Budget Reaction Quote by Mr. Kunal Patel, MD of Monika Alcobev

“The Union Budget 2023 was a very business-friendly one. Several initiatives were announced to enhance the Ease of Doing business by reducing compliances and decriminalizing legal provisions which will boost business growth. More clarity on what these are would be appreciated for sure.

The various initiatives, including revamping the credit line, announced to support MSMEs and startups are very encouraging for young entrepreneurs.

Many of the announcements (including the higher rebate on income tax) will help create employment, and help train people for jobs in the future. This is a critical aspect in ensuring business stability, particularly given expected market conditions.

Tourism was also one of the key focus areas of the budget. The new-age initiatives like an app for tourists, Dekho Apna Desh, Swadesh Darshan initiative, etc., will promote more participation from the younger generations, and will subsequently boost the growth of associated F&B brands”

-Mr. Kunal Patel, MD of Monika Alcobev

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