Mr Nandan Mall Founder & CMD, Hulladek Recycling Pvt Ltd.
In the current budget, to further electronics manufacturing, duty concessions have been given for high growth of electronics items. We also look forward to some action on the post life of electronics (e-waste). Similarly duty concessions have been provided on parts of mobile phones. Some action could have been implemented on waste management of these electronics under Swacch Bharat Abhiyan or Digital India Scheme
Mr. Tushar Choudhary, Founder & CEO, Motovolt Mobility Pvt. Ltd.
The upcoming budget presents a major opportunity for India's electric mobility transition. Our expectations are centred around stimulating growth, innovation, and sustainability in the EV sector. We anticipate an expansion of the FAME II scheme with increased subsidies, especially for commercial EV fleets including 2 Wheelers. It is crucial to incentivize domestic manufacturing of EV components like batteries and electronics to reduce import dependency and bolster supply chains. Lowering GST on EVs and components would boost affordability, while enhanced tax benefits for EV buyers and infrastructure investors will spur adaptation to the sector. Allocating funds for Charging Stations in Urban, Highways, and Rural Areas is essential for Infrastructure Development alongside incentives for Battery Swapping Stations.
Investments in R&D for Updating Battery Technology, EV Powertrains, and Charging Infrastructure are critical, as is enabling industry-academia collaboration for innovation. Strengthening State and Central EV policies, coupled with robust Vehicle Scrappage Policies, will help facilitate the adoption of EV Vehicles and form the shift from ICE vehicles. Green financing, low-interest loans, and public awareness campaigns about the EV benefits will provide the boost needed by the industry.
Integrating EV charging with renewable energy and supporting energy storage solutions will advance clean energy use, aligning with sustainability goals. We look forward to a budget that addresses these priorities, laying the groundwork for a resilient and sustainable EV ecosystem in India, reducing carbon emissions and promoting eco-friendly mobility.
Mr Aayushman Jain, Director, Siddha Group
The Real Estate sector is projected to grow at a CAGR of 9.2% from 2023 to 2028, the sector offers substantial opportunities for investors. As we approach the Union Budget 2024-25, the real estate industry is optimistic about potential policy reforms and incentives that could drive growth and meet the evolving needs of homebuyers, developers, and investors, significantly impacting the real estate landscape in the years to come.
Mr Rishi Jain, Managing Director, The Jain Group
The major expectation that the industry has is of easing the compliance with the GST and Income tax laws. Currently, GST laws are bordering on over-compliance and over-monitoring. My major expectations are easing the business compliances and incentivising the businessmen who are contributing to the GDP of the country. Lowering the tax slabs for MSME businesses would be a welcome measure.
Mr Sahil Saharia,CEO, Bengal Shristi Infrastructure Development Ltd
The housing sector is eager for a favourable industry status and emphasizes the need for single-window clearance for housing projects, both of which remain crucial this year. There is optimism regarding expected policy adjustments, including possible reductions in Goods and Services Tax (GST) rates and efforts to stabilize material costs. Moreover, there are expectations for tax relief and increased deduction limits on home loans. The upcoming union budget should appeal to both millennials and savvy investors with its potential benefits.
Dr Debasish Bhattacharya - Chairman & MD, Disha Eye Hospitals
We hope the 2024 State Budget will be more focussed on the healthcare ecosystem; the enhancement of patient care and support towards the growth and development of healthcare professionals in the state. We appeal to the Government to increase the fund allocation for healthcare infrastructure development. Raise the funding ratio for the public health programs and initiatives and reimbursement rates for healthcare services under government schemes.
There's an immediate requirement for the investment in technology and the digital healthcare system. The primary healthcare services and rural healthcare facilities need to be boosted to bridge the gap of various deficits. Seeing some of the recently reported incidents, a simplification of healthcare regulations is required. We expect, in the upcoming State Budget, medical education and research for the aspirants will be taken into consideration and more medical colleges will be planned and established, acceleration in the seats of the medical colleges and job opportunities to reach a height in the upcoming days.
Pre-Budget Quote by Mr. Vijay Kumar Agarwal, the Founder and CEO of Makoons Group of Schools
According to Vijay Kumar Agarwal, The education sector is at a crossroads, waiting for legislative moves to virtually turn the tide as we prepare for subsequent funding. Makoons Group of Schools sees training funding as a strategic imperative for the country's development, not just an expense. We demand that the government's main priorities are to expand access to special education, help with creative teaching strategies, and promote virtual literacy in all areas. These programs are critical to equipping our children with the data and competencies needed to thrive in a rapidly changing international economy. Furthermore, incentivizing private sector participation in education infrastructure development and teacher training will be critical steps toward meeting universal education objectives. We look forward to a budget that demonstrates a strong commitment to our country's future through robust educational reforms and long-term investments.
