Kolkata: Corporate and Healthcare Experts have lauded the Union Budget 2022-23. They welcomed Government’s focus on Infrastructure and Digitalization. Let’s take a look at what Experts have to say about the budget:
Suvankar Sen, CEO, Senco Gold & Diamonds: FM’s announcement of reduction in customs duty on cut and polished diamonds and gemstones and plan to develop a simplified regulatory framework to facilitate export of jewellery through e-commerce are positive steps which will enable the sector to grow in the country and boost exports. We look forward to its implementation later this year. The reduction in import duty on diamonds will help generate increased demand for diamond jewellery in the market. Overall the focus on investment in infrastructure is positive for the economy, also the review of Special Economic zones Act will help boost the export infrastructure.
Pankaj Khanna, Chairman, Khanna Gems: The budget 2022 has brought in a big sign of relief for the gems and jewelry industry. Customs duty on cut & polished diamonds, gems to be reduced to 5% which will help in a better influx of the gems in the country. This will also mean that the customers will be benefitted with this, by availing better gems and jewelry at affordable prices.
Srikanth Kandikonda, CFO, Manipal Cigna Health Insurance: As India is coming out of the pandemic, the Government has laid momentous thrust on economic recovery and welfare of people, by focusing on crucial sectors such as infrastructure, agriculture, health, and education. The Union Budget has also provided incentives to promote digital economy, energy transition, and climate action which will lead India to the next decade. The announcement to roll out – National Digital Health Ecosystem that consist of digital registries of health providers and facilities, will provide further boost to universal access of better healthcare facilities. The pandemic has accentuated mental health problems in people of all ages. Thus, the launch of – National Tele Mental Health Programme will give access to quality mental health counselling and care services. In addition to these positive steps, if the government would have considered reduction in the GST rate on health insurance premium and increase the limit of tax deduction for health insurance under section 80D, these initiatives would have further helped millions of people access quality healthcare at an affordable cost. However, nonetheless, we anticipate that the steps taken by the government will certainly improve overall health and well-being of people at large.
Dr. Ramesh Kancharla, Chairman and Managing Director, Rainbow Children’s Hospital: We are happy with the announcement of the Digital Health Eco System which will go a long way in providing a national registry of the healthcare infrastructure of the country. This will improve transparency and information flow of key healthcare parameters across the country. Given the challenges in mental health thrown up by the pandemic, the National Tele Mental Health Programme is another welcome step. India has managed the pandemic phenomenally. The size of the country and the demographic distribution are unique challenges that have been managed through one of the largest vaccination programmes in the world. Also the effective use of technology through the Cowin and Arogya Setu App have helped in identifying, tracing and managing Covid cases.
Shabnum Khan, Founder, 750AD Healthcare Pvt. Ltd: As per Nirmala Sitharaman in the budget declaration for 2022, India’s growth is estimated to be at 9.27 percent. With high vaccination rate we are in a condition to face the challenges that come our way specially with the Omicron wave on the rise. No declarations have been made on data security. On the other hand, it is good to see the outcomes of the vaccination drives which have been a success. 156 crore doses of vaccines have been administered as of January 16, 2022, which will leave space for the healthcare budget to be focused on other verticals other than vaccination.
Amaresh Ojha, Business Head, RoundGlass Traqade & RoundGlass Gympik: Ease of Doing Business 2.0 is a great step, as announced in Budget 2022. A Single Window clearance mechanism will enhance the EODB in India and empower all business to do better. This has been developed in line with a trust-based governance system and will help the business to operate easily without getting involved in overlapping systems. Like all other sectors it will help the fitness industry to operate with ease. The development of Tele mental health centers as announced in the budget is also a great step towards promoting both mental and physical fitness in the long run.
Neha Puri, CEO & Founder, Vavo Digital: It’s a positive step that the Modi Government has taken to recognise the Digital currency by bringing it under Tax net. Vavo has been working with various start-ups that work in crypto, the sense which we could get is that the digital is the future. We are going to see the new trend in NFT’s in India which is full of talent & art, giving them opportunity to grow. Another major step to make India truly a digital country is by announcing the auction of 5G spectrum in a time bound period. This will give access to faster internet speed which will in turn increase the digital content on citizens handset thereby growing the business of digital media industry and associated businesses.