Union Interim Budget Reaction quotes 2024

Jaepy kurian

Jaepy Kurian, Senior Vice President & Delivery Head – India, Orion Innovation –

“We appreciate the government’s vision of making India a developed nation by 2047 and its efforts to provide inclusive development and growth across various sectors and regions.”

“We support the government’s initiatives and schemes that aim to boost the digital economy, such as the PM SVANidhi scheme for street vendors, the PM Kisan Yojna for farmers, Mudra Yojana for women entrepreneurs, PM Mudra Yojana for entrepreneurs, the Digital India programme, the National Digital Health Mission, and the National Education Policy. We believe that these initiatives will empower millions of Indians with access to digital services, opportunities, and benefits.”

“We also suggest some areas where the government can further invest and collaborate with the private sector to accelerate the digital transformation of India, such as enhancing the digital infrastructure, promoting digital literacy and skills, fostering innovation and entrepreneurship, and ensuring data security and privacy. We are confident that with the government’s support and guidance, India can emerge as a global leader in the digital era.”

 Niranjan Kirloskar

Niranjan Kirloskar, Managing Director, Fleetguard Filters Private Limited

Mr. Niranjan Kirloskar, Managing Director, Fleetguard Filters Private Limited, “The Finance Minister proposed a well-crafted budget that balances growth and social development. The focus on infrastructure development, with the Interim Budget 2024 proposing to raise capital expenditure—for the fourth consecutive year—by 11.1% to ₹11.11 lakh crore, which is 3.4% of the GDP, presents a significant opportunity for the auto and construction industry. The impetus on Research and Innovation for catalysing growth, employment, and development is a welcome move for a Viksit Bharat. With reforms supporting the adoption of sustainable mobility and skill development, India is poised to become a global leader in automotive technology.”

Amar Nagaram, Founder and CEO of Virgio

“Finance Minister Sitharaman, in the interim budget announcement, encapsulated the remarkable growth witnessed by the nation in the last six years. Noteworthy initiatives such as green India initiatives, technological advancements, and startup-friendly budgets, including PM Mudra Yojana, which approved 43 crore loans totalling ₹22.5 lakh crore for the entrepreneurial aspirations of the youth, have played a pivotal role in the country’s economic progress. Additionally, schemes like Fund of Funds, Startup India, and Start-Up Credit Guarantee have significantly contributed to the advancement of our youth.

FM Sitharaman emphasised a golden era for tech-savvy youth, introducing a corpus of ₹1 lakh crore with a fifty-year interest-free loan. This corpus aims to provide long-term financing or refinancing with extended tenors and low or negligible interest rates, fostering research and innovation in sunrise domains within the private sector. This move is particularly beneficial for D2C startups in India.

The circular aspect of Virgio aligns with the broader vision outlined in the budget, striving to create an ecosystem where sustainability and innovation coexist. We eagerly anticipate contributing to this transformative journey by utilising technology and research to shape a fashion industry that not only upholds the highest standards of quality but also champions environmental responsibility. The proposed measures will undoubtedly inspire and empower fashion brands to further integrate circular practices and innovative technologies into their business models.”

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