Reaction on UNION BUDGET 2016: Dr. Sumit Chowdhury, Founder & CEO, Gaia Smart Cities - WorldHRDiary

March 01, 2016

Reaction on UNION BUDGET 2016: Dr. Sumit Chowdhury, Founder & CEO, Gaia Smart Cities

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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