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Budget 2021: Reactions from India Inc and startups

As India recovers from the COVID-19 pandemic, India Inc and startups hopes from Budget 2021 were clear: resurgence and revival. As expected, this was a Budget like never before, fully focussed on complete economic reset.

Abhishek Gupta, Co-Founder and CEO, Hex N Bit 

In the National apprenticeship training scheme–the Indian government has now allocated Rs 3,000 crore for a national apprenticeship, which will create a skilled and talented workforce with the bilateral partnership with United Arab Emirates (UAE) to provide training, certification, assessments etc. Further appreciate steps such as:

  • India will collaborate with Japan in order to adopt cutting edge technology, technique & vocational programs for scaling up the technology in India to newer heights
  • The government of India has proposed the budget of Rs 50,000 crore over five years for innovation and R&D. There will be an expectation from the government to spend setting up the Innovation lab focusing on the technologies such as AI/ML, Data analytics, etc. which can showcase the solution to most of the problem statement in most of the field including medical, agriculture, defence or any natural disaster 
  • As proposed by FM, capital expenditure is now increased to Rs 5.54 lakh crore from Rs 4.39 lakh crore, hopefully, the state and centre will invest a considerable amount for digital connectivity, high-speed internet at an affordable rate as well as learning assets in a remote location so that aspirants can learn new-age technology to build New India.
  • Even after the economic crisis due to COVID-19, an increase in capital expenditure with such a high number must be appreciated.
  • Boost to start-up hub in India, as proposed by FM, there will be a plan to enforce incentives incorporation of one-person companies without any restriction on paid-up capital. Can set up this company in 180 days.

Source : YourStory