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Post-budget reaction quote by industry experts

Post-budget reaction quote by industry experts 1

Consumer Electronics

Post- Budget Quote: Mr. Mandeep Arora, Managing Director, UBON

At UBON, we believe that the Budget 2021 is an encouraging one. Proposing the scheme to encourage domestic electronic manufacturing mobile phones, semiconductor packaging and electronic equipment is a welcoming move and we look forward to a complete policy to leverage it in expanding manufacturing in our new factories. Furthermore, painting a futuristic picture in this year’s budget, madam finance minister acknowledged the role of advanced technologies like IoT, AI, and analytics in shaping the world. We are forever committed to advancing our ‘AI x IoT’ ecosystem in India and will continue to invest in cutting-edge technologies to offer the best services to our customers in India.

Another aspect which I want to applaud in this year’s budget is withdrawing exemptions on parts of chargers and sub-parts of mobiles. From a consumer electronics industry perspective, the decision is a welcome move and boosts the industry sentiments. This will further give a boost to Indian Manufacturing industry and propel more investors in the sector.”

Post- Budget Quote: Mr. Lalit Arora, Co-founder and CEO, VingaJoy (a unit of Ubon)

“The Union Budget 2021 has given a hope to the consumer durables industry as it provided incentives for local  manufacturers, reduction in taxes on eco-friendly and energy-efficient products along with waiver of customs duty on imported inputs to make components. It is likely to attract global players in the Indian manufacturing sector as the Government is planning to offer plug-and-play infrastructure to the companies willing to come to India. Domestic electronic manufacturing has grown rapidly. We are now exporting items like mobiles and chargers. For greater domestic value addition, we are withdrawing a few exemptions on parts of chargers and sub- parts of mobiles. Further, some parts of mobiles will move from ‘nil’ rate to a moderate 2.5%.”

Health 

Mr. Vaibhav Garg, Sports & Clinical Nutritionist, Founder- Purecise

“Finance Minister Nirmala Sitharaman announced a new centrally sponsored scheme for the healthcare sector in Budget 2021. The Pradhan Mantri Atma Nirbhar Swasthya Bharat Yojana has been launched with a total outlay of Rs. 64,180 crore over a period of next six years aimed to cure new and emerging diseases. In addition, for the year 2021-2022, Rs. 35000 crores will be provided for the contribution of COVID-19 vaccinations. Since, this budget focuses on the health care system which is one of our common goals towards the country but along with this, we expected an initiative to be taken by the government towards improving palliative care through science based dietary and nutrition protocols in the post COVID-19 scenario. We appreciate the Government’s move to outlay Rs 2,23,846 cr.  dedicated towards health and well-being for the FY22. The budget very aptly focuses towards strengthening preventive care, curative and well-being of the population.”

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