"I feel this was a balanced budget. Launching of mental health counselling, a National Tele Mental Health Program is an important step to maintain a healthy mental balance especially during covid times. Also, two lakh Anganwadis will be converted to Saksham Anganwadis and launching of schemes like Mission Shakti, Mission Vatsala, and Poshan 2.0 will further empower women. There are also a lot of good welfare measures announced for the society like Har Ghar, Nal Se Jal and the infrastructure push through Gati Shakti. Also reducing Alternate Minimum Tax Rate to 15 % and Surcharge to 7 % (for those whose income is between 1 crore and 10 crores) for co-operatives will give the sector the much-needed relief."
Pallavi Salgaocar, Chairperson - GCCI Womens’ Wing / Executive Director, Geno Pharmaceuticals Pvt Ltd / Founder Director, Desserts N More
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ECLGS scheme to directly benefit Goans
The Budget is positive and infrastructure oriented. Capital expenditure has been the focus. This will create jobs and give business to entrepreneurs. Additional Rs 50000 crores allotted to the ECLGS scheme have been earmarked specially for the hospitality industry and this will directly benefit Goans. There are many positive steps for start-ups such as extended tax holiday, access to Defence procurements, Battery swapping policy etc. MSMEs can also look forward to “Ease of Doing Business 2.0” wherein “Trust based governance” will be the drive. Another novel initiative has been the proposal to do away with Bank Guarantees and replace them with Surety Bonds, in case of Government contractors. This will save vital cash flow of several businesses. The budget offers stability in terms of tax rates. State Government employees will now be given NPS benefits on par with Central Government employees. Although the budget comes amidst the third wave of the pandemic, it resists the temptation of increasing tax burden on businesses as well as individuals, which itself is a remarkable feat. Overall, this budget will bring positivity to the broader markets and industry. Hope the promises are executed in earnest and in time.
n CA Gaurav Kenkre, Vice-chairman, Goa Branch of WIRC of ICAI
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Climate friendly, boosting solar energy
The budget is climate friendly “ a step towards making India a Net Zero Emission Nation as per MNRE's ambitious plan by 2070. Rs 24000 crore funding provided under PLI for manufacturing solar cells/modules in the country will certainly boost the Solar industry cutting down the cost of DCR Modules, reduce imports and also facilitate India's ambitious renewable energy targets. Extension of emergency credit line guarantee by an additional year will give a huge sigh of relief to more than a lakh of MSMEs across the country who have been struggling for survival in Covid effect.
n Dilip Nayak, CEO, Rainbow Solar Power Solutions
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Financial boost to hospitality
As far as Goa is concerned, there is a financial boost for the hospitality SMEs to get them back on track. Also, there could be SEZs introduced in Goa once again based on the new legislature and hopefully it will bring in large industries and corporations thereby benefiting the local employment and MSMEs rather than just bigger problems like what we have seen in the past.
n Vishwesh Kamat, Partner, Glazetek Systems
