“The focus of the budget this year was on strengthening the healthcare system of India, which stemmed as a critical lesson of the pandemic. However, on the industry side, we do not have much for the agrochemical sector. The only upside is that the proposed increase of agriculture credit is likely to increase the purchasing power of the farmers, which will, in turn, become a factor of growth for the agrochemical sector. The MSMEs may benefit from the increase in customs duty and withdrawal of exemption on certain imports. But largely, this budget does not have much for us”, said Mr. Pradip Dave, President, PMFAI.
“First of all, the government must be congratulated for a comprehensive well-considered budget in what was an extremely taxing economic backdrop thanks to the Covid-19 battle. Now that lives have been saved and we are to feel even safer in the coming month’s thanks to the largest Covid vaccination programme in the world which is underway – the government has to think of livelihoods. And in that respect, taking the right policy measures in the budget 2021 for urban infrastructure, transport, textile, fisheries and encouragement of startups, along with disinvestment and Atma nirbhar Bharat programme and production-linked incentive’s (PLI) with a special focus on 13 sectors would generate sufficient and sustainable employment. Only this would lead to stable incomes and higher purchasing power which would, in turn, generate demand for FMCG and food products and services. Furthermore, the allocation of substantive funds for roads, highways and railways will improve the distribution network and efficiencies of food products and services leading to even higher demand and consumption thereby giving a huge fillip to the latter”, said Mr. Shyam Sunder Aggarwal, Managing Director, Bikano.
“The much-awaited Union Budget presented by Union Finance Minister Smt Nirmala Sitharaman has done well on allocation for infrastructure in all the prime sectors. The budget has announced stimulus packages in the form of low income tax slabs, tax exemption for notified affordable housing for migrant workers and New Agri Infra Development Cess from February 2. These moves will no doubt promote consumerism but also will boost overall GDP growth. As more finances have been allocated on building roads, housing and new factories, this will also generate income opportunities for our rural consumers and bridge the gap to have last-mile consumption,” said Mr Amrinder Singh, Managing Director, Bonn Group of Industries.
“We are happy with the 2021-22 budget, where the central government is seeking the help of NGOs in setting up 100 new Sainik schools in partnership with NGOs / private schools / states. Also, Income Tax “relief for senior citizens is also a welcome step as NSS has a donor base for senior citizens across India. With this, we were expecting from the budget that no GST on aids and devices, and low interest rates for differently abled individuals,” said Prashant Agarwal, President, Narayan Seva Sansthan(NSS).
Healthcare Industry-
Shabnum Khan, Founder, 750ad Healthcare Pvt. Ltd.-
“After dealing with a pandemic for over a year now, it was evident that the budget for healthcare needed to be expanded. We have experienced the need for better healthcare in the country and hence the setting up of 17,000 rural and 11,000 urban health and wellness centers is a great step. But, when we look at the figures, the allocation of healthcare budget, is a very slight increase of 5.7% to Rs. 67,484 crores as compared to the last year’s Rs 63,830 crores. This is lesser than the target spending of 2.5% of GDP on healthcare. Another major need of the hour was to dedicate budgets towards data protection to set up an infrastructure in order to safeguard all the online data saved in the healthcare sector. On the positive side, the PM Atma Nirbhar Swasthya Bharat Yojana to develop primary, secondary and tertiary healthcare systems is a promising step towards developing a better healthcare infrastructure in the country.”
About 750ad Healthcare:
750 AD has the vision to promote and sustain good health with a view to ensure high state of well-being amongst citizens. It is a revolutionary platform that amalgamates various aspects of healthcare on one single platform. The brand’s website is a go-to source for healthcare decision-makers and is a market aggregator that aims at boosting the businesses of chemists and other healthcare businesses across the country.
Construction/Infrastructure Industry-
Subhal Garg, Director- Finance & Strategy, E5 Infrastructure Pvt. Ltd.
“Budget 2021 had set a tone for the next decade, mission of 5 TN economy looks achievable. Infra spending whether in Roads & Highways, Railways, Metros, power, affordable housing etc. will have multiplier effect in the economy and will boost demand for the products of heavy industries like steel, cement, transportation and will generate employment.
To meet the funding requirements of the sector, FM had announced to set up Development Financial Institution with an initial capital of INR 20,000 Cr with an aim to create a portfolio of 5 lacs crore. REIT & Invit will be a sustainable solution to unlock the value of annuity yielding assets, it will also provide alternate to investors who are relying on interest income. Setting up a “National Monetization Pipeline” for brown field projects is a welcome step. Allowing issuance of Zero-Coupon Bond by IDF and tax benefits will further boost up liquidity in infrastructure space.
To promote transparency and reduce tax litigation Hon’ble FM had announced series of reforms which includes reduction of time limit for reopening of assessment in income tax act from 6 years to 3 years, setting up of dispute resolution committee and faceless ITAT.”
About- E5 Infrastructure
E5 Infrastructure laid its foundation in 2015 with the key objective of transforming the infrastructure space in India and its adjoining countries. The company was conceived on 5fundamentalprinciples for building a strong Brand, i.e.,Ethical, Entropic, Empowering, Environment and Entrepreneur. Hence, the name- E5 Infrastructure, which resonates with a brand that aims at improving the latest technology in the construction industry along with formulating new strategies to reduce construction time, cost and its impact on environment through research and development.
The company undertakes civil contracts for government contracts and government agencies only for Roads, Highways, Buildings, Bridges, Railways, Runways etc. E5 has prudently crafted its diversified segments within infrastructure space to achieve sustainable growth on year-to-year basis. The company has its corporate office located at Wordmark, Golf Course Extension Road, Gurgaon. Its registered office is located at Hisar, Haryana.
Jewellery Industry- Gold and Silver –
Mr. Pankaj Khanna, Founder & Managing Director, Gem Selections, Khanna Gems Private Limited-
“Custom duty on gold and silver to be rationalised as per Budget 2021, this seems to be a great step for the better import and export of gemstones and jewellery across the globe. However, with no specific policies for the upliftment of jewellery and gems industry, the sector will have to work around the development of technology in the space on its own. Also, a revised custom Duty will be seen in 2021 which will aid the entire export and import industry. Policies around Export of gems and jewellery needs further evaluation though.”
About Gem Selections:
Khanna Gems Pvt. Limited is a pioneer in the gemstone business and the only firm selling 100 percent genuine gemstones. Incorporated on 20th January 1997, it is the only company in India that sells gemstones with an appropriate government lab certificate, be it in the online or offline mode. Khanna Gems engages in retail sale, wholesale distribution, and export of gemstones, diamonds, jewellery, handicrafts, rudraksha and other related products. The brand has 400+ dealers globally.
Education Finance-
Eela Dubey, Co-Founder & CEO, Edufund-
“India’s maiden digital budget saw a liberal approach to fiscal figures, re-introduced tax-free infrastructure bonds, and dividend exemption from InVIT. This is an excellent time for individuals to focus on their personal finance. What matters for a middle-class person saving today is clarity in personal taxation, stable investment regime and risk-adjusted financial assets available. Today there is a confluence of all the 3 in India. If an individual wants to embark on his/her financial journey, today is an ideal time. The best time to invest was yesterday, the second-best time to invest is today.
Also, it is a major relief that there was no increase announced in the long term capital gains tax on equity investments which aids the investment trajectory in the country in the year 2021.”
Dr. J B Sharma, HOD and Senior Consultant, Medical Oncology, Action Cancer Hospital
The risk is bigger for cancer patients in this unprecedented time of COIVD 19 pandemic. While being immunity compromised makes them more prone to the severe effects of this COVID infection, their treatment management is also facing more challenges. Considering fear of infection, social distancing, rising number of infected cases have added more to the stress. Cancer is already like a burden on India long before even COVID came. In 2020 ICMR’s report suggested that there will be an estimated 12% rise in cancer cases in India in the next five years. Cancer patients are suggested to be more careful and follow COVID appropriated behavior. Never avoid treatment fearing infection at hospital it will only bring in multiple risks.
Dr. Indu Bansal, Director and Senior Consultant- Radiation Oncology, Narayana Hospital Gurugram
A report suggests that India will record a 12% rise in cancer cases by 2025. Due to the COVID 19 outbreak the challenges are high for cancer patients. Amid COVID pandemic our cancer patients need to be extra cautious and take better care of themselves. Please do not miss the doctor’s appointment due to fear of Covid precautions. We saw a good number of patients ignoring their symptoms and reporting to hospitals in advanced stages when the disease becomes incurable. It has only added to their risks of toxicities . Follow all the COVID related precautions and please report to the doctor on time, share all the details of your disease, follow hand hygiene practices, stay away from crowds, eat a healthy high protein diet. It’s also important to remain connected with your loved ones through social platforms. Keep a positive approach towards life as this will help in winning over cancer.
Dr Kanika Sood Sharma, Clinical Lead and Senior Consultant, Oncology, Radiation Oncology, Dharamshila Narayana Superspeciality Hospital
WHO’s report states that one during 10 Indians may develop cancer in their lifetime. Despite the fact that many cancers are curable and advancements in treatments are taking place ,cancer is still a leading cause of death in India. We need to deal with this paradox, because ignoring minor symptoms at early stages, social taboos on women related cancers and not reporting to the doctor at the right time adds to such disappointing data. Never ignore any lump in any part of your body, ask a doctor and seek the right suggestion, be regular with your therapies if you are ongoing treatment. Also amidst pandemic follow all COVID related precautionary measures. Always remember, early treatment is the key.
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