Reaction on UNION BUDGET 2016: Dr. Sumit Chowdhury, Founder & CEO, Gaia Smart Cities
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| Dr. Sumit Chowdhury, Founder & CEO, Gaia Smart Cities |
My first reaction as someone directly
connected with the swatch bharat abhiyaan is, that the focus and the fund pool
of 9000cr reiterates the commitment of the government, which is fantastic.
While the rest of it seems like basic
but are the primary building blocks for a larger change and progress. This is a
work in progress budget with focus on pure fundamentals. There aren’t any big
bang announcements. The focus is on farmers, infrastructure, health and
education
Focus on roads and infrastructure
development with an outlay of 2.21L Cr
is the big one in my opinion. This coupled with initiatives around promoting
start-up, job creation and made in India program would strengthen the
fundamental and have a huge rub-off on other segments as well.
The emphasis on agriculture and rural
sector is the other standout and covers it comprehensively. From rural
electrification, Irrigation program, agricultural credit, agricultural
insurance; most areas have been addressed. The allocation on rural India is
immense and aimed at stabilising the core to amplify growth and demand.
The FM has taken a big step towards
fostering start-ups and the start-up culture in India by allowing a tax
exemption of 100% for 3 years. However more can be done in this space like
allowing start-ups some leeway in procedures and clearances besides sharper
definition of nomenclatures and guidance.
Given the global scenario and domestic
challenges; this is a good budget and if consolidated well over a period of
time, this could pave way for greater growth and path breaking reforms.
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