shipping market but also create substantial employment opportunities, marking a robust comeback from the drastic reduction in our global shipping share from 60% in 1969 to a mere 6% in 2020.”
Dhanpat Nahata, Managing Partner – Essar Capital “The budget's makes a strategic advancement towards India's energy security allocation for the development of small nuclear reactors and the research into new nuclear technologies. This initiative will not only enhance our energy mix but also accelerate the transition to sustainable energy sources. Essar is poised to benefit from these developments, driving innovation and sustainability within our operations and contributing to the nation's ambitious energy transition goals.”
Post- Budget Quote on Behalf of Dinesh Gulati, COO, IndiaMART Intermesh Ltd
"Access to affordable and timely credit has been a consistent hurdle in the MSME sector and the budget has introduced multiple benefits to address the issue.
The introduction of a new scheme to support purchase of machinery and equipment without collateral and guarantee for MSMEs will not only help provide the much needed financial assistance, but also act as a catalyst to the growth of the manufacturing sector. RBI, recently estimated a credit gap of ₹20 to ₹25 trillion in the MSME sector. Increase of limit for MUDRA and slash of turnover threshold TReDS registration will further provide necessary breathing room to the MSMEs
Additionally, linkage of new credit assessment models by public sector banks on the basis of the digital footprint of MSMEs will further bring the sector closer towards the digital transformation. The formulated package to finance technology support and set up of e-Commerce export hubs in PPP* mode will enable MSMEs to go beyond the geographies of India and ensure global competitiveness of India.
What makes us particularly happy is the support provided for skill development via allocation of ₹1.48 lakh crore for education, employment, and skill development. The MSME sector currently contributes 60% of overall job creation in the economy. This significant investment, in terms of EPFO allocation and support to first timer employees is a huge step in skilling of human capital and underscores the existence of a linkage between education, skills, and employment.
The budget charts the roadmap towards Viksit Bharat, with MSMEs being a crucial part of the growth journey.
Post-Budget Quite on Mr. Amarjit Singh Bakshi, Chairman and Managing Director, Central Park*
We commend the government for the comprehensive and progressive budget announced today. The measures introduced reflect a clear commitment to fostering economic growth and supporting various sectors, including real estate. The Rs 10 lakh crore investment under the PM Awas Yojna, Urban 2.0, will greatly benefit the urban middle-class and the Rs 2.2 lakh crore push will address the nation's affordable housing needs.
The allocation of Rs 11.11 lakh crore for infrastructure development, comprising 3.4% of India's GDP, will definitely drive growth and connectivity, positively impacting the housing market. Government's focus on maintaining a strong fiscal support for infrastructure projects for the next 5 years will also drive it forward. These budgetary measures are also expected to generate high-value employment and support over 200 ancillary industries, reinforcing the sector's critical role in the economy.
Overall, we believe this budget sets the stage for a robust and sustainable growth trajectory for the real estate sector, benefiting all stakeholders. We remain committed to utilizing these favourable policies to deliver exceptional value and innovative solutions to our customers.
We are extremely pleased with this year's Union Budget announcement as it showcases the huge opportunity for all the Indian beauty brands. The three-year extension of the Small Industries Development Bank of India's (SIDBI) branch network excites me much since it will give beauty brands all over the nation access to essential resources and funding opportunities. We can now drive growth and foster innovation in ways we have been eagerly anticipating thanks to this crucial step. Additionally, MSMEs looking to invest in new machinery and equipment have access to revolutionary support in the form of term loans up to ₹100 crore without collateral through the recently launched credit guarantee scheme. The creation of an e-commerce export hub through a public-private partnership model excites me greatly as well because it will present beauty brands with new global market opportunities and help them get past trade barriers internationally. Lastly, we have a great opportunity to invest in environmentally friendly packaging options thanks to the rise in customs charges on plastic products. This demonstrates our dedication to environmental stewardship and complies with customer demand for eco-friendly operations."Said by Deepak Jain, CEO and founder of Lass Natural
Mohan Ramaswamy, CEO and Co-Founder of Rubix Data Sciences.
"We applaud the initiatives announced in Budget 2024 aimed at strengthening the backbone of the Indian economy – Micro, Small, and Medium Enterprises (MSMEs). These measures hold immense promise for improving MSMEs' access to credit, a critical factor for their growth and sustainability.
The new credit assessment model based on digital footprint scoring is particularly exciting. Traditional methods, relying solely on assets or turnover, often overlook the potential of promising MSMEs. A digital footprint-based model has the potential to be a game-changer, providing a more holistic view of an MSME's creditworthiness and enabling fairer access to finance.
The increased loan amount under the Mudra scheme (up to ₹20 lakh) and the credit guarantee scheme for purchasing machinery and equipment are welcome steps. These initiatives will ease the financial burden on MSMEs, allowing them to invest in critical equipment and fostering growth and innovation.
Reducing the turnover threshold for mandatory onboarding on the TReDS platform will enhance access to faster payments for MSMEs, improving their cash flow and operational efficiency.
Overall, Budget 2024 demonstrates a strong commitment to empowering MSMEs. Leveraging data-driven solutions can significantly contribute to this critical national agenda. We look forward to collaborating with the government, financial institutions, and MSMEs to build a more vibrant and credit-inclusive ecosystem that fuels the growth of the Indian economy."
Dr. Aman Basheer Sheikh, CoFounder and Chief Medical Officer, TruthIn:
"The Budget 2024 announcement to facilitate the establishment of NABL-accredited food safety labs is a significant step towards enhancing India's food safety standards. This initiative will improve the quality and reliability of food testing, ensuring consumers have access to safe and nutritious products. Additionally, allocating financial support for 50 multi-product food irradiation units is a significant step towards enhancing food safety and extending the shelf life of perishable goods. This initiative will aid in reducing post-harvest losses, improving food quality, and ensuring food security for consumers. Combining the availability of accredited labs and support for multi-product food irradiation units, along with the implementation of robust food labeling laws, will further boost consumer confidence by supporting businesses to meet stringent safety and ingredient disclosure standards. This comprehensive approach ensures a transparent and trustworthy food system, fostering greater consumer trust and industry integrity"
2. Ravi Putrevu, CoFounder and CEO, TruthIn:
"This uptick in FMCG stocks reflects investor confidence, anticipating that higher incomes will drive increased demand for consumer staple products. However, as India's fourth-largest sector, FMCG's rise highlights the pressing need for a better-regulated environment where all stakeholders come together to ensure sustainable growth. Effective regulation coupled with collaborative efforts will help maintain product quality, protect consumer interests, and support long-term industry stability. This holistic approach will enable the FMCG sector to thrive while contributing positively to the economy and society."
