Post- Budget Reactions 2020
Dilip Dusija, Partner, Deloitte India
'With the government's push on skills development and recognition of role to be played by AI, IOT, Data Science, there will be a push to private and public investments, through NSDC, in non-regulated education models, engaged in imparting training to youth in these upcoming segments.'
Anindya Mallick, Partner, Deloitte India
“Job opportunities in rural, agricultural logistics development as well as infrastructure will need to develop skills - need to ensure Skill centres at district level covers courses in these sectors.
Ecosystem for facilitating improved productivity in farm sector to give opportunities for youth to be entrepreneurs or take jobs - education and skills need to be imparted to ensure the youth are productive”.
Dr Apoorv Ranjan Sharma, MD and Co-Founder, 9Unicorns
"The NDA government’s continued efforts towards bolstering the startup landscape in India are commendable. Like the previous year, Union Budget 2020-21 focuses on the improvement of ease of doing business for startups. The proposal to set up an investment clearance cell that will provide end-to-end facilitation and support to entrepreneurs is a step in the right direction. Under this initiative, startup owners will receive pre-investment advisory, information on land banks, as well as a faster clearance on the state level. We believe this will present unbridled opportunities to entrepreneurs and the overall startup ecosystem in the country. Another positive move in favour of startups is postponing of taxation for employees for 5 years, along with ESOP taxation in the hands of employers of startups being deferred. As an accelerator for early-stage startups, the budget announcements meet our expectations."
Mr Chander Agrawal, Managing Director, TCIEXPRESS
"This year, the government has introduced reforms that are in line with the vision of integrated national infrastructure. The reforms include monetization of 12 lots of highway bundles by 2024, the institution of a governance framework for ports, the establishment of 9,000 KMs of the economic corridor, and PPP model in transportation alongside others. Further, 100 additional airports will be developed under the UDAN initiative by 2024 which will improve national connectivity and catalyze freight movement.. We welcome this year's budget."
Sanjay Khan Nagra, Partner, Khaitan & Co
“Attracting more FDI and ECB for the education sector is an important step. If implemented well in the New Education Policy, it can have far-reaching effects on India’s workforce.”
“National Forensics University is a critical announcement. India really needs a large skilled workforce of cybersecurity experts to help authorities deal with the increasing menace of cybercrimes. “
SAMEER SAH, Partner, Khaitan & Co
“Opening foreign investment and foreign debt for the education sector was much needed. This will require regulatory clarity in multiple legislations. There is a lot of financial sponsor interest in education without a doubt. There is massive demand and enough skilled entrepreneurs – they just require the right financial support and this will be a welcome initiative”
MOIN LADHA, Partner, Khaitan & Co
“Liberalising the FDI and enabling ECB in the educational sector will certainly put them at level playing field with international institutions and further improve the quality and infrastructure. This could also reduce the foreign exchange spends on overseas education by Indians as well”
